Market Rumours

2010/10/28 18:00*DJ UK CBI: Oct Retail Sales Volume +36 Vs +49 In Sep

2010/10/28 18:00*DJ UK CBI: Consensus Oct Retail Sales Volume Was +30

2010/10/28 17:59*DJ ECB Draghi: Italy GDP To Grow Around 1% In 2010 And 2011

2010/10/28 17:56*DJ FSB Draghi: Global Econ Recovery At Risk Due To Forex Policies

2010/10/28 17:43DJ Reliance Power To Sign Financing MOU With Four Chinese Banks
SHANGHAI -India's Reliance Power LTd. (532939.BY) will sign a memorandum of understanding on financing with four Chinese banks Thursday, according to a statement released ahead of a signing ceremony.The four banks are the Export-Import Bank of China, Bank of China Ltd., China Development Bank and Industrial and Commercial Bank of China Ltd. , the statement said.-Jing Yang contributed to this article; ; (8621) 6120 1200; jing.yang@dowjones.com
2010/10/28 17:36*DJ Reliance Power: To Sign $10 Bln Contract With Shanghai Electric

2010/10/28 17:22=DJ DATA SNAP: Euro-Zone Confidence Improves For Fifth Month

2010/10/28 17:19*DJ 3-Month Euribor Rises To 1.045% Vs 1.043% Wednesday

2010/10/28 17:17DJ ICBC To Buy 60% Stake In AXA-Minmetals Insurance JV
BEIJING -Industrial & Commercial Bank of China Ltd. (1398.HK) said Thursday it will buy a 60% stake in AXA-Minmetals Assurance Co., an insurance joint venture between AXA SA and China Minmetals Corp. ICBC said in a statement AXA's stake in the joint venture will fall to 27.5% from 51% as a result of the deal, China Minmetals' stake in the joint venture will decrease to 12.5% from 49% after the transaction. ICBC didn't disclose the value of its stake purchase. The deal will give China's largest bank direct access to the nation's lucrative insurance market, and comes as foreign companies have been finding it harder to do business in China as a result of policies that favor state-owned enterprises. AXA and China Minmetals Corp., a major producer and trader of metals and minerals, established the joint venture in Shanghai in 1999. -Victoria Ruan contributed to this article, ; 8621 6120-1200; victoria.ruan@dowjones.com
2010/10/28 17:06*DJ Euro-Zone Oct Industrial Confidence 0; Sep -2

2010/10/28 17:03*DJ Euro-Zone Oct Business Climate +0.98; Sep +0.76

2010/10/28 17:02*DJ Euro-Zone Oct Economic Sentiment Consensus 103.1

2010/10/28 17:02*DJ Euro-Zone Oct Economic Sentiment 104.1; Sep 103.2

2010/10/28 17:01*DJ Euro-Zone Oct Services Confidence Unchanged At +8

2010/10/28 17:01*DJ Euro-Zone Oct Consumer Confidence Consensus -11

2010/10/28 17:01*DJ Euro-Zone Oct Industrial Confidence Consensus -1

2010/10/28 17:00*DJ Euro-Zone Oct Consumer Confidence Unchanged At -11

2010/10/28 16:56*DJ ICBC Chairman: To Continue Bancassurance Cooperation With Other Insurers

2010/10/28 16:55*DJ ICBC Chairman: Bancassurance Business Cooperation With AXA Not Exclusive Pact

2010/10/28 16:55*DJ ICBC President: To Make Returns On Investment 'Hopefully Next Year'

2010/10/28 16:54*DJ ICBC President: To Complete Stake Buy As Soon As Regulatory OK Given

2010/10/28 16:54=DJ Wal-Mart Mulls Maintaining Massmart's Listing

2010/10/28 16:48*DJ German Labor Office: Average 2011 Jobless Total Around 2.9M

2010/10/28 16:45*DJ German Unadj Jobless Total Could Fall To 2.7M In Oct 2011

2010/10/28 16:40DJ ECB: Demand For Credit From Companies Turned Positive In 3Q
LONDON -Demand for credit from euro-zone businesses increased in the third quarter, the first rise in more than two years, the European Central Bank said Thursday. In its quarterly survey of bank lending, the ECB said the proportion of banks reporting an increased demand for loans exceeded the proportion reporting a smaller demand for loans by seven percentage points. In the second quarter the balance was minus two percentage points, while in the first quarter it was minus 13 percentage points. The revival in demand for credit suggests businesses are becoming more positive about their prospects, having cut borrowing in response to the financial crisis and the recession that followed. 'The improvement in net demand for loans was similar in range for large firms and SMEs (small and medium-sized enterprises),' the ECB said. However, it's not clear that euro-zone banks are in a position to meet that increased demand. The survey found that banks continued to raise their lending standards, making credit less readily available. The proportion of banks reporting a tightening in standards exceeded the proportion reporting a loosening of standards by four percentage points, the ECB said. In the second quarter, the balance was 11 percentage points. The ECB said that for large firms, the balance fell to seven points from 14 in the second quarter, while for SMEs it fell to five points from 12 in the second quarter. 'Looking forward, on balance, euro area banks expect the net tightening of credit standards on loans to enterprises to remain stable in the fourth quarter of 2010,' the ECB said. Website: www.ecb.int
2010/10/28 16:32=DJ DATA SNAP: German Labor Demand High As Jobless Hits 18-Year Low

2010/10/28 16:30*DJ ICBC: AXA-Minmetals JV Stake Buy Subject To Regulatory Approval

