Todays Markets

Bloomberg: Stocks Gain, Dollar Holds Advance, Italy in Focus: Markets Wrap
Asian stocks rounded out a volatile month with gains on Friday, with Japan’s Nikkei 225 Stock Average approaching its highest since 1991. Italy’s assets will be in focus after the country’s government set a wider budget deficit than some investors had anticipated. [more...]

Bloomberg: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal
Elon Musk is in jeopardy of losing control over the electric-car company he founded, with the Securities and Exchange Commission suing the billionaire for his explosive August tweet about taking Tesla Inc. private. [more...]

Bloomberg: Drone Hobbyists Angered by Congress Ending the Aerial Wild West
The Wild West days of unregulated recreational drones may be nearing an end. A bill close to passage in Congress would repeal the current exemption for hobbyists from regulations and for the first time require them to take a test before flying. [more...]

Bloomberg: Boss Wanted to Rig Libor as Others Do, Deutsche Bank Trader Says
A former Deutsche Bank AG employee said his boss was so frustrated that trading positions were undermined by competitors he believed were manipulating the benchmark Libor lending rate that he ordered subordinates to take steps to rig the measure in their favor. [more...]

Bloomberg: Crypto and Cannabis Are the Perfect Post-Crisis Bubbles
The economist John Maynard Keynes wrote: “The game of professional investment is intolerably boring and over-exacting to anyone who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll.” [more...]

Bloomberg: Brexit Starting to Loosen London’s Grip on Interest-Rate Swaps
When a bank or fund fails, LCH is the valve that protects the rest of the system. When Lehman Brothers collapsed, it had $9 trillion of outstanding swaps at LCH; the clearinghouse wound down the portfolio without using any of the collateral of its other member banks. Stability was preserved. [more...]

Bloomberg: Treasury Yields Just Turned Negative for Europe, Japanese Buyers
Benchmark 10-year Treasuries have rarely yielded more than their German counterparts -- but if you’re a euro-based investor, you’d be better off staying home. [more...]

Reuters: Nikkei hits 27-year high on strong dollar, Wall Street gains
Japan’s Nikkei hit a 27-year high on Friday, taking heart from a boost for the dollar after the Federal Reserve chairman said he did not expect a near-term recession, and strong gains on Wall Street overnight. [more...]

Reuters: Canada sticks to plan to stay at NAFTA talks despite Trump attack
Canada on Thursday shrugged off U.S. President Donald Trump’s criticism that talks to modernize NAFTA were moving too slowly and made clear it had to keep negotiating as long as there was a chance of success. [more...]

CNBC: SEC says Musk chose $420 price for Tesla shares because it's a pot reference
Tesla CEO Elon Musk picked $420 as the share price for possibly taking the company private in August because it is a reference to pot culture, the Securities and Exchange Commission (SEC) alleged on Thursday during a news conference. [more...]

CNBC: Elon Musk calls SEC fraud lawsuit 'unjustified,' says he acted in best interests of investors
Tesla CEO Elon Musk on Thursday called the SEC's allegations of fraud "unjustified" and said he acted in the best interests of investors. [more...]