2010/09/22 18:02=DJ BOE Minutes: Some See Increased Likelihood Of Further Stimulus
LONDON -Several Bank of England policymakers saw a higher probability in September that they would have to add further stimulus to keep the U.K. economy growing. Minutes of the BOE's Monetary Policy Committee meeting, released Wednesday, showed that members voted 8-1 to leave the key interest rate at 0.5% and quantitative easing bond purchases at GBP200 billion, with Andrew Sentance once again the only standout, voting for a 0.25-percentage-point rate rise. But far from Sentance's views gaining traction, the minutes indicated a dovish shift in the committee's views. That opens up the possibility that a three-way split could emerge, with different MPC members voting simultaneously for higher rates, more bond buying and unchanged policy. While the majority of officials thought it appropriate to keep policy unchanged, 'for some of those members, the probability that further action would become necessary to stimulate the economy and keep inflation on track to hit the target in the medium term had increased,' the minutes said. Those 'members thought that recent developments indicated that the headwinds to a recovery in private-sector demand in the United Kingdom and overseas were somewhat stronger than previously thought, and that the downside risks to activity had increased.' The minutes highlight the growing divergence in global economic conditions, with some central banks rapidly tightening policy, while others contemplate extra stimulus. The U.S. Federal Reserve said following its meeting Tuesday that it stood ready to provide additional stimulus if necessary to support the recovery, in a statement that was widely seen as a sign that Chairman Ben Bernanke is building consensus toward restarting bond purchases.
2010/09/22 17:53*DJ Portuguese October 2014 Bond Bid-To-Cover Ratio 3.5
2010/09/22 17:50*DJ Portuguese October 2014 Bond Average Yield Set At 4.695%
2010/09/22 17:48*DJ Portugal Sells EUR450M October 2014 Bond
2010/09/22 17:48*DJ 10Y Portuguese/German Yield Spread Tightens After Auction
2010/09/22 17:35=DJ DATA SNAP: Malaysia August CPI +2.1% On Year; +2.0% Expected
2010/09/22 17:29=DJ DATA SNAP: Euro-Zone Industrial Orders Slump In July
2010/09/22 17:27DJ Ireland Sovereign CDS Hit New Record High
DJ Ireland Sovereign CDS Hit New Record High LONDON -The cost of insuring Irish sovereign bonds against default using credit default swaps hit a fresh record high Wednesday. Ireland's five-year sovereign CDS rose to 467 basis points, a 33 basis-point increase from Tuesday's closing level, figures from data provider Markit showed. Ireland sold the maximum EUR1.5 billion of government bonds Tuesday, but paid sharply higher yields than previously, reflecting political and economic uncertainty.
2010/09/22 17:26=DJ Forex Focus: Sterling Support Erodes Away
2010/09/22 17:20DJ UK FSA Poised To Set Tougher Capital Rules - FT
LONDON -Large U.K. banks are likely to be forced to hold more capital than required under rules outlined this month by the Basel Committee on Banking Supervision, the head of the country's financial regulator tells the Financial Times Wednesday. 'We want to preserve the freedom to go beyond the absolute minimums, in particular in relation to our approach to systemically important banks,' Adair Turner, chairman of the Financial Services Authority, said in an interview with the newspaper, adding that he also would push forward with plans for U.K. liquidity requirements. Lord Turner, speaking before his annual Mansion House speech in London Tuesday night, called the new Basel III rules 'a major step forward' but added: 'If you were starting absolutely anew you might want higher capital requirements for banks but we have to start where we are.' U.K. banks 'are in a better shape' than many around the world, he said, partly because the FSA had used stress tests to require them to hold core tier one capital equivalent to 8%. The FSA chairman would not be drawn on how much extra capital banks would need. But senior bankers said they had received indications that the U.K. core tier-one threshold, at least for bigger banks, would be set at 10%, the newspaper reports. Original article: http://www.ft.com/cms/s/0/2b11a788-c5b5-11df-ab480144feab49a.html -London bureau, ; +44 (0)20 78 42 9330; generaldesklondon@dowjones.com
