Opening Bell: 1.13.16

Everyone (in DC) (supposedly) hates Wall Street; BofA economist says chill; "Cops: Woman Battered Fiancee Over Ring Regift"; and more.
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GOP, Democrats Agree: We Hate Wall Street (WSJ)
Democratic challenger Bernie Sanders has said “fraud is the business model of Wall Street,” while party front-runner Hillary Clinton has vowed to rein in risky financial activity. In the Republican Party, where financial firms typically can count on a friend, Sen. Marco Rubio has said big banks have been “bragging” that they are too big to fail and that he would repeal the law that grants that status. Ohio Gov. John Kasich has said Wall Street needs “a good ethics lesson...on a regular basis.” Sen. Ted Cruz has said he wouldn’t bail out “rich Wall Street banks.” Even former Florida Gov. Jeb Bush, who worked at Lehman Brothers and Barclays PLC, has said banks should be required to hold even more capital. The bashfest has put banks in a quandary: Do they defend themselves or sit it out?

Goldman Sachs Sees Governments Coming to ECB Rescue on Stimulus (Bloomberg)
As the ECB president goes all-in on monetary easing to nurture growth and inflation in the 19-nation currency bloc, governments are now heeding his call for more stimulative fiscal policies, according to Goldman Sachs Group Inc. Francesco Garzarelli, London-based co-head of fixed-income strategy at the bank, predicts the measures will boost gross domestic product by 0.4 percentage point this year.

AB InBev Said to Market Debt to Help Finance SABMiller Takeover (Bloomberg)
AB InBev is selling debt in as many as eight parts with maturities ranging between three and 30 years, according to a person familiar with the matter who asked not to be identified because they’re not authorized to speak publicly.

Trial Date Is Set for Six Accused of Rigging Benchmark Interest Rate (Dealbook)
Six current and former employees of Barclays and Deutsche Bank are to go on trial in September on criminal charges that they conspired to manipulate a global benchmark interest rate, a British court decided on Wednesday.

Cops: Woman Battered Fiancee Over Ring Regift (TSG)
Investigators allege that Inga Daftartiene, 43, battered Bengt Nyquist during a confrontation Friday night in the master bedroom of their Vero Beach home. As detailed in an arrest affidavit, Nyquist was lying in bed while Daftartiene was downstairs watching TV and drinking wine. At some point, Daftariene began “looking through old photos of Nyquist and noticed a picture of Nyquist and his ex-girlfriend,” cops noted. The photo apparently showed Nyquist’s ex wearing the same engagement ring that sat on a Daftartiene finger. Nyquist told cops that, “Inga stormed upstairs and began screaming" at him about the engagement ring. While Nyquist denied regifting the ring, Daftariene allegedly “grabbed a metal object that was attached to the bed” and “threw it at Nyquist’s head, striking him on the left side of the face.” Nyquist said that Daftartiene became angry when he called 911, and that she chased after him and sought to punch him in the face.

Take a deep breath and relax: BofA economist (CNBC)
Bank of America Merrill Lynch's Ethan Harris said that rather than fret over uncertainty in China, investors should look at the market for what it really is: overdone. "I think that the market is overwhelmed with too many blindside hits," Harris said Tuesday. "You had geopolitical concerns around the Middle East and North Korea, you had weakness in the equity market and currency market in China, you had a little bit of soft data, and if you put it all together it was just a little bit too much for the equity market."

Icahn says he does not have any position in Time Warner (Reuters)
Billionaire activist investor Carl Icahn said on Tuesday he did not own any stake in media company Time Warner Inc. "I have no position in Time Warner. No options, no forwards, no stock," Icahn said when reached by phone. Reuters and the New York Post reported on Monday, citing anonymous sources, that Icahn was building an equity stake in Time Warner.

Computer Mogul Michael Dell Stands to Reap Billions From FCC Auction (WSJ)
In more than a dozen deals since 2011, a company controlled by Mr. Dell’s investment fund has spent about $80 million on independent TV stations, according to government records...Those stations collectively broadcast over airwaves that could be valued at as much as $4.2 billion, based on prices recently set by the Federal Communications Commission. The agency is gearing up to run an auction to buy those airwaves, so they can be resold to wireless operators like AT&T Inc. later this year.

Who robs a monk buying lottery tickets? (HP)
A Philadelphia man is accused of robbing a Buddhist monk as he purchased lottery tickets from a gas station. Security footage shows the 61-year-old victim -- dressed in orange robes -- at a lottery machine on Jan. 3 when he is ambushed by the suspect. Police said that the suspect grabbed about $350 in cash from the monk's hands. The victim chases the suspect out of the Sunoco station in South Philly and into the parking lot. A struggle between the monk and suspect ensued.

