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  • CHICAGO, July 31- Budget deficits are projected to persist for Chicago as pension and debt costs gobble up more revenue, according to an annual financial analysis released by the city on Friday. If Illinois fails to enact legislation easing Chicago's payments to its public safety retirement systems, the deficit could be even higher. Chronic structural budget...

  • ANALYSIS-Liquidity risks overhang high-yield ETFs Friday, 31 Jul 2015 | 4:14 PM ET

    NEW YORK, Aug 2- Shareholders in the AdvisorShares Peritus High Yield ETF who sold in late 2014 are probably not the last to pay up for liquidity risk, a growing hazard for some fixed-income investors bracing for the first Federal Reserve interest rate hike in nearly a decade. Fixed-income high yield ETFs have grown to $37 billion in assets, up from about $10...

  • July 31- Wall Street was mixed on Friday as a drop in energy companies' stocks was offset by expectations the U.S. Exxon Mobil shares fell 3.5 percent while Chevron was down 3.9 percent after reporting poor quarterly earnings due to weak oil prices. This definitely puts a lower probability on that, "said Stanley Sun, interest rate strategist at Nomura Securities...

  • NEW YORK, July 31- Puerto Rico on Friday planned to cover a payment due on debt owed by its development bank, a source familiar with the matter said, but the U.S. territory may still be short of the funds needed to pay all of the obligations due on Saturday. But Puerto Rico is expected to default on a $58 million payment on Public Finance Corporation bonds due Saturday...

  • Employment Cost Index barely rises in Q2. NEW YORK, July 31- U.S. The Employment Cost Index, the broadest measure of labor costs, rose 0.2 percent, marking the smallest increase in the index's 33- year history, the U.S. Labor Department reported.

  • Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt- totaling $72 billion- was unpayable and required restructuring. Puerto Rico has flagged that it will likely skip a $58 million payment due Aug. 1 on its Public Finance Corporation debt, which has weaker investor protection than some other bonds.

  • NEW YORK, July 31- As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners of the U.S. bond market are not waiting around. Banks, money market mutual funds and other investors do not want to be stuck with low-yielding debt when the U.S. central...

  • Employment Cost Index barely rises in Q2. NEW YORK, July 31- U.S. The Employment Cost Index rose just 0.2 percent, the U.S. Labor Department reported, marking the smallest increase in the 33- year history of the index that is the broadest measure of labor costs.

  • Who needs the Fed? The rate hike cometh on its own Friday, 31 Jul 2015 | 8:00 AM ET

    NEW YORK, July 31- As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners of the U.S. bond market aren't waiting around. Banks, money market mutual funds and other investors want to avoid being stuck with low-yielding debt when the U.S....

  • BEIJING, July 31- China's financial futures regulator will tighten rules governing trading that it regards as "irregular" to tackle what it sees as excessive speculation in the markets, it said on Friday. The China Financial Futures Exchange will classify some arbitrage and speculative activity in stock index futures as "irregular" it said in a statement on its...

  • LONDON, July 31- OPEC policymakers seem confident in a sustained recovery of oil prices from this year's lows as demand improves, but the derivatives market is geared for an alternative scenario: a fall below $50 a barrel by the end of the year. But it is also when the Organization of Petroleum Exporting Countries holds its twice-yearly meeting.

  • HONG KONG/ SHANGHAI, July 31- China plans to raise $160 billion in bonds to fund infrastructure projects over the next few years, sources said, in a sign Beijing is intent on stepping up investment to spur the economy and making good on huge but vague spending pledges. "It's indicative of the leadership's desire to stabilize the overall economy and investment, and...

  • JGBs mostly steady, superlong zone edges up Friday, 31 Jul 2015 | 3:06 AM ET

    TOKYO, July 31- Japanese government bond prices were mostly steady on Friday, pulling ahead slightly at the longer end. The Bank of Japan offered to buy 375 billion yen of JGBs in the 1- year to 5- year zone, 425 billion yen of JGBs in the 3- year to 5- year zone, and 400 billion yen of JGBs in the 5- year to 10- year zone under its JGB purchase programme.

  • HONG KONG/ SHANGHAI, July 31- Agricultural Development Bank of China, one of China's main policy lenders, and other development banks will issue over 1 trillion yuan of new bonds in coming years to fund lending for infrastructure projects, three people with direct knowledge of the plans told Reuters. The bonds will be issued in multiple tranches, the first as soon...

  • Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt- totaling $72 billion- was unpayable and required restructuring. Puerto Rico has flagged that it will likely skip a $58 million payment due Aug. 1 on its Public Finance Corporation debt, which has weaker investor protection than some other bonds.

  • HONG KONG, July 31- China stocks fell on Friday and looked set to suffer their biggest monthly loss in nearly six years even as Beijing rolled out a series of support measures and promised to step up efforts to bolster the flagging economy. China CSI300 stock index futures for August fell 0.1 percent to 3,678.6, but was still 133.74 points below the current value of...

  • China stocks fall at market open Thursday, 30 Jul 2015 | 9:27 PM ET

    SHANGHAI, July 31- China stocks fell on Friday morning at market open. The CSI300 index fell 1.0 percent to 3,777.15 points at 1:26 GMT, while the Shanghai Composite Index lost 1.4 percent to 3,655.67 points. China CSI300 stock index futures for August fell 0.3 percent, to 3,668.4, 108.75 points below the current value of the underlying index.

  • Protestors target hedge fund holding Puerto Rico debt Thursday, 30 Jul 2015 | 4:54 PM ET

    NEW YORK, July 30- Protestors carrying a vulture puppet and chanting in Spanish marched outside the Park Avenue offices of a major holder of Puerto Rico's debt on Thursday to protest proposed austerity measures. The approximately 45 protestors from Hispanic community organizations slammed BlueMountain Capital Management, which holds Puerto Rico...

  • NEW YORK— Imagine the bond market as a crowded swimming pool, except it's one where the water level drops whenever someone tries to leave. By the time you attempt to get out, you're stuck at the bottom, unable to exit because the ladder is 10 feet above your head. "I think liquidity is misunderstood, and I think it is often taken for granted," says Matt Freund, chief...

  • NEW YORK, July 30- U.S. Economic growth in the United States accelerated in the second quarter to a 2.3 percent annual rate, backed by solid consumer demand. That's really what the market price action is about, "said David Ader, fixed income strategist at CRT Capital in Stamford, Connecticut.