Greenspan Questions Benefits Of Fed Treasury Note Purchases
WSJ.com
MEXICO CITY (Dow Jones)--Former U.S. Federal Reserve Chairman Alan Greenspan questioned Friday whether ideas being floated to stimulate the U.S. economy, such as Fed purchases of Treasurys, would have much impact. Speaking in Mexico City, Greenspan said it's "unclear at this stage" whether a so-called "Operation Twist"--in which the Fed would replace short-dated paper with longer-term securities to push down interest rates over the long term--would work.
http://jlne.ws/mXOnvN
Treasury Prices Jump on ECB Resignation
By CYNTHIA LIN, WSJ.com
NEW YORK—Treasury prices shot higher on news that European Central Bank chief economist Jürgen Stark resigned and amid speculation that the resignation is due to disagreements over supporting the struggling euro-zone members.
http://jlne.ws/mVwBZX
U.S. Economic Weakness Masked By Consumer Credit
Seeking Alpha
The financial news about U.S. consumer credit, a report published by the Federal Reserve, is missing the core reading of the data, and the recent conclusion has been that consumers are borrowing heavily. The implication is that economic bad times will have to wait, and I wish that was true.
http://jlne.ws/qn1HMG
Obama Asks Congress for $447 Billion In Cuts, Spending; Tepid GOP Response
WSJ.com
President Barack Obama called on Congress Thursday to pass a $447 billion package of spending initiatives and tax cuts to boost economic growth, in what might be the White House's last chance to revive its political fortunes before the 2012 campaign kicks into high gear.
http://jlne.ws/qeoGXS
A Tale of Two Speeches
Marc Chandler BBH CurrencyView
A tumultuous market environment continues to support the US dollar. Equity markets remain pressured at the end of a tumultuous weak after the unchanged ECB and BoE decisions and the Obama and Bernanke speeches allconfirmed a weaker global backdrop but failed short of backstopping market cyclical and structural concerns.
http://jlne.ws/nFBtHB
MONEY MARKETS-Stress levels high on euro zone, Greek troubles
By Ana Nicolaci da Costa, Reuters
A key measure of financial stress hit its widest level in more than two years on Friday as challenges for the euro zone mounted and with investors expecting little from a Group of Seven financial summit.
http://jlne.ws/nxOlDE4
RATE FUTURES REPORT: Implied Rates Slide Minus Stimulus Pledge
By Howard Packowitz Of DOW JONES NEWSWIRES
CHICAGO--Having received no new guidance from the Federal Reserve chief, traders of U.S. interest rate futures continued to price in lower rates on Thursday.
The anemic pace of U.S. economic growth was a catalyst for the move along with a downbeat assessment of growth in Europe.
http://jlne.ws/nRJfGi
Bullard Says Fed Can Use ‘Balance Sheet Policy’ to Add Momentum to Economy
By Greg Quinn, Bloomberg
St. Louis Federal Reserve President James Bullard said policy makers need to consider if further stimulus is needed after the U.S. economy slowed in the last few months.
http://jlne.ws/qaMqb6
Low interest rates don’t help sputtering economy
By Brian Edmonds
NEW YORK (MarketWatch) — Last month will go down in the history books as one of the most volatile on record for world financial markets. Treasurys had their largest rally since 2008, equities gyrated wildly and gold continued its surge to new record highs as the global anti-currency.
http://jlne.ws/n6QkQc
Obama speech recognizes hurdles for first time: Pimco's El-Erian
InvestmentNews
Pacific Investment Management Co.'s Mohamed El-Erian said President Barack Obama is moving for the first time to “get ahead” of U.S. economic challenges because the Federal Reserve is unable to revive employment on its own.
http://jlne.ws/pD5rQw
Concerns in Europe send exchange shares lower
By The Associated Press
Shares of stock exchange operators fell Friday as worries over Europe's handling of its debt crisis and a further deterioration in its economy led to a stock sell-off.
http://jlne.ws/qkGWnk
Geithner: Jobs Plan Can Work 'Very Quickly'
By JEFFREY SPARSHOTT, WSJ.com
WASHINGTON—Treasury Secretary Timothy Geithner said Friday the Obama administration's proposed jobs package could work "very, very quickly" to boost the economy and ultimately generate hundreds of thousands of new jobs.
http://jlne.ws/nVNNef
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