Wall Street Roundup: A rising yuan. Final stretch for bank reform
A rising yuan. China's currency rose on Monday after the Chinese government succumbed to global pressure and announced over the weekend that it would allow its undervalued currency to rise in value -- though not without limitations.
Final stretch for bank reform. Bank lobbyists are working overtime as the financial reform bill nears completion. The Volcker rule, derivatives legislation and auto financing are all subject for argument.
The problem with computers. Clients of a hedge fund that uses algorithmic computer trading, run by AXA Rosenberg, were told that their portfolios may have been effected by a "coding error," raising fears about the degree to which human error can be multiplied by computer trading.
-- Nathaniel Popper