10-Year Auction Produces Record Low Yield
By Daniel Kruger and Susanne Walker, Bloomberg Businessweek
Treasuries dropped as the government sold $21 billion in 10-year notes at a record low yield and concern eased that Europe’s debt crisis may cripple the region’s financial institutions.
http://jlne.ws/nmoUMi
Italian Bond Auction Spells More Trouble
BY EMESE BARTHA AND NEELABH CHATURVEDI, WSJ.com
Troubles increased for Italy after its closely watched auction of government bonds met with tepid demand and the country had to fork out higher yields to lure buyers, fueling concerns that a Spanish bond sale on Thursday may also prove to be a tough sell.
http://jlne.ws/piwgv8
Supercommittee Open to Finding Extra Savings to Pay for Parts of Jobs Plan
By Jeffrey Sparshott and Corey Boles, WSJ.com
Lawmakers on the debt supercommittee say they are open to finding more long-term savings that could be put toward immediate measures to spur job growth, though such a move would complicate an already difficult task with a tight deadline.
http://jlne.ws/ofpGDa
MarketAxess weighs in to MiFID II debate
Press Release
MarketAxess Holdings Inc. (Nasdaq; MKTX), the operator of a leading electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other fixed income securities, reiterates its views on the range of proposals outlined in the Markets in Financial Instruments Directive II (MiFID II), which is scheduled to be finalized in October.
http://jlne.ws/qnVwIN
U.S. Can’t Sustain Spending and Tax Levels, CBO Head Says
Bloomberg
Congress would have to more than double its $1.5 trillion deficit-cutting goal to diminish the risk of a fiscal crisis and reduce the debt burden on the economy, the director of the nonpartisan Congressional Budget Office said.
http://jlne.ws/qNebhz
Fidelity Names Feingold to Run Magellan Fund
By Christopher Condon and Charles Stein, Bloomberg
Fidelity Investments named Jeffrey S. Feingold to run the $17.4 billion Magellan Fund, replacing Harry Lange who oversaw a two-thirds decline in assets in what was once the largest U.S. mutual fund.
http://jlne.ws/nbXNKw
Dallas Fed President: “Uncertainty” Is Hurting the Economy, Not Fed Policy
By Stacy Curtin, Yahoo! Finance
Dallas Fed President Richard Fisher says uncertainty, not Fed policy, is hampering the U.S. and global economy. This uncertainty is twofold, he said during a speech before the National Association for Economists on Monday. It stems from the wild display of dysfunction among our elected officials in Washington over the debt ceiling debacle and from the sovereign debt crisis that has spread across Europe with no real end or viable solution site. (See: Europe's Crisis Grows As Governments Refuse To Offer Real Solutions)
http://jlne.ws/oDAGgX
iMFdirect Blog: Interest Rates and Investor Decisions - The Long and Short of It
By Erik Oppers, IMF direct
What drives the investment decisions of investors with a longer time horizon? Our research found these investors generally do not look at differences in interest rates among countries when deciding where to invest.
http://jlne.ws/qVNXZC
Merkel Quells Speculation on Greek Default
BY MARCUS WALKER AND NOÉMIE BISSERBE, WSJ.com
German Chancellor Angela Merkel sought to quash talk that cash-strapped Greece might have to declare bankruptcy soon or even leave the euro zone, rebuking her junior coalition partner for fueling market speculation about Greece's fate.
http://jlne.ws/qHNk5N
Census: US poverty rate swells to nearly 1 in 6
Hope Yen, Associated Press
The ranks of the nation's poor have swelled to a record 46.2 million -- nearly 1 in 6 Americans -- as the prolonged pain of the recession leaves millions still struggling and out of work. And the number without health insurance has reached 49.9 million, the most in over two decades.
http://jlne.ws/oLPPqc
Italian Borrowing Costs Jump at $8.8B Auction
By Jeffrey Donovan and Lorenzo Totaro, Bloomberg
Italian borrowing costs jumped at a 6.5 billion-euro ($8.8 billion) bond auction as contagion from Europe’s debt crisis leaves investors shunning the region’s most-indebted nations.
http://jlne.ws/rlwmoF
DTCC Announces Initiative To Revamp Processing of Continuous Net Settlement Obligations
Press Release
The Depository Trust & Clearing Corporation (DTCC) has proposed changing the way its clearing agency subsidiaries, The Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC), process Continuous Net Settlement (CNS) transactions. The enhanced process would align CNS processing into the risk management control structure used by DTC to reduce risk and boost liquidity efficiencies in the settlement of almost $870 billion in equities that trade in the U.S. markets each day.
http://jlne.ws/qtsTXj
BOX and ISE have entered an agreement to resolve a patent infringement case filed by BOX against ISE in May 2011
Press Release
http://jlne.ws/nnzZUl
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