Law Blog - WSJ.com (Free subscription) | yesterday
The directors of some money-market funds have a clear message for the SEC: We aren't qualified to act as credit-ratings firms.
Pakistan News (Free subscription) | 28/08/2008
KARACHI:State Bank of Pakistan (SBP) sold 22.35 billion rupees ($294 million) of Treasury bills on Thursday under two-day repo contracts at 9.95 percent to mop up funds from the money market.
The Street (Free subscription) | 27/08/2008
All 10 of these fixed-income mutual funds rated by TheStreet.com Ratings at A+ are tax-free money market funds.
MSNBC.com: Today (Free subscription) | 27/08/2008
Have you backed yourself into a financial corner? TODAY financial editor Jean Chatzky bails readers out with advice on debts, money markets, long-term care insurance and more.
Seeking Alpha (Free subscription) | 26/08/2008
David Enke submits: Money markets are signaling that recent credit problem may be long from over, with possibly the worst yet to come (see Bloomberg article ). As with the end of 2007, interest-rate derivatives are showing hesitation from the markets over fear that credit losses will continue to increase. The premium banks charge for lending short-term cash is near 77 basis points over what traders...
Loan & Finance Blog (Free subscription) | 26/08/2008
Over the past year or so interest rates on mortgage loans have been rocketing in the UK as a result of the global credit crunch, which resulted in lenders hiking up their interest rates on loans due to increased difficulties and expense when it came to getting finance on the wholesale money markets to fund [...]
Globe and Mail (Free subscription) | 26/08/2008
Most of the bond strategists and salesmen that Resolution Investment Management Ltd.'s Stuart Thomson talked to last August expected the credit crunch to be long over by now. Instead, money markets show there's no end in sight, and it may even worsen.
Market Watch (Free subscription) | 25/08/2008
NEW YORK (MarketWatch) - Merrill Lynch analysts have picked Federated Investors Inc. as the top asset manager, according to a report Monday by Reuters. Analysts praised Federated for its money market business and pointed out that money market funds are popular in a tough economic climate. They also highlighted that Federated has "no remaining [structured investment vehicle] issues," said Reuters....
Red State (Free subscription) | 25/08/2008
The LIBOR spread, Fannie and Freddie, Paulson, and Commercial Real Estate Markets will be very, very quiet until next week as everyone finishes up his vacation. Inside the quiet backdrop, there was a lot of weekend chatter about the money markets, which continue to be essentially non-functional after more than a year. It’s impossible to imagine anything that will unfreeze interbank lending, especially...
The Agonist (Free subscription) | 25/08/2008
Just a few interesting headlines of note this morning. Note the discordance, the dissonance, the confusion and contradiction in so many of them: ECB Will Alter Auctions to Prevent Banks `Gaming the System,' Mersch Says Libor Signals Credit Seizing Up as Banks Balk at Lending in Money Markets Dollar Rises on Speculation Decline in Oil to Support U.S. Economic Growth Bernanke, Buiter, Draghi Split on...
ireland.com (Free subscription) | 25/08/2008
The European Central Bank will announce changes to the rules governing its money-market auctions in coming weeks to lead off the risk of abuse by financial institutions, council member Yves Mersch said.
International Herald Tribune (Free subscription) | 25/08/2008
Yves Mersch, a member of the ECB policy council, has said the bank will announce changes to its money-market rules in coming weeks to head off the risk of abuse by financial institutions.
Market Watch (Free subscription) | 25/08/2008
LONDON (MarketWatch) -- The European Central Bank will move in coming weeks to tighten rules regarding its money-market auctions in an effort to prevent abuse by financial institutions, ECB governing council member Yves Mersch said over the weekend, according to Bloomberg News. ECB officials are increasingly worried that banks are gaming the ECB's system of collateral rules, which are broader than...
naked capitalism (Free subscription) | 25/08/2008
While the Fannie/Freddie crisis has come to the fore, the money markets continue to signal heightened worry about risk. Indeed, expert opinion and forward trading suggest that the year end crunch will be worse this year than last. Normally, liquidity starts to fall in December as banks start to square their books; last year, it started in November and became so acute that central banks intervened (the...
Daily News Analysis (Free subscription) | 24/08/2008
The HSBC MIP Savings Plan aims to generate reasonable returns through investments in debt and money market instruments.