2010/09/22 17:10*DJ Euro Rises To Fresh 4-Month High Above $1.3334 - EBS
2010/09/22 17:10*DJ BOJ Expects Curr Acct Balance To Fall Y10B Fri Vs Y18.19T Wed
2010/09/22 17:04*DJ Euro-Zone Jun Orders Revised To +2.4% MM; +22.7% YY
2010/09/22 17:03*DJ Euro-Zone Jul Indus Orders MM Fall Sharpest Since Dec 2008
2010/09/22 17:02*DJ Euro-Zone Jul Indus Orders -2.4% MM; +11.2% YY
2010/09/22 17:01*DJ Euro-Zone Indus Orders Were Forecast -1.6% MM; +16.3% YY
2010/09/22 17:01*DJ Euro-Zone Jun Orders Revised To +2.4% MM; +22.7% YY
2010/09/22 17:00*DJ Euro-Zone Jul Indus Orders -2.4% MM; +11.2% YY
2010/09/22 16:58*DJ Ireland 5-Yr Sovereign CDS Rise 33 Bps To 467 Bps - Markit
2010/09/22 16:56*DJ Ireland Sovereign CDS Hit New Record High - Markit
2010/09/22 16:55*DJ Moody's: Outlook For French Banks Changed To Stable From Negative
2010/09/22 16:40*DJ Gilts Steady After BOE Minutes
2010/09/22 16:39*DJ Sterling Slips After BOE September Minutes
2010/09/22 16:36DJ Hongkong Land Conducting Roadshows For US Dollar Bond - Sources
SINGAPORE -Hongkong Land Holdings Ltd. (H78.SG) is conducting a three-day roadshow for a U.S. dollar bond, people familiar with the situation said Wednesday. The roadshows began in Hong Kong Tuesday, continued in Singapore Wednesday and will end in London Friday, one person said. 'The response from investors has been very positive,' the person said. The size and tenor of the offering is yet to be finalized. HSBC, Standard Chartered Bank and UBS are advising on the deal.
2010/09/22 16:35*DJ BOE: MPC Unanimous On Keeping Bond Buys At GBP200 Bln
2010/09/22 16:35*DJ BOE: Fall In Global Market Interest Rates May Boost Activity
2010/09/22 16:30*DJ BOE Sep Minutes: MPC Voted 8-1 For BOE Rate Action
2010/09/22 16:27*DJ Magnitude 5.9 Earthquake Strikes Coast Of Peru - USGS
2010/09/22 16:26=DJ PRECIOUS METALS: Gold Hits New Record High In Asia; $1,300 Next
2010/09/22 16:08DJ Tokyo Shares Fall As Yen Firms Following U.S. FOMC Meeting -2-
2010/09/22 16:05DJ Spot Gold Surges To New Record High, Closes In On $1,300/Oz
LONDON -Spot gold has climbed to a new record high in Europe Wednesday, closing in on $1,300 a troy ounce as the yellow metal continues its overnight rally on a weaker U.S. dollar. The currency took a tumble late Tuesday after the U.S. Federal Reserve announced it is 'prepared to provide additional accommodation if needed to support the economic recovery.' Following a push higher in U.S. and Asian trading hours, spot gold rose to a new all-time high of $1,293.15/oz at 0651 GMT. Meanwhile the EUR/USD was at $1.3328, up 0.6% on the day. Spot gold had slipped back marginally and by 0725 GMT traded at $1,289.95/oz, up 0.4% on the day. Barclays Capital technical analysts warned in a daily note that prices around $1,300/oz would 'be a natural area for the market to take profits.' 'But overall, the new highs are holding,' they said. Spot gold prices are up 3.9% on a week ago and 9.5% on the start of August.
2010/09/22 15:09DJ Tokyo Shares Fall As Yen Firms Following U.S. FOMC Meeting
2010/09/22 15:08DJ Forex Options: Dollar/Yen Options Stable; Intervention Expected
TOKYO -Dollar/yen options remained unchanged in Tokyo Wednesday as investors expected the Japanese authorities to wade into the currency market if the dollar drops further, having fallen below the key Y85.00 level during the morning.Benchmark one-month at-the-money dollar/yen volatilities stayed at 10.50%/11.20% in Tokyo Wednesday, unchanged from New York Tuesday.An options dealer at a major Japanese bank said benchmark volatilities will likely stay around current levels unless the exchange rate falls below Y84.50, the level several dealers say would raise the chances of the intervention in the market.The dealer said that if the dollar/yen rate does break that level, volatilities may rise to 11.00%.The dealer said one player bought one-week dollar-call/yen-put option contracts at a strike price of Y85.00 with implied volatilities of 10.55% for about $100 million.Such contracts benefit the holder if the underlying exchange rate stays above the strike price at the contract's expiry. Thus the deal indicates the player expects the exchange rate to stay above Y85.00 in a week.