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By Yolo0906 (Own work) [CC BY-SA 4.0], via Wikimedia Commons

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Greece Pours $22.6 Billion Into Four Biggest Banks (Reuters) The long-awaited injection—via bonds from the European Financial Stability Facility rescue fund—will boost the nearly depleted capital base of National Bank, Alpha, Eurobank and Piraeus Bank. "The funds have been disbursed," an official at the Hellenic Financial Stability Facility, who declined to be named, told Reuters. The HFSF was set up to funnel funds from Greece's bailout programme to recapitalise its tottering banks. The HFSF allocated 6.9 billion euros to National Bank, 1.9 billion to Alpha, 4.2 billion to Eurobank and 5 billion to Piraeus. All four are scheduled to report first-quarter earnings this week. The news came as two government officials told Reuters that near-bankrupt Greece could access 3 billion euros, left from its first bailout programme, to cover basic state payments if efforts to revive falling tax revenue fail. U.S. Ready for Europe Fallout, Says Fed Official (WSJ) "There's absolutely no reason for people in the United States to get all in a dither," Federal Reserve Bank of Philadelphia President Charles Plosser said in an interview with The Wall Street Journal. Mr. Plosser said that in the short run, uncertainty in Europe might even work in the U.S. economy's favor, via lower U.S. interest rates and energy prices. Greece to Leave Euro Zone on June 18, Says Guy (CNBC) Greece will leave the euro zone on June 18 if the populist government wins the country’s elections on the 17 as the rest of the euro zone rounds on "cheaters," Nick Dewhirst, director at wealth management firm Integral Asset Management, told CNBC Monday. “The euro zone is a club but you get cheaters who get away with it until everyone finds out and at that point you need to remove them otherwise everyone will cheat. It’s better for Greece to leave,” Dewhirst said. He added that Greek society was built on cheating and scheming, saying “everyone does it” but that voters elsewhere in the euro zone were now calling Greece to account. “The basic question is that a German has to increase working from 65 to 67 and that is to pay for Greeks retiring at 50. The 17th of June is the perfect opportunity to say either 'we’ll behave' or 'we’ll carry on cheating,'" he said. Facebook Debacle Turns High Hopes Into Potentially Mood-Souring Skepticism (WSJ) It is impossible to measure the impact of Facebook's flubbed deal on overall investor confidence. But there is at least one sign of possible fallout: More than $3 billion was yanked from U.S. stock mutual funds by small investors in the week ended Wednesday, according to EPFR Global Inc. in Cambridge, Mass. That was the worst week for withdrawals since March. In the previous week, investors added $311 million to U.S. stock mutual funds. David Guthrie, a 30-year-old actor in Toronto, bought 15 shares of Facebook on its opening day. Before then, he had bought just one stock, yet saw the market as a place to make his savings rise in the long run. Now he feels burned. "If Facebook had made a lot of money, I'd try it again," Mr. Guthrie says. After the stock's disappointing slide, "I would never put big money into the stock market." Zoos' Bitter Choice: To Save Some Species, Letting Others Die (NYT) ...Ozzie, a lion-tailed macaque, will never father children. Lion-tails once flourished in the tops of rain forests in India, using their naturally dark coloring to disappear into the height of the jungle. Though there are only about 4,000 remaining in the wild, not one among Ozzie’s group here in St. Louis will be bred. American zoos are on the verge of giving up on trying to save them. As the number of species at risk of extinction soars, zoos are increasingly being called upon to rescue and sustain animals, and not just for marquee breeds like pandas and rhinos but also for all manner of mammals, frogs, birds and insects whose populations are suddenly crashing. To conserve animals effectively, however, zoo officials have concluded that they must winnow species in their care and devote more resources to a chosen few. The result is that zookeepers, usually animal lovers to the core, are increasingly being pressed into making cold calculations about which animals are the most crucial to save. Some days, the burden feels less like Noah building an ark and more like Schindler making a list. Icahn Takes Chesapeake Energy Stake (WSJ) Carl Icahn skewered Chesapeake Energy Corp.'s CHK board for corporate governance controversies and "irresponsible actions" while disclosing he acquired a sizeable new stake in the company. Euro Likely Worthless as Collector's Item (Bloomberg) FYI. JPMorgan Beefs Up China Unit With $400 Million Injection (Reuters) "The additional capital will better position the bank in the evolving regulatory environment and cement our commitment to clients in China," Zili Shao, Chairman and chief executive of J.P. Morgan China, said in a statement on Monday. "The capital will be used to expand the bank's branch network, develop products, increase corporate lending, and recruit employees," Shao added. Europe Turns To US For Loans (WSJ) In the latest symptom of Europe's financial turmoil, the region's riskier companies are bypassing banks and investors at home and turning to the U.S. for loans. European companies borrowed some €14.4 billion (about $18 billion at current rates) in the U.S. leveraged-loan market this year through Friday, more than double the €6.7 billion for all of 2011, according to data from S&P Capital IQ LCD. That is the highest amount since at least 2007, the height of the last boom in leveraged lending, when full-year loan volume was €12.2 billion, according to S&P. How Boaz Weinstein And Hedge Funds Outsmarted JPMorgan (NYT) By May, when fears over Europe’s debt crisis again came to the fore, the trade reversed. The London Whale was losing. And Mr. Weinstein began to make back all of his losses — and then some — in a matter of weeks. Other hedge funds were also big winners. Blue Mountain Capital and BlueCrest Capital, both created by former JPMorgan traders, were among those winners. Lucidus Capital Partners, CQS and a fund called III came out ahead, too. Inside the hedge fund world, some joked that Mr. Weinstein had been able to spot the London Whale because he himself had been a whale once, too. Drunk Brooklyn woman crashes car through Long Island home (NYDN) A drunken Brooklyn woman crashed her Mercedes into a Long Island home Monday, smashing through the house and landing in the backyard, cops said. Sophia Anderson, 21, failed to turn left or right when the road she was driving on in Huntington deadended at a T-intersection with another street, officials said. She left a train of wreckage as she smashed through the modest house on Southdown Rd., missing the 90-year-old homeowner and her caretaker. Anderson, treated and released at Huntington Hospital, was arrested and charged with driving while intoxicated, police said.