March 14- Puerto Rico pulled off a blockbuster of a bond sale this week, sparing it from the threat of imminent default, but few who have followed the Caribbean island's financial troubles doubt that a massive restructuring is in its future.» Read More
*J.C. Penney jumps after November sales. NEW YORK, Dec 4- U.S. stock index futures were little changed on Wednesday, ahead of a flurry of economic data, including a report on the labor market. *Investors will eye the November employment report from Automatic Data Processing at 8:15 a.m. EST for clues on hiring ahead of Friday's key payrolls report.
Three organizations, the American Council of Life Insurers, the American Benefits Council and the Investment Company Institute, which represents the mutual fund industry, contributed to the research and published the study.
TOKYO, Dec 4- The head of Japan's Government Pension Investment Fund, the world's largest, said on Wednesday that the $1.2 trillion fund holds too much in domestic bonds but can lower the weighting by letting bonds mature, without selling from its holdings.
Trading desks in Europe and Asia are eagerly waiting for the United States to stipulate under what conditions they can follow just their domestic rules on swaps trading and still continue to deal with U.S. counterparties, rather than abiding by the Dodd Frank regulation as well.
TOKYO, Dec 4- Japanese government bond prices edged higher on Wednesday, tracking gains in U.S.
BIRMINGHAM, Ala., Dec 3- Alabama's Jefferson County on Tuesday closed on a $1.78 billion sewer bond deal and brought an end to what had been the biggest U.S. municipal bankruptcy before Detroit filed for court protection from creditors in July.
DETROIT, Dec 3- A federal judge on Tuesday formally declared Detroit bankrupt, a landmark ruling that clears the way for potentially sweeping cuts to city worker pensions and retirement benefits and for steep and possibly precedent-setting losses to the cash-strapped city's bond holders.
BOSTON/ WASHINGTON Dec 3- Are proxy advisory firms giving mutual funds too much help with their homework? That question is due for airing at a event in Washington on Thursday focused on the role of proxy advisers like Institutional Shareholder Services and Glass, Lewis& Co. that help funds decide how to vote at corporate annual meetings.
SAO PAULO/ RIO DE JANEIRO, Dec 3- OGX Petróleo e Gas Participações SA and its creditors are close to a deal to transform some of OGX's $5.1 billion debt into stock, stripping Brazilian businessman Eike Batista of a controlling stake in the oil company, two sources with direct knowledge of the situation said on Tuesday.
NEW YORK, Dec 3- U.S. Treasuries prices rose on Tuesday, bolstered by two bouts of bond purchases from the Federal Reserve and a slump in Wall Street stocks partly on worries about the Federal Reserve reducing stimulus sooner than some traders think.
SPRINGFIELD, Illinois, Dec 3- Unions representing public employees in Illinois blasted a bill to reform the state's woefully underfunded pension system on Tuesday and said they would take legal action if the bill is passed by the legislature. Montgomery said the bill is "blatantly unconstitutional" and predicted it would be tossed out by Illinois courts.
NEW YORK, Dec 3- Fear that the Federal Reserve will scale back its stimulus as the U.S. economy recovers hit world stock markets for a second straight day on Tuesday, with European equities falling the most since August, while Treasury prices rose modestly. said Gordon Charlop, managing director at Rosenblatt Securities in New York.
*Portugal swaps 6.6 bln euros of 2014/ 2015 bonds. Portugal swapped 6.6 billion euros in bonds expiring next year and in 2015 for longer maturities, in an exchange analysts said demonstrated improved market confidence.
NAIROBI/ LONDON, Dec 3- Improved fiscal management has left Kenya well placed to borrow from international financial markets, the IMF said, as the country said it planned to start marketing a debut sovereign Eurobond next month.
NEW YORK, Dec 3- Bill Gross, co-founder and co-chief investment officer of bond giant Pimco, said Tuesday that easy-money policies worldwide have put global economies and their capital markets increasingly at risk.
NEW YORK/ LONDON, Dec 3- Fear that the U.S. Federal Reserve will scale back its stimulus as the economy recovers drove world stock markets down for a second straight day on Tuesday, with Europe taking its worst hit since August, while Treasury prices rose modestly. said Gordon Charlop, managing director at Rosenblatt Securities in New York.
*Fed to buy$. 75 bln- $1 bln notes due 2024-2031. *Fed to purchase $3 bln- $4 bln notes due 2019, 2020. It will pick up later in the week with a slew of data culminating in payrolls on Friday, "said Justin Lederer, an interest rate strategist at Cantor Fitzgerald in New York.
*Apple up after Topsy buy, UBS upgrade. NEW YORK, Dec 3- U.S. stock index futures fell on Tuesday, indicating the S&P 500 may fall for a third consecutive day on concerns a reduction in stimulus by the Federal Reserve may be on the horizon earlier than some had anticipated.
*Portugal swaps 6.6 bln euros of 2014/ 2015 bonds. LONDON, Dec 3- Portuguese government bond yields fell sharply on Tuesday after a debt exchange met stronger demand than some in the market had expected, easing redemption payments next year when it hopes to exit its bailout programme.
*Apple up after Topsy buy, UBS upgrade. *Yum Brands November China sales flat. NEW YORK, Dec 3- U.S. stock index futures fell on Tuesday, indicating the S&P 500 may fall for a third consecutive day on concerns a scale-back in stimulus by the Federal Reserve may be on the horizon.