<i>Breakfast with Benjamin:</i> Private equity giant KKR finds expanding beyond the HNW crowd is not so easy and shuts two retail-focused funds. Plus: Gold jumps on Yellen preview, fund manager changes lead to Morningstar updates, Barclays cuts 12,000 jobs, and another day, another Obamacare delay.
Economists say initial cut sets the mold as Bernanke emphasizes flexibility.
Long-awaited first step in program to cut back monthly purchases to support recovery
From futures to derivatives, traders don't see the Federal Reserve raising its benchmark interest rate from a record low until nine months after policymakers end their monthly bond purchases of $85 billion, or late 2015.
Subpar performance prompted investors to pull money for the 18th consecutive quarter.
“It's a very large source of demand” from the pension funds, said Jeffrey Gundlach, chief executive officer of DoubleLine Capital LP.
Elimination of the tax break is unlikely amid Washington political divide.
Central bank "wants to be out" of the bond-buying business but still won't raise rates, according to Pimco's Gross.
Today's Breakfast with Benjamin includes: Goldman's stock market call, a closer look at Fed policy, lawyers pick apart Volcker rule, retailers and cyber security, combining IRAs, and how not to ignore your client's wife.
Breakfast with (<i>InvestmentNews</i> senior columnist Jeff) Benjamin: Going back to basics with bond funds; breaking down the jobs report; Wall Street confronts a big mortgage settlement; Chinese exports falter; the polar vortex and natural gas prices; and retailers' bad holiday season.
Breakfast with Benjamin: Did the Fed make the right move with tapering? We'll know this week. Plus: Hot stocks for cold weather, missing out on the market, consumer sentiment looks bright, office vacancy rates still hurting, and the minimum wage debate.
In speech to fellow economists, Fed chief reflects on eight-year tenure.
<i>Breakfast with Benjamin:</i> Janet Yellen takes the helm (and the heat). Plus, data breach at Barclays, Pimco's guide to reducing volatility, investing when you're really scared, and investing when you're in love.
Dan Fuss, whose Loomis Sayles Bond Fund is trouncing almost all of its peers, says he's preparing for rising rates and focusing on 'improving credits' by cutting his long-term debt position. He's on the same page as another big bond manager.
In today's Breakfast with Benjamin: Two big investment houses recommend exiting emerging markets. Also: Credit Suisse offloads risky assets, investment gurus get nervous about 2014, cold weather and a weak economy, and what will cost more this year.
Goldman Sachs Asset Management is giving its fixed-income alternatives fund lineup a boost by converting its nontraded Credit Strategies Fund into a new liquid-alternatives-bond fund. Goldman plans to fold the $448 million fund, which offers only limited, quarterly share repurchases, into the yet-to-be launched open-end Goldman Sachs Long Short Credit Strategies Fund, pending shareholder approval, according to a filing with the Securities and Exchange Commission.
The search for new portfolio ballast
Pimco's co-CIO says central banks pushing investors to riskier assets but that policy has limits.
Neuberger is cautious for the near term but says sector could shine down the road
