Regulators on the flash crash: it's complicated
If market regulators had a Facebook page to describe their relationship with the investors, their status would be “it’s complicated. See full story.
Rejection of Democrat measures may slow bank bill
The Senate is set to vote on a key motion that if approved could lead to enactment of a sweeping bank reform bill by the end of the week, but rejection of some Democratic provisions could cause a late obstacle to final passage. See full story.
SEC proposes creating unified stock-halt system
Top regulators and stock-exchange officials call for a unified circuit-breaker system for all exchanges to halt or slow down trades of a particular stock if the price moves 10% or more in a five-minute period. See full story.
Europe shares down after German short-sale ban
Europe stocks fall on Wednesday as a solo effort from Germany to crack down on speculators highlights policy-making disparity in the region and alerts investors to the possibility of a crisis. See full story.
MARKETWATCH COMMENTARY
Facebook is in the eye of a storm, writes Therese Poletti. See full story.
MARKETWATCH PERSONAL FINANCE
The global recession had largely muzzled inflation's bite, but actions being taken to cure the developed world’s economic ills could revive threats to bond investors and savers and spoil many Americans’ retirement plans
Wednesday, May 19, 2010
Saturday, October 17, 2009
Biggest economies try
The World Climate Change conference will take place in the Danish capital in December.
A senior Republican in the United States Senate, conservative Senator Lisa Murkowski, said she would consider voting for a "cap and trade" climate change bill Democrats are pushing if it also contains a vigorous expansion of nuclear energy and domestic oil drilling.
In an interview set to air on Sunday on the C-SPAN cable TV network, Murkowski said cap and trade legislation, which aims to mandate reductions of carbon dioxide and other greenhouse gas emissions, must protect consumers from energy price increases and contain safeguards against market manipulation of pollution permits that would be traded by companies.
Some of these elements already are included in Democratic legislation in the Senate and House of Representatives.
"Count me as one of those who will keep my mind open as we move forward," said Murkowski, the senior Republican on the Senate energy panel and a member of her party's leadership.
Murkowski's remarks came after her fellow conservative, Senator Lindsey Graham, published a column in The New York Times with liberal Senator John Kerry, in which they vowed to work together to advance legislation tackling global warming.
In signaling her willingness to work on a bill, Murkowski said Democrats must include tangible incentives for building nuclear power plants and stepping up domestic oil drilling, offshore and on land. It has got to be "more than just window dressing," she warned.........
Representatives of the world's 17 biggest and most polluting nations gather Sunday to search for a breakthrough on financing efforts to contain climate change and reduce gas emissions causing global warming.
Pressure has been mounting for the United States to finalize its position before a decisive December conference in Denmark meant to cap two years of negotiations on a global climate change treaty.
"With only 50 more days to go before the final talks at Copenhagen, we have to up our game. Britain is determined to throw everything at this because the stakes are so high," British Environment Minister Ed Miliband said in a statement released Sunday.
Earlier Miliband had said it was "important that the U.S. makes as much progress as possible" at the two-day meeting of the Major Economies Forum.
The Obama administration said the pace of its action was determined by the U.S. Congress, where climate bills were making their slow way toward legislation — an argument which cut little ice with other negotiators.
"The rich countries of the Major Economies Forum must urgently put new money on the table to ensure the developing world can grow cleanly and adapt to the effects of climate change, which are already putting millions of lives at risk," said Asad Rehman of Friends of the Earth.
Miliband said there had been some progress.
"We have seen countries moving toward each other: India, Japan, China and Indonesia have all made significant shifts in the past few weeks," Miliband said.
"As the deadline races toward us, it becomes more important to narrow the gaps between countries as fast as we can," he said.
One further negotiating session is set for November in Barcelona, Spain.
But pessimism was mounting that a deal can be struck without policy changes at the highest level.
"In recent months, the prospects that states will actually agree to anything in Copenhagen are starting to look worse and worse," Rajendra Pachauri, head of the U.N. scientific panel studying climate change, wrote on the Newsweek Web site posted Friday.
President Barack Obama initiated the Major Economies Forum earlier this year as an informal caucus to quietly deal with the toughest problems. Participants agree to keep the talks confidential.
A key issue is helping poor countries adapt to changes in the Earth's climate that threaten to flood coastal regions, make farming unpredictable and spread diseases. They also need funds and technologies to develop their economies without overly increasing pollution.
Estimates range in the hundreds of billions of dollars needed every year, but a formula for raising, administering and distributing the funds has proved elusive.
"Only bold pledges by rich countries to slash their emissions by at least 40 percent by 2020 without carbon offsetting and a commitment to provide at least $200 billion of new money will break the current logjam," Rehman said.
