MWU / School for Political Science, Public Policy & Geopolitics: Fw: Bond market indicates rates won't go as high as Fed predicts

Wednesday, May 28, 2014

Fw: Bond market indicates rates won't go as high as Fed predicts

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From: "NYSSA SmartBrief" <nyssa@smartbrief.com>

Date: Wed, 28 May 2014 05:32:00 -0500 (CDT)

To: <mainandwall@aol.com>

Subject: Bond market indicates rates won't go as high as Fed predicts

Bond market indicates rates won't go as high as Fed predicts | Nasdaq planning second revamp of PSX in about a year | Labor's fiduciary rule for retirement advisers delayed

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May 28, 2014

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Bond market indicates rates won't go as high as Fed predicts
The bond market suggests that the U.S. economy won't expand enough to prompt the Federal Reserve to increase its overnight interest rate past 3.3%. "The market's pricing in an extraordinarily slow Fed," said Margaret Kerins, head of fixed-income strategy at Bank of Montreal. "Potential growth is a huge determinant of that long-term rate, and most people are buying into the idea of lower potential growth." Bloomberg (5/27)

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Industry Update

Nasdaq planning second revamp of PSX in about a year
Nasdaq OMX Group intends to revamp PSX to return the exchange's focus to the size, rather than time, of incoming orders, a regulatory filing shows. The move highlights challenges smaller exchanges have faced as more trading shifts to dark pools and other private venues. Reuters (5/27)

Labor's fiduciary rule for retirement advisers delayed
The U.S. Department of Labor says its revised fiduciary rule for financial advisers who help individual investors plan for retirement, as well as advisers who provide services to workplace retirement plans, won't be released until January at the earliest. The department previously said the proposal would be issued in August. Pensions & Investments (free access for SmartBrief readers) (5/27), ThinkAdvisor (5/27)

Liquid-alternative funds become point of debate
Investment firms and financial advisers are debating whether liquid-alternative funds are a better way to increase returns and diversify a portfolio or simply a risky fad. The new class of mutual funds have become increasingly popular over the past year, but not everyone is convinced of their worth. The Wall Street Journal (tiered subscription model) (5/27)

SEC's White announces new approach to violations
Mary Jo White, head of the Securities and Exchange Commission, said at a conference on white-collar crime that the agency plans to increase use of a provision that targets people who use others to violate rules. "One new approach to charging individuals is to use Section 20(b) of the Exchange Act," White said. The New York Times (tiered subscription model)/DealBook blog (5/27)

Some regulators reportedly frustrated by pace of reform
Some officials at the Securities and Exchange Commission and other watchdogs are increasingly questioning the lack of progress on passing financial-reform rules, sources said. Financial Times (tiered subscription model) (5/27)

New York Focus

Bid for 2024 Summer Olympics rejected by de Blasio
New York Mayor Bill de Blasio decided against backing a proposal for the city to host the 2024 Olympic Games. Alicia Glen, deputy mayor for housing and economic development, said city officials looked at the pros and cons of an Olympic bid and concluded that it "doesn't make sense." The Wall Street Journal (tiered subscription model) (5/27)

Jersey City to bring back its Fourth of July fireworks show
Now that Macy's has decided to move its Fourth of July fireworks display from the Hudson River to the East River, the mayor of Jersey City, N.J., says he plans to have his city put on a fireworks show at Liberty State Park with the Statue of Liberty in the background. Jersey City's fireworks on the Hudson ended in 2009 because of budget problems and competition with the bigger display backed by Macy's, Mayor Steven Fulop said. The New York Times (tiered subscription model) (5/27)

Financial Products

Direxion debuts leveraged ETF investing in S&P 500
Direxion is bringing to NYSE Arca an exchange-traded fund designed to deliver 200% of the performance of the Standard & Poor's 500 index. The Direxion Daily S&P 500 Bull 2X Shares ETF takes the place of a similar fund that tracked the NYSE U.S. 100 Index, according to a filing with the Securities and Exchange Commission. ETF.com (5/27)

SmartQuote

Whatever your discipline, become a student of excellence in all things. Take every opportunity to observe people who manifest the qualities of mastery. These models of excellence will inspire you and guide you toward the fulfillment of your highest potential."

-- Tony Buzan and Michael Gelb,
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