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Morgan Stanley unveils a detailed strategy that has worked perfectly for 3 decades for trading one of the world’s largest markets around US holidays

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Fixed-income strategists at Morgan Stanley observed some interesting price action just before Thanksgiving last year: Treasurys were rallying even though yields were broadly headed higher. They then studied futures around every US holiday the bond market is closed and compiled the best long and short strategies that have worked every year since 1987. This strategy...
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More Americans are struggling to pay their credit cards, and what’s holding them back is only getting worse

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Late payments on credit-card debt remain on the rise.  This contrasts the trend in other forms of credit including auto loans and mortgages, where late payments of 30 days or more are on the decline.  Michael Pearce, an economist at Capital Economics, said higher interest rates have left more families struggling to pay promptly. Paying...
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Elon Musk had an interesting reaction to Trump and the Nobel Peace Prize being mentioned in the same sentence (TSLA)

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When asked whether President Donald Trump deserves the Nobel Peace Prize for helping spur denuclearization talks with North Korea, Elon Musk said, “I’m not one to judge.” The Tesla, SpaceX, and Boring Company CEO paused briefly when a celebrity photographer posed the question via TMZ. Musk’s face froze in bemusement before he said “I think...
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An inside look at Goldman’s shocking executive shakeup — which provides major hints about how the firm will be run in the future (GS)

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Goldman Sachs insiders were shocked Monday by the departure of securities coheads Pablo Salame and Isabelle Ealet. We spoke with more than half a dozen Goldman Sachs partners past and present, as well as close confidants to current partners, to understand what happened and what it means for the firm going forward. The exits are...
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PayPal’s $2.2 billion acquisition of Swedish card terminal startup iZettle makes perfect sense — and Square should be worried (PYPL, SQ)

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PayPal is buying the Swedish card-reading startup iZettle for $2.2 billion. The deal looks expensive at 20 times revenue and double iZettle’s expected initial-public-offering valuation. But iZettle’s in-store offering complements PayPal’s online prowess and gives PayPal a much more powerful sales pitch to take to businesses. PayPal plans to roll out iZettle to new international...
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Morgan Stanley figured out how much YouTube would be worth if it were a separate company, and it’s more valuable than Disney (GOOG, GOOGL)

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  If Google-owned YouTube were a standalone company, it would be worth more than IBM, Disney or Comcast, says Morgan Stanley. The investment bank says YouTube’s new music subscription service represents an opportunity to boost revenue growth. If Google’s YouTube were a standalone company, the world’s dominant video-sharing site would be worth more than big...
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