A few of the things we’ve been reading today:

  • Morgan Stanley tried to win over the defense of Allergan by saying Valeant was a “house of cards” then later went to work for Valeant
  • An estimate that tax havens hold 8% of the world’s private wealth an use of havens has dropped US effective corporate tax rate to 15% from 30%
  • Today’s industrial production data has one economist feeling downright giddy on US prospects
  • “Eerie quiet” in oil market as volatility falls to lowest since the 1970s – FT
  • Chinese yuan fall could be a sign of deeper problems
  • How oligopolistic behaviour is hurting the US and creating inequality
  • Ryan wrote on the central bank shift into holding stocks, the FT has more