2010/09/22 15:03=DJ WORLD FOREX: Japan Holds Off As Yen Resumes Upward Drift -3-
2010/09/22 15:02*DJ Stoxx Europe 600 Index Up 0.1% After The Open
2010/09/22 15:01*DJ FTSE 100 Up 0.2% After The Open
2010/09/22 14:45=DJ WORLD FOREX: Japan Holds Off As Yen Resumes Upward Drift -2-
2010/09/22 14:37=DJ WORLD FOREX: Japan Holds Off As Yen Resumes Upward Drift
2010/09/22 14:30=DJ MONEY TALKS: Fed Joins Other Central Banks In No-Win Currency Game
2010/09/22 14:30*DJ Euro Rises Above Y113.00 On EBS; Highest Since Aug 10
2010/09/22 14:09*DJ Gold Hits New Records; Spot $1,291.40/Oz, Dec Comex $1,293.50/Oz
2010/09/22 14:02*DJ Nikkei Stock Average Closes Down 0.4% At 9566.32
2010/09/22 13:55DJ BOJ Miyao: Will Not Rule Out Any Policy Options
TOKUSHIMA, Japan -Bank of Japan policy board member Ryuzo Miyao said Wednesday that the central bank won't rule out any policy options in considering what it should do next to prop up the country's economy.'We will take policy options in a timely and appropriate manner' as downside risks to Japan's economy are increasing due to the slowdown of the U.S. economy, Miyao told reporters after meeting business leaders in Tokushima, southern Japan.'We are going to consider what kind of policy options we can take, while carefully assessing their effects and side-effects,' he said.
2010/09/22 13:35=DJ FED WATCH: Renewed Asset Purchases A Fraught Endeavor For Fed
2010/09/22 13:32DJ Basel Committee Chairman: Reforms Will Reduce Procyclicality
SINGAPORE -Basel Committee on Banking Supervision Chairman Nout Wellink said Wednesday that the committee's proposed banking system reforms will reduce the procyclical nature of the global banking system and make it more resilient.Speaking at a conference in Singapore, Wellink said the banking system has stabilized since the height of the financial crisis and is 'on the road to recovery.'He said the proposed Basel III reforms are demanding but will make the banking system more resilient to stress and provide a much safer banking system.'These are minimum requirements. We have said that countries should move faster if their banking systems are profitable and able to do so without having to restrict credit,' Wellink said.'Banks should not be permitted to increase their distributions if they are still below the ultimate target but feel they can take their time to get there,' he said.
2010/09/22 12:47*DJ Malaysia Central Bank Buying Dollars At MYR3.0910 - Dealers
2010/09/22 12:11*DJ Basel Committee Chairman: Proposed Norms Must Be Effectively Implemented, Enforced
2010/09/22 12:10*DJ Gold At New Records: Spot At $1,290.80/oz, Dec Comex At $1,292.50/oz
2010/09/22 12:07*DJ Basel Committee Chairman: Proposed Norms Provide Much Safer Banking System
2010/09/22 12:06*DJ Basel Committee Chairman: Banking System Has Stabilized
2010/09/22 12:01*DJ Dollar Now At IDR8,955 Vs IDR8,965 Late Tuesday
2010/09/22 11:24DJ BOJ Miyao: To Take Appropriate Action In Timely Manner If Needed
DJ BOJ Miyao: To Take Appropriate Action In Timely Manner If Needed TOKUSHIMA, Japan -A Bank of Japan policy board member indicated Wednesday that the central bank will ease monetary policy further if downside risks to the country's economy materialize, and concerns intensify about the outlook for the U.S. economy. 'As the uncertainty over the outlook--mainly the U.S. economy--grow, we cannot let our guard down against downside risks to our economy,' Ryuzo Miyao told business leaders in Tokushima, southern Japan. 'While keeping an eye on (Japan's) economic and price developments more closely, we will take policy actions in a timely and appropriate manner if necessary,' said Miyao, who joined the policy board in March. An expert on microeconomics and monetary policy, Miyao received his PhD from Harvard University and was formerly a professor of economics at Kobe University. Miyao is slated to hold a press conference for 30 minutes from 0430 GMT, with the market likely focusing on any sign of further BOJ monetary easing in the near term.
