2010/09/14 17:33=DJ DATA SNAP: German ZEW Sep Indicator Falls Sharply
2010/09/14 17:32*DJ Hungarian 3-Month Treasury Bill Average Yield Set At 5.48%
2010/09/14 17:32*DJ Hungary Sells HUF60B 3-Month Treasury Bills
2010/09/14 17:31=DJ DATA SNAP: Euro-Zone July Annual Indus Output Rise Eases From June
2010/09/14 17:25*DJ Japan Sengoku: DPJ Election Has Given Kan "Confidence" To Fulfill Duty As PM
2010/09/14 17:20=DJ DATA SNAP: Euro-Zone Wage Growth Slowed In 2Q
2010/09/14 17:20*DJ Greek 26-Week Treasury Bill Bid-To-Cover Ratio 4.54
2010/09/14 17:19*DJ 10Y Greek/German Yield Spread Flat At 902Bps After T-Bill Sale
2010/09/14 17:19*DJ Greek 26-Week Treasury Bill Uniform Yield Set At 4.82%
2010/09/14 17:15*DJ Greece Sells EUR1.17B 26-Week Treasury Bills
2010/09/14 17:09*DJ 3-Month Euribor Falls To 0.877% Vs 0.879% Monday
2010/09/14 17:07*DJ German ZEW: Risk Of Double-Dip In Germany Remains Low
2010/09/14 17:06*DJ Euro Slips After Mixed ZEW Disappoints
2010/09/14 17:05*DJ German ZEW Sep Current Conditions 59.9 Vs 44.3 In Aug
2010/09/14 17:05*DJ Bunds Rise As ZEW Index Prints Below Forecasts
2010/09/14 17:04=DJ DATA SNAP: UK August CPI Higher Than Expected At 3.1% On Year
2010/09/14 17:03*DJ Japan PM Kan Hints At Forming New Cabinet By Early Next Week - Kyodo
2010/09/14 17:03*DJ German Sep ZEW Econ Expectations -4.3 Vs 14.0 In Aug
2010/09/14 17:03*DJ German Sep ZEW Econ Expectations Forecast At 9.0
2010/09/14 17:02*DJ Euro-Zone Jun Output Revised To -0.2% MM; +8.3% YY
2010/09/14 17:01*DJ Euro-Zone Jul Indus Output Forecast +0.2% MM; +8.0% YY
2010/09/14 17:00*DJ Euro-Zone 2Q Labor Costs +1.6% YY Vs +1.9% YY In 1Q
2010/09/14 17:00*DJ Euro-Zone Jul Indus Output Unch On Mo; +7.1% On Yr
2010/09/14 17:00*DJ Euro-Zone 2Q Wages +1.5% YY Vs +1.8% YY In 1Q
2010/09/14 16:51*DJ Japan PM Kan: No Plans To Dissolve Lower House For General Election
2010/09/14 16:49*DJ German Fin Min: Basel Rules Give Banks Means To Support Recovery
2010/09/14 16:44*DJ Japan PM Kan: To Consider More Steps For Econ
2010/09/14 16:43*DJ Japan PM Kan: Holding Extra Parliamentary Session Will Be Necessary
2010/09/14 16:40*DJ Japan PM Kan: Nothing Decided Yet On Party Exec Appointments
2010/09/14 16:36*DJ German Fin Min: High Govt Deficits Were Key Cause Of Crisis
2010/09/14 16:35*DJ Sterling Jumps After Above Forecast Inflation Print
2010/09/14 16:33*DJ 10Y UK/German Yield Spread Up To 70Bps After CPI
2010/09/14 16:32*DJ Gilts Slip As UK CPI Data Above Estimates
2010/09/14 16:31*DJ UK Aug RPI +0.4% On Month; +4.7% On Year
2010/09/14 16:31*DJ UK Aug RPI Was Forecast +0.3% On Month; +4.6% On Year
2010/09/14 16:30*DJ UK Aug Core CPI Was +0.7% On Month; +2.8% On Year
2010/09/14 16:30*DJ UK Aug CPI Was Forecast +0.4% On Month; +3.0% On Year
2010/09/14 16:30*DJ UK Aug CPI +0.5% On Month; +3.1% On Year
2010/09/14 16:27DJ Soaring Swiss Franc Hits Parity Against Dollar - EBS
LONDON -The sky-high Swiss franc has hit a major new milestone, as it shot up to parity against the dollar for the first time since December 2009 Tuesday.The Swiss currency--seen as a refuge in times of global economic stress--has rattled up to a series of record highs against the euro of late.Now investors are buying it against the dollar in growing numbers too, illustrating the franc's broadening appeal and the depth of nerves about global financial markets.Some traders say that further gains for the so-called Swissie against the dollar may be tough, as such psychological high-points often offer hefty resistance for short-term shifts.At 0801 GMT, the dollar was at CHF1.0010, having dipped as low as CHF0.9996 a few moments beforehand.
