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05 October 2012
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  Top Stories 
  • IIF calls on policy leaders to ease Greece's rescue terms
    Charles Dallara, managing director of the Institute of International Finance, wrote to the International Monetary Fund urging policy leaders to ease terms of Greece's rescue program and take other steps to revive economic growth. "Urgent policy adjustments are needed to avoid the stalling global recovery and address the strong negative spillover effects of national or regional developments on other parts of the world," Dallara wrote. Bloomberg (04 Oct.), The Wall Street Journal/Real Time Economics blog (04 Oct.) LinkedInFacebookTwitterEmail this Story
  • Self-regulation of exchanges needs review, SEC official says
    Daniel Gallagher, a member of the Securities and Exchange Commission, said at an industry conference that a comprehensive review of markets is needed. He noted that exchanges' self-regulatory aspect, in particular, needs to be assessed. "We are at a crossroads with respect to the status of self-regulation," Gallagher said. "For decades now, we've been building upon a self-regulatory framework premised on circumstances that no longer exist, a framework that permeates every aspect of market structure." Banks and brokerages also are starting to challenge the semi-governing status and legal protection granted to exchanges. Reuters (04 Oct.), Financial Times (tiered subscription model) (04 Oct.), The Wall Street Journal (05 Oct.) LinkedInFacebookTwitterEmail this Story
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  Market Activity 
  • Positive U.S. news boosts Asian-Pacific markets
    Asian-Pacific markets were up Friday amid positive U.S. economic data. Hong Kong's Hang Seng Index rose 0.5%. South Korea's Kospi was up 0.1%. Australia's S&P/ASX 200 gained 0.9%. Japan's Nikkei 225 rose 0.4%. Mainland Chinese markets remained closed for a holiday. The Wall Street Journal (05 Oct.) LinkedInFacebookTwitterEmail this Story
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  • IMF economist projects only a drawn-out global recovery
    Global economic recovery from the 2008 meltdown is likely to take a full decade, projects Olivier Blanchard, the International Monetary Fund's chief economist. Among the roadblocks to faster healing are a sluggish Chinese economy, the eurozone crisis and debt-hobbled economies in the U.S. and Japan. "It's not yet a lost decade, but it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape," Blanchard said. The Guardian (London) (03 Oct.), The Telegraph (London) (03 Oct.) LinkedInFacebookTwitterEmail this Story
  • Bank of England steers a steady course, for now
    Although the Bank of England made no changes in interest rate or quantitative easing Thursday, economists believe there's a somewhat better-than-even chance that further action will come later in the year. The bank will weigh signs of growth and indications of inflation, which has been easing more slowly than expected. The Telegraph (London) (04 Oct.) LinkedInFacebookTwitterEmail this Story
  • Analysis: Obama and Romney avoided some major economic issues
    In their first presidential debate, President Barack Obama and Republican challenger Mitt Romney largely ignored some major challenges facing the U.S. economy. Little attention was paid to the eurozone debt crisis, the "fiscal cliff" or housing trouble. The lack of attention suggests policy changes to alter the trajectory of the economy won't be made swiftly no matter who is in the White House, according to this analysis. The Wall Street Journal/Real Time Economics blog (04 Oct.) LinkedInFacebookTwitterEmail this Story
  • Stats agency reports stagnation for French economy
    Insee, France's statistics agency, said the country's economy is stagnating and that the eurozone economy likely contracted in the third quarter, putting it in recession. If France is to meet its growth target, the economy must start expanding rapidly, Insee said. "The business climate remains morose, both in industry and services," Insee economist Jean-Francois Ouvrard said. "Investment has been losing momentum since last year and will drop off toward the end of the year." Bloomberg (04 Oct.), The Wall Street Journal/Dow Jones Newswires (04 Oct.) LinkedInFacebookTwitterEmail this Story
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  • Market players are upset European Parliament is bowing to exchanges
    Market participants say European Parliament members are risking upending efforts to create a single competitive market by eliminating derivatives from interoperability, which exchanges want. "Exchanges should not have the weight of lobby that they have. In Europe, it appears as though people still believe exchanges are representing the interests of the market, as opposed to their shareholders," Market Structure Partners Managing Director Niki Beattie said. "There are difficulties in establishing interoperability for derivatives, but it is possible to find other solutions." The Trade News (U.K.) (04 Oct.) LinkedInFacebookTwitterEmail this Story
  • CFTC faces battle over registration of investment funds
    The Commodity Futures Trading Commission will be back in court Friday as it continues to defend reform. Two industry groups are suing the CFTC to block a rule requiring investment funds to register with the agency. The groups say the rule duplicates one from the Securities and Exchange Commission. Reuters (04 Oct.) LinkedInFacebookTwitterEmail this Story
  • CFTC's position-limit setback offers relief and uncertainty
    Consultants say a court order that tossed out a position-limit rule from the Commodity Futures Trading Commission has two ramifications: short-term relief and longer-term uncertainty. The relief is being felt most by the energy sector, which would have had to scramble to comply. The uncertainty derives from litigation that might result. (subscription required) (04 Oct.) LinkedInFacebookTwitterEmail this Story
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