The Federal Reserve has lost control of interest rates as evidenced by the federal funds rate trading higher than any part of the U.S. Treasury yield curve, Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Tuesday.
Hedge fund manager Kyle Bass told CNBC on Tuesday that he sees a "shallow recession" potentially in 2020, also adding that he thinks U.S. interest rates will follow the global interest rates all the way down to zero.
Benchmark U.S. Treasury yields rose on Friday on a report that Germany may be open to running a deficit to boost growth, while stronger stock markets also reduced demand for safe haven debt.
Canadian property and casualty insurer Intact Financial Corp said on Thursday it agreed to buy The Guarantee Co of North America and Frank Cowan Co for C$1 billion ($750.6 million) in cash from Princeton Holdings Ltd.
Big companies are increasing incorporating virtual technology and care options into employee benefit plans to combat the rising healthcare costs that long been corporate America's bugaboo, according to the annual survey of the National Business Group on Health.
U.S. regulators have circulated a new draft of the "Volcker Rule" that would further ease its requirements and scrap a proposed new test that had been met with fierce resistance from Wall Street, according to two people with knowledge of the matter.
Hedge fund Third Point LLC said on Tuesday that it recently cut its investment in United Technologies Corp , becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. that the funds said they would not support.
