The annual 10-K report that JPMorgan Chase filed with the SEC in February includes a 13-page section on "Risk Factors." It's a lawyerly, exhaustive, exhausting rundown of all the things that could possibly weigh on the earnings of a giant global bank, from regulatory changes to loans going bad to a liquidity crisis to the possibility that "one or more of its employees causes a significant operational breakdown or failure." What's missing, though, is something like this:

On its risk appetite index, Credit Suisse views the index value of 5 as "euphoria". And we are headed there, as markets embrace risk.

Charles Blauner, Global Head of Information Security for Citi and chair of the Financial Services Sector Coordinating Council for Critical Infrastructure Protection (FSSCC) testified before the House Energy and Commerce Committee regarding the financial services industry's efforts to address cyber threats.

A surge in companies filing for REIT status could be leading to an increase in scrutiny over which companies should qualify. According to a report issued by BDO USA, LLP, a leading accounting and consulting organization, failure to qualify as a REIT is among the top risks for REITs, with 100 percent of REITs analyzed citing it.

This post provides a general framework for determining the response of asset values (and net income and capital ratios) to changes in key risk factors that takes advantage of the insights of Prof. Robert Jarrow (2013) in his recent paper "A Generalized Multiple-Factor Asset Pricing Model."

In my daily paper (Svenska Dagbladet) the journalist Mr Johan Myrsten told his readers about the glorious future awaiting Japan, because the new prime minister (Mr Shinzo Abe) has the support of between 60 and 70 percent of the electorate.

Japan's monetary experiment is truly unprecedented, both in size and scope. Not only is the overall central bank balance sheet growth accelerating, but the assets purchased are not just government securities.

Significant differences will remain between the GAAP and IFRS accounting standards in 2013, although cooperation and progress continues on some remaining joint projects, according to a new Fitch Ratings report.

Retailers are feeling pressure from a heightened regulatory climate. A new BDO USA, LLP analysis of the risk factors listed in the most recent 10-K filings of the largest 100 public U.S. retailers found that federal, state and local regulations have increased as a risk among the nation's largest retailers.

Leading companies are doing more to foster cloud-based collaboration-not only internally, but also with an ever-wider swath of external groups including customers, suppliers, partners, and even regulators.

The pendulum swings in Tropical Storm production should not obscure the bottom line which is 15 of the past 18 Seasons have produced at or above the long-term normal, and this trend is likely to continue during this active cycle of which we are in the midst.

Corporate treasurers' risk tolerance remains low as they prefer to hold record amounts of cash on their balance sheets.

Emerging economies have always run higher inflation rates than developed markets (DM) due to stronger growth. The spread in inflation rates has generally been steady, running roughly 2-3 percentage points. Recently however the spread has blown out to over 4% - a post-recession high.

The argument goes that the banking system is broken and is unable to grow credit - which is being manifested as tepid growth in the broad money stock. Is that what's really going on here?

Institutional investors spend between $1.5 billion and $2 billion per year on order management and execution management systems for their trading desks - a growing amount due to increased demands for compliance tools and the need to keep pace with rapid changes in market structure.

Speaking at the 9th World Congress of the International Association of Restructuring, Insolvency and Bankruptcy, Paul Tucker outlines the keys steps necessary to further the progress already made by the international regulatory community on resolution since the crisis.

Stimulus funds for smart grid projects are coming to a close, and industry experts are questioning whether electric grid enhancements will continue. The answer is a resounding yes.

Privately owned housing starts in the US fell 16.5% in April to a five-month low of 853,000 annualized units, missing market expectations for a reading of 970,000. The sharp monthly decline in homebuilding comes after activity hit a five-year high of 1.021 million annualized units (initially reported as 1.036 million) in the previous month.

Consumer prices declined 0.4% in April. This marked a second consecutive monthly decline following a 0.2% dip in March and pushed the year-over-year rate of increase down to 1.1%, the lowest annual pace of price growth since November 2010, from 1.5% in March.

In a speech delivered at the British-American Business Council Transatlantic Conference, Martin Weale - External Member of the Monetary Policy Committee (MPC) - sets out his thoughts on monetary policy-making in the current circumstances.

Improvements in lithium ion (Li-ion) battery technology are helping to accelerate the worldwide market for electric vehicles (EVs). In the last few years, automakers have shifted from nickel-metal hydride (NiMH) batteries to Li-ion batteries.

Public hearings will be held to determine if Southern California Edision can restart one of the two nuclear reactors it has on its San Onofre site. Regulators determined that the utility is unable to account for at this time what caused the problems that have kept its plant off line for more than a year.

Freddie Mac yesterday released the results of its Primary Mortgage Market Survey (PMMS), showing fixed-rate mortgages following U.S. Treasury bond yields higher this week on signs of stronger consumer spending.

While the equity markets continued to march higher, other "risk-on" asset classes such as currencies and commodities have stumbled.

The news headlines out of Europe continue to surprise to the downside. Especially the euro area is struggling across the board, as growth in most countries stagnates.

As discussed earlier the ongoing reallocation out of money market funds combined with the Fed's monetary expansion has resulted in fund flows into short-term bond funds as a cash substitute.

We are clearly seeing signs of stabilization in the US labor markets as new unemployment claims march toward pre-recession levels (though obviously not there yet).

US industrial production fell 0.5% in April 2013 and missed market expectations for a modest 0.2% decline. The bulk of downward surprise in April came from the manufacturing sector where production contracted by 0.4% in the month against expectations for a modest increase.

California is now wrestling with the fate of a single nuclear plant in Southern California. And while the fierce debate will no doubt have broader ramifications for the entire sector, the ordeal is weighing heavily on just one utility: Edison International's Southern California Edison.

Japanese government bonds experienced a spectacular sell-off in the past few days, with the 10-year JGB yield rising by a half of its value.