News 

A brutal email sent to young Wall Street bankers shows exactly why too much success can be a bad thing

“But the bank isn’t pointing to its growth as an excuse for having young bankers work all hours” writes Frank Chaparro for businessinsider.com. The company held a meeting to remind senior bankers to treat junior bankers with respect, Bloomberg reported.A brutal email sent out to junior bankers at independent investment bank Moelis & Co has been making the rounds on social media, and it shows how tough it can be for young Wall Streeters. Source: businessinsider.com Share This:

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Millionaire bankers on the rise in Europe in decade after crisis

“One executive in asset management topped the table, earning a 30 million euro bonus, taking home total pay of more than 33 million euros” writes Midwest Communications Inc for 95kqds.com. In 2016 Germany had just 253 bankers who earned more than one million euros and Paris had roughly 200, while London counted more than 3,500.FRANKFURT (Reuters) – Financiers in Europe earning more than 1 million euros ($1.23 million) rose by a third in the six years to 2016 to 4,597, with investment bankers and London dominant, data showed on Tuesday.The…

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Bankers tell House GOP to pass Senate banking bill

“On Monday, the bankers’ group noted that the Senate bill includes a number of measures that originated in the House” writes Ap Photo Jacquelyn for washingtonexaminer.com. The Senate bill, S. 2155, is a package of measures that would provide relief from some of the 2010 Dodd-Frank regulations for small and regional banks.House Republicans eager for more regulatory relief for banks are testing the patience of the banking industry. Source: washingtonexaminer.com Share This:

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Central bankers ‘worry’ about a trade war between China and US, says Norway governor

“The governor of Norway’s central bank has said that global trade tensions are giving him cause for concern” writes David Reid for cnbc.com. The U.S. president Donald Trump ignored warnings of a damaging trade war with China on Thursday, vowing an additional $100 billion of tariffs.”I think I join most economists around the world, especially governors of central banks, in saying that, yes, this is a worry,” he said. Source: cnbc.com Share This:

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News Stocks 

Profile of Spotify’s CFO Barry McCarthy as the company prepares for its unusual direct listing on NYSE this Tuesday

“That has all led to to Tuesday, when Spotify shares will trade freely for the first time” writes Apr Edt for recode.net. His Netflix pedigree, coupled with Spotify’s Netflix-like grow-fast-now, worry-about-profits later strategy, conveys an implicit promise to would-be Spotify investors: This is another consumer growth rocket ship.So if Spotify stock trades wildly in its opening days, or tanks in its opening months, McCarthy could end up as the poster child for Silicon Valley arrogance.Some spurned bankers are quietly rooting for Spotify and McCarthy to fail. Source: recode.net Share This:

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A federal court gave bankers a partial win Thursday in their never-ending fight with credit unions, issuing a ruling that could limit credit union size.

“A federal court gave bankers a partial win Thursday in their never-ending fight with credit unions, issuing a ruling that could limit credit union size” reports washingtonexaminer.com. The American Bankers Association filed the suit against the National Credit Union Administration, or NCUA, which regulates credit unions.The U.S. District Court for the District of Columbia ruled that two of the criteria established by federal regulators to define eligibility for credit union membership were too expansive.The bank industry frequently lobbies to limit the influence of credit unions, which compete with them for…

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Crypto News 

The Financial Stability Board,…

“The Financial Stability Board (FSB), the body that coordinates financial regulation for the G20, resisted calls from some members to regulate cryptocurrencies” reports newsbtc.com. Too little consensus was found during the Financial Stability Board (FSB) meeting to pursue radical action toward the cryptocurrency world.The cryptocurrency world may have started about ten years ago, but there’s still much room for improvement in its underlying technology.Europe has no cryptocurrency regulation and Bitcoin does not pose a threat to the Euro, in the eyes of the European Central Bank.In the meantime, the Winklevoss…

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Switzerland Tops for Cocaine Consumption…

“Zurich and Geneva were placed second and fifth in a survey of 60 European cities ranked by residual traces of cocaine in their wastewater” writes Hugo Miller for bloomberg.com. Scientists across Europe studied samples of wastewater provided by treatment plants for benzoylecgonine, the compound produced when humans metabolize cocaine.Swiss financial centers, shunned by some British hedge fund managers for lacking culture and nightlife, are vying with London in a less celebrated ranking: cocaine consumption. Source: bloomberg.com Share This:

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Markets News 

An inside look at CVS’ $40 billion bond deal, one of the biggest of all time, from the lead bankers’ perspective

“For the CVS deal, the firm served as joint active bookrunner, as well as marketing coordinator filling delivery on multiple tranches of debt” writes Joe Ciolli for businessinsider.com. The deal was the biggest corporate debt financing in more than two years, and the third-largest in history.CVS Health caught the attention of the entire investment community earlier this week when it completed a $40 billion debt financing in order to fund its massive $69 billion acquisition of Aetna.And with the Federal Reserve signaling at least three hikes by the end of…

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News Regulators 

Dollar skids as Treasury yields head lower in big week for central bankers

“In light of the current focus on Fed policy on interest rates, the lineup of central bank speakers this week is likely to get attention” writes Markets Reporter for marketwatch.com. Higher U.S. interest rates tend to boost the dollar because they can attract foreign investments, which spark demand for the greenback.Yields headed firmly lower on Friday after the Fed, in a report to Congress, gave no signs it plans to hike interest rates aggressively this year.The weakness in the dollar came as U.S. Treasury yields continued to slide and backed…

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