eWallstreeter

U.S. House panel approves spending cuts, assumes more to come

Tue, 21 May 2013 20:46:47 EDT

* Republicans shifting limited funds toward defense, security

REUTERS SUMMIT-Rates and reserve requirement to tame Uruguay's inflation

Tue, 21 May 2013 19:48:34 EDT

MONTEVIDEO, May 21 (Reuters) - Uruguay's main economic problem is high inflation, and policymakers will continue to use interest rates and bank reserve requirements to bring it under control, Vice...

Scandal or not, one SAC investor can't get enough of Steve Cohen

Tue, 21 May 2013 19:00:16 EDT

BOSTON/NEW YORK, May 21 (Reuters) - As federal prosecutors circle Steven A. Cohen's $15 billion hedge fund in a long-running insider trading probe, one financial adviser in Texas is so devoted to the...

BRP prices IPO at C$21.50, top of marketed range

Tue, 21 May 2013 18:30:00 EDT

May 21 (IFR) - That BRP, the former recreational products group of Bombardier, would appeal to investors on its IPO is hardly surprising.

UPDATE 1-Massachusetts to sell $1.1 bln new and refunding GOs

Tue, 21 May 2013 17:44:09 EDT

May 21 (Reuters) - Massachusetts will sell $1.1 billion of new and refunding general obligation bonds on June 4, according to the state's website.

Oklahoma senators embrace disaster aid after opposing Sandy relief bill

Tue, 21 May 2013 17:40:02 EDT

WASHINGTON, May 21 (Reuters) - Amid expressions of horror, grief and resolve over the devastating tornado that smashed into suburban Oklahoma City, many U.S. lawmakers expressed relief on Tuesday...

COLUMN - What Hollande can learn from Queen of Hearts

Tue, 21 May 2013 17:38:38 EDT

NEW YORK, May 21 (Reuters) - French President Francois Hollande's predicament is, oddly enough, akin to one Alice faced in Lewis Carroll's 19th century classic.

CANADA FX DEBT-C$ softer as focus turns to Bernanke testimony

Tue, 21 May 2013 17:27:27 EDT

* C$ at C$1.0268 versus US$ or 97.39 U.S. cents * U.S. dips after comments by Fed officials on Tuesday * Fed chairman Bernanke to speak on Wednesday * Bond prices higher across the curve By Solarina...

Oaktree founders could reap up to $80 million each in stock sale

Tue, 21 May 2013 16:46:11 EDT

NEW YORK, May 21 (Reuters) - Oaktree Capital LLC, the world's largest distressed debt investor, said its two founders could each receive as much as $79.9 million in a secondary offering of its shares...

Miami-Dade lawmakers approve $1.6 bln sewer-lawsuit deal

Tue, 21 May 2013 16:35:10 EDT

* County lawmakers pull back from big sewer bond issuance

Massachusetts will sell $1.1 bln new and refunding GOs in June

Tue, 21 May 2013 16:30:50 EDT

May 21 (Reuters) - Massachusetts will sell $1.1 billion in new and refunding general obligation municipal bonds on June 4, according to the state's website.

GLOBAL MARKETS-Shares end higher as eyes turn to Fed

Tue, 21 May 2013 16:15:52 EDT

* Investors looking for clarity on Fed stimulus program * Dollar index firmer but down from near three-year high * Yen dips after Japanese minister says seeks 'balance' for currency * Commodities...

Pension gaps at not-for-profit U.S. hospitals growing -Moody's

Tue, 21 May 2013 16:05:00 EDT

WASHINGTON, May 21- The pension gap at U.S. not-for-profit hospitals is growing, according to a Moody's Investors Service report released on Tuesday that found the low interest rate environment is contributing to the shortfall.

Fed’s Bullard – Bond Buying Best Policy…The Great Rotation Fallacy…Cat Bond Investors On Alert… and more!

Tue, 21 May 2013 16:02:01 EDT

Today’s Best of The Bond Market

UPDATE 1-Brazil cenbank keeps hawkish tone ahead of rate decision

Tue, 21 May 2013 15:52:29 EDT

BRASILIA, May 21 (Reuters) - Brazil's central bank chief Alexandre Tombini said on Tuesday that policymakers will do whatever is necessary to bring down inflation, maintaining a hawkish tone ahead of...

Telecom Italia denies possible company break-up

Tue, 21 May 2013 15:52:00 EDT

MILAN, May 21 (Reuters) - Telecom Italia denied on Tuesday that a company break-up was under consideration.

Carney agrees with King: Bank of England not a "one-man show"

Tue, 21 May 2013 15:44:06 EDT

* BoE head urged Carney not to import BoC forward guidance

GLOBAL MARKETS-Shares edge higher, S&P 500 at fresh all-time high

Tue, 21 May 2013 15:13:34 EDT

* Investors looking for clarity on Fed stimulus program * Dollar index firmer but down from near three-year high * Yen dips after Japan minister says seeks 'balance' for currency * Commodities fall,...

