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29 January 2013
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  • U.S. employers praise push for immigration reform
    An initiative in Congress to overhaul U.S. immigration laws is drawing praise from employers, many of whom say the current system is broken and an obstacle to hiring. Microsoft's general counsel said he is "encouraged by the momentum" for immigration reform. National Council of Farmer Cooperatives President and CEO Charles Conner said the push is the best opportunity "in a generation" to solve farmers' immigration law problems. Reuters (28 Jan.), The Washington Post (28 Jan.), RealClearPolitics (29 Jan.) LinkedInFacebookTwitterEmail this Story
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  • Are the fiscal- and monetary-policy initiatives being undertaken by Japan's new government likely to lead the country out of the deflationary and slow-growth environment that has persisted for the past two decades?

  Market Activity 
  • Most Asian-Pacific markets advance, but Hong Kong slides
    Most Asian-Pacific markets rose Tuesday but Hong Kong declined as Goldman Sachs Group sold part of its stake in the Industrial and Commercial Bank of China, raising about $1 billion. Japan's Nikkei 225 gained 0.4%. South Korea's Kospi moved up 0.8%. Australia's S&P/ASX 200 and Taiwan's Taiex each rose 1.1%. China's Shanghai Composite gained 0.5%. Hong Kong's Hang Seng Index slid 0.1%. India's Sensex was down 0.6% at midafternoon. MarketWatch (29 Jan.), The Economic Times (India) (04 Feb.) LinkedInFacebookTwitterEmail this Story
  • Sale of structured notes linked to yuan hits record
    Since December, individual investors in the U.S. have bought a record $79.9 million of structured notes that fluctuate in value with the offshore exchange rate for China's renminbi, according to data compiled by Bloomberg. Most analysts expect the yuan to gain about 2% in value by the end of this year. Bloomberg (28 Jan.) LinkedInFacebookTwitterEmail this Story
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  • Analysis: U.S. avoidance of austerity pays off
    "A big part of why the U.S. economy is doing better than Europe's is precisely because we did not switch to rapid austerity," said Christina Romer, a former economic adviser to President Barack Obama. The best way to cut the deficit is to limit long-term growth of entitlements, rather than imposing spending cuts that reduce immediate growth, she says. "That is a trade-off which both Mr Obama and the Republicans would be wise to make," according to The Economist. The Economist (tiered subscription model) (26 Jan.) LinkedInFacebookTwitterEmail this Story
  • M&A climbed in 2012 among registered investment advisers
    Big, national advisers' acquisition of independent registered investment advisers accelerated last year, according to Schwab Advisor Services. Assets under management of RIAs involved in mergers and acquisitions reached $58.8 billion, compared with $43.9 billion in 2011. AdvisorOne (28 Jan.) LinkedInFacebookTwitterEmail this Story
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  • Analysts expect Spain to end ban on short selling
    The Spanish National Securities Market Commission is poised to announce by Friday whether it will extend a ban on short sales of stocks and bonds. Analysts say the ban likely will end because sentiment on Spain has improved. "They have no reason anymore to maintain this ban," said Ivan San Felix, an analyst at brokerage Renta 4. "The debt risk premium is less volatile, and that may be the right time." Reuters (28 Jan.) LinkedInFacebookTwitterEmail this Story
  • Germany postpones decision on changing HFT draft law
    A source from German Chancellor Angela Merkel's party says a decision on legislation to rein in high-frequency trading has been delayed. "We still need to clarify lots of technical details," the source said. "That is why we need to have a second meeting." Among proposed changes are registration with market regulators and disclosure of algorithms by high-frequency traders. Reuters (28 Jan.) LinkedInFacebookTwitterEmail this Story
  • BaFin reportedly investigates Euribor manipulation
    German financial regulator BaFin is investigating Deutsche Bank and three other lenders amid possible manipulation of the Euro Interbank Offered Rate, German newspaper Sueddeutsche Zeitung reported. The inquiry reportedly is the most serious type that BaFin can undertake. Reuters (28 Jan.), Bloomberg (28 Jan.) LinkedInFacebookTwitterEmail this Story
CFA Institute: Global Investment Risk Symposium
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  Financial Products 
Each charterholder has a tale to tell. What's yours?
  • SIGTARP: Treasury ignored rules for pay at rescued firms
    The U.S. Treasury Department disregarded its guidelines for executive compensation at government-rescued companies when it approved millions of dollars in raises last year at Ally Financial, American International Group and General Motors, according to a report by the Office of the Special Inspector General for the Troubled Asset Relief Program. The report says Patricia Geoghegan, the Treasury's acting special master for compensation, circumvented procedures aimed at keeping pay at the midpoint of similar companies. The Washington Post (28 Jan.) LinkedInFacebookTwitterEmail this Story
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