2010/09/14 16:26*DJ German Fin Min: Air Travel Levy Right, Properly Designed
2010/09/14 16:22DJ Credit Suisse Needs No Capital Hike For Basel III - Report
ZURICH -Credit Suisse Group doesn't need to increase its capital to comply with the new regulatory framework under Basel III, Chief Executive Brady Dougan said.Some adjustments will be necessary but the bank has enough time to implement the changes, Dougan told daily St. Galler Tagblatt. Credit Suisse will be able to use operating profits to meet requirements regarding the quality of the capital.'Therefore, we don't need to raise capital and also don't anticipate any significant changes in the dividend. I also don't think we have to adjust our growth plans,' Dougan said.Newspaper website: www.tagblatt.ch
2010/09/14 16:19*DJ German Fin Min Sees New Debt In 2011 At EUR57.5B
2010/09/14 16:18*DJ German Fin Min: Reducing Deficit Through '14 Sustainable
2010/09/14 16:14DJ S&P Analyst: Japan DPJ Election Result Not Credit Positive
TOKYO -Naoto Kan's victory Tuesday in a ruling party leadership race, which will keep him in the prime minister's office for a while longer--is not a positive signal 'at all' for Japan's credit rating, given the party's big-spending promises, said a senior sovereign analyst at Standard & Poor's Ratings Services. 'You can't say this is credit-positive because the party's policy pledges, such as making highway tolls free, are negative for the credit' rating of the Japanese government, Takahira Ogawa told Tuesday. Ogawa said the credit health of Japan, which is struggling under a growing mountain of debt, will continue to deteriorate if the government does not act forcefully to improve its fiscal health. 'There's no way that we will revise Japan's rating outlook to stable from negative' at this point, he said. S&P has a negative outlook of Japan's AA rating. Kan won the fiercely contested party leadership race, defeating political heavyweight challenger Ichiro Ozawa to secure his reelection as Japan's prime minister. The Democratic Party of Japan , because it controls the powerful Lower House of Parliament, determines the country's prime minister. By convention, the ruling party's leader gets the top job in Japan's government. It must be put to a vote in Parliament.
2010/09/14 16:12*DJ Ozawa: To Work Hard To Make DPJ-Led Govt Successful - Kyodo
2010/09/14 16:11*DJ German Fin Min: Economy On The Right Track
2010/09/14 16:10*DJ German Fin Min: Sees '10 New Govt Debt Between EUR50B-EUR60B
2010/09/14 16:05DJ Kan Declared Winner Of DPJ Vote, To Remain Japan Prime Minister
2010/09/14 15:47DJ Kan Declared Winner Of DPJ Vote, To Remain Japan Prime Minister
TOKYO -Naoto Kan won a fiercely contested party leadership race Tuesday, defeating political heavyweight Ichiro Ozawa to secure his reelection as Japan's prime minister. The result may suggest a bit of political stability in a country that has had five leaders in four years--and two since the Democratic Party of Japan took power for the first time a year ago-- and faces immense policy challenges, from a growing mountain of public debt to entrenched deflation and a surge in the yen to 15-year highs against the dollar that threatens the export-dependent economy. Kan won 721 points versus Ozawa's 491 points in the race for president of the DPJ, which was open to party members only. The public overwhelmingly supports Kan in opinion polls. The DPJ, because it controls the powerful Lower House of Parliament, determines the country's prime minister. By convention, the ruling party's leader gets the top job in Japan's government. It must be put to a vote in Parliament.
2010/09/14 15:43DJ Tokyo Shares End Lower Ahead Of DPJ Election Results -2-
2010/09/14 15:28DJ Fitch: Kan's Victory Not A Key Near-Term Credit Rating Driver
SINGAPORE -Fitch Ratings said Tuesday that it doesn't plan to change its ratings on Japan after Prime Minister Naoto Kan won a party leadership race against Ichiro Ozawa to secure his re-election. 'Kan's victory is not a key near-term credit rating driver,' Andrew Colquhoun, Fitch's Head of Asia-Pacific Sovereign Debt, told . '(Kan's win) may increase political room for the government to introduce a fiscal consolidation plan which will support ratings,' Colquhoun added.
