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03 January 2013
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  Top Stories 
  • Agencies leave U.S. rating unchanged after budget deal
    Major credit rating agencies are leaving the U.S. rating unchanged as they await the outcome of debate regarding raising the debt limit and an effort to reduce borrowing. Standard & Poor's, Moody's Investors Service and Fitch Ratings have warned that the U.S. faces a possible downgrade. S&P stripped the U.S. of its AAA rating after the last debt-ceiling fight in August 2011. CNNMoney (02 Jan.) LinkedInFacebookTwitterEmail this Story
  • Analysts: Budget deal offers little hope for hiring, sales growth
    Uncertainty created by lawmakers' temporary fix for the budget crisis leaves little hope that the U.S. economy will benefit from improved sales, hiring or an influx of investment, business analysts say. The next battle in Congress over raising the debt limit likely will depress consumer and business sentiment for months, they said. The Washington Post (02 Jan.) LinkedInFacebookTwitterEmail this Story
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  Market Activity 
  • CMBS risk rises as delinquency of underlying loans increases
    Commercial mortgage-backed securities have been popular with investors for some time, largely because of their relatively high yields compared with other fixed-income investments, but questions are being raised about whether the pricing reflects the full risk of default. Trepp reported that 9.71% of commercial mortgages underlying CMBS issues were at least 30 days delinquent in November. In October 2008, the delinquency rate was below 1%. The Wall Street Journal (02 Jan.) LinkedInFacebookTwitterEmail this Story
  • Bonds might start losing appeal, experts say
    Strategists don't expect large-scale change in asset allocation this year, but many expect investors to start shifting from fixed-income securities to equities as stocks outperform bonds. However, if U.S. debate about raising the debt limit turns ugly or becomes protracted, investors might return to the relative safety of bonds. CNBC/Market Insider blog (02 Jan.) LinkedInFacebookTwitterEmail this Story
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  • Manufacturing expansion boosts U.S. economic outlook
    U.S. manufacturing activity shifted from moderate contraction in November to modest expansion in December, brightening the outlook for economic growth in 2013. An Institute for Supply Management index rose from a three-year low of 49.5 in November to 50.7 in December, on a scale in which anything higher than 50 indicates growth. Bloomberg (02 Jan.) LinkedInFacebookTwitterEmail this Story
  • China's young adults embrace Western love of credit cards
    Though against tradition, use of consumer credit in China is rapidly increasing, particularly among younger workers, according to an analysis by The Wharton School at the University of Pennsylvania. During the next decade, China is expected to overtake the U.S. and become the biggest credit card market in the world, measured by the number of cards issued. Knowledge@Wharton (02 Jan.) LinkedInFacebookTwitterEmail this Story
  • Analysis: Basel III represents regulatory difficulties
    As governments propped up ailing banks during the past five years, regulating the industry became increasingly more complex. The EU and the U.S. each drafted a 700-page proposal for Basel III rules. In addition, the U.S. created the Dodd-Frank Act, which an industry group says will end up being 2,900 pages of regulations. Bloomberg (02 Jan.) LinkedInFacebookTwitterEmail this Story
  • Sweden wants traders to obey bond-reporting rules
    The Swedish Financial Supervisory Authority says it will start enforcing a requirement that traders report corporate-bond prices. The move is part of an effort to increase transparency in the growing market. Traders must report volume and prices -- highest, lowest and closing -- by 9 a.m. the day after trades are made. Bloomberg (02 Jan.) LinkedInFacebookTwitterEmail this Story
  Financial Products 
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