
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

Republican Operatives Are Trying to Help Bernie Sanders
©2016 Bloomberg News O16AUI6KLVRF (Bloomberg) — Republican operatives are having a strange bromance with Bernie Sanders. During Sunday night’s Democratic debate, the Republican National Committee made the unusual move of sending no fewer than four real-time e-mails to reporters defending the self- described democratic socialist from attacks by Hillary Clinton.

‘He’s a Nasty Guy’: Trump Goes Off No Holds Barred on Cruz
©2016 Bloomberg News O14CGS6JIJUO (Bloomberg) — A rolling brawl between the two U.S. Republican presidential front-runners didn’t abate on Sunday as Donald Trump termed his closest competitor, Ted Cruz, “nasty” and the Texas senator stood his ground in criticizing the billionaire’s “New York values.” “He’s a nasty guy,” Trump said on

Iran to Make Life Worse for Gulf Rivals Tormented by Oil Slump
©2016 Bloomberg News O13WTI6JIJUO (Bloomberg) — As Iran emerges from a decade of international sanctions, its Gulf Arab rivals are facing their toughest economic predicament since the global financial crisis. Governments across the six-nation Gulf Cooperation Council are taking unprecedented measures to counter the slump in oil prices, curtailing some

Commodity Collapse Has More to Go as Funds Make Record Bear Bet
©2016 Bloomberg News O147796TTDS0 (Bloomberg) — The commodity meltdown that pushed oil to a 12-year low and copper to the cheapest since 2009 isn’t over yet. At least, that’s how hedge funds see it. Money managers increased their combined net-bearish position across 18 raw materials to the biggest ever, doubling