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  • May 19- UBS AG must buy back an investor's Puerto Rico bond fund portfolio for $1 million, securities arbitrators ruled on Tuesday in a rare, lengthy rebuke of the firm's sales practices on the Caribbean island. A Financial Industry Regulatory Authority arbitration panel in San Juan found two UBS units liable to the investor, Juan Burgos Rosado, whose losses in...

  • Chaired by Treasury Secretary Jack Lew, its membership is comprised of the top U.S. regulators including Federal Reserve Chair Janet Yellen and Securities and Exchange Commission Chair Mary Jo White. The FSOC's report comes just one day before the SEC is slated to propose rules that would require mutual funds and other asset managers to report more details...

  • *Ukraine needs dollars, not words, from creditors- PM. KIEV, May 19- Ukraine passed a law on Tuesday that gives the government the right to halt payments to creditors as it wrangles over the terms for restructuring $23 billion of foreign debt. Ukraine is holding talks to restructure sovereign and state-guaranteed debt to plug a $15 billion funding gap, but...

  • Spanish debt chief sees market volatility subsiding Tuesday, 19 May 2015 | 10:17 AM ET

    PARIS, May 19- The head of Spain's debt management agency said on Tuesday that recent volatility in bond markets would wane as it was not rooted in investor concerns about issuers' credit quality. Many market participants have struggled to explain the rout, with some attributing it to dwindling liquidity and others blaming rising inflation expectations after...

  • NEW YORK, May 19- Encouraging housing starts data and a bulge of corporate bond supply knocked U.S. "This morning's market action was driven by a pretty good housing starts number," said Stanley Sun, interest rate strategist at Nomura Securities International in New York. Investment-grade companies raised $18 billion in the debt market on Monday with more on the...

  • *PM says Ukraine needs dollars, not words, from creditors. Ukraine is holding talks to restructure sovereign and state-guaranteed debt to plug a $15 billion funding gap, but negotiations have soured in the past week, as bondholders repeated objections to any writedown on the principal owed and Kiev said that stance showed a lack of good faith.

  • Big bond funds see opportunities amid global rout Tuesday, 19 May 2015 | 9:21 AM ET

    Much of that selling has come from players with shorter-term horizons such as hedge funds and momentum funds, however, and bond market giants PIMCO, Blackrock, Amundi and Aberdeen Asset Management told Reuters they have seen almost no outflows. But clients are cutting exposure to index-linked paper in favor of peripheral euro zone bonds or even subordinated...

  • WRAPUP 1-Faster ECB money-printing excites investors Tuesday, 19 May 2015 | 8:37 AM ET

    *Signs that Greece is inching towards deal. FRANKFURT/ BRUSSELS, May 19- The European Central Bank will accelerate the pace of money printing to buy government bonds over the next two months, one of its top officials said, while voicing concern about recent swings on bond markets. "The Eurosystem is ready to go further if necessary...," Christian Noyer, who as governor of...

  • *China shares gain sharply on hopes for Beijing reforms. LONDON, May 19- The euro tumbled on Tuesday and the region's stocks and bonds jumped after the European Central Bank suggested it may speed up its 1 trillion euro bond-buying campaign slightly to account for lower market liquidity in high summer. The euro was back at $1.12 for the first time in a week and the...

  • FRANKFURT, May 19- The speed of the recent European government bond market selloff is worrying, a senior ECB rate setter said, although he added that overall the move was a normal correction as the more pessimistic growth and inflation assumptions were reversed. European Central Bank Executive Board member Benoit Coeure said the bank's asset buying would rise...

  • IFC eyes Panda bond issue in China this year Tuesday, 19 May 2015 | 2:05 AM ET

    BEIJING, May 19- The International Finance Corp, the World Bank's private-sector arm, plans to sell so-called yuan denominated Panda bonds in China this year and is awaiting regulatory approval, a top official at the agency said on Tuesday. Jingdong Hua, vice president and treasurer of the International Finance Corp, said the IFC is having "close discussions" with...

  • JGBs ease on U.S. Treasuries, 5-yr bond auction Tuesday, 19 May 2015 | 1:16 AM ET

    TOKYO, May 19- Japanese government bond prices dropped on Tuesday, taking cues from falls in U.S. bonds and briefly extending losses after an auction of five-year JGBs showed limited demand at the current levels. The auction of 2.5 trillion yen five-year JGBs drew tepid demand, with bid-to-cover ratio coming at 2.80, the lowest level in three and a half years.

  • *Less gloom on Europe soured bullish dollar, bond bets. NEW YORK, May 19- The dollar's four-week decline and a slump in bond prices has upset some assumptions about where global financial markets are heading, but haven't deterred most investors from staying faithful to their bets. "What we have really seen this month is a correction as opposed to a turn," said Mark...

  • *Jiangsu bond issue eases fears over local govt debt. SHANGHAI, May 19- China stocks bounced sharply off one-week lows on Tuesday, cheered by Beijing's 2015 guidelines for economic reform that prioritize further opening of the country's capital market and the restructuring of state enterprises. The guidelines, which target areas including the Shenzhen- Hong...

  • LOS ANGELES, May 18- San Bernardino's council approved a bankruptcy exit plan on Monday night that seeks to virtually eliminate the southern California city's pension bond debt while paying Calpers, the state pension system, in full. The Luxembourg- based bank EEPK, holder of the $50 million pension obligation bonds, Ambac Assurance Corp, which insures a portion...

  • In the first, Forrest rejected an attempt by funds from BlackRock Inc, Allianz SE's Pacific Investment Management Co and TIAA-CREF to hold US Bancorp liable for alleged defects in 843 RMBS trusts collateralized by $778.6 billion of loans, causing tens of billions of dollars of losses. Separately, Forrest said the National Credit Union Administration lacked...

  • NEW YORK, May 18- U.S. "There's been the bias to sell into strength," said Ed Atkins, Treasury strategist at RBS Securities in Stamford, Connecticut. On Monday, the National Association of Home Builders said its index of members' sentiment fell to 54 points in May from 56 in April, falling short of a forecast increase to 57 among economists polled by Reuters.

  • Rates fall at weekly US Treasury auction Monday, 18 May 2015 | 3:17 PM ET

    The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.015 percent, down from 0.02 percent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.08 percent, down from 0.085 percent last week. For a $10,000 bill, the three-month price was $9,999.62, while a six-month bill sold for $9,995.96.

  • Wall Street added slightly to gains, pushing the benchmark S&P 500 to a fresh all-time high. "Greece is running on fumes and the risk of non-payment of some form is riding high... The country made a May 12 payment to the IMF only by emptying an IMF holding account, and a leaked IMF memo acknowledged Greece had little chance of making a scheduled June 5 payment.

  • BOSTON, May 18- U.S. bond fund managers who have a large chunk of their portfolios invested in stocks say those holdings could give them an extra edge in a debt market selloff. "The challenge today is that when credit spreads widen, they do so quickly," said Henry Peabody, who helps run the $1.9 billion Eaton Vance Bond Fund. But it has become harder than ever to buy and sell...