2010/09/22 11:05DJ Sinochem Appoints Banks For Potash Bid: Sources - FT
hem International Corp. (600500.SH) has appointed Deutsche Bank AG and Citigroup Inc. to help it evaluate its moves to disrupt BHP Billiton Ltd.'s bid for Potash Corp. of Saskatchewan , the Financial Times reported Tuesday on its website, citing unnamed people familiar with the matter.A Chinese bank--possibly the Industrial and Commercial Bank of China Ltd. --was also involved, the report said, citing the people.The people said the state-owned chemicals group hadn't yet decided whether to proceed, the report said.It said Deutsche Bank and Citi declined to comment, and ICBC couldn't be reached.Full story:http://www.ft.com/cms/s/0/88de240a-c5af-11df-ab480144feab49a.html
2010/09/22 10:38*DJ Euro Hits Y112.99 On EBS; Highest Since Aug 10
2010/09/22 10:23DJ Japan Parliament Brings Forward Extra Session To Oct 1 -Kyodo
TOKYO -The Japanese parliament will convene an extraordinary session Oct. 1 rather than the initially envisaged Oct. 6, Kyodo News reported Wednesday citing the ruling Democratic Party of Japan's Diet affairs chief. Yoshio Hachiro told a press conference in the Diet building that the schedule has been decided. Prime Minister Naoto Kan is considering skipping the Asia-Europe Meeting summit slated for Oct. 4-5 with a view to the extra Diet session being held sooner than planned in early October, a person close to the premier said earlier in the day.
2010/09/22 10:18*DJ BOJ Miyao: Risk Increasing That US Econ Will Grow At Slow Pace
2010/09/22 10:17*DJ BOJ Miyao: Watching Impact Of Yen Rise On Real Economy
2010/09/22 10:16*DJ BOJ Miyao: To Take Appropriate Action In Timely Manner If Needed
2010/09/22 10:10DJ BOJ Shirakawa: Forex Intervention Decision Was Appropriate -Report
TOKYO -Bank of Japan Gov. Masaaki Shirakawa said that the government's intervention in the currency markets was the right course of action given the country's economic conditions, according to an interview published Wednesday in the Yomiuri Shimbun.'Based on economic conditions, it was the appropriate decision,' the report quoted Shirakawa as saying. 'I support the government's stance.'' will continue to supply ample liquidity , including funds from currency intervention. This will not change,' he added.Last week, the Japanese government surprised the markets by launching a massive yen-selling intervention to stop a steady rise in the currency that threatened Japan's export-driven economy.The central bank took the unusual step of allowing the extra money produced through the Y2 trillion intervention to remain in the money markets. Typically the central bank will undertake money market operations to drain such extra funds.-Tokyo Bureau, ; +81-3-6269-2770
2010/09/22 09:50DJ UK Deputy PM To Urge Other Governments To Stick To Aid Vows
LONDON -U.K. Deputy Prime Minister Nick Clegg is expected to urge other governments Wednesday to match the U.K. in lifting their aid budgets despite the recession, saying their commitments must hold in bad times as well as good. In his speech to the United Nations Millennium Development Goals summit in New York, Clegg will confirm the government's intention to lift its aid budget to 0.7% of gross national income from 2013. 'Some critics have questioned that decision, asking why, at a time when people at home are making sacrifices in their pay and their pensions, we are increasing aid for people in other countries?' Clegg will say, according to excerpts of the speech provided by his office. 'But we make this choice because we recognize that the promises the U.K. has made hold in the bad times as well as the good--that they are even more important now than they were then.' Clegg will say that meeting the Millennium Development Goals isn't just a case of altruism, and that they are crucial to the 'lasting safety and future prosperity' of the U.K. public. The U.K. is one of the few countries considered by aid groups to be on track to meet the 0.7% of GNI aid budget goal. Clegg is expected to urge other countries to lift their efforts. 'Today I call on others to show equal resolve. The Millennium Development Goals must be a priority for each every nation present in this room,' he is due to say. Clegg is leader of the junior Liberal Democrats party in the coalition government. He is also expected to announce that the U.K. government will increase spending to combat malaria in a bid to halve the number of malaria-caused deaths in at least 10 African countries by 2015. The government will commit to raising funding for combating malaria to GBP500 million a year by 2014 from the current GBP150 million. Treasury chief George Osborne had committed to increasing malaria spending in 2007, when his Conservative party was an opposition party. A spokesman for the Department for International Development said the increased funds would come out of the existing departmental budget.
