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Last Update @ 12:48 PM EST  05/09/08

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Bonds

Banks accused of rigging municipal bond rates Charlotte Observer / Christina Rexrode

UBS's Exit Strikes at Heart of Municipal-Bond Market Bloomberg / Joe Mysak

Treasuries Rise, Head for Weekly Gain, as Asian Stocks Decline Bloomberg / Wes Goodman

Standard & Poor's Creates Three New Executive Roles Bloomberg / Christine Richard

Bonds rally on refunding cash, 30-year auction Reuters / John Parry

Muni Bonds Make Sense Without the Insurance Bloomberg / Jane Bryant Quinn

Treasurys extend rally as investors seek safe haven bets AP via Houston Chronicle / Joe Bel Bruno

30-Year Treasuries Little Changed Before $6 Billion Auction Bloomberg / Dan Kruger

By Year's End, Junk Will Be Sunk CFO.com / Stephen Taub

Will taxpayers be on the hook for subprime crisis? Christian Science Monitor / Mark Trumbull

Treasuries Little Changed Before $6 Billion 30-Year Bond Sale Bloomberg / Wes Goodman

Moody’s President Will Step Down at End of July Reuters / NY Times

U.S. Subprime Loan Crisis and Japanese Credit Markets Pimco / Koyo Ozeki

Treasuries Rise After Biggest 10-Year Note Auction Since 2004 Bloomberg / Daniel Kruger

New York Agency Leads Muni Sales as Borrowers Fund New Projects Bloomberg / Jeremy R. Cooke

Review and Preview Morgan Stanley / Ted Wieseman

Bonds rise as Fannie results renew credit fears Reuters / Richard Leong

Brazil: Investment Grade, Why Worry? Morgan Stanley / Marcelo Carvalho

Fannie Mae Has Loss, Cuts Dividend, to Raise Capital Bloomberg / Dawn Kopecki and Jody Shenn

SEC's New Bond Case Says Swaps Aren't Outside Law Bloomberg / Joe Mysak

Dealers Pare Treasuries, Signaling Fed Turning Point Bloomberg / Daniel Kruger

Greenspan's Conundrum Bites Back Bullion Vault via Safehaven / Adrian Ash

Treasury prices sink as prospect for more Fed rate cuts dim AP via Houston Chronicle / Joe Bel Bruno

Bank of America May Not Guarantee Countrywide's Debt Bloomberg / David Mildenberg

Credit derivatives clearing house moves closer Reuters

Auction Pain Ebbs; Refinancings, Buybacks Lower Rates Bloomberg / Jeremy R. Cooke

U.S. Offers 0% for First Time on Inflation-Linked Savings Bonds Bloomberg / Vincent Del Giudice

S&P Stops Rating Some Mortgage Bonds for First Time Bloomberg / Jody Shenn

Dumbest Idea Ever' Used as Pensions Plug Deficits Bloomberg / Michael McDonald and Adam L. Cataldo

Securities investors say they were misled Houston Chronicle / R.G. Ratcliffe

FDIC Policy Statement on Covered Bonds FDIC

 

 

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Federal Reserve

Financial Market Tremors: Causes and Responses Federal Reserve Bank of Dallas / Richard W. Fisher

U.S. Monetary Authorities Did Not Intervene in FX Markets during the First Quarter Federal Reserve Bank of New York

N.Y. Libor alternate tries to avoid London's pitfalls Marketwatch / Laura Mandaro

The Bernanke Conundrum Collection Agency via Safehaven / Mick P

Naturally Below Neutral Morgan Stanley / Joachim Fels and Manoj Pradhan

"Monetary Policy, Financial Markets and Regulatory Reform: A Desperately Unpopular Undertaking," pdf Federal Reserve Bank of Kansas City / Thomas M. Hoenig

Americans skeptical of Fed CNN / Ben Rooney

Monetary Policy, Financial Markets and Regulatory Reform pdf Federal Reserve Bank of Kansas City / Thomas Hoenig

