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Fannie Watchdog Willing to Wipe Out Shareholders If Necessary

(Bloomberg) — Fannie Mae and Freddie Mac’s regulator said he would be willing take steps that would wipe out shareholders of the mortgage giants if circumstances called for it.“I work for the taxpayers,” Federal Housing Finance Agency Director Mark Calabria said Tuesday at a House Financial Services Committee hearing on the Trump administration’s proposal for ending U.S. control of the companies.Calabria was responding to questions from Representative Bill Foster, an Illinois Democrat, about whether hedge funds including Paulson & Co. stood to reap windfalls under the plan released by the Treasury Department last month. He said that while it isn’t …read more […]

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Mnuchin: Facebook's Libra launch was premature

Treasury Secretary Steve Mnuchin stated that he met multiple times with representatives from Facebook and told them that their launch for LIbra was premature, as they haven’t addressed “fundamental issues,” including the prevention of money laundering and other illicit activity. Yahoo Finance’s Adam Shapiro, Julie Hyman and Jessica Smith discuss on On the Move. …read more […]

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Don’t Buy Into China’s Bull

China has been a leader in global wealth for some time, but many factors – trade war included – are slowing its economic growth.
There are several schools of thought on how the China miracle will play out, but one thing is for certain: Nicholas Vardy isn’t buying the China bull.

The latest news about the Chinese economy is in. And it’s not good.
China’s GDP grew at 6% in the third quarter of 2019. That’s the slowest pace since 1992.
The trade war with the U.S. is hitting home. China’s exports fell 3.2% year over year in September alone. Add declining income growth, …read more […]

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Hedge Funds Bailed Out of Teva Pharmaceutical Industries (TEVA) At the Right Time

Many investors, including Paul Tudor Jones or Stan Druckenmiller, have been saying before the Q4 market crash that the stock market is overvalued due to a low interest rate environment that leads to companies swapping their equity for debt and focusing mostly on short-term performance such as beating the quarterly earnings estimates. In the first […] …read more […]

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Were Hedge Funds Right About Souring On Apache Corporation (APA)?

Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter of 2018. Trends reversed 180 degrees during the first half of 2019 amid Powell’s pivot and optimistic expectations towards a trade deal with China. Hedge funds and institutional investors tracked by Insider Monkey usually invest a […] …read more […]

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OPEC, allies to mull deeper oil cut amid worries over demand growth

DUBAI/MOSCOW/LONDON (Reuters) – OPEC and its allies will consider whether to deepen cuts to crude supply when they next meet in December due to worries about weak demand growth in 2020, sources from the oil-producing club said. Saudi Arabia, OPEC’s de facto leader, wants to focus first on boosting adherence to the group’s production-reduction pact with Russia and other non-members, an alliance known as OPEC+, before committing to more cuts, the sources said. OPEC members Iraq and Nigeria are among the countries that have failed to comply properly with pledged output reductions. …read more […]

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What are Bonds and How Do They Work?

Our bond expert, Steve McDonald, teaches you how to profit from bonds. He’s been an active trader for more than two decades and knows all there is to know about bonds. However, not everyone is as knowledgeable. So today we’re going to take a step back and answer an important question: What are bonds?
What Are Bonds?
Our economy runs on debt. And bonds are an integral piece of the debt structure. They allow governments to function and companies to grow. Without bonds, large organizations vital to the economy would collapse.
Bonds are loans made to large organizations. And when you buy a …read more […]

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Novartis data suggest payers getting breaks on gene therapy Zolgensma

Novartis sales data on Tuesday suggested the Swiss drugmaker is reaping less than the $2.1 million U.S. list price for its gene therapy Zolgensma, as insurers may be getting breaks on the world’s most-expensive one-time treatment. The spinal muscular atrophy (SMA) treatment, approved by the U.S. Food and Drug Administration in May, has reaped $175 million in revenue this year, including $160 million in the third quarter. On a call following third-quarter results, Chief Executive Vas Narasimhan said roughly 100 patients have been treated under the paid program. …read more […]

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McDonald's, P&G earnings leave major indexes mixed

Big name companies like McDonald’s and P&G reported earnings that left major indexes mixed. Global Market Strategist at Invesco Brian Levitt and Chief Investment Officer of Liquid Strategies Shawn Gibson join Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Jared Blikre to discuss. …read more […]