2010/09/22 09:38*DJ Dollar Rises Back Above Y85.00 On EBS
2010/09/22 09:33DJ Chinese Premier Urges Japan To Release Chinese Skipper Immediately, Unconditionally - Xinhua
Chinese Premier Wen Jiabao on Tuesday urged Japan to release the detained Chinese skipper 'immediately and unconditionally,' the state-run Xinhua News Agency reported Wednesday. Otherwise, China will take further measures, Wen said when meeting with some Chinese nationals and Chinese Americans in the U.S. Japan detained the Chinese captain for ramming his trawler against Japanese patrol boats near disputed islands in the East China Sea on Sept. 7.
2010/09/22 09:23DJ Japan PM Kan May Skip ASEM Summit For Extra Diet Session -Kyodo
TOKYO -Prime Minister Naoto Kan is considering skipping a summit of the Asia-Europe Meeting slated for Oct. 4-5, with a view to convening an extraordinary Diet session sooner than planned in early October, Kyodo News reported Wednesday citing a person close to the premier.The eighth biennial summit, hosted reciprocally in Asia and Europe since its launch in 1996, will be held next month in Brussels.
2010/09/22 09:18DJ Japan PM Kan: Ready To Weaken Yen If Necessary - FT
Japan Prime Minister Naoto Kan said his government would intervene in currency markets again and is also prepared to use other economic and monetary policies to weaken its currency if necessary, the Financial Times reported late Tuesday. 'If there is a drastic change , such intervention is unavoidable,' said Kan in an interview with the newspaper, according to a report on the FT website. He said Tokyo was forced to weaken the yen after 15-year highs last week, the report quoted him as saying. Full story: http://www.ft.com/cms/s/0/9a1fa2dc-c5ac-11df-ab480144feab49a.html
2010/09/22 09:10DJ CEO: BHP Would Walk Away If Potash Bids Get Too High -Report
BHP Billiton Ltd. would 'absolutely' walk away from its bid for Potash Corp. of Saskatchewan if a rival were to offer a price beyond which the U.K.-Australian mining giant sees value for its shareholders, its chief executive told a Canadian TV network Tuesday. 'If somebody offers a price at which we cannot demonstrate value for our shareholders, we're probably not going to show, and I think we've stated that upfront. That continues to be the case,' CEO Marius Kloppers said in an interview on Business News Network. 'Absolutely' was Kloppers's response when asked if he would be prepared to walk away from a bid for the fertilizer producer in that situation. Potash has already rejected BHP's $38.6 billion bid as too low, and news reports have suggested that rival bids from China could be forthcoming. Kloppers met Monday with Saskatchewan's Premier Brad Wall, but the provincial leader told he remained unconvinced that a deal with BHP or rival suitors would benefit Saskatchewan. Late Monday, BHP extended the offer period by a month, to Nov. 18, after Canada's competition regulator requested more information about the bid. A deal would require approval by antitrust regulators in Canada and the U.S. Kloppers, in Tuesday's interview, said BHP is now focused on clearing those regulatory hurdles. Link to video of interview: http://www.bnn.ca/News/2010/9/21/Making-the-case-for-Potash-Corp.aspx -; 212-416-2900
2010/09/22 09:08DJ HSBC Chief Executive Threatens To Quit If Not Offered Chairman's Role - FT
HSBC Holdings PLC's chief executive, Michael Geoghegan, has threatened to resign if he isn't given the position of chairman, the Financial Times reported on its website Tuesday, citing two people familiar with the bank's succession planning.Geoghegan reacted badly to a suggestion at a meeting last week that he might be passed over, one of the people said. 'He was told the board was not ready to give him the chairmanship and he was not happy.'People close to Geoghegan said he might well not follow through on his threat to leave, with one saying 'he has a famously hot temper,' the FT reported.Full story: http://www.ft.com/cms/s/0/06a88d22-c5af-11df-ab480144feab49a.html.
