News Highlights: Top Financial Services News of the Day

11/27/17 12:15 AM EST
The Dow's Lightweight Title 

GE stock has entrenched itself as the lowest-weighted component in the Dow.

Powell's Confirmation May Lack Drama of Other Fed Nominee Battles 

Jerome Powell is likely to sail through confirmation to be the next Federal Reserve leader, even though the process of filling Fed positions has grown increasingly politicized since the days when Ben Bernanke was confirmed as chairman by a voice vote with little opposition.

Fed's Plan for 2017 Nears Completion, but View for 2018 Is Fuzzy 

Fed officials are set to raise interest rates in December, delivering on their projections at the start of 2017 for three rate increases plus the start of the shrinking of their bond portfolio. But their chance for a repeat in 2018 is clouded by conflicting signals on employment and inflation.

Highland Capital Used False Pretexts in Ousting of Portfolio Manager, Panel Finds 

A panel found that fund management company Highland Capital used pretexts and false allegations of a sexual relationship with a subordinate to fire a portfolio manager without paying millions of dollars it owed him.

White House Says Former CFPB Chief Is Provoking a Conflict 

A senior White House official criticized the former head of the Consumer Financial Protection Bureau for "provoking" a legal challenge, a day after the president and the CFPB named two different people to serve as temporary director, raising questions about the agency's leadership.

Regulators to Meet in December on Global Bank Capital Rules 

The international body that oversees banking regulation said Friday it would hold a press conference Dec. 7, an indication that new global bank capital rules may finally be agreed on.

CFTC Chief Works to Tweak, Not Decimate, Obama-Era Rules 

J. Christopher Giancarlo moved to the top job at the Commodity Futures Trading Commission this year from a minority commissioner's role, giving him a chance to push for changes on Obama-era derivatives regulations that he has criticized.

Out of Africa: KKR Disbands African Private-Equity Team 

KKR has disbanded its Africa deal team after making just one investment on the continent because it couldn't find enough big companies to buy.

Huge TIPS Fund Inflow Bucks Slow-Mo Inflation Consensus 

Mutual funds and exchange-traded funds targeting inflation-protected Treasurys, known as TIPS, pulled in $1.2 billion in the week ended Wednesday, according to Bank of America Merrill Lynch and EPFR Global. The influx represented the largest draw since November 2016 and was the third-largest inflow on record.

It's Not the Leverage, It's the Illiquidity That Will Hurt 

Too much short-term debt backing long-term assets fueled the last credit bubble a decade ago. This time round, investors are hunting for yield in hard-to-trade, often private assets.


(END) Dow Jones Newswires

November 27, 2017 00:15 ET (05:15 GMT)

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