Illinois Governor Backs Some of Democratic Fix for Pension Funds
©2016 Bloomberg News O1BFY36JTSE8 (Bloomberg) — Illinois Governor Bruce Rauner endorsed parts of a Democrat-proposed plan to fix the nation’s worst- funded state pension system, a move that he says would save $1 billion a year and give workers greater choice. Flanked by Christine Radogno and Jim Durkin, the state’s
Jeb Bush Enlists Family to Help Steady Campaign
©2016 Bloomberg News O1BZ9O6S972G (Bloomberg) — Former First Lady Barbara Bush will star in a new ad on behalf of her son’s Republican presidential campaign, former Florida Governor Jeb Bush said on Thursday. Bush also said he was “sure” that he’d campaign with his brother, former President George W. Bush,
*Clinton Takes On an Intelligence Watchdog: Josh Rogin
©2016 Bloomberg View O19WHK6S9729 (Bloomberg View) — Hillary Clinton’s presidential campaign Wednesday accused the intelligence community’s top oversight official of conspiring with Republicans in the Senate to leak sensitive information about her personal e-mail server. That’s a risky move, considering that it has produced no hard evidence of a conspiracy
U.S. Stocks Sink With Markets Around the World as Rout Deepens
©2016 Bloomberg News O19U9E6KLVRI (Bloomberg) — U.S. stocks fell, with the Standard & Poor’s 500 Index reaching a 21-month low, following a renewed selloff across stocks worldwide as skepticism about the strength of the global economy intensified. A late-day rally paced by health-care and small-cap shares helped trim declines, with
Matt Levine’s Money Stuff: Bank Gloom and Trade Advice
©2016 Bloomberg View O19FWE6JTSEP (Bloomberg View) — Banks Goldman Sachs announced earnings today, just barely squeezing some of its $5.1 billion mortgage settlement into the fourth quarter; earnings were down year-over-year because of that charge. Here is the press release. There is a lot of gloom at the banks. “Once Wall
Polling Memo to U.S.: Counting Conservatives Isn’t Easy
©2016 Bloomberg News O17PPG6K50Y0 (Bloomberg) — As Iowa voters prepare to kick off voting in the U.S. presidential nominating contests Feb. 1, an inquiry into the failure of Britain’s pollsters to predict last year’s election result is raising questions about the accuracy of surveys in the race to succeed Barack
Oil Trades Near 12-Year Low as U.S. Supplies Seen Expanding Glut
©2016 Bloomberg News O1845T6JTSEC (Bloomberg) — Oil traded near the lowest close in more than 12 years before weekly U.S. government data forecast to show crude stockpiles expanded, exacerbating a global glut. Futures were little changed in New York after dropping 3.3 percent Tuesday to the lowest level since September
China Is Getting Less and Less Bang for Its Credit Buck
©2016 Bloomberg News O1867M6JTSEB (Bloomberg) — Behind the numbers showing China’s continued slowdown at the end of last year lies a warning for Communist Party leaders who have been equally determined to embrace economic change and to ensure a rapid pace of growth. The flashing yellow light: there’s less and
Economists Can Tell You What You Should Want: Mark Buchanan
©2016 Bloomberg View O15G456JTSE8 (Bloomberg View) — At its best, economics is the study of what makes people better off, and how they can have more of it. To be effective, though, economists may have to tackle a tougher question: what “better off”‘ really means. For much of the past
U.S. Yields at 2% Make Trader Wonder Where Animal Spirits Are
©2016 Bloomberg News O16C376JTSE8 (Bloomberg) — Treasury benchmark yields that fell to 2 percent this month are raising concern the U.S. economy is losing momentum. Yields have tumbled as a global stock-market rout, tumbling crude oil prices and falling inflation expectations combined to send money managers to the haven of