Wednesday, October 14, 2009
US retail sales fell in September by the largest amount in 2009
The Commerce Department said sales slid 1.5%, not as bad as expected, but the biggest drop since December last year.
Car sales dropped by 10.4% but when vehicles were stripped out, retail sales actually rose by 0.5%, better than the 0.2% which had been forecast.
Consumer spending makes up more than two thirds of US economic activity.
A late Labor Day holiday helped retailers last month because consumers purchased some items in September that they would normally have bought in August, analysts said.
'Expected'
The 1.5% drop in September's retail sales followed a 2.2% rise in August, which was revised down from an earlier estimate of 2.7%.
That came as demand for new cars surged in August as buyers took advantage of the final month of the government's incentives of up to $4,500 to trade in old models for more fuel-efficient cars.
The Commerce Department figures showed that sales in furniture stores jumped 1.4%, reflecting the rebound in the housing industry. Meanwhile, sales at general merchandise stores such as Wal-Mart and Target, rose 0.9%.
"Certainly the numbers were better than expected," said Scott Brown, chief economist at Raymond James Associates.
"You did see a big drop in vehicle sales as cash for clunkers expired, which was in line with expectations."
Car sales dropped by 10.4% but when vehicles were stripped out, retail sales actually rose by 0.5%, better than the 0.2% which had been forecast.
Consumer spending makes up more than two thirds of US economic activity.
A late Labor Day holiday helped retailers last month because consumers purchased some items in September that they would normally have bought in August, analysts said.
'Expected'
The 1.5% drop in September's retail sales followed a 2.2% rise in August, which was revised down from an earlier estimate of 2.7%.
That came as demand for new cars surged in August as buyers took advantage of the final month of the government's incentives of up to $4,500 to trade in old models for more fuel-efficient cars.
The Commerce Department figures showed that sales in furniture stores jumped 1.4%, reflecting the rebound in the housing industry. Meanwhile, sales at general merchandise stores such as Wal-Mart and Target, rose 0.9%.
"Certainly the numbers were better than expected," said Scott Brown, chief economist at Raymond James Associates.
"You did see a big drop in vehicle sales as cash for clunkers expired, which was in line with expectations."
Tuesday, July 7, 2009
New York Late Money Rates
New York Late Money Rates ,,,,,,
Wall Street Journal ...........
Money Rates Monday, July 6, 2009 The key U. S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions. Prime Rate: 3.25% (effective 12/16/08). The base rate on corporate loans posted by at least 75% of the nation's 30 largest banks. Discount Rate (Primary): 0.50% (effective 12/16/08). Call Money: 2.00% (effective 12/16/08). Commercial Paper: Placed directly by General Electric Capital Corp.: 0.21% 30 to 30 days; n.q.31 to 49 days; n.q.50 to 89 days; n.q.90 to 119 days; n.q.120 to 125 days; n.q.126 to 141 days; n.q.142 to 151 days; n.q.152 to 161 days; n.q.162 to 270 days. Euro Commercial Paper: Placed directly by General Electric Capital Corp.: 0.36% 30 days; 0.56% two months; 0.75% three months; 0.83% four months; 0.90% five months; 0.98% six months. Dealer Commercial Paper: High-grade unsecured notes sold through dealers by major corporations: 0.35% 30 days; 0.40% 60 days; 0.45% 90 days. Certificates of Deposit: 0.35% one month; 0.45% three months; 0.80% six months. Bankers Acceptances: 0.40% 30 days; 0.48% 60 days; 0.55% 90 days; 0.55% 120 days; 0.75% 150 days; 0.85% 180 days. Source: Tullett Prebon Information, Ltd. Eurodollars: 0.65% - 0.25% one month; 0.75% - 0.35% two months; 1.00% - 0.40% three months; 1.00% - 0.40% four months; 1.15% - 0.45% five months; 1.25% - 0.55% six months. Source: Tullett Prebon Information, Ltd. London Interbank Offered Rates (Libor): 0.30188% one month; 0.54813% three months; 1.03125% six months; 1.51375% one year. Effective rate for contracts entered into two days from date appearing at top of this column. Euro Libor: 0.66000% one month; 1.03625% three months; 1.26500% six months; 1.45375% one year. Effective rate for contracts entered into two days from date appearing at top of this column. Euro Interbank Offered Rates (Euribor): 0.684% one month; 1.048% three months; 1.268% six months; 1.456% one year. Source: Reuters. Foreign Prime Rates: Canada 2.25%; European Central Bank 1.00%; Japan 1.475%; Switzerland 0.51%; Britain 0.50%. Treasury Bills: Results of the Monday, July 6, 2009, auction of short-term U.S. government bills, sold at a discount from face value in units of $1,000 to $1 million: 0.190% 13 weeks; 0.285% 26 weeks. Tuesday, June 30, 2009 auction: 0.160% 4 weeks. Overnight Repurchase Rate: 0.23%. Source: Garban Intercapital. Freddie Mac: Posted yields on 30-year mortgage commitments. Delivery within 30 days 4.95%, 60 days 5.05%, standard conventional fixed-rate mortgages: 2.50%, 2% rate capped one-year adjustable rate mortgages. Fannie Mae: Posted yields on 30 year mortgage commitments (priced at par) for delivery within 30 days 4.932%, 60 days 5.027%, standard conventional fixed-rate mortgages. Merrill Lynch Ready Assets Trust: 0.05%. Consumer Price Index: May, 213.9, down 1.3% from a year ago. Bureau of Labor Statistics. Federal Funds: 0.313% high, 0.125% low, 0.150% near closing bid, 0.250% offered. Source: Tullett Prebon Information, Ltd. Federal-funds target rate: 0.000% (effective 12/16/08).