Brazil cenbank mulling derivatives to curb FX volatility-Tombini

Tue, 21 May 2013 15:03:17 EDT

BRASILIA, May 21 (Reuters) - Brazil's central bank could use derivatives to reduce volatility in the foreign exchange market, central bank President Alexandre Tombini said on Tuesday.

TREASURIES-Prices gain on dovish Fed speakers, yields test support

Tue, 21 May 2013 15:00:27 EDT

* Fund managers buy bonds as 10-yr yields test 2 pct yields

U.S. Treasury's Lew says foreign officials too critical on swaps rules

Tue, 21 May 2013 14:59:30 EDT

WASHINGTON, May 21 (Reuters) - Foreign countries are being too critical and potentially hurting delicate negotiations with U.S. regulators over how broadly they should apply new over-the-counter...

Fed's Dudley and Bullard: One-Two Dovish Punch Fuels Rally

Tue, 21 May 2013 14:54:00 EDT

Dudley-Bullard: one-two dovish punch fuels rally. It's no secret most of the Street has been trying to anticipate the Fed's "tapering" of bond purchases.

UPDATE 1-PayPal to be in all RadioShack stores starting in May

Tue, 21 May 2013 14:12:56 EDT

SAN FRANCISCO, May 21 (Reuters) - PayPal, the online payment operation owned by eBay Inc, announced a new partnership on Tuesday with RadioShack Corp that will introduce PayPal into all of the...

Lower U.S. inflation not yet bothering Fed's Dudley

Tue, 21 May 2013 14:06:49 EDT

NEW YORK, May 21 (Reuters) - New York Federal Reserve President William Dudley said on Tuesday he is not yet concerned about weaker U.S. inflation readings because, importantly, inflation...

UPDATE 1-Canadian PM says growing expenses scandal a distraction

Tue, 21 May 2013 14:03:22 EDT

* Conservatives fear scandal will damages party's reputation

Crest Financial protests Clearwire vote delay, opposes new bid

Tue, 21 May 2013 13:40:21 EDT

May 21 (Reuters) - Major Clearwire Corp shareholder Crest Financial on Tuesday said it was opposed to Sprint Nextel Corp's newly raised bid for the company.

UPDATE 1-Fed's Dudley ties bond buying to impact of US fiscal policy

Tue, 21 May 2013 13:39:06 EDT

NEW YORK, May 21 (Reuters) - The U.S. economy's ability in coming months to weather lower government spending and higher taxes will be key to the Federal Reserve's decision whether to reduce monetary...

Fed's Bullard-don't see case for tapering with inflation so low

Tue, 21 May 2013 13:29:16 EDT

FRANKFURT, May 21 (Reuters) - A top U.S. Federal Reserve official said on Tuesday he could not envisage a good case for tapering the Fed's purchases of bonds at the moment due to the low inflation...

Clearwire Shares Gain, Bonds Steady, After Sprint Raises Bid For Co.

Tue, 21 May 2013 13:19:01 EDT

Clearwire shares advanced this morning, though the company’s bonds are steady at inflated levels, after majority shareholder Sprint Nextel upped the takeover ante in the face of a competing bid by Dish Network. CLWR shares gained roughly 5%, to $3.42, though the company’s 14.75% first-lien bullet notes due 2019 maintained levels just short of 140, according to sources and trade data....

PayPal to be in all RadioShack stores starting this month

Tue, 21 May 2013 13:16:39 EDT

SAN FRANCISCO, May 21 (Reuters) - PayPal, the online payment operation owned by eBay Inc, unveiled a new partnership on Tuesday with RadioShack Corp that will get PayPal into all the electronics...

Chicago-area public pension funding gap rises 16.7 pct in 2011 -report

Tue, 21 May 2013 13:11:30 EDT

CHICAGO, May 21 (Reuters) - The funding gap for 10 Chicago-area public pension systems widened by 16.7 percent to $32 billion in fiscal 2011 from fiscal 2010, heightening the risk of tax increases or...

Fed's Dudley ties bond buying to impact of US fiscal policy

Tue, 21 May 2013 13:03:50 EDT

GLOBAL MARKETS-Shares edge higher but crude oil weakens

Tue, 21 May 2013 12:47:06 EDT

* Investors looking for clarity on Fed stimulus program * Dollar index firmer, but down from near 3-year high * Yen dips after Japanese minister says seeks 'balance' for currency * Commodities fall,...

UPDATE 1-Bank of Canada's Carney says Europe needs big reforms

Tue, 21 May 2013 12:46:08 EDT

* Bank of Canada chief says Europe should learn from Japan

Cat bond investors on alert after Oklahoma twister

Tue, 21 May 2013 12:14:13 EDT

LONDON, May 21 (Reuters) - Investors in niche financial bonds that cover insurers against huge natural disasters are on alert for future events that could force them to pay out after the powerful...

