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15 October 2012
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  Top Stories 
  • Consumer optimism in U.S. rises to 5-year high
    Catching experts off guard, consumer sentiment in the U.S. rose to a five-year high this month, indicating greater optimism than at any time since before the recession, according to the Thomson Reuters/University of Michigan index. The benchmark's reading increased from 78.3 in September to a preliminary 83.1 for October. Reuters (12 Oct.), Bloomberg (12 Oct.), The Wall Street Examiner (12 Oct.) LinkedInFacebookTwitterEmail this Story
  • IMF calls on U.S. and Europe to deal decisively with debt
    The U.S., Europe and other developed economies must move quickly to cope with debt problems to bolster deteriorating confidence in the shaky global economy, the International Monetary Fund said at the conclusion of a meeting of global financial leaders in Tokyo. Debt crises in developed countries are depressing the economies of developing countries, according to the closing communiqué. The New York Times (tiered subscription model) (13 Oct.) LinkedInFacebookTwitterEmail this Story
  • Softbank will pay $20B for 70% ownership of Sprint
    Japan's Softbank will acquire a 70% stake in U.S. wireless operator Sprint for about $20 billion, the leaders of both companies said. Softbank will buy $8 billion worth of shares from Sprint at $5.25 a share and offer to buy $12 billion worth from investors at $7.30 a share. CNBC (15 Oct.), Reuters (15 Oct.) LinkedInFacebookTwitterEmail this Story
  • CME looks to launch European bourse with 30 FX products
    CME Group filed an application with the U.K. Financial Services Authority to open a European exchange in 2013. The plan is to initially offer 30 foreign exchange futures products. The Office of Fair Trading said it expects "to focus on the CME's rules on participation criteria and the arrangements for clearing and settlement of trades." Financial Times (tiered subscription model) (12 Oct.), Reuters (12 Oct.) LinkedInFacebookTwitterEmail this Story
 Morningstar Direct White Paper in CFA Institute Selections Newsletter
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  Market Activity 
  • Most Asian-Pacific markets slide after release of mixed Chinese data
    Most Asian-Pacific markets fell Monday after positive and negative data from China left investors without a clear picture of where its economy is headed. China's Shanghai Composite fell 0.3%. South Korea's Kospi gave up 0.4%. Australia's S&P/200 edged down 0.1%. Hong Kong's Hang Seng Index rose 0.1%. Japan's Nikkei 225 gained 0.5%. MarketWatch (15 Oct.) LinkedInFacebookTwitterEmail this Story

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  • Analysis: Prospects for U.S. economy truly have improved
    Despite skepticism from conspiracy theorists, data showing significant improvement in the U.S. labor market are real, according to The Economist. "Although the drop in the unemployment rate was surprisingly sharp, there is no obvious reason for it to reverse," the magazine notes. "The [Bureau of Labor Statistics] actually revised up its payroll employment figures for July and August to more robust levels, and in September found people working longer hours at higher pay." The Economist (13 Oct.) LinkedInFacebookTwitterEmail this Story
  • Financial advisers see soaring client interest in annuities
    Financial advisers are getting more questions from clients about annuities than any other financial product, according to Cerulli Associates. The interest is a big change from last year, when annuities were the sixth-most-asked-about product, the researcher said. InvestmentNews (free registration) (12 Oct.) LinkedInFacebookTwitterEmail this Story
Watch the European Investment Conference live wherever you are
On 18 October watch Anatole Kaletsky tackle ‘Europe’s Economy and the Way Forward’, then hear German eurosceptic Markus Kerber take on French academic Catherine Lubochinsky to debate ‘The Future of the Euro’. On 19 October Nobel Laureate Robert Merton will discuss a new approach to macrofinancial risk.
  • CFTC delays implementation of some swaps rules
    The Commodity Futures Trading Commission announced delays, extensions and exemptions for implementation of swaps-market rules. Among those relieved of pressure to act quickly are foreign entities, including overseas branches of U.S. banks, which won't need to begin tallying swaps until perhaps year-end. Bloomberg (12 Oct.) LinkedInFacebookTwitterEmail this Story
  • EU could launch financial-transaction tax soon, Barnier says
    A tax on financial transactions pushed by France and Germany and backed by 11 EU nations could be in final form by year-end and in place sometime next year, EU Internal Market Commissioner Michel Barnier said. "If there is the political will, the courage and the determination to do it, this tax could start in 2013," Barnier said. Reuters (12 Oct.) LinkedInFacebookTwitterEmail this Story
  • EU reportedly might delay Basel III as long as a year
    Implementation of Basel III rules might be delayed as long as a year in Europe amid concerns that early implementation will raise costs, sources said. "A delay would give more oxygen to banks to solve their capital problems," said Marco Elser, a partner at investment bank Advicorp. "The oxygen is the time, which will give banks more options." Bloomberg (12 Oct.) LinkedInFacebookTwitterEmail this Story
  • PBOC aims to optimize liquidity in financial system, official says
    The People's Bank of China is striving to improve macroprudential rules to rein in systemic risk and is focusing more on price-based tools for managing monetary policy, said Wang Huaqing, secretary of discipline at the central bank. Wang said the PBOC is using multiple instruments to improve liquidity. Reuters (15 Oct.) LinkedInFacebookTwitterEmail this Story
New Thinking in Taxable Asset Allocation
Niall J. Gannon and Robert N. Gordon

Join us for a live broadcast from the Asset Allocation for Private Clients Conference on 17 October 2012 at 1:30 p.m. ET
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