Wall Street Journal ...........
Money Rates Monday, July 6, 2009 The key U. S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions. Prime Rate: 3.25% (effective 12/16/08). The base rate on corporate loans posted by at least 75% of the nation's 30 largest banks. Discount Rate (Primary): 0.50% (effective 12/16/08). Call Money: 2.00% (effective 12/16/08). Commercial Paper: Placed directly by General Electric Capital Corp.: 0.21% 30 to 30 days; n.q.31 to 49 days; n.q.50 to 89 days; n.q.90 to 119 days; n.q.120 to 125 days; n.q.126 to 141 days; n.q.142 to 151 days; n.q.152 to 161 days; n.q.162 to 270 days. Euro Commercial Paper: Placed directly by General Electric Capital Corp.: 0.36% 30 days; 0.56% two months; 0.75% three months; 0.83% four months; 0.90% five months; 0.98% six months. Dealer Commercial Paper: High-grade unsecured notes sold through dealers by major corporations: 0.35% 30 days; 0.40% 60 days; 0.45% 90 days. Certificates of Deposit: 0.35% one month; 0.45% three months; 0.80% six months. Bankers Acceptances: 0.40% 30 days; 0.48% 60 days; 0.55% 90 days; 0.55% 120 days; 0.75% 150 days; 0.85% 180 days. Source: Tullett Prebon Information, Ltd. Eurodollars: 0.65% - 0.25% one month; 0.75% - 0.35% two months; 1.00% - 0.40% three months; 1.00% - 0.40% four months; 1.15% - 0.45% five months; 1.25% - 0.55% six months. Source: Tullett Prebon Information, Ltd. London Interbank Offered Rates (Libor): 0.30188% one month; 0.54813% three months; 1.03125% six months; 1.51375% one year. Effective rate for contracts entered into two days from date appearing at top of this column. Euro Libor: 0.66000% one month; 1.03625% three months; 1.26500% six months; 1.45375% one year. Effective rate for contracts entered into two days from date appearing at top of this column. Euro Interbank Offered Rates (Euribor): 0.684% one month; 1.048% three months; 1.268% six months; 1.456% one year. Source: Reuters. Foreign Prime Rates: Canada 2.25%; European Central Bank 1.00%; Japan 1.475%; Switzerland 0.51%; Britain 0.50%. Treasury Bills: Results of the Monday, July 6, 2009, auction of short-term U.S. government bills, sold at a discount from face value in units of $1,000 to $1 million: 0.190% 13 weeks; 0.285% 26 weeks. Tuesday, June 30, 2009 auction: 0.160% 4 weeks. Overnight Repurchase Rate: 0.23%. Source: Garban Intercapital. Freddie Mac: Posted yields on 30-year mortgage commitments. Delivery within 30 days 4.95%, 60 days 5.05%, standard conventional fixed-rate mortgages: 2.50%, 2% rate capped one-year adjustable rate mortgages. Fannie Mae: Posted yields on 30 year mortgage commitments (priced at par) for delivery within 30 days 4.932%, 60 days 5.027%, standard conventional fixed-rate mortgages. Merrill Lynch Ready Assets Trust: 0.05%. Consumer Price Index: May, 213.9, down 1.3% from a year ago. Bureau of Labor Statistics. Federal Funds: 0.313% high, 0.125% low, 0.150% near closing bid, 0.250% offered. Source: Tullett Prebon Information, Ltd. Federal-funds target rate: 0.000% (effective 12/16/08).
Subscribe to:
Posts (Atom)