2010/09/22 09:06*DJ Nikkei Stock Average In Positive Territory
2010/09/22 08:48*DJ Chinese Premier Urges Japan To Release Chinese Skipper Immediately, Unconditionally - Xinhua
2010/09/22 08:40*DJ Benchmark 10-Yr JGB Yield Falls To 3-Week Low At 1.000%
2010/09/22 08:38*DJ Japan DPJ Diet Affairs Chief: Extra Diet Session To Open Oct 1 -Kyodo
2010/09/22 08:24*DJ US Dollar Last Traded At S$1.3272 Vs S$1.3336 Late Tuesday
2010/09/22 08:14DJ CBI Raises 2010 UK Growth Forecast, Lowers 2011 View
LONDON -The Confederation of British Industry said Wednesday it had raised its forecast for U.K. economic growth this year, but lowered its prediction for 2011 due to the government's efforts to cut spending and shrink the budget deficit. In its latest quarterly economic forecast, the respected business organisation said it expected gross domestic product to grow 1.6% this year and 2.0% in 2011. In June it forecast growth of 1.3% this year and 2.5% next. 'While the outlook for growth in 2010 has been lifted slightly, due to somewhat faster economic activity in the second quarter of the year...The action to get the public finances back onto a sustainable footing will no doubt temper the recovery going into 2011,' Ian McCafferty, CBI Chief Economic Adviser, said in a statement. The U.K.'s coalition government has promised fiscal consolidation of GBP113 billion over the next five years, made up largely of spending cuts, to slash its large budget deficit. The CBI said that although there was a high degree of uncertainty about the economic outlook, a slide back into recession was unlikely. It urged the government to focus on areas that will galvanise growth, like infrastructure and capital investment. The CBI's new predictions vary from those of the U.K.'s Office for Budget Responsibility, the official body charged with making independent assessments of the economy. It forecast in June that GDP would grow 1.2% this year and 2.3% in 2011. But official data released since the OBR's forecast show the U.K. economy grew 1.2% between April and June, the fastest quarterly expansion for nine years and much stronger than many economists were expecting. McCafferty said U.K. consumer spending will be more constrained than previously thought, due to modest wage increases and higher inflation resulting from next January's planned increase in sales tax. 'We do expect exports to grow at a faster rate than imports however, with net trade making a positive contribution to GDP growth during the coming 15 months,' he said. The CBI also changed its forecast for monetary policy. It now expects the Bank of England to start raising interest rates in the spring of 2011, with rates rising to 1.25% by end 2011 year from their current record low of 0.5%. The business group forecast public sector net borrowing would amount to 9.5% of GDP in the 2010-2011 financial year and drop to 7.6% of GDP the following year. In June, the OBR forecast PSNB at 10.1% of GDP in 2010/2011, falling to 7.5% in 2011/2012. Web site: www.cbi.org.uk
2010/09/22 08:12*DJ Malaysia Ringgit At Fresh 13-Year High Of US$3.0920
2010/09/22 08:11*DJ Lead December JGB Futures Open Up At 142.69 Vs 142.38 Tue
2010/09/22 08:03*DJ Nikkei Stock Average Opens Down 0.4% At 9563.20
2010/09/22 07:53*DJ Dollar Falls To 1-Week Low Below Y84.97 On EBS
2010/09/22 07:50*DJ Lead Nikkei Futures Open Down 15 points At 9530 On SGX
2010/09/22 07:26DJ Huawei To Allow Security Checks On Network - FT
Huawei Technologies Co. will give clients what it says is unprecedented access to its secret computer code and allow outside companies to check its network equipment when competing for contracts, the Financial Times reported Tuesday, citing company executives. The Chinese telecommunications equipment maker is advocating transparency in an effort to ease national security concerns about the company in the U.S. and debunk claims of links to the Chinese military. The company will provide access to source code under certain conditions as well as allow information security experts to check its products to certify that they don't include technology enabling spying or making networks vulnerable to attack. Full story at http://www.ft.com/cms/s/0/9d3c796a-c5af-11df-ab480144feab49a.html -; 212-416-2900
2010/09/22 07:05*DJ CBI Lowers 2011 GDP Forecast To 2.0% From 2.5% In June
2010/09/22 07:05*DJ CBI: BoE To Start Raising Rates In Spring, Sees 1.25% End-2011
2010/09/22 07:02*DJ CBI Raises UK 2010 GDP Forecast To +1.6% From +1.3% In June
2010/09/22 06:50*DJ NZ 2Q Services Deficit NZ$318M
2010/09/22 06:49DJ Canada Fin Min:Job Creation, Stimulus Money Flow 'On Track'
OTTAWA -Canadian Finance Minister Jim Flaherty said Tuesday job creation and the flow of stimulus money are "on track."In an interview with CTV News, Flaherty said the government will provide another update on stimulus spending "within the next brief period of time."Flaherty said he has "a lot of confidence" about job creation, which he said has been broad and across most spheres.He said private demand is starting to come back and consumer demand is still "pretty good." Home sales are "a little bit off," but that was probably healthy because of some overheating in the sector, he said."These are all good signs and Canadians should have confidence, particularly when we compare ourselves with the rest of the world," Flaherty said.But he said the recovery is fragile. He said the government's two-year stimulus is working and should be allowed to continue until it ends next March."We're going to have an election next year or whenever [the opposition] decide to defeat us," but a fall election in the midst of stimulus isn't a good idea, Flaherty said.He said he was concerned about Canada's trade deficit but was "encouraged" by machinery and equipment data.
