No longer are central bankers “either the frontmen or rhythm-keepers of macro policy,” said Thierry Wizman, a strategist at Macquarie. “They’re now followers, who are ceding their dynamism ...

But prizes weren’t always relegated to children. In 1905, Quaker Oats awarded consumers free bowls of fine China in exchange for box tokens. Obviously, Quaker wasn’t stuffing fragile ...

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of ...