2010/10/28 16:27*DJ AXA To Hold 27.5% Stake In JV After ICBC Investment

2010/10/28 16:19*DJ ICBC To Buy 60% Stake In AXA-Minmetals Assurance

2010/10/28 16:15DJ SAFE: Found $7.34 Bln Of FX Irregularities At Some Banks From Feb-Oct
BEIJING -China discovered 197 cases of irregularity in some banks' foreign exchange business involving US$7.34 billion between February and October, the State Administration of Foreign Exchange said Thursday. Such irregularites create opportunities for hot money inflows, which can affect China's balance of international payments, SAFE said in a statement. Hot money inflows also affect the healthy development of China's economy and financial system, it added. The statement said China will strengthen the oversight of the foreign exchange business and aggressively combat hot money inflows. SAFE began an investigation into hot money inflows in February to tackle cross-border capital flows that aren't related to real trade or investment. -Yajun Zhang contributed to this article, ; (86 10) 8400-7712; yajun.zhang@dowjones.com
2010/10/28 16:14*DJ ECB Stark: Euro Zone Needs 20 Years To Cut Debt To 2007 Level

2010/10/28 16:10*DJ ICBC President: To Take Stake In AXA-Minmetals Assurance

2010/10/28 16:02*DJ BOE Posen: UK Economic Recovery Still Weak - Report

2010/10/28 15:59DJ PRECIOUS METALS: Gold Up In Asia As Dollar Pares Gains
SINGAPORE -Gold made up some lost ground in a quiet Asia session Thursday as a slight retreat in the U.S. dollar attracted in some dip buyers. After dropping 1% Wednesday, gold was helped by the euro's bounce from overnight lows to trade back above $1.38. At 0610 GMT spot gold was at $1,326.60 a troy ounce, up $1.60 since Wednesday's New York close, with Tocom October 2011 gold at Y3,490/gram, down Y21. Key trend line support lies at $1,322, Barclays Capital said. 'We continue to look for a resumption of the larger bull trend, particularly as daily momentum oscillators are fast approaching oversold,' it said in a note. Spot silver was at $23.60/oz, up 4 cents, while platinum was at $1,677/oz, up $2. Recent outperformer palladium was at $615/oz, up $1. Standard Bank said platinum group metals are likely to benefit from favorable seasonality into the year-end and beyond, adding that it expects a rise in auto sales starting in December and continuing until at least March: 'This seasonal pattern has prevailed even during the downturn in 2009. We may see some auto manufacturers re-stock ahead of increased production.' Platinum in particular will also benefit from increasing jewellery demand ahead of Christmas and Lunar New Year, it said. On the supply side it tipped $1,850 for platinum and $650 for palladium as minimum prices required to keep marginal mines in production given the current dollar to South African rand exchange rate around ZAR7.03.
2010/10/28 15:58DJ JGBs Rise After BOJ Moves Date Of Next Policy Meeting Forward
At 0600 GMT Change TFX June 3-Mos Euroyen Price: 99.690 +0.005 TSE Dec 10-Yr JGB Futures Price: 143.51 +0.33 10-Yr 0.8% JGB No. 311 Yield: 0.905% .040 TOKYO -Japanese government bonds rose Thursday after the Bank of Japan moved forward its next monetary policy meeting to immediately after the Federal Reserve's Open Market Committee meeting next week, fueling speculation that it may respond to any Fed quantitative easing with further easing steps of its own. Lead December JGB futures marked a near one-week high at 143.54 after the Bank of Japan announced at the conclusion of a regular one-day policy board meeting that it will hold its next such meeting Thursday and Friday next week, instead of Nov. 15-16 as previously planned. The change positions Japan's central bank to respond immediately to any sharp falls in the dollar against the yen that large-scale quantitative easing by the Fed could bring, analysts said. The greenback's weakness against its Japanese counterpart hurts Japan's export-driven economy. The BOJ again expressed concern over the yen's relative strength Thursday, saying that the stronger local currency could push down prices. Such concerns could prompt the central bank to increase the scale of its asset purchases, including that of government bonds, which would support the JGB market, analysts said. Even if the FOMC disappoints, 'that may not be that bearish for JGBs, as in that case a lot of Japanese money that had been betting on the Fed moving just cuts losses and comes back to Japan,' flowing into JGBs, said Christian Carrillo, a senior rates strategist at Societe Generale. The lead December JGB contract is likely to stay above 143.14 even in that case. Meanwhile if the FOMC meets or exceeds market expectations, the contract could rise to 144.28, Carrillo said. Other Cash Bond Yields At 0600 GMT Change 2-Year 0.1% JGB No. 297 Yield: 0.135% Flat 5-Year 0.3% JGB No. 92 Yield: 0.275% .020 20-Year 1.8% JGB No. 122 Yield: 1.800% .010 30-Year 2.0% JGB No. 33 Yield: 1.970% .005***********
2010/10/28 15:57DJ BOJ Shirakawa: May Expand New Asset Buying Funds If Economy Worsens
TOKYO -Bank of Japan Gov. Masaaki Shirakawa repeated Thursday that the central bank may consider expanding its Y5 trillion asset purchasing program if economic conditions deteriorate.'The BOJ will examine effects and side-effects and if we think the effects are larger and if the economic situation changes significantly, the BOJ may expand the fund,' Shirakawa told reporters.
2010/10/28 15:57*DJ German Unadj Jobless Total Was At 3.031M In Sep

2010/10/28 15:57*DJ German Unadj Jobless Rate Was 7.2% In Sep

2010/10/28 15:57*DJ German Oct Unadj Jobless Total At 2.945M

2010/10/28 15:56*DJ Economists Saw German Oct Adj Jobless Rate At 7.4%

2010/10/28 15:56*DJ German Oct Unadj Jobless Rate 7.0%

2010/10/28 15:56*DJ Economists Saw German Oct Seas Adj Jobless At -30,000

2010/10/28 15:56*DJ German Oct Adj Jobless Rate 7.5%

2010/10/28 15:56*DJ German Adj Jobless Rate Was 7.5% In Sep

2010/10/28 15:55*DJ German Oct Seas Adj Jobless -3,000

2010/10/28 15:55*DJ German Seas Adj Jobless Was -37,000 In Sep

2010/10/28 15:55=DJ WORLD FOREX: Dollar Pulls Back Vs Yen, Euro After Two-Day Gain-3-

