Fed members weighed bond buys in September
By Greg Robb, MarketWatch
Several Federal Reserve officials thought that it would "soon" be appropriate for a second round of quantitative easing to boost the economy, according to a summary released Tuesday of the discussion at their Sept. 21 meeting. Fed officials said the statement released after their meeting included an indication that easing may be needed "before long." They held off easing in September to gather more data and discuss how best to communicate about any new stimulus, the minutes show. The discussion about easing focused primarily on further Treasury purchases and also on steps to lift inflation expectations.
http://jlne.ws/aN7e45
Weber Says ECB Should Phase Out Bond Purchases `Now'
By Gabi Thesing and Rainer Buergin, Bloomberg
European Central Bank Governing Council member Axel Weber said the ECB should stop its bond- purchase program, threatening to remove a lifeline for European governments and banks trying to shore up their finances.
http://jlne.ws/92Pn7H
Minutes Signal Fed ’Uncertainty’ About Additional Stimulus
By SEWELL CHAN, The News
WASHINGTON — Federal Reserve officials are grappling with “considerable uncertainty” about the outlook for the economy as they confront a pivotal decision over whether to try to jump-start the torpid recovery by buying large quantities of government debt.
http://jlne.ws/bd9N1k
Lime Brokerage CEO Jeffrey Wecker Resigns, Replaced by Co-Founder Brown
By Nina Mehta, Bloomberg
Lime Brokerage Holdings LLC, a New York-based firm that gives high-frequency traders access to U.S. markets, said Jeffrey Wecker resigned as chief executive officer and president on Oct. 4.
http://jlne.ws/9SqfJS
Treasury to Sell $25B 4-Week Bills
By Gary Siegel, The Bond Buyer
NEW YORK - The Treasury Department said Tuesday it will sell $25 billion of four-week discount bills Wednesday.
http://jlne.ws/a7bHa1
El-Erian Says 'Slow Disease' Is Eating Financial Markets
By: Antonia Oprita, CNBC
The financial crisis has left behind a "slow disease" that is eating into financial markets, and this is obvious in stock prices and currencies, but less so in bonds for the moment, Mohamed El-Erian, CEO and co-chief investment officer of Pimco, told CNBC Tuesday.
http://jlne.ws/aQsb7S
Gillard Warns of 'Patchwork' Australian Economy
BY RACHEL PANNETT, WSJ.com
CANBERRA—Australian Prime Minister Julia Gillard warned Tuesday that Australia risks developing a "patchwork" economy where the booming mining sector outperforms manufacturing and service sectors, especially as the Australian dollar exchange rate flirts with parity against its U.S. counterpart.
http://jlne.ws/9Bmw7d
Exchanges blast a familiar foe: broker-run rivals
By Jonathan Spicer, Reuters
Some of the world's biggest exchange operators pushed on Monday for new rules that would relieve them of the intense pressure brought on by broker-run venues, with one executive tying these smaller rivals to computer-based trading techniques that provide little good.
http://jlne.ws/dtkmrx
White House opposes broad foreclosure moratorium
Reuters
The White House on Tuesday rejected calls for a broad moratorium on home foreclosures, saying it feared such a step could harm the U.S. housing market and hinder a housing recovery.
http://jlne.ws/9UQMp9
Ireland Can Cut Deficit, Avoid Bailout
By Louisa Fahy and Colm Heatley, Bloomberg
Irish Finance Minister Brian Lenihan said he’s “absolutely” sure the country will avoid a bailout as he weighs cutting welfare payments and pensions to narrow the euro region’s biggest budget deficit.
http://jlne.ws/aLg0um
Economists Cut U.S. Growth Forecasts Through 2011, Survey Shows
By Courtney Schlisserman, Bloomberg
The U.S. economy, the world’s largest, will expand less than previously estimated as a lack of jobs restrains consumer spending through 2011, a survey showed.
http://jlne.ws/bBBVaZ
Bloated cajas face fresh wave of cuts
By Victor Mallet, FT.com
Only months after two emergency rescues and a wrenching series of mergers among Spanish cajas de ahorros or savings banks, a second round of consolidation is being predicted by the country’s bankers, officials and financial analysts.
http://jlne.ws/cxzcOV
Fed’s Dudley Confident Banks Will Adapt To New Rules - Real Time Economics
By Luca Di Leo, WSJ.com
New York Federal Reserve Bank President William Dudley on Monday downplayed the potential impact that banks face from new capital standards, saying it will be easier for them to adapt than many observers think.
http://jlne.ws/cmJITK
Nobel Prize for Economics awarded to Christopher Pissarides
Press Release, LSE
LSE professor Christopher Pissarides was awarded the Nobel Prize for Economic Sciences today. He won the 2010 prize jointly for his work on the economics of unemployment, especially job flows and the effects of being out of work. He shares the prize with Peter Diamond from Massachusetts Institute of Technology and Dale Mortensen from Northwestern University.
http://jlne.ws/cqpb44
OECD: Global Economy Slowing
BY PAUL HANNON, WSJ.com
LONDON—The world economy appears to be slowing, with most developed and large developing economies already in a downturn, the Organization for Economic Cooperation and Development said Monday.
http://jlne.ws/aeM28o
R.J. O'Brien Promotes Jason Manumaleuna To Chief Financial Officer
Press Release
R.J. O'Brien & Associates LLC (RJO), the largest independent futures brokerage firm in the United States, announced today the promotion of Jason Manumaleuna to Senior Vice President/Chief Financial Officer. He will report to Tom Anderson, Chief Financial Officer of R.J. O'Brien Holdings.
http://jlne.ws/cxgbC5
Study highlights CDS shortcomings
By Aline van Duyn in New York, FT.com
Financial derivatives that are widely tracked as a measure of creditworthiness of companies and countries have in many cases been poor indicators of default in the financial crisis, says Fitch Ratings. The findings of the Fitch study highlight how privately-traded credit default swaps, where even the most actively traded contracts change hands only a few times per day, are influenced by many factors beyond the fundamental credit positions of companies or countries concerned.
http://jlne.ws/9NpMtq
SIFMA Calls System Wide Moratorium On All Foreclosures 'Catastrophic'
Press Release
The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement from Tim Ryan, president and CEO, on the foreclosure moratorium related to issues in foreclosure processing:
http://jlne.ws/cxgbC5
Fed's Yellen: Possible that low rates feed bubbles
By Ann Saphir, Reuters
Low interest rates can contribute to financial bubbles even if they are not a primary culprit, Janet Yellen said in her first speech as vice chair of the Federal Reserve.
http://jlne.ws/bIaG2r
Regulators Could Seize Control of Failing Banks Under EU Plan
By Ben Moshinsky, Bloomberg
Regulators may be given powers to take control of banks that fail to meet capital requirements, under European plans to step in earlier during financial crises.
http://jlne.ws/bxUpFn
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