Total U.S. money market mutual fund assets fell by $35.02 billion to $2.58 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets in the nation's retail money market mutual funds fell by $5.33 billion to $912.96 billion, the Washington- based mutual fund trade group said Thursday.» Read More
NEW YORK, Nov 14- An expert witness testified on Thursday that Bank of America Corp's proposed $8.5 billion settlement with mortgage bond investors is "not reasonable" and rife with conflicts of interest, as opponents made a final push to derail the deal.
NEW YORK, Nov 14- Hedge fund Paulson& Co maintained its stake in SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, in the third quarter after slashing its stake by more than half in the second quarter when bullion prices plummeted.
Nov 14- Fitch Ratings on Thursday said it may cut heavily indebted Puerto Rico's main credit rating to junk-bond status. A leading Wall Street credit ratings group, Fitch said it had placed the Caribbean island's BBB-minus general obligation bond rating on negative watch and expected to clarify the status of its rating by the end of June.
NEW YORK, Nov 14- An expert witness testified on Thursday that Bank of America Corp's proposed $8.5 billion settlement with mortgage bond investors is rife with conflicts of interest, as opponents made a final push to derail the deal.
NEW YORK, Nov 14- U.S. Answering questions before the Senate Banking Committee, Yellen said while the central bank's bond buying will not go on forever, it is important not to end it prematurely since the economy is still fragile.
CARACAS, Nov 14- PDVSA President Rafael Ramirez said the Venezuelan state oil company's new $4.5 billion bond offer is starting on Thursday. In its second largest issue, PDVSA is selling $1.5 billion to the central bank while offering the remaining $3 billion to service providers to pay down billions of dollars in debts.
A new study from McKinsey argues that the Fed's stimulus program has had little effect on the stock market.
CARACAS, Nov 14- PDVSA president Rafael Ramirez said the Venezuelan state oil company's new $4.5 billion bond offer is starting on Thursday.
Treasury debt prices rose on Thursday as investors awaited clues on the path of monetary policy from a Senate panel hearing on Federal Reserve Vice Chair Janet Yellen's nomination to head the U.S. central bank.
*Cisco shares tumble after revenue warning. NEW YORK, Nov 14- The Dow and S&P 500 were on track to set fresh record highs at the open on Thursday, extending gains from late in the previous session after the release of remarks from Federal Reserve chair nominee Janet Yellen, while a slide in Cisco shares weighed on Nasdaq futures.
LONDON, Nov 14- Investor appetite for euro zone companies as the economy shows signs of recovery has fuelled a rally in dividend futures, making a trade seen as easy money for the past two years look less secure. "There is less of a crisis discount on the longer-dated dividends," said Simon Carter, European head of derivatives equity strategy at Deutsche Bank.
*Cisco shares tumble after revenue warning. NEW YORK, Nov 14- U.S. stock index futures edged higher on Thursday, holding on to gains late in the previous session after the release of remarks from Janet Yellen, nominee to lead the Federal Reserve, while a slide in shares of Cisco weighed on Nasdaq futures.
NEW YORK, Nov 14- BlackRock Inc, a money manager that has long worked with the largest U.S. financial institutions, is now turning to the country's smaller banks, where it sees a promising market for exchange-traded corporate bond funds.
*Yen falls as Japan signals further intervention possible. In remarks prepared for her nomination hearing before a U.S. Senate Banking Committee later in the day, Yellen said high unemployment, weak inflation and an economy running below potential meant the Fed had "more work to do".
TOKYO, Nov 14- Japanese government bond prices were mostly up at midday on Thursday, ahead of the outcome of an auction of 5- year notes later in the session. As widely expected, the Ministry of Finance set the coupon of the new 5- year JGBs at 0.2 percent, unchanged from the previous month, re-opening the current issue.
SYDNEY, Nov 14- Investors made short shrift of the dollar early in Asia on Thursday after dovish comments from Fed Chairman-elect Janet Yellen suggested the U.S. central bank might not be near scaling back its stimulus, sending Treasury yields lower.
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.