Selasa, 01 Februari 2011

Top Interest Rate Headlines 02-01-11: Egypt: Assessing the Ripple Effect

Roubini Global Economics - Egypt: Assessing the Ripple Effect
By Rachel Ziemba and Ayah El Said, Roubini Global Economics
In this analysis, we survey the economic and financial implications of the continuing unrest in Egypt, and identify the most vulnerable countries within the MENA region. Regarding the wider implications, the oil market remains the key link between instability in the Middle East and the global economy. Although we see very little risk of an oil supply shock through the Suez Canal, prolonged uncertainty could further pressure[...]
http://jlne.ws/hjNK2d

What was banking like before the Fed? How did the Fed evolve?
Federal Reserve Bank of San Francisco
The Federal Reserve System was established by Congress nearly a century ago to serve as the U.S. central bank. President Woodrow Wilson signed the Federal Reserve Act into law on December 23, 1913.
http://jlne.ws/fUwVdX

SEC to propose rules for swap trading platforms
By Sarah N. Lynch, Reuters
U.S. securities regulators are expected to be less heavy-handed than U.S. futures regulators in moving privately negotiated swaps onto trading platforms when they meet Wednesday to vote on their proposal.
http://jlne.ws/gqmnWX

Treasury 4-Weeks Go At 0.160% High Yield
By Gary Siegel, The Bond Buyer
The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.160% high yield, a price of 99.987556.
http://jlne.ws/haLe6y

Manufacturing Notches Strong Growth
By Michael S. Derby and Jeff Bater, WSJ.com
Manufacturing activity delivered a gangbusters performance in January and expanded by its best pace since May 2004, amid strong gains in both employment and inflation. But a separate report noted weakness continued in the housing sector. U.S. construction spending fell a second consecutive month in December, driven down by a pullback by home builders and a sharp drop in investment on projects by the federal government.
http://jlne.ws/h8rq6a

Indian Banks Raise Interest Rates
By Nupur Acharya, WSJ.com
Several Indian lenders on Tuesday raised their interest rates, in either deposits, loans and in some cases both, roughly a week after the Reserve Bank of India resumed its rate-tightening cycle to tame rising prices.
http://jlne.ws/eY5rwu

World-Wide Factory Activity, by Country - Real Time Economics
By Phil Izzo, WSJ.com
Global manufacturing started 2011 on a strong note with most countries in expansionary territory and strong gains in the U.S., U.K. and euro zone. Just Greece and Australia remained in contractionary territory in January, according to national manufacturing purchase managers indexes compiled by Markit, the Institute for Supply Management and others. Asia also continued its factory-sector expansion, even as China’s official measure posted a slowing in growth.
http://jlne.ws/eQcSwA

ELX Announces Record Volume and Market Share in U.S. Treasuries for the Month of January
Press Release
New York, Feb 1, 2011 – ELX Futures, L.P. (ELX), a leading electronic futures exchange, announced today that January was a record-setting month for its U.S. Treasury futures contracts. ELX established records in single-day total volume and market share for U.S. Treasuries, with over 100K contracts traded on January 5, 2011 and  market share hitting nearly 5% on January 10.
http://jlne.ws/igDEDv

CFTC Grants Clearing License to New York Portfolio Clearing
By Matthew Leising, Bloomberg
The Commodity Futures Trading Commission granted a clearing license to New York Portfolio Clearing, a plan by NYSE Euronext and the Depository Trust & Clearing Corp. to back interest-rate futures with its clearinghouse.
http://jlne.ws/e3jeOJ

William Daley becomes White House's business connection
By Becky Yerak, Chicago Tribune
Who will take over William Daley's usual table at Rosebud? That's not just another way of asking if New York-based JPMorgan Chase & Co. intends to name a replacement powerbroker as Midwest chairman, now that Daley has moved to Washington to become the new White House chief of staff.
http://jlne.ws/gsAmOU

Wells Fargo Securities Joins CME Group for Clearing of OTC Interest Rate Derivatives
Business Wire
Wells Fargo & Company (NYSE:WFC) - one of the G14 members working with the Federal Reserve to reduce risk in the derivatives industry - today announced its subsidiary Wells Fargo Securities, LLC has joined the CME Group, the world's leading and most diverse derivatives exchange and clearing house, for clearing of over-the-counter interest rate derivatives ...
http://jlne.ws/fQwGI9

Deutsche Bank chief to retire in 2013
Deutsche Welle
Deutsche Bank's chief executive Josef Ackermann has told news magazine Focus that he does not want to renew his contract. It remains unclear who will fill the Swiss banker's shoes at Germany's biggest private bank.
http://jlne.ws/ePEXz6

Treasury's Warrior at the Negotiating Table
By MICHAEL J. DE LA MERCED, NY Times
WASHINGTON When David N. Miller joined the Treasury Department during the height of the financial crisis, the government's bailout programs weren't expected to break even, let alone turn a profit.
http://jlne.ws/dEkHre

Brazilian investment bank snaps up Banco PanAmericano

By Joe Leahy in Rio de Janeiro, Financial Times
Banco PanAmericano, the Brazilian bank that came close to collapse following the global financial crisis, has been sold to a local investment bank amid growing speculation that its losses may have been higher than earlier thought.
http://jlne.ws/hUHn3y

SEC probes Harrisburg bond data
The Patriot-News
The U.S. Securities and Exchange Commission is looking into whether Harrisburg provided appropriate information to bond investors, a city spokesman said Monday. Mayor Linda Thompson's office confirmed it is complying with requests for information from the SEC.
http://jlne.ws/fTPZsJ

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