ISDA Names George Handjinicolaou Deputy CEO, Head Of Europe
By Katy Burne, DOW JONES NEWSWIRES
The International Swaps and Derivatives Association has tapped George Handjinicolaou as its deputy chief executive and head of Europe, the association announced Tuesday.
http://jlne.ws/qRpS7U
India's Economic Expansion Slows in Second Quarter
By VIKAS BAJAJ, The New York Times
India’s growth rate continued to slide in the second quarter of the year, falling to 7.7 percent, the government reported Tuesday.
http://jlne.ws/pAkTvL
Lehman set for creditor vote on $65-billion payout
By Nick Brown, The Globe And Mail
Creditors of Lehman Brothers Holdings Inc. were granted approval Tuesday to vote on the failed bank’s $65-billion (U.S.) payback plan, clearing a major hurdle in the path to ending the biggest bankruptcy in U.S. history.
http://jlne.ws/nJx2nW
A Few Fed Policy Makers Favored ‘More Substantial’ Move Aug. 9
By Jeannine Aversa and Scott Lanman, Bloomberg
A few Federal Reserve policy makers this month favored more aggressive action to stimulate the economy and lower unemployment, minutes of their meeting released today showed.
http://jlne.ws/pxXDlw
FRB: FOMC Minutes, Aug. 9, 2011
A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of the Board of Governors in Washington, D.C., on Tuesday, August 9, 2011, at 8:00 a.m...
http://jlne.ws/pal4GB
Fed Minutes Reveal Sharp Division
By Mark Gongloff, WSJ.com
The minutes of the Fed’s August 9 meeting just came out, and sure enough, policy makers were just as divided as we expected about whether to tighten or loosen monetary policy.
http://jlne.ws/r09Mrw
Fed should not undo rate commitment: Kocherlakota
Reuters
A top Federal Reserve official who dissented from the U.S. central bank's move this month to ease monetary policy further signaled he would drop his opposition.
http://jlne.ws/r2oBRL
Lehman Credit Veteran Joins Newedge Bond Team
By Katy Burne, DOW JONES NEWSWIRES
Newedge Group has hired Larry McDonald as a senior director in corporate credit sales, a newly created position as the brokerage firm continues to build out its fixed-income platform. He started Aug. 22 in New York and focuses on corporate bonds -- specifically convertible and junk bonds -- reporting to David Blanquart, Newedge's global head of fixed income.
http://jlne.ws/ofQYMB
US house prices fall 4.5% in June
By Shannon Bond, FT.com
http://jlne.ws/nbOpLr
Fed's Evans backs strong policy accommodation
By Leah Schnurr and Jonathan Spicer, Reuters
Chicago Federal Reserve Bank President Charles Evans said on Tuesday he favored strong central bank accommodation for a substantial period of time, as the U.S. economy looks to be moving "sideways."
http://jlne.ws/qtfepv
Economy: Confidence Drops to Lowest Level Since April 2009
Reuters
U.S. consumer confidence crumbled in August to its lowest level in more than two years as the fallout from political wrangling over a budget deal took its toll, according to a private sector report released Tuesday.
http://jlne.ws/pCQYvR
Bill Gross At Long Last Admits Wrongness
Wall Street Journal Blogs
Well, we can stop our long "when will Bill Gross be right" vigil. He's admitted he was wrong.
http://jlne.ws/omASrT
Pimco’s Gross rues US debt ‘mistake’
By Dan McCrum in New York, Financial Times
Bill Gross, manager of the world’s largest bond fund for Pimco, has admitted that it was a mistake to bet so heavily against the price of US government debt. Mr Gross emptied his $244bn Total Return Fund of US government-related securities earlier this year in a high-profile call that has backfired as the bond market has rallied. As of Monday, Pimco’s flagship fund ranked 501th out of 589 bond funds in its category.
http://jlne.ws/p90q2e
CFTC's Sommers: Blocking FIA-Isda document was "huge waste of resources"
Risk.net
A contentious draft rule from the Commodity Futures Trading Commission (CFTC) has revealed partisan divisions within the agency. The CFTC's two Republican-appointed commissioners argue the proposal - which shuts the door on a documentation project run by the Futures Industry Association (FIA) and the International Swaps and Derivatives Association - was unnecessary, and claim they were kept in the dark ahead of the agency's rule-making meeting on July 17.
http://jlne.ws/ox6oXo
IASB criticises Greek debt writedowns
By Adam Jones in London and Jennifer Thompson in Paris - Financial Times
Some European financial institutions should have taken bigger losses on their Greek government bond holdings in recent results announcements, according to the body that sets their accounting rules.
http://jlne.ws/oXA9nL
Sovereign spreads challenging cherished notions
By Gillian Tett, Financial Times
A few years ago, I pointed out in a column that the cost of insuring the US government against a default in the credit derivatives market, had risen above that of McDonalds, the US fast food company, for the first time.
http://jlne.ws/qeru4f
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