China Says Spain Debt Buys to Continue
BY JONATHAN HOUSE - WSJ
MADRID-China supports Spain's economic reforms and will continue buying its government debt, Chinese Vice Premier Li Keqiang wrote in a newspaper editorial on the eve of a visit to Spain.
http://jlne.ws/fpwsWQ
U.S. consumer bankruptcies rose 9% in 2010
The Globe And Mail/ Reuters
The number of U.S. consumers who filed for bankruptcy protection rose 9 percent in 2010, and the number could increase in 2011 because of high debt loads and stagnant income growth, a report issued Monday shows.
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World-Wide Factory Activity, by Country
By Phil Izzo, WSJ.com
Global manufacturing ended the year on a strong note, according a global purchasing managers’ index released by J.P. Morgan Chase and Markit. The JPMorgan global PMI hit a six-month high of 55 in December from 53.9 the prior month. Any reading above 50 indicates expansion. The expansion was broad based led by the U.S. and the euro zone. China also continued to expand, though at a slightly slower rate. Only Japan and Greece were in contractionary territory.
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Berkshire Plans $1.5 Billion Debt Sale to Retire Notes Maturing This Month
By Sapna Maheshwar, Bloomberg
Billionaire investor Warren Buffett’s Berkshire Hathaway Inc. plans to sell $1.5 billion of senior debt to retire floating-rate notes maturing this month. Berkshire Hathaway Finance Corp. may issue 3- and 10-year notes as soon as today, according to a person familiar with the transaction, who declined to be identified because terms aren’t set. The company disclosed the use of proceeds in a regulatory filing today that didn’t specify the sale’s size, timing or maturities.
http://jlne.ws/ifMhOA
ISM Index at 57.0 in December vs. 56.6 in November
By Gary Siegel, The Bond Buyer
The overall economy grew for the twentieth straight time, while the manufacturing sector expanded for the seventeenth time, the Institute for Supply Management reported this morning.
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Manufacturing activity expands for 17th month in a row
By Blake Ellis, CNNMoney.com
Manufacturing activity expanded for a 17th month in a row in December, rising to the highest level in seven months, a purchasing managers' group said Monday.
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Bank of America pays Fannie Mae and Freddie Mac $2.6bn
BBC News
Bank of America has agreed to pay US mortgage giants Fannie Mae and Freddie Mac about $2.6bn (£1.7bn) to settle claims it sold them bad home loans.
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Goldman Sachs returned to M&A top spot in 2010
Goldman Sachs (GS.N) was the top global mergers and acquisitions advisor last year, retaking the position from rival Morgan Stanley (MS.N), which derailed its multiyear grip on the ranking in 2009.
http://jlne.ws/ibe7Nx
Citi Employee Arrested in Indian Probe: Report
TheStreet.com
A Citigroup employee in India has been arrested on charges of forging documents to lure investors. Shivraj Puri, a relationship manager at the Gurgaon branch, alledgedly forged company statements and created multiple bank accounts to swindle funds that could total about $66.8 million, according to a report by The Wall Street Journal. The money involved was alledgedly taken ...
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Fee Squeeze Seen in 2011 by Top India Stock Arranger Citigroup
BusinessWeek
Fees for underwriting stock sales in India may remain near all-time lows as investment banks battle for market share, according to an executive at Citigroup Inc., the top-ranked adviser on equity offerings in the country.
http://jlne.ws/htbfmz
Treasuries Poised to Extend Loss on Goldman, Pimco Warnings
BusinessWeek
Treasuries were poised to extend December's biggest monthly rout in a year after Goldman Sachs Group Inc. and Pacific Investment Management Co. issued warnings on the bond market.
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PIMCO Settles Suit, Promotes Emerging-Markets Bond Skipper
Morningstar
Plus, equities and fixed income now under single CIO at DWS, and more.
http://jlne.ws/hwo4Vb
Bank Of America to Buy Back Bad Loans from Fannie, Freddie
By TESS STYNES - WSJ
Bank of America Corp. expects to take a provision of about $3 billion in the fourth quarter to buy back bad loans from Freddie Mac and Fannie Mae that were issued by its troubled Countrywide Financial unit.
http://jlne.ws/gfbMXI
Time to stop seeing bankers as bogey men
AFP Telegraph Finance News via Yahoo! UK & Ireland Finance
In 2008, the world changed for good. Names once held dear disappeared. Whole institutions imploded, almost overnight. Governments intervened. And taxpayers moaned as the full scale of the banking crisis ...
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Deutsche Bank No. 2 underwriter of corporate bonds
San Francisco Chronicle
Number of the day $176 billion That's the amount of new corporate bonds underwritten by Deutsche Bank last year. The German bank moved up three places to No. 2 in global bond rankings for 2010, trailing only JPMorgan...
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Deutsche Bank Challenges JPMorgan's Bond Dominance
BusinessWeek
Deutsche Bank AG climbed three places to No. 2 in the global corporate bond underwriter rankings this year, challenging JPMorgan Chase & Co.'s three- year reign as the top manager of debt offerings.
http://jlne.ws/fjaYYn
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