2010/09/22 06:46*DJ NZ 2Q Investment Deficit NZ$2.8B
2010/09/22 06:46*DJ NZ 2Q Goods Surplus NZ$2.35B
2010/09/22 06:45*DJ NZ 2Q Curr Acct Deficit NZ$0.88B; Mkt Deficit NZ$600M
2010/09/22 06:45*DJ NZ 12-Mos To 2Q Cur Acct Deficit NZ$5.6B; Mkt Deficit NZ$5.31B
2010/09/22 06:45*DJ NZ 12-Mos To 2Q Curr Acct 3.0% Of GDP
2010/09/22 06:12DJ EU To Offer IMF Votes In Exchange For Chinese FX Restraint
BRUSSELS --European leaders will dangle a "genuine willingness" to give up votes in the International Monetary Fund and other global power bases if China shows "responsibility" on currency moves, a senior European Union diplomat said Tuesday.An Oct. 6 summit between the European Union and China, following broader meetings of leaders from 46 European and Asian nations including Russia and Australia for the first time, will see EU leaders pressed on rebalancing controls over the global economy.But while ruling out any "wholesale" transfer of voting power in the International Monetary Fund, Europe will "commit to move in that direction" with the diplomat insisting: "Do not underestimate the readiness of the European side to be constructive."The eighth Asia-Europe meeting Oct. 4-5 comes a week before the IMF annual meeting addresses the issue, and a month before leaders from the Group of 20 industrialized and developing nations attempt to settle a rift over lop-sided representation at a summit in South Korea.But the Europeans will argue that "with increased representation, comes increased responsibilities," amid pressure on Beijing to let its exchange rate appreciate.China pledged in June to loosen its grip on its currency, but U.S. Treasury Secretary Timothy Geithner said last week that despite the move, the yuan's value was "essentially" unchanged in the past two years because of "very substantial" intervention by authorities.Since June the yuan has appreciated about 1.6% against the dollar. It gained about 0.7% just last week."All those issues are tied together...on the European side, there is a genuine willingness to move towards re-balancing," said the European diplomat, who requested anonymity.
2010/09/22 05:47=DJ WORLD FOREX:Dollar Stumbles Broadly As Fed Leaves QE Door Open
2010/09/22 05:45DJ Summers Likely To Quit White House After Nov Elections -Bloomberg
awrence Summers, President Barack Obama's chief economic adviser, is likely to leave his post after November's congressional elections, Bloomberg News reports Tuesday, citing three people familiar with the matter.No decisions have yet been made, the sources said. One person familiar with the matter said Obama administration officials are considering a prominent corporate executive to succeed Summers as director of the White House's National Economic Council. Administration aides are also eager to appoint a woman to serve in the post, two people said.Summers, who is 55 years old, and Obama have discussed the adviser's plans, Bloomberg cites one source as saying.White House officials declined to comment directly on Summers's plans. Robert Gibbs, the president's chief spokesman, said it "is not a surprise that there will be people who have worked enormously hard over the past few years to make decisions to go back to doing" what they did before joining the administration.Full story at http://www.bloomberg.com/news/print/20109-21/summers-may-leave-as-head-of-obama-s-national-economic-council-in-november.html-; 212-416-2900
2010/09/22 05:31=DJ US Small-Cap Stocks Slip, As Fed Comments Weigh On Financials-2-
2010/09/22 05:20=DJ Blue Chips Post Fifth-Straight Gain After Fed Statement-2-
2010/09/22 05:17=DJ Blue Chips Post Fifth-Straight Gain After Fed Statement
2010/09/22 04:59DJ Treasurys Rally After Fed Leaves Door Open To More Bond Buying