2010/09/14 15:22DJ French Minister Sees 2010 Deficit, GDP Better Than Forecast
PARIS -French Budget Minister Francois Baroin Tuesday said France will better its forecasts for gross domestic product and the public deficit this year."We will have good news, as all the indicators are gradually turning to green and we are going in the right direction," Baroin said."We will have growth--as the prime minister said last week--slightly above what we were expecting. We had forecast 1.4% [GDP] growth; we will probably be at 1.5%," he said on French station RTL."We can say today that we will be below the 8% public deficit [as a percentage of GDP] at the end of the year," Baroin also said. "We'll definitively be below 8%, that is sure," he added.That means that narrowing the public deficit to 6% of GDP next year will not be as greater step as originally expected, Baroin said.The government aims to trim the public deficit to 3% of GDP by 2013.In the interview, Baroin did not mention the government's 2011 growth forecast, which was cut in August to a 2% GDP expansion from 2.5% previously.Radio station website: www.rtl.fr
2010/09/14 15:22*DJ European Banks Raised To Neutral By Morgan Stanley
2010/09/14 15:10DJ JGBs Rise On Stronger Yen; Outlook Up To DPJ Presidential Race
TOKYO -Japanese government bonds were higher Tuesday as the stronger yen continued to darken the outlook for the country's export-oriented economy, prodding investors to seek safe-haven assets. But traders said any further rises in JGBs in the near term depend on the result of the ruling Democratic Party of Japan's presidential election today, with an outcome expected at around 0630700 GMT. The U.S. dollar briefly plunged to a fresh 15-year low against the yen at Y83.25 during the Asian trading session, driving the Nikkei Stock Average down 0.2% to close at 9,299.31. 'Investors fear Japan's economy could remain sluggish for an extended period,' a trader at a Tokyo securities house said. 'As the yen has shown no sign of weakening, demand for longer-term JGBs likely won't peter out soon.' With growing risk aversion making market participants eager to boost superlong-dated debt holdings, demand was solid at an auction of 20-year JGBs earlier in the day. As of 0600 GMT, the benchmark 10-year JGB yield was down 1.5 basis points at 1.130%, and lead December JGB futures closed at 141.38, up 0.10. The 20-year JGB yield also fell 0.5 basis points to 1.930%. Ichiro Ozawa, a powerful DPJ lawmaker and advocate of aggressive fiscal policy, is challenging Prime Minister Naoto Kan for leadership of the DPJ in a close race. The winner will be prime minister. If elected, Ozawa has vowed to implement a series of costly stimulus measures promised by the DPJ in its 2009 Lower House election manifesto. That pledge is fanning fears that an Ozawa premiership could worsen the country's already debt-ridden fiscal state by issuing more bonds to finance such steps. 'Investors could again become cautious about Ozawa's fiscal policy stance and start to sell JGBs if Ozawa takes office, putting upward pressure on longer-term yields,' Mitsubishi UFJ Morgan Stanley Securities chief strategist Jun Ishii said. Traders expect longer-term JGBs to gain favor if Kan stays in his post as he has promised to put Japan's fiscal discipline in place. Still, some analysts say investors are unlikely to actively buy back superlong-term debt. 'Even if Kan continues to be prime minister, he might have to take additional economic stimulus measures and could be forced to issue more JGBs down the road,' said Masashi Shimominami, a bond market analyst at Mizuho Securities. 'It's uncertain whether Kan's continuation in the premiership will help push superlong-term yields lower.' On Tuesday, the Ministry of Finance sold Y1 trillion of the 1.9% bonds at a lowest price of 99.00, matching traders' expectations. The bonds yielded 1.969% at the lowest price, and 1.955% at the average price of 99.20. The bid-to-cover ratio--a measure of demand that compares the number of bids received with bonds on sale--was 4.56, much higher than 2.86 in August.
2010/09/14 15:06*DJ FTSE 100 Up 0.1% After The Open
2010/09/14 15:02*DJ Stoxx Europe 600 Index Dn 0.1% After The Open
2010/09/14 15:01DJ Forex Options: Dollar/Yen Options Up As Spot Falls 15 Year Low
TOKYO -Dollar/yen options rose in Tokyo Tuesday as the greenback's fall to a 15-year low during Asian trade as prompted exporters and other players to pick up protection against further declines. Benchmark one-month at-the-money dollar/yen volatilities increased to 11.85%/12.55% in Tokyo from 11.50%/12.20% in New York Monday as the dollar fell to Y83.25, its lowest level since May 31, 1995. The dollar stood at Y83.40 as of 0300 GMT. An options dealer at a major Japanese bank said that if Japanese Prime Minister Naoto Kan secures the presidency of the Democratic Party of Japan, the exchange rate may slightly extend its falls, and if the rate falls below Y83, benchmark volatilities may rise as high as 13.00%. 'If Kan secures the premiership, the yen may strengthen slightly since markets don't expect any drastic change in government policy (on the yen's recent strength),' the dealer said. The dealer said one player bought two-month at-the-money straddles with implied volatilities of 12.6% for about $100 million. Straddles profit on wide swings in the exchange rate.