2010/10/28 15:40*DJ SAFE: Discovered 197 Cases Of FX Irregularity From Feb-Oct

2010/10/28 15:39DJ Tokyo Shares End Down; Resource Stocks' Fall Offsets Earnings
Brad Frischkorn Of TOKYO -Tokyo stocks fell on Thursday as weakness in resource-linked shares such as Inpex offset encouraging earnings reports from heavily-weighted firms such as Canon and Central Japan Railway.The Nikkei Stock Average fell 21.00 points, or 0.2%, to 9366.03 following Wednesday's 0.1% rise. The Topix index of all the Tokyo Stock Exchange First Section issues also fell 3.43 points, or 0.4%, to 814.33, with 27 of 33 Topix subindexes ending in negative territory.Stocks continued the pattern of largely non-committal trading seen earlier in the week, with somewhat subdued total volume and anticipation over monetary policy-setting announcements from the U.S. Federal Open Market Committee , which is slated to meet next week. The Nikkei has fallen in five of the last seven sessions."If the dollar rises further to the Y82-Y83 level, the market mood would change ," said Meiwa Securities senior market analyst Masayoshi Yano, adding that the November 2-3 FOMC meeting will be key to determining the direction of the currency pair.Stocks opened lower, impacted primarily by resource-linked stock declines on overnight falls in oil, gold and other commodity prices. Sumitomo Metal Mining dropped 0.9% to Y1,281 and Inpex fell 1.3% to Y431,000.As corporate earnings reporting season hits full stride, results and forecast announcements resulted in sharp price movements in select shares. Canon rose 3.7% to Y3,755 on heavy volume after reporting solid third quarter earnings and upgrading its full-year net profit forecast.Fanuc, which reported its fiscal first half results during trading hours on Wednesday, added 5.5% to Y11,850, extending its prior day gains on follow-though buying, according to analysts. The Nikkei reported that Fanuc will boost production capacity for small machining centers from 1,600 units a month to 2,500 by the first half of fiscal 2011 to meet robust demand in China and other Asian countries.Central Japan Railway, or "JR Central", also added 3.8% to Y622,000 after announcing solid April-September earnings featuring a rise in net profit by 27% on-year. The company also revised up its full-year earnings outlook.Fujitsu also closed up 3.3% to Y560 on relief that its second quarter results were mostly in-line with expectations. A fund manager at Japanese asset management firm said that the results triggered dip-buying since shares had fallen by double digits from mid-September amid concerns that U.K. government budget cuts would hurt its revenue from IT services.On the other hand, Renesas Electronics closed down 7.7% to Y631 after lowering its revenue estimate to Y1.170 trillion from Y1.190 trillion due to the stronger yen. The firm also announced that it had made early retirement offers to 1,200 workers. A fund manager at a Japanese asset management firm said that the firm's sluggish earnings reinforced concerns about the grim outlook for the semiconductor market.December Nikkei 225 futures closed down 40 points, or 0.4%, to 9370 on the Osaka Securities Exchange. The contract briefly rose to 9420 on the BOJ's announcement that it would leave its super-easy monetary policy unchanged. Investors were also seen briefly reacting positively to the BOJ's decision to bring forward its next policy board meeting to November 4-5--one day after the November FOMC meeting--from November 15-16.
2010/10/28 15:35=DJ WORLD FOREX: Dollar Pulls Back Vs Yen, Euro After Two-Day Gain-2-

2010/10/28 15:29*DJ BOJ Shirakawa: Lack Of FX Flexibility Could Hurt Own Economy

2010/10/28 15:27*DJ BOJ Shirakawa: To Maintain Powerful Monetary Easing Policy

2010/10/28 15:27=DJ DATA SNAP: French September PPI +0.3% On Month; +4.2% On Year

2010/10/28 15:25*DJ BOJ Shirakawa: May Expand New Asset Buying Funds If Econ Worsens

2010/10/28 15:24*DJ BOJ Shirakawa: Expect Econ Growth To Strengthen In FY 2011

2010/10/28 15:22=DJ WORLD FOREX: Dollar Pulls Back Vs Yen, Euro After Two-Day Gain

2010/10/28 15:19*DJ SAFE: To Aggressively Combat Hot Money Inflows

2010/10/28 15:17*DJ SAFE: To Strengthen Oversight Of Banks' FX Services

2010/10/28 15:16*DJ SAFE: Hot Money Inflows Affect Healthy Economic, Financial Development

2010/10/28 15:15*DJ SAFE: Hot Money Inflows Can Affect Balance Of International Payments

2010/10/28 15:15*DJ SAFE: FX Irregularities Create Opportunity For Hot Money Inflows

2010/10/28 15:07*DJ ECB Weber: Euro-Zone Current Account "Quite Balanced"

