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Trump and Kim Can Learn a Thing or Two From Singapore

U.S. President Donald Trump and North Korean leader Kim Jong Un are spending such a short amount of time in Singapore this week. Maybe they should stick around longer to see what makes its economy tick. Singapore is an especially wealthy nation, with a per capita income of bonuses attached that can double that sum for excellent performance. Is Peace With Kim Jong Un Even Possible? Yet it’s not just about the money. Since independence in 1965, Singaporean leaders have cultivated an ethos of public service in the bureaucracy. The…

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The Hedge Fund Summer Reading List

It’s that time of year again: summer reading season. While for many that means books for the beach, some emerging-market fund managers are yearning for titles that shed light on buying opportunities in Asia as well as the human psychology behind investing decisions. Asha Mehta, who oversees emerging markets at Acadian Asset Management in Boston, said she’s eager to crack Evan Osnos’s "Easternization: Asia’s Rise and America’s Decline From Obama to Trump and Beyond," which looks at how the rising wealth of Asian nations is shifting the balance of power…

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Stocks Tumble in Biggest Weekly Decline Since 2016: Markets Wrap

Dow Jones Industrials lost more than 1,400 points in the week Crude oil registers largest five-day increase since July data showed European growth sputtering. The tech heavy Nasdaq 100 dropped 7.3 percent this week, the most since 2015. Traders had already been bracing for the possibility of slowing expansion as the Federal Reserve reiterated its commitment to further interest-rate increases after Wednesday’s hike. “There is a tug of war between Fed tightening, fiscal stimulus, strong earning but slowing sales and now tariffs and potential trade wars,” said Jason Browne, chief…

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YouTube Bans Firearms Demo Videos, Entering the Gun Control Debate

Google’s new policy prohibits promotion of guns, bump stocks At least one video gun blogger ditched YouTube for PornHub greater restrictions on content several times in the past year, responding to a series of issues with inappropriate and offensive videos. Most of those changes involved pulling ads from categories of videos. Google is more reluctant to remove entire videos from YouTube, but has been willing to do so with terrorism-related content. The National Shooting Sports Foundation, a gun industry lobbying group, called YouTube’s new policy “worrisome.” “We suspect it will…

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Goldman Says Stocks May Dive 25% If 10-Year Yield Hits 4.5%

If the 10-year U.S. Treasury yield hits 4.5 percent by year-end, the economy would probably muddle through — stocks, not so much, according to Goldman Sachs Group Inc. Goldman’s base-case scenario calls for a 10-year yield of 3.25 percent by the end of 2018, though a “stress test” out to 4.5 percent indicates such a move would cause stocks to tumble, economist Daan Struyven wrote in a note Saturday. He also said the economy would probably suffer a sharp slowdown but not a recession. “A rise in rates to 4.5…

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Bond-Stock Clash Has Just Begun as Inflation Looms

The tug-of-war between stocks and bonds is at the heart of the shakeout roiling financial markets. This week’s U.S. inflation report could hold the key to the next phase. Seemingly every time 10-year Treasury yields approached a four-year high last week, equities investors panicked, fearing the specter of higher inflation and a more aggressive pace of Federal Reserve rate hikes. Whether you want to say Treasuries are in a bear market or not, the surge in yields to start 2018 has left investors reassessing the value of equities and corporate bonds.…

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Global Equity Slump Deepens as Rate Fears Grow: Markets Wrap

Asian equities fell and U.S. stock futures headed lower, extending the biggest selloff for global stocks in two years as investors adjusted to a surge in global bond yields. Shares sank across the region, putting the MSCI Asia Pacific Index on course for its biggest drop in almost 14 months. Benchmarks in Tokyo tumbled more than 2 percent, while S&P 500 Index futures were 0.4 percent lower. The 10-year Treasury yield neared 2.87 percent after solid jobs data on Friday showed rising wages. The yen advanced. “It’s likely the pullback…

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Amazon, Berkshire, JPMorgan Link Up to Form New Health-Care Company

It’s no secret Jeff Bezos has been looking to crack health care. But no one expected him to pull in Warren Buffett and Jamie Dimon, too. News Tuesday that Bezos’s Amazon.com Inc., Buffett’s Berkshire Hathaway Inc. and JPMorgan Chase & Co., led by Dimon, plan to join forces to change how health care is provided to their combined 1 million U.S. employees sent shock waves through the health-care industry. The plan, while in early stages and focused solely on the three giants’ staff for now, seems almost certain to set its…

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This Rare Bear Who Called the Crash Warns Housing Is Too Hot Again

When real estate investors get this confident, money manager James Stack gets nervous. U.S. home prices are surging to new records. Homebuilder stocks last year outperformed all other groups. And bears? They’re now an endangered species. Stack, 66, who manages $1.3 billion for people with a high net worth, predicted the housing crash in 2005, just before prices reached their peak. Now, from his perch in Whitefish, Montana, he says his “Housing Bubble Bellwether Barometer” of homebuilder and mortgage company stocks, which jumped 80 percent in the past year, once again…

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Asia Stocks Rise as Earnings Awaited, Won Weakens: Markets Wrap

Asian equities edged higher ahead of the start of the region’s earnings season this week, with investors betting that the outlook for economic growth and profits is strong enough to support record-high stock prices. The Korean won fell. Shares from Sydney to Seoul climbed with markets in Tokyo closed Monday for a holiday. Samsung Electronics Co. and a slew of Japanese retailers and manufacturers are among companies giving profit updates this week. South Korea’s currency reversed gains as authorities said they would take action to stem one-sided moves in the won. Oil…

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No Idea What MiFID Stands For? Here’s What You Need to Know

Everyone in European finance has been abuzz over an obscure acronym — MiFID II — that’s about to radically change how assets from stocks to commodities are traded and investors’ money is managed. Banks and asset managers across the European Union have spent more than $2 billion preparing for it. Regulators say it will protect investors, boost transparency and rebuild trust that was tarnished by the 2008 global crash. The industry has even spent months finding ways to sidestep parts of it. But you’d be forgiven for not paying attention:…

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From Bitcoin to Belize, Here Are Best and Worst Assets of 2017

It was a great year to hold bitcoin, but a bad time to have been invested in the Uzbek soum. As 2017 winds to a close, a look at the winners and losers around the globe shows that, broadly speaking, the riskiest assets performed well, with bullish sentiment on display in stocks, emerging-market sovereigns and corporate debt. Securities generally seen as the safest and least volatile bets — think Japanese government bonds — trailed behind. There was perhaps no investing idea that attracted more attention in 2017 than cryptocurrencies, from Jamie…

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Worlds Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.   Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks. “Our perspective here is to spread the risks for the…

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