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The Bank for International Settlements — known as the central banks’ central bank — is warning that there’s a “gathering storm” in the global economy.
In a report titled “Uneasy calm gives way to turbulence,” BIS chief Claudio Borio warns that 2016 is off to a terrible start that is really freaking out the central banks.
“The tension between the markets’ tranquility and the underlying economic vulnerabilities had to be resolved at some point,” Borio said. “In the recent quarter, we may have been witnessing the beginning of its resolution.”
There is a ‘game changer’ technology on Wall Street and people keep confusing it with bitcoin.
One of Bank of America’s top trading execs is leaving as the bank prepares job cuts, and Mike Bloomberg is expected to decide within 2 weeks on whether he’ll enter the race for White House.
Lastly, legendary New York Stock Exchange floor trader and director of floor operations for UBS Art Cashin turns 75 on Monday. Here is a look at his incredible life.
Here are the top Wall Street headlines at midday:
A subtle shift in the US economy changed the whole story for markets – The beginning of 2016 saw markets in turmoil. And the primary concern seemed to be the health of the world’s largest economy: the US.
Wells Fargo is on the hunt for a rock star banker – Wells Fargo is hunting for a new head of mergers and acquisitions, according to people familiar with the matter.
Jefferies is restructuring its junk debt business and 2 bankers have left – Jefferies Group will merge its junk-rated loans and bonds business with the junk debt unit of its joint venture with MassMutual Financial Group, according to people familiar with the matter.
It doesn’t matter what the Fed does now — they shot themselves in the foot 3 years ago – When will the Federal Reserve raise rates next?
Morgan Stanley’s top equity strategist recommends investors do the opposite of whatever they think they should do – Stocks, crude oil, and high-yield credit have all made a comeback in recent days.
There is a new type of entertainment ‘bundle’ emerging, according to prominent VC Fred Wilson – The new “bundles” Wilson points to aren’t just a package of video channels. These bundles put “TV” together with other services.