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Podcast: Bloomberg Daybreak: Europe Edition
Episode: NYCB Cut To Junk, China Stocks & Football's American takeover
Description: Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) New York Community Bancorp's credit grade was cut to junk by Moody's Investors Service less than a week after the regional lender alarmed shareholders by slashing payouts and stockpiling reserves to cover troubled loans tied to commercial real estate. (2) Treasury Secretary Janet Yellen said that while losses in commercial real estate are a worry, US regulators are working to ensure that loan-loss reserves and liquidity levels in the financial system are adequate to cope. (3) A rally in Chinese shares...