Most Clicked CFA Institute Financial NewsBrief Stories


1. Fed's massive bond portfolio has market participants anxious

CFA Institute Financial NewsBrief | May 27, 2015

Asset managers are concerned about how the Federal Reserve will dispose of $4 trillion in bonds it has accumulated through quantitative easing. Financial Times (tiered subscription model) (26 May.)


2. IRS: Cybercriminals stole more than 100,000 tax returns

CFA Institute Financial NewsBrief | May 27, 2015

Cyberthieves used an application on the IRS website to steal tax returns of more than 100,000 people, the agency said. Criminals used the data to file fraudulent tax returns seeking refunds. The agency paid out almost $50 million before the scheme was detected. The New York Times (tiered subscription model) (26 May.)


3. Japan's inflation rate falls to zero, central bank says

CFA Institute Financial NewsBrief | May 29, 2015

The Bank of Japan said its key inflation indicator fell to zero in April, calling into question the chance that loose monetary policy will drive inflation up to 2%. Consumer spending and industrial production have fallen, and jobless workers are abandoning the labor market, the central bank said. Bloomberg (28 May.) The Wall Street Journal (tiered subscription model) (29 May.)


4. Greek default could damage world economy, Lew says

CFA Institute Financial NewsBrief | Jun 01, 2015

U.S. Treasury Secretary Jack Lew has appealed to the EU to resolve Greece's financial crisis as quickly as possible, warning that a Greek default or exit from the eurozone could harm the global economy. "It would be unwise to think that just because technical contagion has been changed from earlier years, in that debt is now held by sovereigns as opposed to banks, that we know what the full consequence of a financial crisis or the withdrawal of a country from the monetary union of Europe would mean," Lew said at the conclusion of a Group of Seven summit in Germany. Deutsche Welle (Germany) (29 May.) Market News International (29 May.)


5. BlackRock CEO: Low interest rates create "structural problems"

CFA Institute Financial NewsBrief | May 28, 2015

Pension funds and insurers are being harmed by low interest rates intended to boost global economic growth, said Larry Fink, BlackRock's chairman and CEO. Companies are "having more structural problems than ever before" in meeting rising liability without sufficiently yielding assets, he said. Reuters (27 May.)


6. GE begins divestiture of $40B of U.S. lending business

CFA Institute Financial NewsBrief | Jun 01, 2015

General Electric has formally begun the search for buyers of $40 billion worth of its commercial-lending business in the U.S. The business units could be sold separately or as a single entity, people familiar with the matter said. The divestiture is part of GE's move to reduce the size of its lending operations to get out from under intensified regulation by the Federal Reserve as a systemically important financial institution. Reuters (31 May.) The Wall Street Journal (tiered subscription model) (01 Jun.)


7. IMF's Lagarde sees potential Greek exit from eurozone

CFA Institute Financial NewsBrief | May 29, 2015

Greece could exit the eurozone, but the move likely would not end the currency, says Christine Lagarde, managing director of the International Monetary Fund. She has ruled out additional payments by the IMF without a deal between Greece and creditors, according to German newspaper Frankfurter Allgemeine Zeitung. Market News International (28 May.) Financial Times (tiered subscription model) (28 May.)


8. Fed: Retirement savings, pensions lacking among workers

CFA Institute Financial NewsBrief | May 28, 2015

Nearly one-third of U.S. workers have no pension or retirement savings, according to a Federal Reserve survey. Of more than 5,800 respondents, 38% intend to work as long as possible or do not plan to retire. Reuters (27 May.)


9. Survey: Many rich young Americans have no adviser

CFA Institute Financial NewsBrief | May 29, 2015

Less than half of multimillionaires ages 18 to 34 use a financial adviser or some type of financial professional, according to a survey commissioned by U.S. Trust. The majority's resistance exists despite the demographic's high interest in alternative investment. InvestmentNews (free registration) (28 May.)


10. JPMorgan faces scrutiny from regulators

CFA Institute Financial NewsBrief | May 27, 2015

JPMorgan Chase must obtain permission from the U.S. Department of Labor to continue managing money for private pensions, after pleading guilty to currency manipulation. Meanwhile, the Securities and Exchange Commission is investigating possible conflicts of interest in the bank's wealth-management unit, which sells products including individual retirement accounts. Bloomberg (26 May.)