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  • WASHINGTON, Feb 24- The U.S. Supreme Court on Tuesday appeared ready to give Edison International employees who accused the utility of favoring higher-cost mutual funds over lower-cost ones in its retirement plan a chance to revive some of their claims. There appeared to be consensus among the justices that a 9th U.S. Circuit Court of Appeals ruling in favor of...

  • NEW YORK, Feb 24- U.S. Treasuries prices rallied on Tuesday, erasing early losses after testimony from Federal Reserve Chair Janet Yellen kept the door open for a later than midyear interest rate hike and a two-year note auction met with strong demand. In remarks to the Senate Banking Committee, Yellen described how the Fed's rate-setting policy committee would...

  • WASHINGTON, Feb 24- The U.S. Supreme Court on Tuesday appeared set to revive certain claims in a class action lawsuit against Edison International by employees who accused the utility of favoring higher-cost mutual funds over-lower cost ones in its retirement plan. The case concerns a lawsuit filed by Glenn Tibble and other employees against Edison...

  • NEW YORK, Feb 24- U.S. In prepared remarks to the Senate Banking Committee released at 10 a.m. ET, Yellen described how the Fed's rate-setting policy committee will likely proceed in coming months in an effort to increase the Fed's flexibility and mute potential market reaction as the central bank approaches its "liftoff" date. "They're trying to give themselves...

  • LONDON/ NEW YORK, Feb 24- The dollar edged lower and bond yields fell after U.S. Federal Reserve Chair Janet Yellen said on Tuesday it would be several months before the Fed expects to raise interest rates, while European equity markets gained after Greece produced a list of proposed economic reforms. "It's pretty evenhanded," said Thomas Simons, money market...

  • *Barclays move prompted by Moody's downgrade. LONDON, Feb 24- Barclays will remove Russian foreign currency debt from its global bond indexes, putting it off-limits for many international investors, after Moody's became the second agency to downgrade the country's credit rating to junk. "The downgrade does signal more limited access and higher costs for hard...

  • *Greece relief hurts safe-haven debt. Treasuries prices edged lower on Tuesday, giving back some of Monday's gains on uncertainty ahead of Federal Reserve Chair Janet Yellen's testimony before the Senate and reduced appetite for safe-haven assets on greater relief over Greece. Yellen will give the central bank's semiannual Monetary Policy Report to the...

  • US STOCKS-Futures flat with Yellen on tap Tuesday, 24 Feb 2015 | 7:51 AM ET

    *Yellen's two-day testimony before Congress to start at 10 a.m.. NEW YORK, Feb 24- U.S. stock index futures were little changed on Tuesday, with the Dow and S&P 500 holding near record levels ahead of testimony by Federal Reserve Chair Janet Yellen and a flurry of economic data. *Yellen will give the central bank's semi-annual Monetary Policy Report to the Senate...

  • JGBs edge higher, bolstered by solid 40-year sale Tuesday, 24 Feb 2015 | 1:25 AM ET

    TOKYO, Feb 24- Japanese government bonds firmed on Tuesday, bolstered by solid demand at a 40- year auction. The Ministry of Finance sold 399.5 billion yen worth of 40- year JGBs with a 1.7 percent coupon at a highest accepted yield of 1.550 percent. Federal Reserve Chair Janet Yellen later in the day, which could offer clues on the timing of a U.S. interest rate hike as...

  • NEW YORK, Feb 23- U.S. Yellen will testify before Congress on Tuesday in a semiannual address on the economy and monetary policy to the Senate Banking Committee. "We did have a pretty meaningful sell-off," said Jonathan Lewis, chief investment officer at New York- based Samson Capital Advisors.

  • NEW YORK, Feb 23- U.S. stocks slipped from all-time highs on Monday, pulled lower by a sharp drop in crude oil prices, while European shares rallied on the conditional financial rescue for Greece hammered out at the end of last week. Yields on low-rated euro zone government bonds fell as the agreement reached late Friday eased concerns that Greece would leave the...

  • NEW YORK, Feb 23- U.S. Yellen will testify before Congress on Tuesday in a semiannual address on the economy and monetary policy before the Senate Banking Committee. "They don't have to hike in June, they don't have to hike in September, they hike when they need to hike," said George Goncalves, head of U.S. rates strategy at Nomura Securities International in New York, in...

  • BUENOS AIRES, Feb 23- Debt-holders who want to jumpstart restructuring talks with Argentina may have to wait until a court rules next month on whether to let a disputed bond payment go through, further extending a legal feud that has hobbled state finances. The case stems from Argentina's 2002 default on about $100 billion, which has weighed on Latin America's No....

  • BlackRock set to launch first 'smart beta' bond fund Monday, 23 Feb 2015 | 8:00 AM ET

    NEW YORK, Feb 23- BlackRock Inc is planning to launch its first so-called "smart beta" bond fund that will adjust the holdings of a traditional bond index to achieve an equal balance of credit and interest rate risk. "You've seen this trend on the equity side, and I think you're seeing it start to accelerate on the fixed-income side," said Matt Tucker, head of iShares...

  • NEW YORK, Feb 23- U.S. stock index futures dipped on Monday, after the Dow and S&P closed at records on the heels of an agreement by euro zone finance ministers to extend Greece's bailout by four months provided it draws up a list of reforms. *Greece will present its economic reform plans on Monday to seal the euro zone financial lifeline, but the government drew...

  • LONDON, Feb 23- Russian and Ukrainian sovereign bonds sold off heavily on Monday, with the latter now trading around 40 cents in the dollar as continued fighting in eastern Ukraine raised fears for both credits. The violence, and sanctions imposed for Russia's role in it, have exacerbated economic problems caused by falling oil prices, with Moody's cutting...

  • LONDON, Feb 23- Russian dollar bonds fell as much 2.5 cents on Monday after Moody's became the second agency to cut their credit rating to junk while Ukrainian debt also fell, hitting new record lows. Moody's downgraded Russia to Ba1 from Baa3 late on Friday, citing the impact from the Ukraine crisis as well as the steep fall in oil prices and the rouble.

  • MUMBAI, Feb 23- India must boost growth, cut its fiscal deficit and fulfil promises of financial and fiscal reforms in order to justify an upgrade in a credit rating, currently lodged one rung above junk bond territory, rating agency Standard& Poor's said on Monday. S&P raised India's credit rating outlook to' stable' from' negative' in September, citing the prospect...

  • JGBs shrug off share gains, edge higher Monday, 23 Feb 2015 | 1:03 AM ET

    TOKYO, Feb 23- Japanese government bonds edged up on Monday, supported by the Bank of Japan's bond-buying operations, and shrugging off any impact from a fresh 15- year high for the Nikkei stock average. The BOJ offered to buy 400 billion yen of JGBs maturing in 5 to 10 years, and 140 billion of floating-rate JGBs. The Nikkei share average hit a new 15- year high on...

  • *Stocks mixed, euro little changed in Asia. *Debt deal a relief but Greece seen not out of woods yet. U.S. stock futures opened flat in Asia but Japan's Nikkei could track Wall Street's sizable gains to scale another 15- year high.