News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Decade of Easy Cash Turns Bond Market Upside Down

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The hunt for yield by investors has led to some crazy credit stories, such as how one bond fund helped revive the American Dream mall and why Portuguese bonds yield less than U.S. Treasurys.

Why It Isn't Yet Time to Worry About Emerging-Market Bonds

Despite yields on benchmark 10-year U.S. Treasurys ticking higher, edging above 2.70% this week, the reaction in emerging-market bonds has been muted.

House Money-Fund Bill Hits a Snag

A legislative effort to relax postcrisis money-fund rules is unlikely to come to the House floor in its current form, according to GOP aides.

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Wells Fargo Names Michael DeVito Head of Mortgage Division

Wells Fargo said Michael DeVito will lead its mortgage division, after assuming the role on an interim basis following an executive shake-up in late 2017.

JPMorgan Names Two Co-Presidents

JPMorgan Chase said business unit heads Daniel Pinto and Gordon Smith will become co-presidents and chief operating officers of the company effective Jan. 30.

MetLife: Pension Shortfall to Prompt Financial Revisions

MetLife postponed its earnings report and said it would revise prior financial reports because of overdue monthly pension benefits that it had failed to pay to possibly tens of thousands of workers in past years.

Justice Department Charges Eight Traders With Deceptive Futures Market Trading

Federal prosecutors charged eight traders with deceptive trading practices in the futures markets, and the CFTC announced related civil charges against three banks and six individuals, in the most significant action taken against banks for spoofing since last January.

Stephen Pitts Leaves Deutsche Bank for Bank of America

Stephen Pitts, a senior Deutsche Bank banker with close ties to tech giant SoftBank, is joining Bank of America, according to the banks.

Japan's Cryptocurrency Whiz Kid Faces $530 Million Reckoning

Coincheck founder Koichiro Wada wanted to make a splash in Japan's stodgy financial world. But engineers said he and his company put expansion ahead of security.

Long-Term Treasurys Signal Unease on Outlook

A recent climb in the yield on the benchmark 10-year U.S. Treasury note-it passed 2.70% Monday for the first time since April 2014-has prompted some investors to declare an end to a more-than-three-decade bull market in bonds. But the longest-dated Treasurys suggest otherwise.

(END) Dow Jones Newswires

January 30, 2018 07:15 ET (12:15 GMT)