US inflation muted in October
By Alan Rappeport, FT.com
Inflation in the US remained muted last month, as falling prices for cars and computers held back the producer price index, government figures showed on Tuesday. Separately, industrial production was flat in October and homebuilder sentiment picked up in November as buyers became more serious about making purchases.
http://jlne.ws/cYpXkl
HSBC Is Said to Double Base Pay for Some Investment Bankers as Bonuses Cut
By Jon Menon, Bloomberg
HSBC Holdings Plc, Europe’s biggest bank, may as much as double the base salary of some investment bankers following similar increases by competitors, said a person with knowledge of the plans.
http://jlne.ws/d3Pszw
30-Year Fixed Mortgage Rates Up 27 Basis Points To Four-Month High
By Lauren Riefflin, Zillow
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.34 percent, up from 4.07 percent at this same time last week. This is the highest average rate reported on Zillow Mortgage Marketplace in 16 weeks.
http://jlne.ws/ajB0WW
U.S. Homebuilder Confidence Index Increased to 16 in November
By Bob Willis, Bloomberg
Confidence among U.S. homebuilders improved for a second month in November, a sign residential construction may hold at depressed levels.
http://jlne.ws/cUfyEQ
U.S. Rating Not Under Pressure This Year or Next
By Dennis Fitzgerald and Deirdre Bolton, Bloomberg
The U.S. Aaa rating won’t be under pressure this year or next from record budget deficits, according to Moody’s Investors Service Inc.
http://jlne.ws/9FNkOP
Greece will meet targets, finance minister says
By William L. Watts, MarketWatch
Greek Finance Minister George Papaconstantinou on Tuesday said Athens would meet its budget goals after Austria said it may withhold aid unless Greece shows it can meet its revenue targets. Speaking to reporters ahead of a meeting of euro-zone finance ministers in Brussels, Papaconstantinou repeated that Greece plans to take additional steps to meet its 2011 budget target and that it would meet its 2010 targets
http://jlne.ws/cYFdHb
Fed's Yellen Defends Bond-Purchase Plan
By JON HILSENRATH, WSJ.com
Janet Yellen, the Federal Reserve's new vice chairwoman, said in an interview that the central bank isn't trying to drive down the dollar's value or push inflation above 2%, defending the Fed against the strong backlash that followed its Nov. 3 decision to purchase $600 billion more of U.S. Treasury bonds in a bid to strengthen economic growth.
http://jlne.ws/doTK6Q
U.S. Civil Suit Against UBS Withdrawn
BY MARTIN VAUGHN AND KATHARINA BART, WSJ.com
The U.S. Internal Revenue Service dropped its civil lawsuit against UBS AG, claiming victory in a years-long effort to uncover the identities of alleged tax offenders that are the Swiss bank's U.S. clients.
http://jlne.ws/a5prB0
Bond Market Defies Fed
By MARK GONGLOFF, WSJ.com
Bucking the Federal Reserve's efforts to push interest rates lower, investors are selling off U.S. government debt, driving rates in many cases to their highest levels in more than three months.
http://jlne.ws/bo7wGY
U.K. Support Sought for Ireland Bailout
BY MARCUS WALKER AND PATRICK MCGROARTY, WSJ.com
European finance ministers working on an international aid package for Ireland want the U.K. to make bilateral loans to Dublin as part of a larger aid package that could total up to €100 billion ($135 billion) and include credit from the euro zone and International Monetary Fund, according to people familiar with the matter.
http://jlne.ws/9C5ole
Geithner Sees Tax-Cut Deal This Year
By DAMIAN PALETTA, WSJ.com
WASHINGTON—U.S. Treasury Secretary Timothy Geithner said Tuesday it is "quite likely" the White House and Congress will reach a deal to address the expiring Bush-era tax cuts by the end of the year.
http://jlne.ws/bAQMEp
Dodd-Frank Rules To Split The $583 Trillion Swaps Market
By Katy Burne Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The derivatives industry, grappling with an overhaul brought about by the Dodd-Frank Act, is about to be split in two. The result will be a radical alteration of a $583 trillion marketplace that for the last 20 years has been the cash cow of investment banks.
WSJ.com
http://jlne.ws/avegZL
OTC Derivatives Volumes Fell 4% In First Half To $583T -BIS
By Katy Burne Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The global over-the-counter derivatives market contracted almost 4% to $583 trillion in the first half of this year, compared with a 2% rise in the second half of 2009, according to survey results from the Bank for International Settlements on Monday.
WSJ.com
http://jlne.ws/cLLVPn
Battle With Bondholders Looms After G-20 Agrees on Basel Rules
By Simon Clark and John Glover
The next hurdle to bank reform is looming after U.S. President Barack Obama and other Group of 20 leaders endorsed the Basel Committee on Banking Supervision's new rules in South Korea last week: the bond market.
http://jlne.ws/bGk2Dy
Citigroup Says Ireland Financial Bailout Would Exert Pressure on Portugal
Bloomberg
A request by Ireland for aid from the European Financial Stability Facility would increase pressure on Portuguese government bonds, Citigroup Inc. said.
http://jlne.ws/9kblaC
Fed dismisses idea that QE is 'some sort of chapter in a currency war'
The Federal Reserve has robustly defended its latest efforts to reignite a US recovery, with the central bank's vice chairman dismissing the idea that they're writing "some sort of chapter in a currency war."
Telegraph
http://jlne.ws/cAigf4
U.S. drops case against UBS, ends harmful tax row
Reuters
U.S. tax authorities have withdrawn a summons against UBS aimed at getting data on the bank's U.S. clients, the Swiss government said, putting an end to a tax row that had threatened to bring the bank down.
http://jlne.ws/8XZJIM
Paulson Trims Bank of America, Sells Entire Goldman Sachs Stake
By Dakin Campbell and Katherine Burton
Paulson & Co., the hedge fund run by John Paulson, trimmed positions in Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. in the third quarter as regulatory changes and disputes over faulty mortgages threatened to hurt bank profits.
Bloomberg
http://jlne.ws/bG3oZD
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