As we reported earlier, New York Times editors and reporters organized a walkout Thursday to protest a coming round of copy editor layoffs that could reduce the total number of editors employed at the organization from more than 100 to around 50.
With the Shiller CAPE index having surpassed the 30x for the first time since September 2001, its creator, Nobel Laureate and Yale School of Management Economics Professor Robert Shiller is warning investors that they should be cautious about investing in such an “unusual” market.
“… the CAPE index that John Campbell and I devised 30 years ago is at unusual highs.
The only time in history going back to 1881 when it has been higher are, A: 1929 and B: 2000.”
Prosecution called its first witness in the trial of former Turing Pharmaceutical CEO Martin Shkreli on Thursday. The witness, a former investor in one of Shkreli’s funds, alleged that Shkreli misled her about the fund’s performance, touting returns that were “too good to be true.”
With Illinois facing a Friday night deadline by which it has to come up with its first fiscal budget in three years or face a downgrade to junk resulting in what a policymaker called a "death spiral", another mini drama is taking place in Connecticut, which is also facing big budget problems as wealthy residents, hedge funds and major corporations flee the state's high taxes and its fiscal future gets murkier by the day.
Authored by Kevin Muir via The Macro Tourist,
This morning I have decided to write about US swap spreads. I know, you are already reaching for the delete key, but wait…
I tried to remember a time when swap spreads were exciting. I dug back into my memory, and tried to recall something that might spice up this snoozer of a topic.