Bernanke gives green light to Frank foreclosure bill Marketwatch / Greg Robb

Mortgage Delinquencies and Foreclosures Federal Reserve Board / Ben S. Bernanke

Bernanke Urges Government, Companies to Avert More Foreclosures Bloomberg / Scott Lanman and Alison Vekshin

Fed Survey Shows More U.S. Banks Tighten Loan Terms Bloomberg / Scott Lanman

Federal Reserve will offer $75 billion in 28-day credit through its Term Auction Facility Federal Reserve Board

Bernanke Gets It Wrong Safehaven / Gerard Jackson

Siegfried & Roy & Bernanke Lew Rockwell / Gary North

Fed Moves to Loosen Tight Credit NY Times / Steven R. Weisman

Ben Bernanke is No Paul Volcker Euro Pacific via Safehaven / Peter Schiff

Fed likely to prefer lending over interest-rate cuts AP via Houston Chronicle / Dan Seymour

Fed move helped put floor under dollar for now Marketwatch / Lisa Twaronite

Federal Reserve, European Central Bank, and Swiss National Bank announce an expansion of liquidity measures Federal Reserve Board

Fed Raises Cash-Loan Auctions by 50% to $75 Billion Bloomberg / Scott Lanman

Bernanke-Geithner `Rogue Operation' Spurs Further Bailout Calls Bloomberg / Craig Torres

Asia Getting Fed Up With Bernanke's Rate Cuts Bloomberg / William Pesek

Bernanke's bind The Economist

Second-Guessing the Fed Bullion Vault via Safehaven / Adrian Ash

Fed is Running out of room to help economy NY Post / John Crudele

Fed Has Bought Enough Anti-Recession Insurance Bloomberg / John M. Berry

Fed May Take Breather After Seven Rate Cuts, Emergency Loans Bloomberg / Scott Lanman

Will the Fed's Rollercoaster Ride Save the Dollar? Delta Global Advisors via Safehaven / Michael Pento

Stop Begging Ben for Help Cooking Banks' Books Bloomberg / Jonathan Weil

Fed Faces Tricky Monetary-Policy Pickle Smartmoney.com / Paulette Miniter

The Fed Moves Towards Balanced Risks Morgan Stanley / Richard Berner and David Greenlaw

FOMC Statement Federal Reserve Board

Fed Trims Rate to 2%, Signals Ready to Consider Pause Bloomberg / Craig Torres

Fed lowers rates, hints cuts may be at end Reuters / Mark Felsenthal

Why the Fed's not done cutting rates Fortune via CNN

Fed Decision on Key Rate Presents Risks Either Way Washington Post / Neil Irwin

Federal Reserve May Want Inflation Merk Hard Currency via Safehaven / Axel Merk

Bernanke's Character Test: Pre Fed Meeting Jitters, Indeflation, and a Prediction Safehaven / M.A. Nystrom

The Fed, the Recession, and Ancient Pompeii Daily Reckoning via Lew Rockwell / Bill Bonner

Federal Reserve to propose credit card lender limits Chicago Tribune

Bernanke's big problem: Band Aids now or later? Stocktiming.com / Marty Chenard

Bernanke Urged to Do More to Ease Bank Funding Costs Bloomberg / Scott Lanman

US Economy

Mother's Day spending may be down in slower economy AP via South Florida Sun Sentinel / Lisa Cornwell

Barely surviving on credit cards CNN / Tami Luhby

Trade gap narrows in March CNN

What Bear Market? What Recession? Marketwatch / Howard Gold

U.S. Trade Deficit Probably Narrowed in March on Export Gain Bloomberg / Bob Willis

Shoppers go after bargains in April Reuters / Justin Grant

New unemployment filings decline CNN / Catherine Clifford

U.S. Consumer Debt Rises More Than Forecast in March Bloomberg / Vincent Del Giudice

