ECB Rate Rises Likely To Be Gradual
FT.com Video
Jens Larsen, chief European economist at RCB Capital Markets, tells Richard Milne, capital markets editor, that because rate rises by the European Central Bank pose such a high risk to peripheral eurozone countries, he expects any increases to be small and slow.
http://jlne.ws/fkdt5I
Bank of America long-term profit forecast cheers investors
By Joe Rauch, Reuters
Bank of America Corp (BAC.N) expects high expenses for the next two years as it wrestles with mortgage losses, but longer term it hopes for pretax profit of some $40 billion annually, its chief executive said.
http://jlne.ws/i1pYff
Spanish Bonds Decouple From Portugal
By Marc Chandler, Credit Writedowns
There have been two main surprises this year. The first is how the jasmine revolutions in MENA. It is one thing to recognize the fragility of those ancient regimes, it is another thing to watch a number of government’s collapse. The second is that the European debt crisis seems to be having a marginal influence at best on the global capital markets. We had thought this was going to be the main driver at the start of this year.
http://jlne.ws/gCZg3I
PIMCO's Gross: No Way Out Of Debt Trap Gross Says U.S. Living Standards Doomed To Fall
Debt, debt and more mounting debt is plaguing countries around the globe. In this U.S., states across the country face a collective $125 billion shortfall for fiscal 2012, while Congress is facing a budget gap nearly 10 times that size.
http://jlne.ws/gicJYx
Bundesbank's Weber Goes to Chicago
By Brian Blackstone, WSJ.com
After years spent weighing the pros and cons of bank rescues, Greek and Irish bailouts and ECB interest rates as head of Germany’s Bundesbank, Axel Weber‘s biggest decision this summer may be Cubs or White Sox.
http://jlne.ws/fLpLmq
Lehman Fires Back At ISDA
By Patrick Fitzgerald, WSJ.com
Lehman Brothers Holdings Inc. fired back at the International Swaps and Derivatives Association, the derivatives-industry trade group which recently voiced its support for J.P. Morgan Chase & Co. in a $70 billion legal battle between the two banks
http://jlne.ws/gDHQOC
Bowles, Simpson Say Fiscal Crisis Could Come in 2 Years or Less
By Damian Paletta, WSJ.com
Erskine Bowles and Alan Simpson, who co-chaired the White House’s deficit-reduction commission last year, said at a Senate Budget Committee hearing on Tuesday that the United States could face a destabilizing fiscal crisis in two years or less.
http://jlne.ws/gl4Z35
US CFTC "out of step" with other regulators-Sommers
By Roberta Rampton, Reuters
The U.S. futures regulator is going too far and too fast toward pushing swaps onto new trading platforms, one of its top officials said on Monday. The Commodity Futures Trading Commission's proposed rule on swap execution facilities, which is open for public comment until Tuesday, is inconsistent with proposals by the Securities and Exchange Commission and international regulators, said Jill Sommers, a CFTC commissioner. "One of my primary concerns is that the CFTC is moving out of step in time, substance, or both with the SEC and the rest of the world in implementing trade execution requirements for standardized swaps," Sommers said in a speech to the Institute of International Bankers.
http://jlne.ws/hCdgNj
CFTC Is `Out of Step' With Global Derivative Rulemaking, Commissioner Says
Bloomberg
CFTC and Securities and Exchange Commission proposals for governing new swap-execution facilities may lead to inconsistent regulation, Sommers said today in a speech at the Institute of International Bankers annual conference in the U.S. capital.
http://jlne.ws/e3EmgD
EU lawmakers ban "speculative" derivatives trades
Reuters Finance News (EU) via Yahoo! UK & Ireland Finance
STRASBOURG, France (Reuters) - EU lawmakers have approved a ban on some trading in debt insurance derivatives from 2012 to curb what some policymakers say is speculation that deepens the euro-zone debt crisis.
http://jlne.ws/hg7BWa
Volcker may get the last laugh
eFinancial News
The Dodd-Frank regulatory reform act in the US gives banks plenty of time to adjust to its Volcker Rule, the disallowance of proprietary trading.
http://jlne.ws/i8BA16
ECB helped fuel Irish bubble, says ex-PM
By John Murray Brown in Dublin - Financial Times
The European Central Bank was guilty of a “major failure of supervision” in not restraining lenders from fuelling the property bubble in Ireland, says a former prime minister.
http://jlne.ws/gBtF7K
Nomura’s Experts Believe That “Europe Will Work”
Press Release
Nomura, the global investment bank, today published a major 128-page study on the economic and market prospects for Europe, and particularly the euro area.
http://jlne.ws/fqgq65
Deutsche Bank Lifts Its Profile in the U.S.
BY AARON LUCCHETTI - Financial Times
Like most of its Wall Street rivals, Deutsche Bank AG is wrestling with a pile of new rules in the U.S. that will crimp the company's risk-taking and profits. But the German bank has an extra challenge: overcoming its reputation as an outsider.
http://jlne.ws/g3uO6I
Bank of America hires UBS prime brokerage head
INO News
Bank of America Merrill Lynch on Monday named Stuart Hendel as head of its global prime brokerage unit. Hendel has held the same position at Swiss bank UBS for just under two years.
http://jlne.ws/hkbyYY
Goldman's Broadbent Appointed to Bank of England Panel
BusinessWeek
Goldman Sachs Group Inc. Senior European Economist Ben Broadbent was appointed to the Bank of England's Monetary Policy Committee to replace Andrew Sentance, who has been calling for higher rates for the past nine months.
http://jlne.ws/gRe6pb
Spain's cajas may lure U.S. investment
Market Watch
U.S. hedge funds and private-equity groups are reportedly smelling profits as Spain's government tries to reform its cajas, but the welcome mat is not quite out for the savings banks, which may still not be facing up to reality.
http://jlne.ws/fdTVgZ
Remarks by Chairman and CEO Rick Ketchum at the FINRA Fixed Income Conference—3/7/11
Press Release
http://jlne.ws/hi3itw
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