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Photo by Scott Heins/Getty Images

The combination of increased appetite for passive investment and financial regulations, particularly Europe's Mifid II, is underpinning a "profound reshaping" of what Wall Street research analysts do, according to the Financial Times. It's a move into deep data and away from opinion-driven analysis.

What's happening: Because Mifid II mandates that asset managers and institutions pay for research directly rather than simply paying banks or researchers for their services broadly, there's a great "unbundling" happening throughout asset management.

  • “Not only has unbundling impacted US money managers, it is in the process of changing the whole nature of investment research,” Tabb Group, a markets consultancy, said in a recent report.

The intrigue: "Nowadays, analysts sift through non-traditional information such as satellite imagery and credit card data, or use artificial intelligence techniques such as machine learning and natural language processing to glean fresh insights from traditional sources such as economic data and earnings-call transcripts," per FT.

  • "Almost every bank is now exploring how newer technology can enhance their analysis, or even become a separate business line."

The bottom line: "For now, verbose reports remain the bread and butter of an investment bank analyst. But the form of the content is evolving," Wigglesworth writes.

  • "These days reports are often shorter and punchier, and research can come in the form of videos, 'charticles', live events and even podcasts, and are also distributed through social media and even messaging apps."

Go deeper: Macquarie strategists project stock market will double in value by 2030

Go deeper

Biden says $1,400 stimulus payments can start going out this month

Photo: Samuel Corum/Getty Images

President Biden said Saturday that the Senate passage of his $1.9 trillion COVID relief package means the $1,400 direct payments for most Americans can begin going out later this month.

Driving the news: The Senate voted 50-49 Saturday to approve the sweeping legislation. The House is expected to pass the Senate's version of the bill next week before it heads to Biden's desk for his signature.

7 hours ago - Health

COVID-19 drives smell loss awareness, research

A health worker carries out an olfactory test outside Buenos Aires. Photo: Alejandro Pagni/AFP via Getty Images

The pandemic has thrust a relatively unknown ailment, anosmia — or smell loss — into the international spotlight.

Why it matters: Researchers hope smell testing becomes as standard as the annual flu shot, helping to detect early signs of neurodegenerative diseases like Alzheimer’s and Parkinson’s.

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