2010/10/28 15:04DJ Tokyo Shares End Down; Resource Stocks' Fall Offsets Earnings
Brad Frischkorn Of TOKYO -Tokyo stocks fell on Thursday as weakness in resource-linked shares such as Inpex offset encouraging earnings reports from heavily-weighted firms such as Canon and Central Japan Railway.The Nikkei Stock Average fell 21.00 points, or 0.2%, to 9366.03 following Wednesday's 0.1% rise. The Topix index of all the Tokyo Stock Exchange First Section issues also fell 3.43 points, or 0.4%, to 814.33, with 27 of 33 Topix subindexes ending in negative territory.Stocks continued the pattern of largely non-committal trading seen earlier in the week, with somewhat subdued total volume and anticipation over monetary policy-setting announcements from the U.S. Federal Open Market Committee , which is slated to meet next week. The Nikkei has fallen in five of the last seven sessions."If the dollar rises further to the Y82-Y83 level, the market mood would change ," said Meiwa Securities senior market analyst Masayoshi Yano, adding that the November 2-3 FOMC meeting will be key to determining the direction of the currency pair.Stocks opened lower, impacted primarily by resource-linked stock declines on overnight falls in oil, gold and other commodity prices. Sumitomo Metal Mining dropped 0.9% to Y1,281 and Inpex fell 1.3% to Y431,000.As corporate earnings reporting season hits full stride, results and forecast announcements resulted in sharp price movements in select shares. Canon rose 3.7% to Y3,755 on heavy volume after reporting solid third quarter earnings and upgrading its full-year net profit forecast.Fanuc, which reported its fiscal first half results during trading hours on Wednesday, added 5.5% to Y11,850, extending its prior day gains on follow-though buying, according to analysts. The Nikkei reported that Fanuc will boost production capacity for small machining centers from 1,600 units a month to 2,500 by the first half of fiscal 2011 to meet robust demand in China and other Asian countries.Central Japan Railway, or "JR Central", also added 3.8% to Y622,000 after announcing solid April-September earnings featuring a rise in net profit by 27% on-year. The company also revised up its full-year earnings outlook.Fujitsu also closed up 3.3% to Y560 on relief that its second quarter results were mostly in-line with expectations. A fund manager at Japanese asset management firm said that the results triggered dip-buying since shares had fallen by double digits from mid-September amid concerns that U.K. government budget cuts would hurt its revenue from IT services.On the other hand, Renesas Electronics closed down 7.7% to Y631 after lowering its revenue estimate to Y1.170 trillion from Y1.190 trillion due to the stronger yen. The firm also announced that it had made early retirement offers to 1,200 workers. A fund manager at a Japanese asset management firm said that the firm's sluggish earnings reinforced concerns about the grim outlook for the semiconductor market.December Nikkei 225 futures closed down 40 points, or 0.4%, to 9370 on the Osaka Securities Exchange. The contract briefly rose to 9420 on the BOJ's announcement that it would leave its super-easy monetary policy unchanged. Investors were also seen briefly reacting positively to the BOJ's decision to bring forward its next policy board meeting to November 4-5--one day after the November FOMC meeting--from November 15-16.
2010/10/28 15:04*DJ Stoxx Europe 600 Index Up 0.3% After The Open

2010/10/28 15:04DJ BOJ: Fiscal Year 2012 Core CPI Median View +0.6%
TOKYO -The Bank of Japan's policy board expects the core consumer price index to rise by 0.6% in the fiscal year starting in April 2012, below the figure seen by the central bank as representing price stability.The board didn't change its median forecast for core CPI for the next fiscal year starting April 2011 from a 0.1% rise forecast in July, the bank's semiannual economic outlook report showed Thursday.While refusing to issue a "target" figure for inflation, the central bank has said the board believes a range between 0% and 2% in on-year CPI changes would represent price stability in the medium to long term and that the board "does not tolerate" falling prices.The nine-member board also projects real gross domestic product to rise by 2.1% in fiscal 2012. It revised down growth projection for the next fiscal year to 1.8% from a 1.9% expansion forecast three months earlier.The BOJ policy board issues economic and price forecasts in April and October, and compares the actual outcomes with the projections in considering policy moves. It conducts interim reviews of those forecasts in January and July.
2010/10/28 15:04*DJ FTSE 100 Up 0.6% After The Open

2010/10/28 15:01DJ Forex Options: Dollar/Yen Options Down, Bargain Hunting May Blunt Further Falls
TOKYO -Dollar/yen options fell in Asia Thursday as demand for hedges against the U.S. unit's downside waned as the currency remained firm against its Japanese counterpart, but dealers said lower option prices may attract bargain hunting that could blunt further falls this week.Benchmark volatilities implied by one-month at-the-money options stood at 11.00%/11.70%, down from 11.25%/11.95% in New York Wednesday. The drop came as the dollar remained in a relatively narrow Y81.53-Y81.78 band in morning trade in Tokyo, well above the fresh 15-year low the currency marked at Y80.41 earlier this week.But in a sign that demand persists for hedges against a pickup in volatility ahead, possibly after a meeting of the Federal Reserve's policy-setting Open Market Committee next week, one player bought a one-month at-the-money dollar/yen straddle contract with implied volatility of 11.30%, a dealer at a major Japanese bank said. Straddles profit on wide swings in the exchange rate.'I think option prices may be bottoming out for now,' the dealer said. 'We've even seen quite a bit of buying interest in yen-put/dollar-call contracts,' he said. Such contracts would profit if the dollar rises against the yen.Dealers said some investors may be betting that any further quantitative easing steps by the FOMC, if smaller than expected, could push the dollar up.The Wall Street Journal reported Wednesday that the Fed would buy only a few hundred billion dollars worth of U.S. Treasurys over the next few months, much smaller than its $2 trillion worth of stimulus in its first round of bond buying during the financial crisis.
2010/10/28 14:54DJ Nissan To Recall More Than 2 Million Cars Due To Faulty Engine Control System
TOKYO --Japan's Nissan Motor Co. Ltd. (7201.TO, NSANY) said Thursday it was recalling more than 2.1 million cars globally due to a faulty engine control system.Nissan will exchange for free defective parts on certain models, as the fault may 'cause the engine to stall while running', the company said in a report to the Japanese transport ministry.In Japan alone, Nissan will recall a total of 834,759 vehicles of nine models, including the Cube, March and Tida, produced between 2003 and 2006 in Japan, the spokesman said.
2010/10/28 14:46*DJ French Sep PPI Forecast Unch On Month; +3.8% On Year

