What you need to know on Wall Street today

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On Sunday, CVS Health agreed to buy insurance giant Aetna for $US69 billion. The bankers who spent their weekend closing the transaction, the latest in a wave of megadeals, stand to earn a colossal amount of fees for their firms.

Between advising on the transaction – which could generate significant regulatory scrutiny – and arranging more than $US40 billion in financing, seven banks could split more than $US500 million if the deal closes. Here’s the latest:

In Wall Street news, Morgan Stanley is getting in on the hottest trend in investing.Philadelphia Fed President Patrick Harker told Business Insider that 2018 is a wild card for rate hikes.

And in an interview with Business Insider, President Barack Obama’s former economic adviser Austan Goolsbee, now back at the University of Chicago, said stagnant wages represent one key factor that could prevent the Federal Reserve from continue raising interest rates in 2018 and 2019.

Bitcoin hit a new high above $US11,500, as the Winklevoss twins became the first bitcoin billionaires. Cboe is racing to launch bitcoin futures trading ahead of rival CME. And a brand-new cybersecurity watchdog just shut down a $US15 million cryptocurrency scam.

Lastly, go inside New York City’s most festive bar, where they spend more than $US60,000 a year getting ready for Christmas.

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