Reuters Money: The taper: let's not call a retreat a victory - James Saft

	Click to View in Browser 08/7/2013 The taper: let's not call a retreat a victory - James Saft (Reuters) - If the Federal Reserve does begin to taper its purchases of bonds in September there is really only one way to interpret the move: as a retreat. Winton escalates computer-driven hedge fund arms race LONDON (Reuters) - Winton Capital, one of the world's biggest hedge fund firms, has developed a new model of its flagship fund, hoping its greater allocation to equities and risk will produce better returns in a sector struggling to make money. U.S. cities to retirees: Don't count on health insurance, either CHICAGO (Reuters) - Chalk it up as an unintended consequence of Obamacare: a growing number of U.S. employers are aiming to cut their healthcare costs by shifting retirees into the law's new public insurance exchanges, which launch this October. IRS may make New Jersey authority's municipal bonds taxable WASHINGTON (Reuters) - The Internal Revenue Service has taken a major step toward declaring millions of dollars of revenue bonds issued by the New Jersey Health Care Facilities Financing Authority in violation of U.S. tax law, which could make the interest paid by the debt taxable. U.S. public pensions eke out investment returns as gains slow WASHINGTON (Reuters) - Financial improvements for U.S. public pensions continued to slow in the second quarter, with a report released by Wilshire Associates on Tuesday showing their investments barely eked out returns in the middle of the year. Pimco suffers $7.4 billion outflows from U.S. mutual funds in July NEW YORK (Reuters) - Investors pulled $7.4 billion from the U.S. mutual funds of bond giant Pimco in July, roughly half of the record outflows recorded in June, data from Morningstar showed on Tuesday. Wall Street watchdog says scammers going retro with phone calls NEW YORK (Reuters) - Wall Street's industry-funded watchdog on Tuesday warned that scammers are turning to a rather old-fashioned strategy for defrauding investors - the phone call. Einhorn and Loeb hedge funds rise steadily in July: source NEW YORK (Reuters) - After a particularly rough June, two of the $2.25 trillion hedge fund industry's best known managers, David Einhorn and Daniel Loeb, each saw their main funds gain almost 3 percent last month, according to an investor. Investors stay neutral on Treasuries after payrolls: JPM survey NEW YORK (Reuters) - Most investors clung to their outlook on the direction of U.S. Treasuries yields after a disappointing July payrolls report did little to shift expectations the Federal Reserve might pare its bond purchases later this year, a survey released on Tuesday showed. Is it smart to lend money to Puerto Rico? LONG BEACH, California (Reuters) - Puerto Rico may be a nice place to visit, but would you really want to lend there? Related Video Daily Digit: 72% choose thin over $ Why bruised Brazil is a buy Business News Wall St. opens lower on stimulus program uncertainty Time Warner's profit rises on films, advertising The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend