Fed’s Lockhart Maintains Net Positive Economic Outlook
By Carrick Mollenkamp, WSJ.com
Housing remains weak and consumers will pay close attention to higher gas costs even as other components of the economy are improving, said Dennis Lockhart, president of the Federal Reserve Bank of Atlanta.
http://jlne.ws/e9HTzV
Portuguese debt soars to record level
ANDREI KHALIP, Reuters
Portugal’s President decided on Monday to call a council of state on March 31 to consider when to hold a snap election as the country’s bond yields spiked to record highs on political uncertainty after the prime minister resigned.
http://jlne.ws/eLeUo1
Irish bank stress tests due later this week
FT.com
The evolving regulatory probe into the rate at which Libor was charged amid the crisis; bank capital and the investors mounting concerns that regulators are asking banks to hold too much capital; Ireland - Irish bank stress tests are due later this week, we predict what they might reveal.
http://jlne.ws/fLIjoT
Joseph Stiglitz: Bowles-Simpson plan will slow economic growth
By Charles Riley, CNNMoney.com
Nobel economics laureate Joseph Stiglitz issued a harsh indictment of the Bowles-Simpson deficit reduction proposal Monday, arguing the plan would slow economic growth and lead to a weaker America.
http://jlne.ws/fudc9B
The “Great” Recession in Canada: ...- 2011- Speeches- Publications and Research- Bank of Canada
Remarks by Jean Boivin, Deputy Governor of the Bank of Canada, Montréal CFA Society, Montréal, Quebec, March 28, 2011
I am very pleased to be able to deliver this speech today to the Montréal CFA Society – my first speech in Quebec as a Deputy Governor of the Bank of Canada. As active stakeholders in the Quebec and Canadian economies, you are at the centre of the economic life of the country. Thus, I don’t have to tell you that the past few years have been challenging...
http://jlne.ws/gMbVQx
GAO: Implementing Dodd-Frank Could Cost $2.9 Billion
By Victoria McGrane, WSJ.com
Implementing last year’s financial overhaul law could cost the federal government as much as $2.9 billion over five years, according to a summary of a coming Government Accountability Office report obtained by the Journal.
http://jlne.ws/ekxfqP
U.S. Consumer Spending Rose 0.7% in February
The New York Times/ Reuters
Consumer spending rose for an eighth straight month in February as households tapped savings to cover higher food and energy prices.
http://jlne.ws/ig5H20
US muni bond demand slips into big freeze
By Nicole Bullock, FT.com
A feared meltdown has yet to materialise. Instead, the US municipal bond market, blighted by concern that struggling states and cities could default on their obligations, has gone into a deep freeze.
http://jlne.ws/eGzpJ1
U.S. Treasury Futures Begin Trading on NYSE Liffe U.S. Today
Eurodollar Futures Traded Nearly 190,000 Contracts in the First Week-
New York, March 28, 2011 – NYSE Liffe U.S., the U.S. futures exchange of NYSE Euronext (NYX), today announced the immediate availability of 2-year, 5-year and 10-year U.S. Treasury futures along with U.S. Bond and Ultra Bond futures contracts. These products complement the successful Eurodollar contract that debuted on March 21 with 189,484 contracts traded on NYSE Liffe U.S. in the first week. By utilizing the revolutionary new clearinghouse, New York Portfolio Clearing (NYPC), customers trading any of these interest rate futures products will benefit from the combined value of trading on NYSE Liffe U.S. coupled with the “one-pot” margining power of NYPC.
http://jlne.ws/ij2Dy6
Bernanke braves the Fed-bashers
By Clive Crook, Financial Times
Ben Bernanke, chairman of the Federal Reserve, chose an interesting moment to announce, as he did last week, that the Fed will depart from tradition and start holding quarterly news conferences. The first is scheduled to follow the next meeting of the Federal Open Market Committee on April 27. The Fed chief will not be short of things to discuss.
http://jlne.ws/hgns1y
Three new retail bond listings in two weeks
Press Release
London Stock Exchange Group today welcomes the listing of a new bond to its Order book for Retail Bonds (ORB), the third such product to be launched on the platform in the last two weeks. The bond, issued by Lloyds TSB is also the fifth to be launched specifically for ORB so far this year.
http://jlne.ws/gHSVNe
Note to Banks: It’s Not 2006 Anymore
By GRETCHEN MORGENSON, NY Times
NOSTALGIA is running high on Wall Street for the days when junk mortgage underwriting and opaque derivatives trading juiced bank profits. As regulators continue to devise the machinery of the Dodd-Frank regulatory reform law, major financial institutions are working overtime in Washington to bring the good times back again. Unfortunately for taxpayers, some of these efforts are gaining traction, particularly regarding the regulation of derivatives and mortgages.
http://jlne.ws/ienpPf
Big retirement market luring banks
Worcester Telegram & Gazette
Retirement savings in the U.S. may swell to $4 trillion over the next four years and the nation's largest banks are angling for a bigger share of that money.
http://jlne.ws/fgUW7t
Irish Banks Edge Closer to Stress Test Results
By CHRIS V. NICHOLSON, NY Times
Ireland’s troubled banks may need up to 23 billion euros more to meet their capital requirements after the results of the stress tests are released by the Irish central bank on Thursday, Irish newspapers have reported.
http://jlne.ws/dKgUoA
Regions moves to 14th largest American bank
Mobile Press-Register
Regions Financial Group is now the 14th largest bank in the United States by assets, according to SNL Financial, a financial analysis firm based in Charlottesville, Va. The Birmingham-based owner of Regions Bank moved up one spot on the list,...
http://jlne.ws/f08ryK
US credit card groups target the wealthy
By Suzanne Kapner in New York - Financial Times
Credit card companies are offering a number of incentives to attract wealthy customers as they seek to reduce exposure to the increasingly indebted low-income borrowers.
http://jlne.ws/gDYxOE
FSA widens insider trading net to derivatives market
eFinancial News
The FSA has reportedly begun investigating the use of credit default swaps as a vehicle for insider trading, requesting information about the possibility of using the derivatives to carry out market abuse in the first instance of a crackdown on insider trading in these types of products.
http://jlne.ws/dE0sIT
Northern Trust to buy Citadel unit
Chicago Tribune
By Dow Jones Newswires Posted today at 6:01 a.m. Chicago-based Northern Trust Corp. has agreed to buy hedge fund manager Citadel LLC's fund administration business, Omnium LLC, a person familiar with the situation said Thursday. The value of the deal was not known.
http://jlne.ws/hgU6vD
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