2010/09/14 14:59*DJ Japan PM Kan To Hold Press Conference 0830 GMT
2010/09/14 14:54*DJ S&P: Japan Needs To Take Steps To Improve Fiscal Health
2010/09/14 14:53*DJ Fitch: Kan's Victory Not A Key Near-Term Credit Rating Driver
2010/09/14 14:51*DJ S&P: Unthinkable To Hike Japan Credit Outlook To Stable Now
2010/09/14 14:50*DJ Yen Rises Broadly After Kan Wins Japan DPJ President Vote
2010/09/14 14:50*DJ S&P Analyst: Japan DPJ Election Result Not Credit Positive
2010/09/14 14:47DJ Tokyo Shares End Lower Ahead Of DPJ Election Results
2010/09/14 14:45*DJ Euro Falls Vs Yen After Kan Wins Japan DPJ President Vote
2010/09/14 14:42*DJ Dollar Falls Vs Yen After Kan Wins Japan DPJ President Vote
2010/09/14 14:41*DJ Kan Declared Winner Of DPJ Vote, To Remain Japan Prime Minister
2010/09/14 14:33DJ CME: Test Orders Inadvertantly Placed On CME Globex Energy, Metals Mkts
CME Group Inc. said Tuesday that test orders which should have been posted into a quality assurance testing environment were inadvertently placed into active energy and metals markets on CME Globex, its electronic futures platform. The test orders were placed on Globex for a six-minute period from 2:38 p.m. Central Daylight Time, CME said. 'As soon as we became aware of the issue, we began working with affected customers and implemented other corrective steps. We have also kept the Commodity Futures Trading Commission apprised of developments related to this event,' it said. CME didn't specify the amount of test orders that were placed on Globex.
2010/09/14 14:27DJ Japan Ozawa: BOJ Law Change In Sight
TOKYO -Ichiro Ozawa said Tuesday a change in the Bank of Japan Law is in sight, signalling he'd push hard for tough measures to force the central bank to do more to end years of deflation in Japan if he wins a ruling party leadership race later today. 'We must give our priority to dealing with economic measures and overcoming deflation,' Ozawa said. 'We must use all measures from both the fiscal and monetary sides, while eyeing institutional reforms such as changes to the Bank of Japan Law as well as policy steps such as inflation targeting,' he added. Ozawa is challenging Prime Minister Naoto Kan for leadership of the Democratic Party of Japan, which comes with it the premiership because the party controls the powerful lower house of Parliament. He made the remarks to a crowded hall of DPJ supporters and lawmakers ahead of a vote by DPJ Diet members.
2010/09/14 14:25=DJ Chinese Lead Prices Supported This Year, But Strength To Wane
SHANGHAI -Chinese environmental regulations will keep lead prices well supported this year, but gains will be limited and the market may soon run out of steam.Higher production costs and scarcer raw materials will likely underpin the local lead market, and bolster London lead futures, but a cooling automotive sector, new smelting capacity and a greater focus on recycled lead could sap the metal's strength.Industry executives at a weekend conference forecast lead prices to average between CNY16,500 and CNY17,000 a metric ton in the October-December period.Lead has gained about 10% this year and was around CNY16,400/ton Monday.An executive at a mid-sized lead smelter in Guangxi province, a key producing region, said that with smelters switching to advanced refining technology at Beijing's behest, production costs will rise.'Better smelting technology also requires concentrates of higher grade, so there'll be less supply of suitable concentrates.' Futures To Benefit London Metals Exchange lead futures will also likely benefit from strong prices in China, the world's largest lead producer and consumer.'LME lead will show substantial strength and resilience for the rest of the year,' Xia Qing, an analyst with commodity information portal CBI China, said.He forecast a test of $2,350/ton by December. Three-month LME lead ended Friday's PM kerb at $2,183/ton, down $17.Beijing aims to phase out 243,000 tons of outdated lead refining capacity by the end of this year, and has tightened checks on smelters.Still, the impact will be counterbalanced by new capacity.'Lead prices won't gain too much because growth in new smelting capacity far exceeds that of demand,' an executive at a battery maker in Wuhan said.Data from the Shanghai Nonferrous Metals Market show that around 600,000 tons of new lead smelting capacity will start production in the second half of the year. Recycled Lead Production To Weigh Lead prices may come under pressure in the next few years, as China produces and uses more recycled lead as part of its environmentally-friendly push, and as vehicle output cools.Recycled lead reduces production costs and environmental damage for battery makers, 'but for lead smelters, that's pretty bearish,' a senior executive from Chaowei Enterprise, China's largest lead-acid battery maker by output, said.Batteries account for about 75% of China's refined lead demand, aided by robust auto sales and increased production of electric bicycles in the last two years.But as every replaced car or bicycle battery means a new supply source of recycled lead, 'it would be natural for battery makers to turn to the recycled metal as it is cheaper but more environmentally friendly,' the Chaowei executive said.'It's the trend to source recycled metal for battery making as around 70%-75% of battery makers in overseas markets have already chosen recycled lead as their raw material.'While auto output is set to hit a record this year, it will likely moderate going forward, the executive in Wuhan said.'I think lead demand from electric bikes has reached its peak because with this large base number, the pace of growth in the next few years is definitely set to slow,' while overall car output will also cool. China is forecast to produce a record 15 million passenger cars this year, up from 13 million last year, while electric bicycle production is growing by 20 million a year.
