FAI: Bond markets are getting hammered
Bond markets all over the world are getting demolished after the European Central Bank announced it would extend its quantitative-easing program until at least December 2017 but would scale down its asset purchases to €60 billion a month from €80 billion.
Elsewhere in markets news, Italy's "No" vote is the death knell for structural reforms, according to Alliance Bernstein. And one thing will define the winners and losers in markets next year, according to Bank of America Merrill Lynch.There's a "prototypical" hedge fund manager, and if you're not it, you're screwed.
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The Securities and Exchange Commission may be about to shine a spotlight on one of the hot topics in Wall Street trading. And a new HBO documentary is going behind-the-scenes into Warren Buffett's life .
And here's a roundup of stories from across Wall Street:
President-elect Donald Trump has gotten into a war of words with a union president.
United Steelworkers Local 1999 President Chuck Jones said that Trump had "lied his a-- off"over how many jobs were saved at a Carrier plant in Indiana. Trump then fired back, saying Jones had "done a terrible job representing workers." Jones responded, criticizing Trump for not knowing how many "damn jobs" were being saved in a heavily promoted deal."A lot of people just think it's crazy we have the president going on Twitter, going after private citizens," T.J. Bray, a Carrier worker who serves as a media representative for USW Local 1999, told Business Insider. "I really don't have any word for it. Hopefully he can be more presidential."
In Wall Street news, Credit Suisse just hired analyst Bob Peck to head its internet banking team. Barclays, HSBC, and UBS were allegedly involved in rigging the silver market. And Prince Harry tried out being a trader for a day to raise money for charity.
A fast-food CEO who says machines are the answer to rising wages is expected to be named Trump's next labor secretary. Chipotle's CEO made a stunning admission about a grave problem plaguing the brand.
Sears is 'set to sink' as stores close, executives flee, and the CFO admits the brand is falling short .
In tech news, one of Amazon's most "underappreciated" businesses are already way ahead of Apple and Google
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Lastly, there's now a $75 million private jet for your inner Texas oil tycoon.