2010/09/22 04:48=DJ US Small-Cap Stocks Slip, As Fed Comments Weigh On Financials
2010/09/22 04:39DJ PRECIOUS METALS: Gold Hits Record Above $1,290/Oz After FOMC
2010/09/22 04:31DJ OIL FUTURES: Nymex Crude Falls As Economic Worries Weigh
2010/09/22 04:21=DJ Fed Hints At New Steps To Support Growth, But Defers Action
2010/09/22 04:06*DJ Nasdaq Closes Down 6 (0.3%) At 2349; Financials Weigh
2010/09/22 04:04*DJ DJIA Closes Up 8 (0.1%) At 10762; Caterpillar, H-P Lead Rise
2010/09/22 04:01*DJ White House Aide Summers To Leave Job After Midterm Elections -Bloomberg
2010/09/22 03:32=DJ ADB's Kuroda: Yen Was Overvalued Ahead Of Japan's Intervention
2010/09/22 03:15DJ Geithner: Disclosure 'Powerful Tool' To Protect Consumers
2010/09/22 02:50*DJ Dollar Dips Below Y85
2010/09/22 02:47*DJ Dollar Extends Broad Losses; Euro Trades Above $1.3250
2010/09/22 02:45*DJ Treasurys Extend Gains, Rallying Now After FOMC
2010/09/22 02:43*DJ OIL FUTURES: Nymex Crude Settles Down $1.34 At $73.52/Bbl
2010/09/22 02:43*DJ OIL FUTURES: Nymex Crude Falls As Economic Fears Weigh
2010/09/22 02:36*DJ Dollar Dips Below Parity Versus Swiss Franc Post-FOMC
2010/09/22 02:31*DJ Dollar Dips Below Parity Versus Swiss Franc Post-FOMC
2010/09/22 02:30*DJ Euro At One-Month High Vs. Dollar After FOMC Statement
2010/09/22 02:30*DJ 10-Year Treasury Futures Pull Back From 1 1/2-Week Top Post-FOMC
2010/09/22 02:29*DJ Comex Gold Futures Hit Record High After Fed Statement
2010/09/22 02:29*DJ Canada Dollar Gains Ground Following US Fed Announcement
2010/09/22 02:28*DJ 2-Year Treasury Yield Hits Fresh Record Low Of 0.44%
2010/09/22 02:28*DJ Comex Gold Futures Go Positive After FOMC Statement
2010/09/22 02:27*DJ ICE Dollar Index Hits Intraday Low After FOMC Statement
2010/09/22 02:27*DJ Comex Gold Steady After FOMC Statement
2010/09/22 02:26*DJ Euro Extends Gains Above $1.32 Post-FOMC Statement
2010/09/22 02:26*DJ FOMC Repeats Inflation To Remain Subdued For Some Time
2010/09/22 02:25*DJ FOMC Maintains Plan To Prevent Balance Sheet From Shrinking
2010/09/22 02:25*DJ Dollar Surrenders Post-FOMC Gains Vs. Yen; Hits Intraday Low
2010/09/22 02:25*DJ FOMC: Bank Lending Contracting, Though At Lower Rate
2010/09/22 02:23*DJ Treasurys Higher; Trading Volatile After Fed
2010/09/22 02:22*DJ OIL FUTURES: Crude Pares Losses After FOMC Statement
2010/09/22 02:21*DJ Treasury Prices Slip After FOMC Statement
2010/09/22 02:20*DJ FOMC: Voted 8-1 For Fed Funds Rate Action; Hoenig Dissents
2010/09/22 02:20*DJ Dollar Reverses Gains Vs. Euro; Euro Hits Intraday High
2010/09/22 02:19*DJ Dollar Gains On Yen, Euro After FOMC Statement
2010/09/22 02:19*DJ FOMC: Fed Funds To Stay Exceptionally Low For Extended Period
2010/09/22 02:18*DJ FOMC: Pace Of Economic Recovery Seen Modest In Near Term
2010/09/22 02:17*DJ FOMC: Recovery In Output, Employment Has Slowed
2010/09/22 02:17*DJ FOMC: Prepared To Provide Additional Accommodation As Needed
2010/09/22 02:15*DJ Fed Leaves Discount Rate Unch At 0.75%
2010/09/22 02:15*DJ Fed Keeps Fed Funds Range Unchanged At 0.0% To 0.25%
2010/09/22 01:36*DJ ADB's Kuroda: US, Europe, Japan Unlikely To Return To Recession
2010/09/22 01:34*DJ ADB's Kuroda: Yen Was Overvalued Ahead Of Japan's Intervention
2010/09/22 00:51DJ UK OBR: June Budget Will Increase Cost Of Jobless Benefits
LONDON -The Office for Budget Responsibility said Tuesday the U.K. government's austerity measures would increase the cost of paying unemployment benefits by several hundred millions pounds in coming years.In a press release in response to a parliamentary question, the OBR said the austerity measures-
2010/09/22 00:11=DJ Gensler: CFTC To Propose A Series Of Rules For Swaps Oct 1
