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So, it turns out that all of the Brexit-style market freefalling was reserved for overnight trading. US markets actually closed up yesterday after modest opening losses – WSJ

And, some thoughts on why – NYTimes

What does it all mean for business?  The prime guesses include far fewer business regs, for one [NYTimes and WSJ], quicker action on rates from the Fed [NYTimes], mega-deficit spending [NYTimes], and a mixed bag for banks [NYTimes], though truth be told, Trump’s shifting positions on these and other issues make the future awfully uncertain all around – WSJ

Yahoo’s hacker problems may go beyond the disclosure and impact on the Verizon deal.  As in, they may be current – WSJ

PHH will pony up $28 million to NY’s Dep’t of Financial Services to end a probe into its mortgage origination and servicing practices – Law360

London-based trader Navinder Sarao has pleaded guilty in federal court in Chicago to spoofing charges in connection to the 2010 Flash Crash after being extradited by the UK on Monday – WSJ and Law360

The DOL has already employed its recent win in a DC federal court on the propriety of its fiduciary rule, citing the decision to a Texas federal judge hearing a challenge to the rule by trade groups that include the US Chamber of Commerce – Law360

Narwhals: not a mystical unicorn of the seas.  However, pretty impressive nonetheless considering their ability to see with sound – NYTimes

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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