2010/09/14 14:05=DJ WORLD FOREX: Yen Rolls To 15-Year High Vs Dollar Ahead Of DPJ Vote -3-
2010/09/14 14:02*DJ Nikkei Stock Average Closes Down 0.2% At 9299.31
2010/09/14 14:01=DJ WORLD FOREX: Yen Rolls To 15-Year High Vs Dollar Ahead Of DPJ Vote -2-
2010/09/14 13:58=DJ DATA SNAP: French August CPI +0.2% On Month; +1.4% On Year
2010/09/14 13:41*DJ Japan Ozawa: Will Use All Fiscal, Monetary Policy Steps For Econ
2010/09/14 13:37=DJ WORLD FOREX: Yen Rolls To 15-Year High Vs Dollar Ahead Of DPJ Vote
2010/09/14 13:32*DJ Japan Ozawa: Beating Deflation Must Be Priority
2010/09/14 13:31DJ Bank Indonesia Official: Sept On-Year Inflation Likely Below 6%
JAKARTA -Indonesia's on-year inflation in September will likely ease below 6%, from 6.44% in August, but the full-year target of 6% seems 'hard to achieve,' Bank Indonesia deputy governor Hartadi Sarwono said Tuesday. Lower food prices following the end of Muslim festivities will help contain inflation this month, Sarwono told reporters. Bank Indonesia earlier this month told commercial banks to increase their statutory reserves parked with the central bank starting November in a bid to help stem inflation without having to resort of interest rate increases.
2010/09/14 13:30*DJ French Aug CPI Forecast +0.4% On Month; +1.6% On Year
2010/09/14 13:30*DJ French Aug CPI +0.2% On Month; +1.4% On Year
2010/09/14 13:26*DJ Japan DPJ Ozawa: Fiscal Discipline Important
2010/09/14 12:32*DJ Japan Jul Revised Inventories -0.5% M/M Vs -0.5% Prelim
2010/09/14 12:32*DJ Japan Jul Factory Operating Ratio +1.4% M/M From Jun
2010/09/14 12:32DJ Road King Now Seeks To Price Dollar Bond To Yield Around 9.5%-9.625% - Source
SINGAPORE -Road King Infrastructure Ltd. (1098.HK) Tuesday tightened its price guidance for the planned US$300 million of U.S. dollar-denominated bonds, a person familiar with the situation said. The five-year note, callable in three years, is expected to be priced later Tuesday, the person said. The person said that the company has tightened its guidance and is looking to price the bond to yield between 9.5%-9.625%. This compares with yield guidance of around 9.625% Monday. The bond will be issued via Road King Infrastructure Finance Ltd. and its proceeds are expected to be used for buying back bonds due in 2011 and 2012, and also for debt refinancing and project development. Road King is an investment holding company with units engaged in the development, operation and management of toll roads through infrastructure joint ventures, and operations of property development businesses in China. DBS Bank and J.P. Morgan are the joint lead managers and book runners for the issue.