2010/10/28 14:45*DJ French Sep PPI +0.3% On Month; +4.2% On Year

2010/10/28 14:30*DJ BOJ: Next FY Real GDP Median View +1.8% Vs +1.9% In July

2010/10/28 14:30=DJ MONEY TALKS: Gold Bulls Beware Of Market Peaking Soon

2010/10/28 14:28*DJ BOJ: This FY Core CPI Median View -0.4% Vs -0.4% In July

2010/10/28 14:26*DJ BOJ: Next FY Core CPI Median View +0.1% Vs +0.1% In July

2010/10/28 14:15*DJ PBOC Adviser: Hastening Economic Restructuring Will Lead To Fast Growth Next 5 Years

2010/10/28 14:13*DJ PBOC Adviser: Reducing Domestic Economic Imbalances Key Challenge For Future Growth

2010/10/28 14:11*DJ BOJ:Recent Yen Rises May Push Down Prices

2010/10/28 14:11*DJ BOJ: Improvements In Consumer Prices Expected To Be Moderate

2010/10/28 14:10*DJ BOJ: Japan Economy To Stay On Recovery Trend

2010/10/28 14:10*DJ BOJ:CPI On Yr Changes Expected To Turn Positive Next FY

2010/10/28 14:09*DJ BOJ: Japan Economy Expected To Grow Faster Than Potential Growth FY 12

2010/10/28 14:08*DJ BOJ: Japan Economy Still Shows Signs Of Moderate Recovery

2010/10/28 14:08*DJ Nikkei Stock Average Closes Down 0.2% At 9366.03

2010/10/28 14:07*DJ BOJ: FY12 Real GDP Median View +2.1%

2010/10/28 14:06*DJ BOJ: Pace Of Japan Economic Recovery Slowing Down

2010/10/28 14:03*DJ BOJ: FY12 Core CPI Median View +0.6%

2010/10/28 14:01*DJ UK House Prices Were Forecast -0.4% MM: +2.1% YY

2010/10/28 14:00*DJ UK Nationwide Oct House Prices -0.7% MM; +1.4% YY

2010/10/28 13:53=DJ TAKING STOCK: Stocks Shouldn't Blindly Follow Dollar's Guidance

2010/10/28 13:41*DJ Nissan To Recall More Than 2 Million Cars Due To Faulty Engine Control System

2010/10/28 13:23DJ BOJ Leaves Overnight Call Rate Range At 0.0% To 0.1%
TOKYO -The Bank of Japan's policy board decided Thursday to leave its super-easy monetary policy unchanged, after surprising the markets with a rate cut and a new Y5 trillion asset-purchase program at its previous meeting earlier this month. The central bank also decided to push ahead its next policy board meeting to Nov. 4-5 from Nov. 15-16. The board voted unanimously at the end of today's one-day meeting to keep the bank's unsecured overnight call loan rate at a range of 0.0%.1%. The board also discussed further details of a planned Y5 trillion fund to purchase various financial assets. The bank said it will buy corporate bonds rated BBB or higher, and commercial paper rated a2 or higher. Market participants are now waiting for the release of the central bank's semiannual outlook report on the economy and prices at 0600 GMT, and BOJ Gov. Masaaki Shirakawa's remarks at a press conference starting at 0630 GMT.
2010/10/28 12:51*DJ Vietnam Central Bank To Keep Benchmark Rate For Dong Loans At 8% In November

2010/10/28 12:40*DJ BOJ To Buy Y3.5 Tln JGBs, Short-Term Government Bills

2010/10/28 12:39*DJ BOJ To Buy Y450 Bln Of Exchange Traded Funds

2010/10/28 12:38*DJ BOJ To Buy Y500 Bln Each Of CP, Corporate Bonds

2010/10/28 12:36*DJ BOJ To Buy Asset-Backed Commercial Paper Rated a1 Or Higher

2010/10/28 12:36*DJ BOJ To Hold Novermber Meeting Nov 4-5

2010/10/28 12:36*DJ BOJ Decides To Change Dates Of November Meeting

2010/10/28 12:35*DJ BOJ To Buy Commercial Paper Rated a2 Or Higher

2010/10/28 12:34*DJ BOJ To Buy Corporate Bonds Rated BBB Or Higher

2010/10/28 12:33*DJ BOJ Board Votes Unanimously To Keep Rates Unchanged

2010/10/28 12:33*DJ BOJ Leaves Overnight Call Rate Range At 0.0% To 0.1%

2010/10/28 12:31*DJ BOJ Sets Overnight Call Rate Range At 0.0% To 0.1%

2010/10/28 11:41=DJ FOREX VIEW: Dollar Blues Possible In GOP Election Triumph

2010/10/28 11:27DJ Hidili Industry Seeks To Pay 8.75% On $400 Mln 5-Year Bond - Source
DJ Hidili Industry Seeks To Pay 8.75% On $400 Mln 5-Year Bond - SourceSINGAPORE -Hidili Industry International Development Ltd. (1393.HK) is now seeking to pay 8.75% on its planned $400 million, five-year bond, a person familiar with the situation said Thursday.The company aims to price the bond in New York trade today, the person said.Hidili, which is based in China's Sichuan province and is the largest coking coal producer in southwest China by output, intends to use the funds for debt repayment and capital expenditure.Bank of America-Merrill Lynch, Citigroup, J.P. Morgan and UBS are bookrunners for the offering.The five-year bond will be callable after three years.The proposed bond is rated B1 with a stable outlook by Moody's Investors Service and BB- with a negative outlook by Standard & Poor's Ratings Services.
2010/10/28 11:25DJ Sun Hung Kai Properties Raising US$300 Mln In 10-Year Notes - Source
DJ Sun Hung Kai Properties Raising US$300 Mln In 10-Year Notes - SourceHONG KONG -A unit of Hong Kong developer Sun Hung Kai Properties Ltd. (0016.HK) is raising US$300 million in a 10-year bond issue that carries a fixed coupon of 4%, a person familiar with the situation said Thursday.Sun Hung Kai Properties Ltd. will use the proceeds from the bond issue for general working purposes, according to Standard & Poor's, which has assigned an A long-term issue rating to the senior unsecured notes.The ratings agency said the notes are a drawdown under Sun Hung Kai's US$4 billion debt issuance program guaranteed by the blue-chip developer.HSBC is a joint bookrunner on the bond issue, according to the person familiar with the situation.
2010/10/28 10:51DJ Credit Suisse Joining Fund to Meet Risk Rules -FT
dit Suisse Group is raising $800 million for a fund to help European banks reduce the amount of capital they have to set aside under new international banking rules, the Financial Times reported Wednesday on its website, citing documents.The fund--initiated earlier this year by credit fund manager Christofferson Robb & Company--would make targeted 'bank capital regulatory relief' investments, according to the documents, the report said.The fund is designed to let banks satisfy regulatory requirements that a 'significant risk transfer' has taken place on risky assets they hold, allowing them to reduce the amount of money they have to hold in reserve as a buffer in case such instruments turn sour, the report said.It said there are early-stage plans from several other banks for similar projects, citing an unnamed person familiar with the matter.Full story:http://www.ft.com/cms/s/0/4c5b72b2-e215-11df-92330144feabdc0.html
2010/10/28 10:37=DJ SEC To Vote On Proposed 'Naked Access' Ban Nov. 3

