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November 2, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  • Bloomberg endorses Obama, noting climate-change policy
    New York City Mayor Michael Bloomberg, an Independent but a former Republican, endorsed President Barack Obama for re-election, saying Obama is more likely to deal with climate change. Bloomberg wrote in an editorial for Bloomberg View that he thinks climate change contributed to the ferocity of superstorm Sandy, which caused billions of dollars in damage and killed at least 38 New Yorkers. The New York Times (tiered subscription model) (11/1) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Quiet FX market might soon see action
    Given the time of year and potentially dramatic developments, including the U.S. "fiscal cliff" and Spanish and Greek debt issues, the quiet foreign exchange market could come to life soon, according to Deutsche Bank. Currency strategist George Saravelos expects the euro to soon gain against the U.S. dollar. The Wall Street Journal/MarketBeat blog (11/1) LinkedInFacebookTwitterEmail this Story
  • Sandy provides a lift for corporate bonds
    Corporate bonds came roaring back Thursday after a lull related to Hurricane Sandy, with at least nine borrowers aiming for an expected $7.6 billion. Before the storm, bankers were anticipating $30 billion in deals this week. Among Thursday's participants were the Bank of Montreal, BP, Caterpillar and General Dynamics. The Wall Street Journal/Dow Jones Newswires (11/1) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  • Midsized banks part company with Wall Street's lobbying
    The nation's midsized banks have largely let Wall Street's lobbyists speak for them in Washington in the past, but now that is changing. Lobbyists and executives for regional banks say they shouldn't be placed under the same rules as the big Wall Street banks because their activities are much less risky. Bloomberg (11/2) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • Business groups clash over response to "fiscal cliff"
    Major business groups are taking opposing positions on what actions Congress should take to avert the "fiscal cliff" Jan. 1. The Tax Relief Coalition wants spending cuts to be the principal tool in reducing the deficit. Another business organization is calling for a combination of spending cuts and tax increases. The Washington Post/Wonkblog (11/1) LinkedInFacebookTwitterEmail this Story
  • U.S. employment picture brightens
    In October, U.S. private-sector employers added the most workers in eight months, according to the ADP Research Institute. Meanwhile, the Labor Department said first-time jobless claims decreased 9,000 last week, to 363,000, the smallest total in three weeks. Economists surveyed by Bloomberg had expected 370,000. Bloomberg (11/1), Bloomberg (11/1) LinkedInFacebookTwitterEmail this Story
  Financial Products 
Thinking is the enemy of creativity. It's self-conscious, and anything self-conscious is lousy. You can't try to do things. You simply must do things."
--Ray Bradbury,
American writer

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