Municipal bonds issued for bankrupt American Airlines that once traded for less than 20 cents on the dollar have taken flight over the past year, scoring big-ticket gains for a handful of U.S. municipal bond fund managers.
NEW YORK, Nov 13- U.S. In remarks prepared for delivery to the U.S. Senate Banking Committee on Thursday, Yellen said the U.S. central bank has "more work to do" to help an economy and a labor market that are still underperforming. Yellen, the Fed's vice chair, has been nominated by President Barack Obama to succeed Chairman Ben Bernanke when his term expires in January.
*Wall Street stocks gain on prospects for accommodative Fed. *Treasury yields ease before Yellen's Senate Banking Committee appearance.
*Yellen to appear before Senate Banking Committee Thursday. NEW YORK, Nov 13- U.S. Yellen, currently Fed vice chair and nominated by President Barack Obama to succeed Chairman Ben Bernanke, will speak before the Senate Banking Committee on Thursday.
CARACAS, Nov 13- Venezuelan state oil company PDVSA announced on Wednesday a $4.5 billion bond sale, accelerating a steep rise in borrowing over the last year with its second-largest issue that will finance operating expenses rather than investments.
NEW YORK, Nov 13- Asset managers building big stakes in corporate bonds could be left hanging as banks cut back on providing liquidity, increasing the risk of chaotic selloffs should interest rates spike from record lows.
NEW YORK, Nov 13- Investors in U.S.-based mutual funds poured over $9 billion into stock funds in the week ended Nov. 6 despite uncertainty over the Federal Reserve's next move, data from the Investment Company Institute showed on Wednesday.
*U.S. to sell $24 billion 10- year notes, part of refunding. Treasuries prices rose on Wednesday as investors prepared for a $24 billion auction of 10- year notes, the second leg of the Treasury's $70 billion quarterly refunding this week. That's giving people some confidence, "said Gennadiy Goldberg, an interest rate strategist at TD Securities in New York.
*U.S. to sell $24 billion 10- year notes, part of refunding. Treasuries prices rose on Wednesday as investors prepared for an upcoming $24 billion auction of 10- year notes, the second leg of the Treasury's $70 billion quarterly refunding this week.
NEW YORK, Nov 13- Asset managers' bond holdings are surging as banks that traditionally facilitated trades in debt markets scale back, raising fears that increasingly one-sided markets are at a greater risk of frantic selloffs.
*Italy, Germany sell government bonds. LONDON, Nov 13- German Bund yields briefly hit three-week highs on Wednesday, but held in narrow ranges as uncertainty over when the U.S.
*Germany wants rules in 2015 to push bank losses on investors. BRUSSELS, Nov 13- Market euphoria and soaring demand for European bank debt could be brought back down to earth if the European Union pushes ahead with the early introduction of rules allowing Cyprus-style raids on bank creditors and big depositors.
TOKYO, Nov 13- Japanese government bond prices were slightly weaker on Wednesday, with the five-year yield up ahead of the Ministry of Finance's auction of 2.7 trillion yen worth of five-year bonds on Thursday.
NEW YORK, Nov 12- Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Tuesday that he regrets collateralized debt obligation trades the Wall Street bank made in the run-up to the financial crisis that later caused a firestorm of public criticism.
Nov 12- The deal American Airlines and U.S. Airways Group struck to sell gate slots at half a dozen airports in exchange for government clearance for a merger could lift a cloud that has hung over a popular corner of the municipal bond market since late summer.
WASHINGTON, Nov 12- President Barack Obama on Tuesday named Timothy Massad, a lawyer who oversaw the U.S. government's $700 billion bank bailout program, as the next head of one of Wall Street's most powerful supervisors.
The increase came from a blizzard of small trades- the average trade size was $281,833 in the third quarter, compared to $334,372 in the third quarter of 2012. When measured by par amount, trading rose only about 4 percent to $825 billion in the third quarter.
*Fed purchases $1.565 billion in long-dated Treasuries. NEW YORK, Nov 12- U.S. "This is the lowest yielding 3- year auction since August," noted Thomas Simons, a money market economist at Jefferies& Co in New York.
NEW YORK, Nov 12- Fund manager Jonathan Ingram doesn't hew to the same rules that other stock pickers follow. He doesn't build intricate spreadsheets that model company value.
WASHINGTON, Nov 12- President Barack Obama plans to name Timothy Massad, a lawyer who earned his spurs at the country's bank bailout program, as the next head of the U.S. swaps regulator, according to a White House official.