2010/09/14 12:32*DJ Dollar Index Falls To 1-Month Low Below 81.760
2010/09/14 12:32*DJ Japan Jul Revised Shipments -0.1% M/M Vs -0.1% Prelim
2010/09/14 12:30*DJ Japan Jul Revised Indus Output -0.2% M/M Vs +0.3% Prelim
2010/09/14 12:15=DJ MONEY TALKS: Basel III's Light Touch Has Its Risks
2010/09/14 12:00=DJ PBOC WATCH:1-Yr Bills Yield's Flat Lowers Interest Rate Hike Expectation
2010/09/14 11:50DJ Hungary PM: Committed To 2011 Budget Deficit Below 3% Of GDP
BUDAPEST -The Hungarian government is committed to a budget deficit of below 3% of gross domestic product in 2011, Hungarian Prime Minister Viktor Orban said in a speech in parliament Monday. 'This year we can only cut our coat 3.8% of GDP longer than our cloth, and I'm not suggesting cutting our coat next year by more than 3% of GDP longer, either,' Orban said. Economy Minister Gyorgy Matolcsy said the government committed itself to a budget deficit target of below 3% of GDP in 2011 last week, but market participants have been eying confirmation from the prime minister. The government already said it will deliver a budget deficit of 3.8% of GDP this year. Government website: www.fidesz.hu
2010/09/14 11:34*DJ Road King Now Seeks To Price US Dollar Bond To Yield Around 9.5%-9.625% - Source
2010/09/14 11:30*DJ Bank Indonesia Official: Seems "Hard To Achieve" 6% Inflation Target For 2010
2010/09/14 11:26*DJ Bank Indonesia Official: Sept On-Year Inflation Likely Below 6%
2010/09/14 11:16*DJ Fitch Affirms Toyota Motor's Long-Term IDRs; Off Watch Negative; Outlook Stable
2010/09/14 11:09*DJ Dollar Hits CHF1.0059 On EBS; Lowest Since Dec 4, 2009
2010/09/14 10:53DJ Japan Finance Minister: Won't Let DPJ Election Affect FX Policy
TOKYO -Japan's finance minister said Tuesday the government will keep its policy of intervening in foreign exchange markets if necessary to curb the yen's rise, regardless of who wins an election later in the day to choose the leader of the ruling party. 'Regardless of the presidential election, there will not be any political vacuum, and in accordance with our already-established policy we will take decisive steps including intervention when necessary,' Yoshihiko Noda said at a news conference. Noda also said that the government would not tolerate quick, sharp rises or a prolonged upward trend in the yen that could destabilize the nation's economy.
2010/09/14 10:39DJ Japan Economy Minister: Need To Work Closer With BOJ On Yen
TOKYO -Japan's economy minister expressed fresh discomfort Tuesday about the surging yen, which earlier renewed a 15-year high against the dollar.'Even though we have been saying that we would take decisive action if necessary, the yen is still rising. That means we will need to work harder with the Bank of Japan' to fight the strength of the local currency, said Satoshi Arai, minister of state for economic and fiscal policy, at a regular press conference.As of 0201 GMT, the dollar was trading at Y83.37.
2010/09/14 10:14=DJ FED WATCH: SF Fed Ponders The New Uncertaitines Of The US Labor Force
2010/09/14 10:09*DJ Japan Noda: Won't Let DPJ Presidential Race Affect FX Policy
2010/09/14 10:08*DJ Japan Fin Min Noda: To Take Decisive Steps Including FX Intervention If Needed
2010/09/14 09:59*DJ Dollar At IDR8,955 Vs IDR9,015 Late Wednesday, Last Trading Session
2010/09/14 09:50*DJ Japan Econ Min Arai: Need Closer Work With BOJ Vs Yen Strength
2010/09/14 09:05=DJ White House Renominates Peter Diamond To Fed Board Of Governors
President Barack Obama on Monday nominated Massachusetts Institute of Technology economist Peter Diamond to the Federal Reserve board, according to a White House press release.Diamond, an expert on social security, pensions and taxation, was previously nominated for the board but has come under scrutiny from Republicans who say he isn't adequately qualified.He is being nominated to fill the unexpired term of Frederic Mishkin.The White House also nominated Jeffrey Alan Goldstein, of New York, to be an under secretary of the Treasury.
2010/09/14 08:53*DJ Dollar Hits Y83.33 On EBS; Lowest Since May 31, 1995
2010/09/14 08:34=DJ Obama Proposes Doubling Offshore Oil Inspection Fees
2010/09/14 08:06*DJ Nikkei Stock Average Opens Down 0.02% At 9319.50
2010/09/14 08:04*DJ Nikkei Stock Average In Positive Territory
2010/09/14 08:02*DJ Lead December JGB Futures Open Flat At 141.28
2010/09/14 07:50*DJ White House Renominates Peter Diamond To Fed Board Of Governors
2010/09/14 07:47*DJ Lead Nikkei Futures Open Up 20 Points At 9275 On SGX
2010/09/14 07:35DJ UK Consumer Confidence Strengthened In August - Nationwide Building Society
LONDON -U.K. consumers became less pessimistic about the outlook for the economy, the jobs market and their future incomes during August, according to a monthly survey conducted by the Nationwide Building Society. The lender's overall measure of consumer confidence rose to 61 from 56 in July following three straight months of decline. The recovery in confidence will come as an encouragement to the government, which announced a series of austerity measures in its June 22 budget. Opposition politicians and some economists have warned that those spending cuts and tax hikes could push the U.K. back into recession if consumers curtailed their expenditures. However, confidence remains weak, and the Nationwide measure remains well below its long-term average of 83. Nationwide said the rebound may not be sustained. 'Downward pressure is likely to be placed on confidence in the shape of speculation over public spending cuts, a stuttering housing market and a difficult job market,' said Mark Saddleton, Nationwide's head of economic and market analysis. Nationwide found that 26% of those surveyed expected the economic situation to be better in six months' time than now, up from 23% in July, while 26% expect it to be worse, down from from 28%. However, consumers were less unambiguously upbeat about the outlook for the labor market, with 23% expecting there to be many jobs available in six months' time, down from 24% in July, while 54% expected there to be few jobs available, down from 57%. The Nationwide survey found the proportion of consumers who expect their incomes to be lower in six months fell to 15% from 21% in July, but the proportion who expected their incomes to be higher also dropped, to 12% from 14%. Consumers did become more willing to make a major purchase--such as a home or a car--with 30% judging that now is a good time to buy, up from 25% in July. TNS-RI questioned 1,008 people on Nationwide's behalf between July 19 and Aug. 22.
