In Debt Watch, Next Shoe to Drop Could be Moody’s
By Damian Paletta, WSJ.com
Wall Street and foreign investors might finally begin paying attention to the scrum over deficit reduction in Washington this week. That’s because Moody’s Investors Service could put the U.S. government’s Aaa bond rating on review for a possible downgrade soon. Moody’s had warned on June 2 that a “review” could come by mid-July “if there were no progress on increasing the statutory debt limit.”
http://jlne.ws/rpi5WK
‘Double Eagle’ Gold Fight Recalls Last U.S. Default
By Pham-Duy Nguyen, Bloomberg
The 10 rare Double Eagle gold coins at the heart of a federal trial in Philadelphia are remnants of the last U.S. government default, almost eight decades before the current stalemate in Congress over raising the debt limit.
http://jlne.ws/omXLOm
Obama: Time to "eat our peas" and pass debt deal
By Stephanie Condon, CBS News
President Obama is still seeking the largest deficit reduction deal possible as part of a package deal to raise the debt ceiling, he said in a press conference today. "I continue to push congressional leaders for the largest possible deal," he said from the White House. "It is possible for us to construct a package that would be balanced, would share sacrifice [and] would involve both parties taking on their sacred cows."
http://jlne.ws/nHOzY7
ICAP appoints Deutsche Bank executive as COO
By Alex MacDonald, MarketWatch
U.K. based brokerage firm ICAP PLC (IAP.LN) said Monday that Mark Price will join the firm as group chief operating officer from Oct. 3, subject to regulatory approval.
http://jlne.ws/oMNVAd
Wall Street Systems extends Central Bank solution to National Bank of Romania
Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today announces the signing of the National Bank of Romania (NBR) for efficient reserve management, asset management and monetary policy execution.
http://jlne.ws/oZlzR2
Regulator strengthens enforcement authority
Risk.net
The Commodity Futures Trading Commission (CFTC) passed a final rule to expand its anti-manipulation powers under the Dodd-Frank Wall Street Reform and...
http://jlne.ws/qPMd43
DTCC Names Adam Wysota Chief Technology Officer
The Depository Trust & Clearing Corporation (DTCC) announced today that Adam Wysota, an information technology veteran with
more than 20 years of experience in the field, joined the organization on July 5 as managing director and chief technology officer.
http://jlne.ws/oqER4D
DJ MarketAxess Bond Trading Platform Beefs Up CDS Capabilities
By Katy Burne, Dow Jones Newswires
MarketAxess Holdings Inc. introduced a suite of enhancements to its electronic bond-trading platform Monday that will allow traders of credit default swaps to compare prices from multiple dealers at once and trade more efficiently. The move comes as market participants prepare for a sweeping regulatory overhaul of privately traded, or "over the counter" derivatives. The final rules stemming from the U.S. Dodd-Frank Act, passed last summer, are expected to be ready later this year and to be implemented sometime in 2012.
China to Halt Tightening Campaign
BY TOM ORLIK, WSJ.com
When it comes to China's monetary policy, it makes sense to distinguish what the government should do from what it probably will do.
http://jlne.ws/pL3KB4
BofA Again Faces Capital Conundrum
By DAVID REILLY, WSJ.com
During the financial crisis, investors constantly fretted over bank capital. Now, Bank of America again faces questions over its ability to withstand losses as it struggles with mortgage problems.
http://jlne.ws/pTJcsI
European Sovereign CDS Prices Hit Record High
By Art Patnaude and Carol Dean, DOW JONES NEWSWIRES
Default insurance costs for Ireland continued the move to an all-time high Monday amid expectations of a ratings downgrade, although Italy remained in the spotlight.
http://jlne.ws/rsm269
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