2010/10/28 10:35*DJ Hidili Industry Seeks To Pay 8.75% On $400 Mln 5-Year Bond - Source

2010/10/28 10:07DJ Travellers International Raises $300 Mln Via 7.5% Bond Due 2017
DJ Travellers International Raises $300 Mln Via 7.5% Bond Due 2017MANILA -Travellers International Hotel, developer of Resorts World Manila, said Thursday it has raised $300 million in its maiden bond issue.Proceeds from the 7.5% bond due 2017 will be used by Travellers International, a joint venture between Philippine-listed Alliance Global Group Inc. (AGI.PH) and Genting Hong Kong Ltd. (0678.HK), for the continued expansion of Resorts World Manila, a tourism enclave just across Manila's new international airport terminal.Lauro Baja, managing director of UBS, sole global coordinator of the bond issue, said the order book for Travellers International's bond reached $1.1 billion while the coupon was the lowest for a gaming company worldwide.Baja said the unsecured, unrated bonds attracted 88 investors, with 59% of the bonds sold to banks and 25% to fund managers. He added that 90% of the bonds were sold to Asian investors and 10% to investors in Europe.
2010/10/28 10:04DJ BOJ Likely To Cut Estimates For Japan Growth, Prices -Kyodo
TOKYO -The Bank of Japan is expected to downgrade its forecasts for the country's economic growth and prices at its policy meeting on Thursday amid signs that the return of the economy to a path of sustainable expansion will be delayed due to deflation, Kyodo News reported Thursday.At its Policy Board meeting, the central bank is also expected to maintain its key interest rate in a range of around zero to 0.1% and finalize some details on additional monetary easing outlined earlier this month, including a Y5 trillion program to purchase financial assets in order to facilitate corporate financing.The BOJ will reveal its latest outlook for economic activity and prices, following its projections in July of real gross domestic product growth of 2.6% in fiscal 2010 and a 0.4% decline in the core consumer price index, which excludes fresh food prices. As for fiscal 2011 starting April, the central bank forecast earlier that real GDP would expand 1.9% and the core CPI would edge up 0.1%.The BOJ is likely to downgrade all of the figures and will also reveal estimates for fiscal 2012.In its meeting Oct. 4 to 5, the bank's Policy Board decided to embark on 'comprehensive monetary easing,' reinstating its zero interest rate policy and pledging that the BOJ would maintain the policy 'until it judges that price stability is in sight.'The bank's understanding of medium- to long-term price stability is a year-on-year change in the core CPI that falls in 'a positive range of 2% or lower.'The BOJ is currently examining establishing a Y5 trillion program as a temporary measure to purchase financial assets ranging from government and corporate bonds to exchange-traded funds and real estate investment funds, in addition to its existing Y30 trillion lending operation that offers three- and six-month money against collateral at interest rates as low as 0.1%.It would purchase the assets from commercial banks and other financial institutions in order to help drive lower long-term interest rates and the interest rate premiums of private-sector debt over government bonds. Details of the program are expected to be announced Thursday.
2010/10/28 09:25*DJ Sun Hung Kai 10-Year Notes Carry Coupon Of 4% - Source

2010/10/28 09:25*DJ Sun Hung Kai Properties Raising US$300 Mln In 10-Year Notes - Source

2010/10/28 08:40=DJ JP Morgan, HSBC Sued For 'Manipulating' Silver Futures Prices

2010/10/28 08:40*DJ Nikkei Stock Average In Positive Territory

2010/10/28 08:15DJ Japan Sep Overall Retail Sales +1.2% On Year
DJ Japan Sep Overall Retail Sales +1.2% On Year TOKYO -Japanese retail sales rose 1.2% in September from a year earlier, government data showed Thursday, marking the ninth straight monthly rise. The figures, released by the Ministry of Economy, Trade and Industry, showed that the pace of increase in retail sales slowed in the month after a 4.3% rise in August. Sales at large-scale retailers fell 1.7% on year, after adjustment for the change in the number of stores, the METI data showed. Website: http://www.meti.go.jp/english/statistics/index.html
2010/10/28 08:03*DJ Nikkei Stock Average Opens Down 0.2% At 9368.61

2010/10/28 08:02*DJ Lead 10-Yr JGB Futures Open Dn At 143.02 Vs 143.18 Wed

2010/10/28 07:51*DJ Japan Sep Large-Scale Retailers' Sales +1.7% On Year

2010/10/28 07:50*DJ Japan Sep Overall Retail Sales +1.2% On Yr

2010/10/28 06:51=DJ WORLD FOREX: Dollar Posts Gains On Reconsidered QE Expectations-2-

