Barron’s: The Future Ain’t What it Used to Be, So Borrow Now. Microsoft’s reported plan to borrow to pay dividends speaks to the existential crisis facing investors who need current income.
BBC: Cuba to cut a million public jobs. Those laid off will be encouraged to become self-employed or join new private enterprises, on which some of the current restrictions will be eased.
Bloomberg: SEC Questions Trading Crusade as Market Makers Disappear.The U.S. Securities and Exchange Commission has spent 15 years remaking the stock market into 11 competing exchanges and hundreds of computer-driven traders. In the process it has virtually eliminated the traditional market makers who bought and sold stocks when no one else would.
Bulls via Wikipedia
BusinessWeek: Wall Street Banking on Republican Congress. The financial community hopes a GOP surge will restrain federal agencies gearing up to write new regulations. Divided government is the goal.
CNBC: Yuan at New High, China Seen Under Pressure. The yuan hit a fresh post-revaluation high against the dollar on Tuesday, with Beijing seen conceding to let the yuan rise as U.S. lawmakers urge for tough action on China.
Forbes: Senate GOP To Oppose Tax Increase.
Some Democrats, like Sens. Kent Conrad of North Dakota, Evan Bayh of Indiana and Ben Nelson of Nebraska, are siding with Republicans against raising taxes on anyone during a fragile economic recovery.
MarketWatch: Yen move could feed Aussie bulls: History suggests that Japan’s currency could provide further ammunition for gains in high-yielding currencies from commodity-focused economies, such as the Australian dollar.
Reuters: AIG formulating plan to exit government ownership: report.
The Economist: The supply of inequality. Europe, America, and skills-biased technological change.
The Business Insider:Here’s how hyperinflation will happen in America.
The Financial Times: Opec at 50: cartel faces new challenges.
The Guardian: Consumer confidence on rise. Nationwide survey shows increased optimism about the recovery for the first time since the election after three months of falling confidence.
The New York Times: For the Bad News Bulls, Adversity Is Opportunity. At a time when hedge funds seem gripped by fear, a few big-name investors are betting on large companies that are increasing their sales in China, Brazil and India.
The Telegraph: Cats, dogs and bull’s sperm. Cash in on our obsession with animals, says Questor’s Gary White.
The Wall Street Journal: Rafael Nadal, Finally, Wins U.S. Open. Rafael Nadal won his first U.S. Open title after a nearly two-hour rain delay, 6-4, 5-7, 6-4, 6-2 over Novak Djokovic. Nadal has now won all four Grand Slam tournaments at least once.