Lloyd Blankfein, Macy's and a 'hedge fund apocalypse': HERE'S WHAT YOU NEED TO KNOW ON WALL STREET

Finance Insider is Business Insider’s summary of the top stories of the past 24 hours.

Hedge funds are having a tough time of it.

They are piling in to the same trades, and it’s showing in their performance, which has been dismal. That poor performance could lead to a “hedge fund apocalypse,” according to some.

For what it’s worth, here are 16 stocks hedge funds are betting against.

Lloyd Blankfein explained everything he’s seeing on Wall Street and in the economy with one word. The Goldman Sachs chief also just sold his $13 million Hamptons home — take a look inside here.

A Barclays whistleblower wrote this note to his boss about potential money laundering in France.

Deutsche Bank is investigating staff involvement in a transaction suspected of causing a conflict of interest and has suspended bonus payments of the staff while the probe is ongoing.

The war of words over IEX just stepped up a notch. Nasdaq’s law firm, Gibson Dunn, said that the SEC could be sued if it approves IEX’s application to become an exchange.

And lastly, here’s the trailer for “Equity,” the new movie about a badass female banker.

Here are the top Wall Street headlines at midday:

We went to Macy’s and saw why the brand is a disaster We went to Macy’s to find out why the brand is floundering. What we found shocked us.

Everywhere you look there is good news for Americans’ paychecks ― Slow wage growth has been among the biggest problems for the American economy over the past several years.

China’s giant population is reshaping the global economy The world’s second-largest economy is making its weight felt around the world.

Wall Street is going long Russia The Russian ruble’s had a good couple of months.

Gold might be about to defy ‘conventional wisdom’ Gold is off to a blistering start in 2016.

John Deere is getting whacked by a ‘global farming recession’ The world’s largest farming-equipment maker reported lower profits and sales for its second fiscal quarter ahead of the opening bell Friday, and it cut its outlook for the year.

The bond market could be recreating the massacre of 1994 Investors could be setting up a repeat of 1994’s bond-market chaos, according to Deutsche Bank’s Torsten Sløk.

10 incredible secret dining experiences you can have in New York City New York City is already a mecca for foodies, but there are still many incredible spots that have yet to be discovered.

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