Italy's debt costs approach red zone
The Telegraph
Italy's borrowing costs have jumped to the highest level since the financial crisis over two years ago, raising concerns that Europe's biggest debtor may slip from the eurozone's stable core into the high-risk group on the periphery.
http://jlne.ws/gf7s34
Venezuela devalues currency again
The Globe And Mail/ Reuters
Venezuela said Thursday it was abolishing the lowest exchange rate of 2.6 bolivars to the U.S. dollar in a measure effectively devaluing the South American OPEC nation’s currency for a second time in 12 months.
http://jlne.ws/dOhNnw
Bank of America Settlement with Lehman Not Yet Final
American Banking & Market News
Bank of America (NYSE: BAC) may be in for an expensive settlement, pending a final decision by a bankruptcy judge. The firm had received notice that a bankruptcy judge amended his order that they pay Lehman Brothers Holdings Inc. $590 million in compensation for taking its deposits, saying “the judgment is hereby deemed not to be a final judgment.”
http://jlne.ws/eCime9
Brazil's inflation seen easing-finance minister
Reuters
Brazil's Finance Minister Guido Mantega said on Thursday that inflation is giving signals of easing, and that lower economic activity in 2011 would help control prices next year.
http://jlne.ws/hT6d03
Business Activity in U.S. Grows at Fastest Pace in Two Decades
Bob Willis, Bloomberg
Businesses in the U.S. expanded in December at the fastest pace in two decades, adding to evidence the world’s largest economy is accelerating heading into 2011.
http://jlne.ws/e7kalc
Schwarzenegger's Build America Bonds Outperform With 7% Yield: Muni Credit
By Brendan A. McGrail and Ashley Lutz, Bloomberg
Build America Bonds from California, the biggest issuer of the taxable debt in 2010, outperformed the market in the last six weeks as the state’s 7.25 percent yield lured investors unfazed by the lowest state credit rating.
http://jlne.ws/i9gTjU
Coincident indexes for 11 states expected to grow between 1.5 % & 4.5 % over next 6 months
The Federal Reserve Bank of Philadelphia produces leading indexes for each of the 50 states. The indexes are calculated monthly and are usually released a week after the release of the coincident indexes. The Bank issues a release each month describing the current and future economic situation of the 50 states with special coverage of the Third District: Pennsylvania, New Jersey, and Delaware.
http://jlne.ws/eiV8ug
Economists: China won't hurt growth with excessive tightening
People’s Daily Online
China increased its benchmark interest rates last week for the second time in two months. While expecting similar moves to come in the near future, economists from major international investment banks do not seem to be worried about the impact of China's increasingly tight monetary policy on economic growth.
http://jlne.ws/dNnqdP
Pending Sales of U.S. Existing Homes Rose 3.5% in November
By Bob Willis, Bloomberg
The number of contracts to buy previously owned homes rose more than forecast in November, a sign sales are recovering following a post-tax credit plunge.
http://jlne.ws/gFfKo0
US mortgage foreclosures rise sharply
By Suzanne Kapner, Financial Times
US mortgage foreclosures jumped in the third quarter as fewer borrowers qualified for loan modifications that would have reduced their monthly payments, bank regulators have said.
http://jlne.ws/eg2yUX
Six Financial Institutions Repay TARP Funds, Deliver $626 Million In Proceeds For Taxpayers
Press Release
The U.S. Department of the Treasury announced that the following six financial institutions have repurchased Troubled Asset Relief Program (TARP) Capital Purchase Program (CPP) investments, delivering a total of $626.0 million in proceeds today for taxpayers.
http://jlne.ws/cxgbC7
Fed's Dudley Scheduled Meetings With Wall Street, Global Chiefs
BusinessWeek
Federal Reserve Bank of New York President William Dudley scheduled meetings with top Goldman Sachs Group Inc. and Citigroup Inc. officials in his first days on the job, his daybook showed today.
http://jlne.ws/h8NqSg
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