It's Blackstone Day on Wall Street. The media coverage feels a little overwrought, but this is an important development in the markets. Today's action in BX won't tell us much in and of itself, but we'll be watching to see how it behaves over the next few weeks.
We have a busy day ahead of us, so here are a few worthwhile items this morning...
- The downside (the dark side, even) of merger mania: Bloomberg's Bob Drummond on next-generation insider trading
- (Almost) twenty years later: Bloomberg's Chet Currier reflects on the Crash of 1987
- Thinking about a reverse mortgage? Be careful, says Andrea Coombes of Marketwatch
- Asset allocation matters, but so does asset location: Money's Walter Updegrave on where to hold which types of investments
- Tax changes coming for private equity firms that go public? Fortune's Katie Benner says that isn't dampening enthusiasm for today's Blackstone IPO or a proposed offering from Kohlberg Kravis Roberts