FINANCE INSIDER: The trade of the year

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

Wall Street already has a trade of the year.

It seems that everyone is betting against the Chinese yuan. The shorts seem to be everywhere.

In bank news, Goldman Sachs CEO Lloyd Blankfein today made his first TV appearance after 600 hours of chemotherapy. He said he can easily explain what’s going on in the equity market right now. The rest of the market, not so much.

The bank just announced a big shake-up, with lots of people moving role. Most notably, Jim Esposito, who was cohead of the global-financing group, will join the securities division as chief strategy officer. To read about him, click here. To read about what his appointment means, click here.

In other news, an 18-year-old tennis player once sponsored by billionaire hedge fund manager Bill Ackman pulled off a pretty impressive trick shot to win a point in the RBC Tennis Championships of Dallas.

And Uber will let you order a puppy squad to your office.

Here are the top Wall Street headlines at midday:

We just got terrible news about the most important part of the US economy – The services sector is slowing down.

A kid in Bill Gross’ high school nicknamed ‘God of Thunder’ eventually fell on hard times Bill Gross had a big kid in his high school class.

Chipotle’s disastrous 2015 explained in one chart – Fewer customers see it as a healthy food option. Ouch.

OLIVER WYMAN: It will take 10 years for the tech behind bitcoin to break big in finance – Blockchain database technology, which underpins digital cryptocurrencies such as Bitcoin, has got finance industry executives very excited.

Pack your bags, Wall Streeters: Your jobs are moving to Nashville – UBS has a plan to move about 2,500 jobs to low-cost locations such as Poland, India, China, and Nashville, Tennessee, over the next year. Yes, Nashville.

A Bill Gates-backed startup that wants to edit your genes just raised nearly $100 million Editas became the first company to price an initial public offering in the US in 2016.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.