Top Interest Rate Headlines 08-19-11: MSRB Files Proposed Rule That Would Bar Muni Advisors From Pay-To-Play Practices

MSRB Files Proposed Rule That Would Bar Muni Advisors From Pay-To-Play Practices
By Lynn Hume, the Bond Buyer
The Municipal Securities Rulemaking Board has filed a new proposed rule with the Securities and Exchange Commission that would bar municipal advisors from engaging in pay-to-play practices: making political contributions to state and local government officials to influence the award of advisory business.
http://jlne.ws/niJlWw

Rep. Van Hollen on U.S. Debt Panel Outlook
Bloomberg
U.S. Representative Christopher Van Hollen, a Maryland Democrat who sits on the 12-member deficit-cutting super committee, talks about the prospects for finding $1.5 trillion in budget savings. He speaks with Erik Schatzker on Bloomberg Television's "InsideTrack."
http://jlne.ws/rlKIUT

Belgium adds to call for euro bonds, bigger bailout
Reuters
Pressure on Germany and France to take radical action on the euro zone debt crisis mounted on Friday, as financial markets sagged further and Belgium added its support to calls for the region to issue debt jointly.
http://jlne.ws/qxCUcz

Housing markets: Low rates, no interest
The Economist
Mortgage rates reached record lows this week, according to the weekly market survey from Freddie Mac. The average rate on a 30-year fixed-rate loan fell to 4.15 percent, with borrowers paying an average point of 0.7 percent. That rate is down from 4.32 percent last week.
http://jlne.ws/qJBUwr

Unemployment rates rose last month in 28 states, and fell in 9, showing the job market is still weak
By CHRISTOPHER S. RUGABER, Associated Press
Unemployment rates rose in July in more than half the states for the second straight month, evidence that job growth remains weak nationwide.
http://jlne.ws/mVdOJU

Greece growth to be worse than thought
FT.com
http://jlne.ws/oxhVJw

Fed says it is treating US, European banks the same
Reuters
LONDON/NEW YORK: The Federal ReserveBank is treating foreign banks the same as their US peers, atop policymaker said on Thursday, contrary to a publishedreport that said the US central bank was keeping a closer eyeon European banks struggling with the continent's debt crisis.
http://jlne.ws/pk8bM7

Japan Urges G-7 Coordination on Markets
Toru Fujioka and Kate Anderson Brower - Bloomberg
Japan called on Group of Seven nations to work closely to counter market turmoil and Asian officials sought to calm investors as stocks slumped on concern the U.S. recovery is faltering. The G-7 needs “very close cooperation in coming weeks,” Japanese Finance Minister Yoshihiko Noda said in Tokyo, where the Topix index fell to a two-year low. Hong Kong financial official K.C. Chan urged investors to “stay calm” and not be “spooked by the market,” as the Hang Seng Index slumped 3.1 percent. In Beijing, Vice President Xi Jinping said his nation will avoid an economic hard landing.
http://jlne.ws/oWFi95

Free IR services from the NYSE get go-ahead
Inside Investor Relations | Business Insider
Flying in the face of protest, the SEC has approved a controversial new NYSE rule giving issuers free IR services. Service providers outside of the exchange’s coterie of partners bitterly opposed the change, saying it would squash competition and stifle innovation.
http://jlne.ws/picXL8