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Key Words: ‘Head-smacking craziness’ has reached new heights in today’s markets, says hedge-fund billionaire Paul Singer6:34 Billionaire Paul Singer of Elliott Management thinks that the market for equities has pretty much jumped the shark, in a Jan. 28 letter to clients, reported by Bloomberg on Friday. The Moneyist: ‘She is a financial idiot and partier’: I loaned my sister $4,780 for a lawyer during her divorce. I am still cha1:12 ‘She earns $90,000 to $95,000 a year, but this year’s excuse is that she is in arrears for child-support payments.’ Capitol Report: $1.9 trillion coronavirus aid package set to clear House late tonight0:40 House Democrats hope to clear President Joe Biden's $1.9 trillion economic package late today and send it on to the Senate, where it will face some changes. Capitol Report: Biden matches Obama’s ‘social cost of carbon’ for now — it’s a figure roughly 50 times greater than Trump’s0:08 President Biden’s climate-change team is temporarily returning to numbers used by the Obama administration to assign monetary value to curbing greenhouse gas emissions --- at $51 per ton. Americans can’t file their income taxes fast enough — but they should brace for some unwelcome news in their 2020 refunds23:36 The IRS has received approximately 21% more individual returns than the agency received last year by Feb. 7, which was 12 days into the tax season last year. NewsWatch: Americans can’t file their income taxes fast enough — but they should brace for some unwelcome news in their 2020 re23:04 The IRS has received approximately 21% more individual returns than the agency received last year by Feb. 7, which was 12 days into the tax season last year. TaxWatch: ‘It can be super, super easy, or it can be insanely complicated’: Need to report bitcoin trades to the IRS? Read this23:04 For the first time, the IRS is asking about virtual currency transactions on the first page of its main income tax form. The Tell: Here’s what one hedge fund trader says happened in Thursday’s bond-market tantrum, which sent the 10-year Treasury yi23:04 Even for one investment veteran, the forced unwinding of popular trades among market participants this week was among the most violent in his career. The Tell: GameStop saga illustrates rising ‘noise trader risk’ that could feed market volatility, warns quantitative analyst20:20 The GameStop rally could herald a rise in “noise trader risk,” potentially driving rational traders from obscure, less liquid corners of the stock market and stoking increased volatility, warns one quantitative analyst. |