Softbank's Son and His Sprint Puppet Hesse Blink, Raise Bid For Clearwire By Dimes

Tue, 21 May 2013 12:05:43 EDT

Clearly, pun intended, Sprint didn't think it's ridiculous low ball bid for Clearwire was going to fly at the Special Shareholder Meeting scheduled for May 21. So, early today it raised the insulting bid of $2.97 to $3.40. At no time in recent weeks has the share price of Clearwire sold anywhere near the $2.97 because everyone knew the price was ridiculous and DISH had an overbid out there at $3.30. Since Hope Cochran CFO was in NY in late 2011 with a deal book showing the worth of the company and mainly its spectrum at multiples of these current prices, she will have a tough time explaining in court (many lawsuits ongoing) how shareholders should accept $2.97 or now $3.40....

TREASURIES-U.S. 30-year bonds rise after Bullard's remarks

Tue, 21 May 2013 12:04:22 EDT

NEW YORK, May 21 (Reuters) - Prices on U.S. 30-year Treasury bonds turned higher on Tuesday after comments from St. Louis Federal Reserve President James Bullard reduced worries about the U.S....

EURO GOVT-Bunds fall as investors await Fed, auction

Tue, 21 May 2013 11:59:11 EDT

* Bunds fall as investors make room for 10-year Bund sale

UPDATE 1-Fed's Bullard: bond buying best policy when rates near zero

Tue, 21 May 2013 11:54:36 EDT

FRANKFURT, May 21 (Reuters) - Massive asset purchases are the closest thing to normal monetary policy once interest rates get near zero, a senior U.S. Federal Reserve official said on Tuesday,...

TREASURIES-U.S. bond prices flat as traders await Bernanke remarks

Tue, 21 May 2013 11:42:55 EDT

* U.S. Fed purchases $3.31 bln medium-term government debt

Fed's Bullard: bond buying best policy when rates near zero

Tue, 21 May 2013 11:29:57 EDT

FRANKFURT, May 21 (Reuters) - Massive asset purchases are the closest thing to normal monetary policy once interest rates get near zero, a senior U.S. Federal Reserve official said on Tuesday,...

UPDATE 1-Philip Morris to buy out Carlos Slim's stake in Mexican JV

Tue, 21 May 2013 10:55:44 EDT

May 21 (Reuters) - Marlboro maker Philip Morris International Inc said it will buy out billionaire Carlos Slim's Grupo Carso from their Mexican joint venture for about $700 million.

UPDATE 1-Laredo Petroleum exits Anadarko Basin with $438 mln sale

Tue, 21 May 2013 10:52:59 EDT

May 21 (Reuters) - Laredo Petroleum Holdings Inc said it would sell its assets in the Anadarko Basin in Western Oklahoma and Texas to affiliates of EnerVest Ltd for $438 million to raise capital for...

Canada bank regulator says watching housing risk, pleased so far

Tue, 21 May 2013 10:50:46 EDT

TORONTO, May 21 (Reuters) - Canada's top banking regulator said on Tuesday she is focused on the risk Canada's big banks face from low interest rates and real estate lending, but is happy that the...

UPDATE 1-Philip Morris to pay $700 mln to buy out Carlos Slim in Mexico

Tue, 21 May 2013 10:49:27 EDT

May 21 (Reuters) - Tobacco company Philip Morris International Inc said it would buy out its Mexican joint venture partner controlled by billionaire Carlos Slim, for about $700 million.

Canadian PM says growing expenses scandal a distraction

Tue, 21 May 2013 10:38:10 EDT

OTTAWA, May 21 (Reuters) - Canadian Prime Minister Stephen Harper dismissed a mushrooming expenses scandal in the Senate as a distraction on Tuesday and urged his Conservative legislators to focus on...

UPDATE 1-Activist investor wants Alere to explore $2.5 bln unit sale -sources

Tue, 21 May 2013 10:37:38 EDT

NEW YORK, May 21 (Reuters) - An activist investor in Alere Inc wants the health diagnostics and services company to explore a sale of its drug testing business, which it believes could fetch as much...

GLOBAL MARKETS-Shares flat ahead of Bernanke, euro edges lower

Tue, 21 May 2013 10:36:51 EDT

* Shares flat ahead of Bernanke testimony on Wednesday, Home Depot rallies * Dollar index firmer, but down from near 3-year high * Yen dips after Japanese minister says seeks 'balance' for currency...

Constellation Brands – You Buy The Wine, Now Consider Buying The Debt

Tue, 21 May 2013 10:35:30 EDT

Looking for high yield in places you haven't thought of.

EURO GOVT-Bunds fall before Fed and auction on Wednesday

Tue, 21 May 2013 10:11:02 EDT

LONDON, May 21 (Reuters) - Bund futures fell to a session low on Tuesday, with traders citing nervousness before minutes on Wednesday of the latest Federal Reserve meeting and as investors made room...