2010/10/28 06:01DJ Treasurys Drop As Adjustments On Fed Bets Hurt Financial Markets
(Updates bond yields; adds swap spreads and price table.) By Min Zeng Of YORK -Treasury prices fell broadly Wednesday as many investors unwound bets that the Federal Reserve would buy government bonds on a large scale.The benchmark 10-year note's yield touched 2.725%, the highest level since Sept. 20, a day before the central bank's last monetary policy meeting. At that meeting, the central bank suggested that it was prepared to buy more Treasurys to stimulate the economy, known as quantitative easing.As investors adjusted wagers on the Fed plan, expected to be disclosed at the Nov. 2-3 Federal Open Market Committee meeting, it sapped demand for a sale of $35 billion five-year notes auction.The shift also fueled selling in U.S. stocks, crude oil, gold and government bonds in Germany and the U.K.. All those assets benefited from expectations of large-scale Fed pump-priming. The dollar, the loser in Fed stimulus because it essentially prints money, posted strong gains against many major rivals.Doubts about the size and scope of the Fed plan have emerged in recent sessions, but took off Wednesday after a Wall Street Journal article said the central bank would purchase only a few hundred billion dollars of Treasurys over the next few months. That measured approach contrasts with the $2 trillion in stimulus during the first round of bond buying, unveiled during the financial crisis.The 10-year note's yield, a benchmark for consumer and corporate borrowings, has risen from the recent trough of 2.332%, set Oct. 8, the lowest level since January 2009."People are getting punched because they have accumulated too many holdings of Treasurys," said Charles Comiskey, head of Treasury trading at Bank of Nova Scotia in New York. He said that the five-year to 10-year maturities that have benefited the most from the recent rally bore the brunt of the selling.As of 4 p.m. EDT, the benchmark 10-year note was down 21/32, with its yield up by about 0.08 percentage point to 2.723%. The 30-year bond was down 29/32 to yield 4.056%. The five-year note was 9/32 lower to yield 1.316%. Bond prices move inversely to yields.The U.K. gilts were hit the hardest among major government debt securities. Bets that the Bank of England will conduct its own additional bond purchases in November were sharply cut following Tuesday's better-than-forecast gross domestic product report. The 10-year gilt's yield rose by about 0.09 percentage point to 3.145% Wednesday."It has been the same theme...[Fed bond-buying] will be different: open-ended, smaller in size at announcement and revised as we go," said Hicham Hajhamou, a Treasury trader in New York at BNP Paribas Securities Corp.Demand for Wednesday's five-year notes was still healthy as they were sold at a yield of 1.33%, the second-lowest auctioned yield for the maturity.The record-low yield for a five-year notes sale was set at 1.26% last month. That means the U.S. government continues to borrow at historically low interest rates to fund a budget shortfall. But the yield was above the 1.322% traded right before the sale. The higher yield means bidding prices were weaker than market participants had anticipated.The indirect bid, a proxy of buying from foreign investors including central banks, was 39%, down from the average of 45.7% for the previous four auctions, suggesting weaker demand."The auction was a touch soft but hanging in there as the whole market is affected by the [fed bond buying] buzz and the uncertainty will not stop until we hear from the Federal Open Market Committee next week," said Thomas Roth, executive director in the U.S. government bond trading group at Mitsubishi UFJ Securities Inc in New York.The Treasury will sell $29 billion in seven-year notes at 1 p.m. EDT Thursday, which will wrap up this week's $109 billion Treasury notes auctions. US Swap Spreads Mixed The two-year spread, which measures the differential between the two-year swap rate and two-year Treasury yield and a main gauge of credit risks, was 0.25 basis point tighter at 16.5 basis points. The 10-year swap spread was unchanged at 8.75 basis points.COUPON ISSUE PRICE CHANGE YIELD CHANGE3/8% 2-year 99 29/32 flat 0.414% flat3/4% 3-Year 99 20/32 dn 3/32 0.625% +3.2BP1 1/4% 5-year 99 22/32 dn 9/32 1.316% +6.3BP1 7/8% 7-Year 98 30/32 dn 16/32 2.039% +7.7BP2 5/8% 10-year 99 5/32 dn 21/32 2.723% +7.8BP3 7/8% 30-year 96 28/32 dn 29/32 4.056% +5.4BP***********2-10-Yr Yield Spread: +231 BPS Vs +224 BPS Source: Tradeweb
2010/10/28 05:40*DJ JP Morgan, HSBC Sued For 'Manipulating' Silver Futures Prices

2010/10/28 05:35DJ US Stocks Pare Losses; DJIA, S&P 500 Lower As Energy Sector Drags-2-

2010/10/28 05:16=DJ Fed's Dudley Repeats Speech That Fed Will Likely Aid Economy Again

2010/10/28 05:02=DJ WORLD FOREX: Dollar Posts Gains On Reconsidered QE Expectations

2010/10/28 04:52DJ US Stocks Pare Losses; DJIA, S&P 500 Lower As Energy Sector Drags

2010/10/28 04:42DJ Reserve Bank Of NZ Keeps Cash Rate Unchanged At 3.00%

2010/10/28 04:10*DJ DJIA Closes Near Day's Highs, Off 44.31 (0.40%) At 11125.07; McDonald's, Merck Weigh

2010/10/28 04:10*DJ Nasdaq Closes Up 5.97 (0.24%) At 2503.26; Materials, Industrials Decline

2010/10/28 04:06*DJ RBNZ Bollard: Further Removal Of Monetary Policy Support Required At Some Stage

2010/10/28 04:05*DJ Fed's Dudley Repeats Speech That Fed Will Likely Aid Economy Again

2010/10/28 04:05*DJ RBNZ Bollard: Recent Domestic Data Has Turned Out Weaker Than Projected