2010/09/14 07:35DJ DATA SNAP: UK August House Price Balance Slumps To -32 Vs July -8
2010/09/14 07:33DJ Greece To Receive 2nd EUR9B Bailout Tranche By Tuesday
2010/09/14 07:03*DJ UK RICS House Price Balance Was Forecast At -13 In Aug
2010/09/14 07:01*DJ UK RICS House Price Balance -32 In Aug Vs -8 In Jul
2010/09/14 06:49*DJ NZ Dollar Falls After July Retail Sales Data, Last US$0.7303 Vs US$0.7325 Pre Data
2010/09/14 06:45*DJ NZ Jul Adj Retail Sales Ex-Autos -0.1% On Month; Mkt +0.1%
2010/09/14 06:45*DJ NZ Jul Adj Retail Sales -0.4% On Month; Consensus -0.1%
2010/09/14 06:07DJ Microsoft Plans Debt Sale To Fund Dividends, Buybacks -Bloomberg
Microsoft Corp. is planning to sell some of its debt in order to pay dividends to shareholders and finance the software giant's buyback of its own stock, Bloomberg Television reports Monday, citing people familiar with the matter.Shares of the Redmond, Wash., company were up 5.3%, or $1.26, to $25.11 at the close of trading Monday on the New York Stock Exchange.The sources didn't specify an amount of the potential sales but did say Microsoft would seek to maintain its debt rating at current levels with any transaction. Analysts contacted by Bloomberg estimated the range of sales at between $5 billion to $10 billion.Website: www.bloomberg.com
2010/09/14 06:06=DJ US Stocks Post Biggest Gain In A Week, Led By Financials-2-
2010/09/14 06:01=DJ Non-Financial Firms Win Exemption In Draft EU Derivatives Rules
2010/09/14 05:32=DJ WORLD FOREX: Euro Posts Biggest 1-Day Gain Vs Dollar In 2 Mos
2010/09/14 05:18=DJ US Small-Cap Stocks Surge Higher, Tech Fuels Rally-2-
2010/09/14 05:13*DJ Obama Seeks Changes To FY '11 Budget To Strengthen Oil Oversight
2010/09/14 05:11DJ Treasurys Rally As Worries About Economy Persist
2010/09/14 05:10=DJ US Small-Cap Stocks Surge Higher, Tech Fuels Rally
2010/09/14 05:05=DJ US Stocks Post Biggest Gain In A Week, Led By Financials
2010/09/14 04:05*DJ Nasdaq Closes Up 43 (1.9%) At 2286; Tech, Financials Climb
2010/09/14 04:04*DJ DJIA Closes Up 82 (0.8%) At 10544; Microsoft, JPMorgan Rise
2010/09/14 03:57DJ PRECIOUS METALS: NY Gold Manages Small Gain Despite Headwinds
2010/09/14 03:55*DJ Microsoft Plans Debt Sale To Fund Dividends, Buybacks -Bloomberg
2010/09/14 03:34=DJ Bank Of America-Merrill Revises Euro Forecast Higher Vs Dollar
2010/09/14 03:25DJ US Government Posts $90.53 Bln Total Budget Deficit In August
WASHINGTON -The U.S. government posted a smaller budget deficit during August than in the same month a year ago, but the shortfall kept nearing a record as the fiscal year's end approached.The government ran a deficit of $90.53 billion last month compared with a deficit of $103.56 billion in August 2009, the Treasury Department said Monday.Revenue has been rising this fiscal year as the economy recovers from a deep recession.Still, the shortfall last month was the 23rd monthly deficit in a row, a record.Fiscal year to date, the government was $1.260 trillion in the red.The deficit is projected by the Obama administration to reach $1.47 trillion in fiscal year 2010, which ends Sept. 30. That would break the old record, set in fiscal 2009, of $1.42 trillion.The recession, wars in Iraq and Afghanistan, and the Wall Street financial crisis helped push the budget numbers to epic proportions. The U.S. hasn't had a monthly surplus since September 2008.Deficit spending has driven the country deeper into debt. It has become a campaign issue ahead of November's congressional elections, complicating President Barack Obama's efforts to spur a weak economic recovery as his Democrats struggle to prevent big losses to Republicans. Last week, Obama unveiled a series of pro-business proposals, including a mix of tax cuts and injections to rebuild outdated infrastructure across the U.S. The package is expected to face resistance in Congress.Economists surveyed by had expected a $95.0 billion budget shortfall in August.The government usually runs a deficit for the 11th month of the fiscal year, and has done so in each of the last 57 Augusts, according to Treasury. There are no major tax due dates during the month.The monthly Treasury statement Monday showed U.S. government revenue in August totaled $164.00 billion, compared with $145.53 billion in August 2009.Spending totaled $254.52 billion. August 2009 spending amounted to $249.08 billion.Year-to-date revenue was $1.92 trillion, compared with $1.89 trillion in the first 11 months of fiscal 2009. Spending so far in this fiscal year is $3.18 trillion, versus $3.26 trillion in the prior period.
