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  • NEW YORK, June 1- Debt-ridden Puerto Rican utility PREPA on Monday proposed a turnaround plan requiring at least $2.3 billion of investment, but it was met with skepticism by creditors, with a bondholder representative calling parts of the plan "unworkable". Its plan calls for capital investment of $2.3 billion over either five or fifteen years, constructing an...

  • WASHINGTON, June 1- A leading mutual fund trade group is asking U.S. regulators to pressure their international counterparts to abandon efforts to draft criteria that could be used by countries to designate large funds as systemically risky. In a May 28 letter made public on Monday, Investment Company Institute President Paul Schott Stevens told the heads of...

  • NEW YORK, June 1- A plan to turn around Puerto Rico's struggling utility PREPA has some aspects that are "unworkable and will require further negotiation," said a financial adviser to its bondholders on Monday. Debt-ridden PREPA had a deadline to provide creditors with a turnaround plan by Monday. "The bondholders have received PREPA's plan," said Stephen Spencer,...

  • Rates drop at weekly US Treasury bill auction Monday, 1 Jun 2015 | 5:23 PM ET

    The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.010 percent, down from 0.015 percent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.070 percent, down from 0.085 percent last week. For a $10,000 bill, the three-month price was $9,999.75, while a six-month bill sold for $9,996.46.

  • NEW YORK, June 1- U.S. The Institute for Supply Management said its index of national factory activity rose to 52.8 in May, from April's 51.5. "We had some numbers today that probably had little a bit more strength to them than what the market was expecting and that has caused this selloff," said David Coard, head of fixed income sales and trading at Williams Capital in...

  • LONDON, June 1- Tom Hayes, an ex-trader on trial in London for allegedly conspiring to rig benchmark interest rates, at first agreed to plead guilty but later changed his mind, a prosecutor told the court on Monday. The former yen derivatives trader at UBS and Citigroup has pleaded not guilty to eight counts of conspiracy to defraud between 2006 and 2010, a criminal...

  • June 1- U.S. stock index futures were higher on Monday, after closing down the previous week, as investors focused on the bright spots in China's factory activity data and ahead of a string of domestic economic data. *Intel shares were up 0.6 percent at $34.68 in premarket trading on reports that the company was nearing a deal to buy programmable-chip maker Altera.

  • SHANGHAI, June 1- China's Tianjin municipality will auction 13.2 billion yuan of bonds ranging in tenors from three to 10 years on June 8, according to a notice on the website of a major bond clearing house published on Monday. Tianjin will be the eighth government to auction municipal bonds in China this year. The 13.2 billion yuan action comprises three-year...

  • JGBs sag as market braces for new supply Monday, 1 Jun 2015 | 12:35 AM ET

    TOKYO, June 1- Japanese government bond prices slipped on Monday as the market braced for about 3.2 trillion yen worth of supply hitting the market this week. Japan's finance ministry will sell 2.4 trillion yen of 10- year JGBs on Tuesday and 800 billion yen of 30- year debt on Thursday, prompting dealers to sell in anticipation of an uptick in yields when new debt...

  • *Argentina says adding claims increases obligation by $5.2 bln. *Argentina says nation would be put at unacceptable level of risk. May 29- Argentina urged a U.S. judge on Friday to not expand by another $5.4 billion the amount it must pay holders of defaulted debt before it can pay the majority of its creditors who participated in two rounds of sovereign...

  • *U.S. first-quarter GDP shrinks at 0.7 pct annual rate. NEW YORK, May 29- U.S. "The PCE core part of the GDP report was a reminder that inflation is still quite weak, and that adds to a bid in the bonds," said market strategist Lou Brien of DRW Trading in Chicago.

  • A creditors' committee, led by Franklin Templeton, has put forward a plan which would save Ukraine $15.8 billion, or more than what it is aiming for, via extending bond maturities by up to 10 years and by cutting coupon payments in initial years, a separate source had said earlier. "What will be difficult in this proposal is that 40 percent of the debt is amortized...

  • High-yield bond funds: Love them or leave them? Friday, 29 May 2015 | 2:07 PM ET

    NEW YORK— Don't know what to make of the junk-bond market? One month, dollars are flooding into junk-bond mutual funds and exchange-traded funds. But skittishness has been particularly high, with $9.3 billion fleeing junk-bond funds in December only for $9.6 billion to go right back in two months later.

  • Outsized investment returns and strong inflows have seen Wellington's assets under management grow to $939 billion at the end of March from $834 billion at the end of 2013, putting it on track to join the exclusive club of money managers running more than $1 trillion by as early as this year. While smart stock picking has helped, the company's growth has also...

  • Asa Hutchinson signed into law Friday authorizes an $87 million incentive package to help lure a major defense project to Arkansas. The incentive proposal calls for issuing bonds if Lockheed Martin is the successful bidder for a military vehicle assembly contract for its Camden facility. Two other companies— Indiana- based AM General and Wisconsin- based...

  • *European shares fall amid impasse on Greece talks. NEW YORK, May 29- Global equity markets and bond yields fell on Friday, weighed by data that showed the U.S. economy contracted in the first quarter and by conflicting signals from Greece's debt talks. Conflicting reports that Athens was close to clinching a reforms-for-cash deal with its creditors pushed...

  • *U.S. first-quarter GDP shrinks at 0.7 pct annual rate. NEW YORK, May 29- U.S. "The market simply doesn't believe the data will be strong enough to let the Fed this year," said Aaron Kohli, interest rate strategist at BNP Paribas in New York.

  • *Altera up on report of Intel takeover interest. May 29- U.S. stock futures were largely unchanged, keeping the market on course to open lower on Friday, after data showed that the economy contracted in the first quarter. "Monetary policy from the Fed is forward looking and GDP by definition is a rear view mirror and the important thing now is that it wasn't a big miss,"...

  • May 29- U.S. stock index futures were lower on Friday amid worries about Greece's ability to strike a deal with its euro zone partners by Sunday and ahead of U.S. gross domestic product data. *Altera rose 6.2 percent to $49.90 in premarket trading after the New York Post reported that Intel was close to buying the chipmaker for about $15 billion.

  • SHANGHAI, May 29- China's Anhui province will auction 31.2 billion yuan of bonds ranging in tenors from three to 10 years on June 5, according to a notice on the website of a major bond clearing house. Anhui will be the seventh government to auction municipal bonds in China this year. The 31.2 billion yuan action comprises three-year and 10- year bond issues 6.3...