Productivity rises more than expected AP via CNN

Single mothers feel pinch of the economy Miami Herald / Cindy Krischer

The risk of redefining recession CNN / Lakshman Achuthan and Anirvan Banerji

Did Fed rate cuts help boost food prices? Marketwatch / Greg Robb

The risk of redefining recession CNN / Lakshman Achuthan and Anirvan Banerji

U.S. factory growth seen "marginal" in 2008 – ISM Reuters

It's a recession to 4 out of 5 Americans CNN / Catherine Clifford

U.S. April Business Bankruptcy Filings Rise Almost 50% on Year Bloomberg / Bill Rochelle and Bob Willis

Keep the champagne on ice, economists warn Marketwatch / Greg Robb

Greenspan Says `Pale Recession' May Last Through Year Bloomberg / Rich Miller

What Uncle Sam Gives in Rebates, OPEC Takes, Stalling Economy Bloomberg / Matthew Benjamin and Rich Mille

U.S. Economy: ISM Services Index Unexpectedly Climbed in April Bloomberg / Shobhana Chandra

Debt on Arrival NY Post / Richard Wilner

Economic Pessimism Continues Gallup Daily

Food, fuel costs climb, and key inflation measure drops Chicago Tribune / Greg Burns

Signs of a recession are starting to blur St. Louis Post dispatch / David Nicklaus

Credit squeeze still constricting economy Marketwatch / Rex Nutting

Services May Have Cooled, Home Sales Fell: U.S. Economy Preview Bloomberg / Shobhana Chandra

Americans: It's still the economy, stupid CNN / David Goldman

The Inflation Conundrum Morgan Stanley / Joachim Fels and Manoj Pradhan

U.S. Loses 20,000 Jobs in April; Unemployment at 5% Bloomberg / Courtney Schlisserman

Job cuts in April less severe than feared Reuters / Glenn Somerville

Grocery costs test shoppers' creativity Chicago Tribune / Deanese Williams-Harris and Mary Ellen Podmolik

Why Consumers Should Cheer if the Fed Stops Cutting Rates US News & World Report / Rick Newman, Kimberly Palmer and James Pethokoukis

Payrolls expected to decline for 4th straight month Marketwatch / Rex Nutting

Sentiment has improved, but lots of financial problems remain The Economist

Jobless claims jump but consumer spending up Reuters / Alister Bull

Consumer spending up but much of gain reflects higher prices AP via Washington Post / Martin Crutsinger

U.S. Unemployment Benefit Rolls Climb to 4-Year High Bloomberg / Courtney Schlisserman

Personal income slips, but spending jumps CNN / Catherine Clifford

ISM Factory Index in U.S. Probably Contracted for Third Month Bloomberg / Bob Willis

Unstoppable Credit Contraction Mish’s Global Economic Trend Analysis via Safehaven / Mike Shedlock

A new worry: The cost of electricity Allentown Morning Call

Does the Consumer Truly Believe? Collection Agency via Safehaven / Mick P

Low Spending Is Taking Toll on Economy NY Times / Peter S. Goodman

Technically, No Recession (Feel Better?) Forbes / Joshua Zumbrun

Real Estate & Mortgage

IL: Illinois home sales drop 27% in first quarter Chicago Tribune / James P. Miller

Investors should foreclose on troubled lender Fannie Mae Marketwatch / Chuck Jaffe

Housing inventory rises again in April CNN / Les Christie

Rates on 30-year mortgages edge down slightly AP via Chicago Tribune / Martin Crutsinger

10 markets set for steep losses CNN

Pending Sales of Existing Homes in U.S. Decreased 1% Bloomberg / Shobhana Chandra

Monetary Policy, Financial Markets and Regulatory Reform pdf Federal Reserve Bank of Kansas City / Thomas Hoenig

U.S. MBA's Mortgage Applications Index Rose 15.6% Last Week Bloomberg / Courtney Schlisserman

FL: Dade home prices, rents out of reach for most Miami Herald / Scott Andron

Pending Sales of Existing Homes in U.S. Decreased 1% in March Bloomberg Shobhana Chandra

Hidden Mortgage Risks Abound in U.S. Home Market Bloomberg / John F. Wasik

How low will real estate go? Forbes via LA Times / Matt Woolsey

ResCap Says It May Not Be Able to Meet Debt Obligations in June Bloomberg / Caroline Salas