2010/09/14 03:22DJ NY Fed To Buy $27 Bln In Treasurys Between Mid-Sep And Mid-Oct
NEW YORK -The Federal Reserve Bank of New York announced Monday that it would buy $27 billion in Treasurys in nine separate operations.The purchases come as the Fed reinvests proceeds from its mortgage holdings into government bonds, as part of a recent decision to keep steady its over $2 trillion portfolio size.The bank said it would buy Treasurys maturing between:-Sept. 30, 2014 to Aug. 31, 2016 On Sept. 15-March 15, 2012 to Feb. 28, 2013 On Sept. 16-Sept. 30, 2016 to Aug. 15, 2020 On Sept. 20-March 15, 2013 to Aug. 31, 2014 On Sept. 22-Sept. 30, 2014 to Aug. 31, 2016 On Sept. 24-Jan. 15, 2011 to Feb. 15, 2040 On Sept. 28-Feb. 15, 2021 to Aug. 15, 2040 On Sept. 30-Sept. 30, 2016 to Aug. 15, 2020 On Oct. 5-March 15, 2013 to Aug. 31, 2014 On Oct. 6
2010/09/14 02:41*DJ OIL FUTURES: Nymex Crude Settles 74c Higher At $77.19/Bbl
2010/09/14 02:33*DJ OIL FUTURES: Nymex Crude Closes 72c Higher At $77.17/Bbl
2010/09/14 02:03*DJ NY Fed To Buy $27 Billion In Treasurys Between Mid-Sept. To Mid-Oct.
2010/09/14 02:02*DJ US Government Deficit FY2010 To Date $1.260 Tln
2010/09/14 02:02*DJ US Government Deficit In August Is 23rd Straight Monthly Gap
2010/09/14 02:01*DJ US Government Posts $90.53 Bln Total Budget Deficit In August
2010/09/14 00:55DJ US House Chamber Areas Evacuated; Powdery Substance On Floor-CNN
Areas around the U.S. House of Representatives chamber were evacuated Monday due to a powdery substance found on the floor, CNN reported. The areas include the third floor where the visitors' galleries and the House press galleries are located. The House floor is closed Monday and the House isn't scheduled to be in session until 2 p.m. EDT Tuesday.Full story at www.cnn.com
2010/09/14 00:38DJ Bove: Big US Banks Already Meet Basel Ratios - Bloomberg
Nearly all big U.S. banks meet capital and liquidity ratios set out in new Basel rules, Rochdale Securities' Richard Bove said Monday in an interview on Bloomberg Television. Sixty-one of 62 U.S. banks with more than $10 billion in assets already meet the requirement, he said. 'We've established rules that all of the top American banks already reach,' Bove said, Bloomberg News reported on its website. 'There are definitional issues which may cause a problem here or there, but just taking the gross numbers produced by these banks, 61 of the top 62 in the United States already meet the 2019 standards.' Full story at: www.bloomberg.com/news/20109-13/top-u-s-banks-already-meet-basel-capital-standards-bove-says.html
2010/09/14 00:29*DJ US House Chamber Areas Evacuated; Powdery Substance On Floor-CNN
2010/09/14 00:24*DJ EU Won't Impose Ownership Limits On Clearing Houses
2010/09/14 00:23*DJ Non-Financial Firms Win Exemption In Draft EU Derivatives Rules
2010/09/14 00:23*DJ EU To Require Clearing For Derivatives Trading By Financial Firms
