Your Daily Dose of Financial News

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Fallout from the VW emissions-rigging scandal is picking up pace with the resignation of CEO Martin Winterkorn. Breakingviews suggests that bank-style pay clawback may be on the table for the man who was until very recently one of Germany’s “highest-paid bosses” – NYTimes

Today’s “New Bond Market” feature from the Journal looks at the rise of algorithms and computerized trading strategies in the Treasurys market which, by one estimate, account for 60% of activity in electronic Treasury trading – WSJ

Perhaps unsurprisingly, regulators are struggling to keep up with this brave new world – WSJ

Also, the BOE’s dropping some bond market liquidity knowledge on us this week.  Keep an eye out – WSJ

Dealbook profiles a handful of hedge funds taking some large chances on the belief that China’s renminbi hasn’t hit bottom yet – NYTimes

AIG and a group of GE pension and  investment funds reached a deal yesterday to resolve the funds’ allegations that the insurer misrepresented the health of its MBS in the midst of the housing market collapse.  The agreement came a week after SDNY Judge Laura Swain axed the funds’ Exchange Act claims as time-barred – Law360

A decades-late migration to chip & pin (or EMV) technology among US retailers will mean dipping instead of swiping, a potentially scary liability shift for the upwards of 70% of merchants unready for the change, and increased in-person fraud protection for those who have embraced the change – NYTimes

I’m not guessing it garners much sympathy, but the SEC seems to be taking it on the chin once again.  At the same time it’s once again defending the constitutionality of the mere existence of its in-house court system, the agency is facing allegations by an Emory law professor that it’s been inflating its enforcement statistics in order to make the number of cases it pursues and awards recovered appear larger – Law360

For the record, BBG thinks it’s time for the Fed to move off of zero.  Also for the record, I wore my tie like Big Billy the other day after a workout.  Gotta say, really does make one feel like a titan of the financial world – WSJ

Let’s drop into the national pastime for a minute to enjoy one national treasure (Vin Scully) talking about the legacy and recent passing of another (Yogi Berra) – Deadspin

 

MDR

Follow me on Twitter: @reifmd

 

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