U.S. moves to insulate appraisers from pressure to cook the numbers San Diego Union Tribune / Emmet Pierce

Under pressure from South Florida homeowners, House to act on mortgage crisis South Florida Sun Sentinel / William E. Gibson

House sitting -- on a grand scale LA Times / Frank Nelson

The Case for a Newer Deal NY Times / Alan S. Blinder

Mortgage Survivors Washington Post / Nancy Trejos

It’s Newer Homes That Stand Empty as Vacancies Rise NY Times / Floyd Norris

The Condo Owner's Dilemma Washington Post / Renae Merle

Mortgage-Free, but Not Free From the Temptation to Borrow NY Times / Jane Birnbaum

US 30-year mortgage rates rise in latest week Reuters

Brokers in the Fast-and-Loose Lane? Run Their Licenses Washington Post / Michelle Singletary

Home Ownership Preservation Loans FDIC

Mortgage Applications Decrease In Latest MBA Weekly Survey Mortgage Bankers Association

The Road to a Jumbo Mortgage Was Supposed to Get Easier NY Times / Matt Richtel

No Assets? No Problem Forbes / Maurna Desmond

More Subprime, Alt-A Mortgages May Head `Underwater' Bloomberg / Jody Shenn

 

 

Currencies

Korean Won Heads for Biggest Loss in Two Months; Bonds Decline Bloomberg / Aaron Pan and Kim Kyoungwha

Yen Heads for Weekly Advance as Stock Declines Sap Carry Trade Bloomberg / Kosuke Goto

Australian Dollar Heads for Weekly Advance: New Zealand's Drops Bloomberg / Chris Young

Euro Falls to Eight-Week Low Against Dollar Before ECB Meeting Bloomberg / Stanley White

Dollar Rises After Hoenig Says Inflation May Spur Rate Increase Bloomberg / Bo Nielsen and Anchalee Worrachate

Four Fall-Lines of Dominos: An Ordinal Ranking Morgan Stanley / Stephen Jen and Luca Bindelli

Dollar Smirks in Asia Morgan Stanley / Stephen Jen & Charles St-Arnaud

Dollar Declines as Bernanke Signals Growth to Slow on Housing Bloomberg / Stanley White

Euro May Extend Gain on Bets ECB to Hold Rate at Six-Year High Bloomberg / Bo Nielsen

Buffett’s Thumbs Down on The Dollar NY Post / Richard Wilner

Dollar Reserve Status Is Tale of Fading Glory Bloomberg / Michael R. Sesit

Dollar Rises to 5-Week High as Job Losses Lower Than Forecast Bloomberg / Ye Xie

ECB Sketches a Line in Currency Sands at $1.60 Bloomberg / Mark Gilbert

Dollar Declines Versus Yen, Euro Before Manufacturing, Job Data Bloomberg / Kosuke Goto

Iran stops using U.S. dollar in oil transactions Globe and Mail / Ali Akbar Dareini

 

 

 

 

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Commodities

Gold pulls back, but still trades higher for the week Marketwatch / Polya Lesova and Myra P. Saefong

U.S. crude futures jump more than $2, above $126 Reuters

High Prices for Staple Foods Dip, but Volatile Markets Persist NY Times / Keith Bradsher

Corn stockpiles seen down 47% next year; wheat stocks expected to jump Marketwatch / Moming Zhou

Another record closing price for crude AP via Houston Chronicle

Why $120 oil is good CNN / Steve Hargreaves

Ethanol Fantasy Fuels a Food-Price Nightmare Bloomberg / John M. Berry

Oil Trades Near Record on Signs U.S. Economy May Spur Demand Bloomberg / Christian Schmollinger

The $200 barrel of oil? The Economist

Gold, silver futures slump after dollar gains; oil hits $123 AP via Contra costa Times / Stevenson Jacobs

Oil hits record despite supply growth CNN / Catherine Clifford

Oil price 'may hit $200 a barrel' BBC News

Fertilizer prices more than double Tennessean / Wendy Lee

Gas Prices Expected to Peak in June NY Times / Jad Mouawad

Oil steady above $122 a barrel after record AP via Houston Chronicle / George Jahn