2010/10/28 04:00*DJ Reserve Bank of NZ Keeps Cash Rate Unch At 3.00%

2010/10/28 03:58DJ PRECIOUS METALS: Gold Declines On Lower Stimulus Expectations

2010/10/28 03:50DJ OIL FUTURES: Crude Ends Down As Dollar Gains Weigh
NEW YORK -Crude futures settled lower Wednesday as a stronger dollar weighed on prices, but an unexpected drop in weekly gasoline inventories helped prevent a larger decline.Light, sweet crude for December delivery settled 61 cents, or 0.7%, lower at $81.94 a barrel on the New York Mercantile Exchange after falling as low as $80.52 earlier in the session. Brent crude on the ICE futures exchange settled 43 cents lower at $83.23 a barrel.Oil prices ended lower on a sharp rebound in the dollar, which rallied as investors scaled back their hopes about the U.S. Federal Reserve's plan to stimulate the economy. But the move lower in crude was tempered by a sharp drop in U.S. inventory levels of gasoline and other fuels, which was enough to keep prices from edging toward $80 a barrel."It seems like there is an overall bullish bias in the oil market," said Mike Zarembski, senior commodities analyst at OptionsXpress. "As long as that fear of inflation is in the back of traders' minds, it's going to be difficult for anyone to get really negative on crude," he said.A weakening dollar has been the driving force in crude's rally above $80 in October, as investors flock to hard assets on worries about drops in currency values. The ICE Dollar Index, which measures the dollar against a basket of currencies, was recently up 0.6%. The euro fell 0.7% to $1.3763.But even though supplies remain well above average, U.S. commercial stockpiles of oil and oil products have fallen back from 27-year highs, and weekly data from the U.S. Department of Energy released Wednesday showed a continued decline.The department's Energy Information Administration said U.S. crude inventories rose by 5 million barrels in the week ended Oct. 22. But stocks of gasoline dropped by 4.4 million barrels and inventories of distillates, which include heating oil and diesel, fell by 1.6 million barrels."The gasoline draw was just massive," said Stephen Schork, head of energy-advisory firm Schork Group. He said declines in product inventories were an optimistic sign, though he cautioned the report remained mixed.The decline helped push gasoline futures into positive territory. Front-month November reformulated gasoline blendstock, or RBOB, settled 0.8 cent higher at $2.1020 a gallon.Analysts surveyed by expected a 700,000-barrel rise in crude stockpiles. Gasoline inventories were expected to fall 200,000 barrels, while stocks of distillates, including heating oil and diesel, were projected to fall by 1 million barrels.Increased demand for gasoline was likely due to refinery strikes in France, Citi Futures Perspectives analyst Tim Evans said in a client note. Labor unrest had until this week closed all of the country's 12 refineries."There is an entrenched commitment to the long side of the market here," Evans said of crude's modest losses Wednesday. "It is a display of strength in the near term, but it is the process by which markets become overvalued."November heating oil settled 1.17 cents lower at $2.2383 a gallon.More information on settlements and highs and lows for futures on Nymex and ICE platforms can be found by searching for the following headlines: Nymex Light Crude Oil Close Nymex Harbor RBOB Gasoline Close Nymex Heating Oil Close ICE Brent Crude Oil Close ICE Gas Oil Close
2010/10/28 03:15DJ NAHB Sees 2010 Single-Family Housing Starts Up 8.4% On Year
WASHINGTON -The National Association of Home Builders on Wednesday slashed its 2010 forecast for single-family home construction, but said activity will accelerate the following two years.Single-family housing starts are set to grow 8.4% this year to 479,000 before construction hits 655,000 new houses in 2011 and 970,000 in 2012, the association said."Single-family starts will revive, slowly," chief economist David Crowe said in presentation slides ahead of the group's construction forecast seminar.In May, the group had forecast 552,000 single-family starts in 2010. That would have been a 24.9% jump from last year's 442,000, the lowest annual output since the government began collecting the data in 1959.September construction starts on single-family homes rose 4.4% to a seasonally adjusted annual rate of 452,000, the Commerce Department said last week. Overall housing starts, which include ground-breakings on apartment and other multifamily buildings, increased 0.3% from August to an annual rate of 610,000.
2010/10/28 02:50*DJ OIL FUTURES: Nymex Crude Settles Down 61c At $81.94/Bbl

2010/10/28 02:37*DJ OIL FUTURES: Crude Ends Down As Dollar Gains Weigh

2010/10/28 02:37*DJ OIL FUTURES: Nymex Crude Closes Down 61c At $81.94/Bbl

2010/10/28 01:39DJ Trichet: ECB "Prudent And Cautious" On Region's Economic Outlook
PAFOS, Cyprus -Economic activity in the euro zone has surprised on the upside, but the European Central Bank will remain "prudent and cautious" with regard to the region's economic outlook, ECB President Jean-Claude Trichet said Wednesday.Trichet, speaking at a press conference in Pafos, Cyprus, reiterated that inflation expectations in the euro zone "are anchored, so there is less risk of inflation or deflation.""We need to keep pursuing reforms and project confidence in the economy for savers, investors, businesses and consumers," he told reporters.Website: www.ecb.int
2010/10/28 01:07*DJ Treasurys Lower After 5-Yr Sale Amid Doubts On Fed Bond Buying

2010/10/28 01:04*DJ 5-Yr Treasurys Sold At Second-Lowest Auctioned Yield Of 1.330%

2010/10/28 00:33DJ Midwest Factory Activity Edges Up In September --Chicago Fed

2010/10/28 00:32DJ Midwest Factory Activity Edges Up In September --Chicago Fed

2010/10/28 00:30DJ Midwest Factory Activity Edges Up In September --Chicago Fed

2010/10/28 00:17*DJ Trichet: ECB "Prudent And Cautious" On Economic Outlook

2010/10/28 00:16*DJ Trichet: Euro-Zone Inflation Expectations Are Anchored