Morning Roundup: Bank Breakup Rules Coming Soon

  • Breaking up is hard to do, especially when the separation involves components of systemically important financial institutions. The FDIC is expected to offer a helping hand today by outlining new rules that would change the haircut taken by creditors to giant firms in the event of a failure. [WSJ]
  • ’80s retro fever is back in the form of a resurging junk-bond market. [NYT]
  • Killjoy St. Louis Fed president James Bullard says that the U.S. economy is probably not headed for another recession, and so he refuses to guarantee that the Fed will provide more monetary stimulus. [Bloomberg]
  • The big September employment report is in! The Bureau of Labor Statistics says the economy lost 95,000 jobs last month, and the unemployment rate remains at an impressively sickly 9.6 percent. [Department of Labor]
  • Some people won some Nobel Prizes, but the economics accolades won’t be awarded until Monday. Sit tight, nerds. [AP]

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