Proposals to reform Mexico's oil industry are stalled The Economist

"Super-spike" could lift oil to $200: Goldman Reuters

Oil sets new record high of $122 a barrel Reuters / Jane Merriman

Grease bandits strike as biofuel demand rises Christian Science Monitor / Ben Arnoldy

Oil holds above $120 a barrel on supply worries AP via Detroit News / Gillian Wong

Metals Surge as Rationing Cuts Power at Biggest Mines Bloomberg / Saijel Kishan and Gavin Evans

Oil prices will come down Marketwatch / Dr. Irwin Kellner

Crude Oil Rises on Concern Attacks in Nigeria May Reduce Supply Bloomberg / Robert Tuttle

Oil passes $120 a barrel on supply threats, dollar AP via Houston Chronicle / John Wilen

Speculators may be driving prices higher but demand for crude is also growing Miami Herald / John Porretto

Levy is needed on oil profit windfalls LA Times / David Lazarus

$4 a gallon? For many, it's not a gas Pittsburgh Tribune Review / Bill Toland

Gas prices not hurtful enough yet San Antonio Express News / David Hendricks

Oil Rises More Than $3, Most in a Month, on U.S. Jobs Report Bloomberg / Mark Shenk

Chevron's 1Q profit of $5.17B marks Big Oil's latest gusher AP via San Francisco Chronicle / Michael Liedtke

Gold futures end higher for the day, lower for the week Marketwatch / Myra P. Saefong

Big Oil's widening profit gap Marketwatch

Strange Behavior Forbes / Christopher Helman

What has driven up oil prices Christian Science Monitor / Peter Grier

Oil Falls as Dollar Gain Causes Investors to Sell Commodities Bloomberg / Christian Schmollinger

Why gas refiners aren't benefiting from high prices at the pumps Globe and Mail / Norval Scott

When supply chains go wrong The Economist

Crude falls for third day as the dollar strengthens Marketwatch / Moming Zhou & Polya Lesova

U.S. gas: So cheap it hurts CNN / Steve Hargreaves

Commodities, Oil Services may have room left despite Fed's policy shift Marketwatch / Michael Ashbaugh

Siphoning Off Corn to Fuel Our Cars Washington Post / Steven Mufson

Peak Oil Panic Daily Standard / Irwin M. Stelzer

Oil Rises for First Time in Three Days on Nigerian Disruptions Bloomberg / Christian Schmollinger

U.S. Governments and Politics

39 Republicans Join Democrats As Mortgage Bill Passes House Washington Post / Lori Montgomery

Clinton now closer to endgame Christian Science Monitor / Linda Feldmann and Ariel sabar

Housing-rescue bill: 'Something for everyone' CNN / Jeanne Sahadi

In Obama's grasp The Economist

Clinton ekes out Indiana win as Obama takes N.C. Marketwatch

Stimulus Impact May Be Short-Lived NY Sun / Liz Peek

Taxing oil profits: Proceed with caution CNN / Steve Hargreaves

Obama, Clinton Make Final Pitch for Votes Before Primaries Bloomberg / Julianna Goldman and Lorraine Woellert

Clinton Leads Obama in New Nationwide Poll, USA Today Reports Bloomberg / Nadine Elsibai

Late returns accepted to receive stimulus rebate Chicago Tribune / Harriet Johnson Brackey

For Democrats, Instincts Differ on Economics NY Times / David Leonhardt

Bush Says Americans Face a `Tough Economic Period' Bloomberg / Holly Rosenkrantz

Bush says economy is going to 'come on' AP via San Diego Union Tribune / Ben Feller

Bill Clinton avoids spotlight in Hillary's campaign Reuters / Matthew Bigg

Bush Says Pain From Economy Defies Easy Fix NY Times / Sheryl Gay Stolberg and David M. Herszenhorn

Dave Barry Explains the Tax Rebate Lew Rockwell / Gary North

Tax rebates: How big a boost? Christian Science Monitor / Peter Grier

 

 

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