Your daily dose of financial news - The Brief – 6.10.16

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More thoughts on the Department of Labor’s new retirement adviser fiduciary duty standard, including questions about the “grassroots” movement the US Chamber of Commerce is claiming to support its opposition to the standard – NYTimes

Foreign demand for US Treasurys is at bonkers level now, as investors look to escape the negative yields spreading throughout Europe and Asia – WSJ

Meanwhile, here’s what’s up with the Yield Curve [the gap between short-term and long-term interest rates] and what it means for the Fed – WSJ

Morgan Stanley’s become the poster child for the SEC’s new harsh cybersecurity approach after receiving a $1 million fine for violations of the “so-called safeguards rule, which requires firms to adopt policies and procedures to safeguard customer information” – Law360

Remember the Costanza approach Energy Transfer Equity was taking to dissuade Williams Companies from going through with the proposed $22 billion merger?  Looks like it may be working.  SERENITY NOW!NYTimes

A “stalled CMBS market” and need for a hybrid option is leading to a rise in so-called stretch loans, which combine mezz and bank debt to allow borrowers to get the high LTV ratios they received before the downturn (and which can be awfully complicated) – Law360

A cautionary tale of the dangers of keeping up appearances is part of the back story of the downfall of Thomas C. Davis—one of the insider traders implicated in the Dean Foods stock tip scandal that ensnared pro golfer Phil Mickelson, among others – NYTimes

We’ve been hearing rumblings about an impending economic downturn. The Journal quantifies the risk (or at least puts it in terms of the top 4 factors to watch that could lead to recession) – WSJ

Silicon Valley’s mourning the loss of Thomas J. Perkins, the venture capitalist who co-founded Kleiner Perkins in 1972 and popularized an investment model that involved “putting small amounts of money into promising young start-ups in return for a stake in the companies, giving them advice and counsel to spur growth” – NYTimes and WSJ and Bloomberg

You know the common complaint about how the future doesn’t look like what we thought the future would—specifically, “where are the flying cars?”  Turns out that Google’s Larry Page hasn’t exactly been content leaving that question rhetorical – Bloomberg

Desperate for that Hamilton fix and dying to see a Christopher Walken or Beaker take on it?  Check out the latest from “this guy,” who also happens to be one of my college roommates – HuffingtonPost

Have a great weekend.

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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