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From: "CFA Institute Financial NewsBrief" <cfa@smartbrief.com>
Date: Wed, 21 May 2014 05:06:11 -0500 (CDT)
To: <mainandwall@yahoo.com>
Subject: Banks accused of collusion to manipulate Euribor
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Greece's Samaras promises jobs are on the way Greece will bring its unemployment rate below the EU average by 2020, Prime Minister Antonis Samaras said while presenting his government's plans for the economy. Greece's jobless rate is 26.5%, the highest in the EU. "From now on, there will be no more looking down ... the recession ends this year," he said. Kathimerini (Greece) (20 May.)  | Bloomberg's Portfolio & Risk Analytics gives you everything you need to manage your portfolio in real-time. Find out more. | | | | | Asian-Pacific markets mixed after BoJ meeting Asian-Pacific markets were mixed Wednesday after the Bank of Japan's policy committee said it is leaving its monetary policy unchanged. Japan's Nikkei 225 fell 0.2%. Hong Kong's Hang Seng Index was flat. Australia's S&P/ASX 200 edged up 0.1%. China's Shanghai Composite rose 0.8%. South Korea's Kospi declined 0.2%. India's Sensex was down 0.3%. CNBC (21 May.), The Economic Times (India) (21 May.), Reuters (21 May.) Investors stick with Europe's surging stock market Investors continue to bet that European stock markets will keep rising, despite a weak economic recovery and low interest and inflation rates. "Even if the price-to-earnings ratio for European equities hits 15 ... That may not be enough to stop the rally," said Vincent Guenzi, portfolio manager at Cholet Dupont. "Taking the risk premium into account, would it be so shocking to even pay 20 times?" Reuters (19 May.) Wall Street declines as investors flee retailers The Standard & Poor's 500 index, the Nasdaq and the Dow Jones industrial average dropped Tuesday after quarterly results showed that retail chains are struggling to get shoppers into brick-and-mortar stores. The stock price of office-supply retailer Staples declined almost 13%, while the share price of competitor Office Depot lost 6%. Dick's Sporting Goods' stock price lost 18%. CNNMoney (20 May.), ValueWalk (20 May.)  | Fitch Learning offers quality financial public training courses worldwide • Trainers have experience working in financial institutions
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> Find out more | | | | | Advisers' Social Security expertise can boost clients' income Financial advisers willing to acquire detailed knowledge of how Social Security works can significantly increase clients' retirement income, experts say. Data published in the Journal of Financial Planning show that a couple following a properly designed claiming strategy can increase lifetime Social Security benefits by as much as $100,000. Reuters (20 May.) ECB might space out monetary-policy meetings The European Central Bank is considering holding interest-rate meetings every six weeks, instead of every month, sources say. The extra time would allow for publication of minutes from the previous meeting. The change would mirror the Federal Reserve's schedule. Bloomberg Businessweek (20 May.)  | Part I: Introduction to Ethical Decision Making (18 June at 12:00 p.m. EDT)
Part II: Exploring Additional Case Studies (28 May at 12:00 p.m. EDT and 25 June at 12:00 p.m. ET) | | | | | China to phase out local governments' financing vehicles China says it will end this year local governments' use of financing vehicles to circumvent a prohibition on direct borrowing. The National Development and Reform Commission will create a system for bond sales by local governments. The commission says local-government borrowing will be limited to bond issuance. Xinhuanet.com (China) (20 May.), Reuters (20 May.) SEC's Gallagher: 3rd-party examiners needed for advisers Registered investment advisers should be required to employ independent examiners to evaluate their businesses for impropriety, Securities and Exchange Commission member Daniel Gallagher said at the Financial Industry Regulatory Authority's annual conference. Gallagher is afraid that the SEC will overlook another huge investment scam if examination of advisers isn't improved, he said. InvestmentNews (free registration) (20 May.) BlackRock CEO voices concern about housing finance Laurence Fink, CEO at BlackRock, says that because the housing market is relying more on Fannie Mae and Freddie Mac, it is "structurally more unsound" than it was before the global financial crisis. U.S. lawmakers are considering overhauling the housing-finance system. Bloomberg (20 May.) | Municipal bond ETF debuts from First Trust First Trust has rolled out on Nasdaq an actively managed exchange-traded fund that invests in municipal bonds. The firm says the ETF's primary objective is to deliver current income with an exemption from regular federal income taxation. ETF Trends (20 May.) | Please contact one of our specialists for advertising opportunities, editorial inquiries, job placements, or any other questions.
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