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  • The strong debt issuance outlook comes on top of a record year for the "dim sum" bond market which has seen 324 billion yuan in bond issuance so far this year, a 74 percent increase from 2013 volumes, according to Thomson Reuters data. "It's trade settlement that drives the dim sum bond market in the end," said Andrew Malcolm, capital markets partner at Linklaters in Hong...

  • NEW YORK, Dec 17- The S&P 500 scored its best day since October 2013 on Wednesday as the Federal Reserve gave an upbeat assessment of the U.S. economy and said it would take a patient approach toward raising interest rates. The Fed said it would take a "patient" approach in deciding when to bump borrowing costs higher, which Fed Chair Janet Yellen, at a news conference,...

  • NEW YORK, Dec 17- A tiny mutual fund based in Miami, a clutch of cruise line operators and a Canadian natural resources company rank among the early winners in the Obama administration's surprise move on Wednesday to thaw relations with Cuba. While the Cuban economy is small, with gross domestic product of roughly $70 billion, according to the World Bank,...

  • NEW YORK, Dec 17- The S&P 500 scored its best day since October 2013 on Wednesday as the Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward lifting interest rates. "This is the market saying,' Ah, I get it,' the Fed does not want to be in the business of disruption, this is a steady monetary policy and the Fed will continue...

  • NEW YORK, Dec 17- Pimco posted a record total outflow of $5.8 billion from its emerging market funds in the first 11 months of 2014, according to Morningstar data released on Wednesday. Pimco's funds have suffered from ill-timed investment bets in Russia, Ukraine, Brazil and Venezuela along with the ongoing flight by investors from emerging markets and the...

  • *FOMC stresses patience in normalizing interest rates. *Yellen sees boost for U.S. from oil drop, downplays risk. NEW YORK, Dec 17- U.S.

  • NEW YORK, Dec 17- A tiny mutual fund based in Miami, a clutch of cruise line operators and a Canadian natural resources company are the early winners in the Obama administration's surprise move on Wednesday to thaw relations with Cuba. While the Cuban economy is small, with gross domestic product of roughly $70 billion, according to the World Bank, comparable to...

  • NEW YORK, Dec 17- U.S.-listed exchange-traded funds tied to Russia rallied on Wednesday, providing some relief after the funds have been beaten down some 50 percent year-to-date. The SPDR S&P Russia ETF jumped 12.6 percent in Wednesday trading on the NYSE Arca exchange, while the iShares MSCI Russia Capped Index Fund gained 11.2 percent and the Market Vectors...

  • Pimco's funds have suffered from ill-timed investment bets in Russia, Brazil and Venezuela along with the ongoing flight by investors from emerging markets, exacerbated by the management shakeup following the dramatic departures of co-founder Bill Gross and Chief Executive Officer Mohamed El-Erian. The $9.8 billion Pimco Emerging Local Bond Fund, which...

  • Dec 17- Shares of the Herzfeld Caribbean Basin Fund jumped by nearly 40 percent to a seven-year high on record volume on Wednesday following reports that the Obama administration was preparing to announce sweeping changes to U.S. policy about Cuba. The fund, a closed-end mutual fund listed on Nasdaq under the ticker " CUBA," holds stocks and assets that fund...

  • TREASURIES-U.S. bond yields flat ahead of Fed statement Wednesday, 17 Dec 2014 | 10:31 AM ET

    NEW YORK, Dec 17- U.S. Fed Chair Janet Yellen will hold a press conference half hour later. "They have set up the path for a rate hike unless something really goes awry," said Robert Tipp, chief investment strategist at Prudential Fixed Income in Newark, New Jersey.

  • Cuba-focused fund rockets on U.S. policy shift Wednesday, 17 Dec 2014 | 10:07 AM ET

    Dec 17- Shares of the Herzfeld Caribbean Basin Fund jumped by more than 20 percent on record volume on Wednesday morning following reports that the Obama administration was preparing to announce sweeping changes to U.S. policy about Cuba. The fund, a closed-end mutual fund listed on Nasdaq under the ticker " CUBA," holds stocks and assets that fund manager Thomas...

  • US STOCKS-Futures rise ahead of Fed decision Wednesday, 17 Dec 2014 | 7:47 AM ET

    *FedEx shares fall after earnings. NEW YORK, Dec 17- U.S. stock index futures rose on Wednesday, following three days of losses for major Wall Street indexes, ahead of the year's final statement from the U.S. *FedEx shares fell 2.8 percent in light premarket trading after the package delivery company posted quarterly results.

  • Buy American? Not so for retail stock fund investors Wednesday, 17 Dec 2014 | 7:00 AM ET

    NEW YORK, Dec 17- A record run in U.S. stocks does not appear to have won over one large investor pool: Mom-and-pop retail investors. So far this year, mutual fund buyers have added about $1.6 billion in net new cash to domestic stock funds, according to data from Thomson Reuters unit Lipper. "That's almost a rounding error," said Tom Roseen, head of research services at...

  • Investors in beat-up oil bonds lean on banks for rescue Wednesday, 17 Dec 2014 | 1:00 AM ET

    BOSTON, Dec 17- Independent oil exploration and production companies are leaning heavily on bank credit lines to survive plunging crude prices, making it a nervous time for U.S. funds holding their junk-rated debt. 'said Francis Bradley III, a Greenberg Traurig attorney in Houston who specializes in energy company financing deals. " U.S. mutual funds hold an...

  • JGBs mostly flat, erase gains ahead of Fed meeting Wednesday, 17 Dec 2014 | 12:42 AM ET

    TOKYO, Dec 17- Japanese government bond prices erased earlier gains to stay mostly flat on Wednesday as investors took profits ahead of the U.S. Federal Reserve's policy meeting outcome. The 10- year JGB yield stood at 0.360 percent, up 0.5 basis point on the day after having fallen to 0.345 percent, its lowest level since April 2013.

  • NEW YORK, Dec 16- Vanguard Group became the largest U.S. fund manager by assets by persuading investors that they don't need to pay for a stock picker. Under lead manager James Stetler, the $615 million Vanguard Strategic Small Cap Equity Fund, for example, topped its index by 3.2 percentage points a year over the same period. An investor who put $10,000 into the...

  • *Benchmark yields hit two-month low after U.S. oil falls below $54 Long bond yield touches lowest since September 2012. NEW YORK, Dec 16- A cratering oil market fed investor worries about how plunging crude prices might harm the global economy on Tuesday and spurred a fresh wave of bids for low-risk U.S. government debt, sending the 30- year yield to its lowest in...

  • Ethiopia to expand energy, industry with Eurobond funds Tuesday, 16 Dec 2014 | 12:56 PM ET

    ADDIS ABABA, Dec 16- Ethiopia plans to expand industry, sugar factories and power production using proceeds from its oversubscribed debut Eurobond that raised $1 billion, the finance minister said on Tuesday. Ethiopia is the latest African state to receive a strong response on its first foray into the international debt markets. Offering cheap labor and power...

  • NEW YORK, Dec 16- Vanguard Group became the largest U.S. fund manager by assets by persuading investors that they don't need to pay for a stock picker. Under lead manager James Stetler, the $615 million Vanguard Strategic Small Cap Equity Fund, for example, topped its index by 3.2 percentage points a year over the same period. An investor who put $10,000 into the...