Bankers were thrilled last year when Wall Street bonuses climbed for the first time in years after falling more than 15% in 2015. But unfortunately, even with equity markets around the world at record highs in 2017, volatility across asset class plunged this year - with the Dow seeing its least volatile year on record by some measures - has plunged, decimating bonus pools across asset classes, Bloomberg said.
Authored by Bryce Coward via Knowledge Leaders Capital blog,
Investors were finally treated yesterday to some of the most important compromise provisions to come out of the House-Senate conference on the Tax Cuts and Jobs Act. Among them were:
Authored by Lance Roberts via RealInvestmentAdvice.com,
On Friday, Kevin Brady of the House Ways and Means Committee was on my radio program discussing the “Tax Cuts & Jobs Act” bill which was released later in the day.
https://w.soundcloud.com/player/
Here are the details of the release he referenced in the interview.
Of course, the real question is how are you going to “pay for it?”
Two weeks ago, as part of our continuing coverage of the Steinhoff fiasco in which it emerged that the ECB was the mystery and (not so) proud buyer of just issued Steinhoff (now junk) bonds (maturing in 2025 but set for bankruptcy much sooner) and which lost more than half of their value overnight when it the company announced it was caught in what may be a terminal accounting fraud scandal, we said that ", it seems virtually guaranteed that the banks will suffer steep haircuts on their Steinhoff exposure" and "so will the ECB, which on Friday was rumored it was considering selling
Authored by Mike Shedlock via www.themaven.net/mishtalk,
Ten percent of corporations survive only because central banks have kept real interest rates negative.
The BIS defines Zombie firms as those with a ratio of earnings before interest and taxes to interest expenses below one, with the firm aged 10 years or more.
In simple terms, Zombies are those firms that could not survive without a flow of cheap financing.