Reuters - Money

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Thursday, June 15, 2017

Chance of Fed hitting 'terminal rate' looking terminal: James Saft

(Reuters) - The main thing terminal about the Federal Reserve’s 'terminal' interest rate projections are the chances of rates actually making it that high in the foreseeable future.

Ex-Visium fund manager sentenced to 18 months after fraud conviction

(Reuters) - A former portfolio manager at Visium Asset Management LP was sentenced to 18 months in prison on Wednesday following his conviction on securities fraud charges stemming from an investigation that led the New York-based hedge fund to close last year.

Morgan Stanley CEO says Saudi Arabia could be 'major opportunity'

(Reuters) - Morgan Stanley CEO James Gorman said Saudi Arabia could be a "major opportunity" for the firm as the country unveiled plans for oil giant Saudi Aramco's $100 billion initial public offering and introduced a series of reforms to attract foreign capital in 2015.

U.S. mortgage bonds hold gains after details on Fed balance sheet plan

NEW YORK (Reuters) - Prices on U.S. mortgage-backed securities clung to their earlier gains on Wednesday after the Federal Reserve signaled it planned to reduce its reinvestments in Treasuries and MBS later this year in a bid to shrink its $4.5 trillion balance sheet.

Prudential Financial's Lata Reddy to chair the Prudential Foundation

(Reuters) - U.S. life insurer Prudential Financial Inc said it appointed Lata Reddy to chair its not-for-profit arm, the Prudential Foundation.

State Street Global names new institutional sales head for SPDR business

(Reuters) - State Street Global Advisors, the asset management business of State Street Corp, said on Wednesday it appointed Kathryn Sweeney as head of its SPDR Americas institutional sales.

Bank of America prime brokerage executive jumps to RBC

NEW YORK (Reuters) - Jonathan Yalmokas has resigned as Bank of America Corp's head of prime brokerage in the Americas to lead an equity financing business at Royal Bank of Canada, a person familiar with the move said on Wednesday.

U.S. muni market slowly starts paying heed to cyber risks

NEW YORK (Reuters) - A rise in cyber attacks on U.S. public sector targets so far has had little impact in the $3.8 trillion municipal debt market, with no issuer as yet hit by a downgrade or higher borrowing costs because of a cyber security threat.

Big investors, unfazed by techs' roller coaster, buy 'FANG' stocks

NEW YORK (Reuters) - Large investors, whose high exposure to large-cap technology stocks boosted their returns during the first quarter of the year, are doubling down on their investments even as stocks like Apple Inc and Facebook Inc stumble.

Gundlach warns U.S. low-risk financial environment could change

NEW YORK (Reuters) - The lengthy low-risk, low-volatility U.S. financial environment should not be viewed as a "new paradigm," influential bond investor Jeffrey Gundlach said on a webcast on Tuesday.