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  • NEW YORK, Aug 27- Caesars Entertainment Corp on Thursday moved a step closer toward a possible trial with bondholders, as a Manhattan federal judge refused to hold the gaming company liable to help repay $7 billion of debt owed by its main operating unit. District Judge Shira Scheindlin rejected requests by bond trustees BOKF NA and UMB Bank NA that Caesars be...

  • NEW YORK, Aug 27- Most U.S. Treasuries prices were modestly lower on Thursday, as a rally on Wall Street and a surprisingly large upward revision on U.S. economic growth in the second quarter revived some bets the Federal Reserve would raise rates by year-end. The Commerce Department said U.S. gross domestic product grew at a 3.7 percent annual pace in the quarter...

  • Some of the largest U.S. fund managers rely on BNY Mellon to calculate the net asset value of their funds but a failed software upgrade last weekend buckled the system just as investors headed into a tumultuous week of trading sparked by fears about the Chinese economy. "BNY Mellon is the plumber to mutual funds and capital markets," said Mike Mayo, a banking analyst...

  • NEW YORK— Do the stock market's big swings have you feeling helpless? Although you can't control what happens in Shanghai-- or the fact that troubles in China can drag down stocks here by 10 percent in just over a week-- you do have control over one crucial factor affecting your portfolio: how much you pay in expenses. They paid an average of $54 in fees for every $10,000...

  • Fund managers rely on BNY Mellon to calculate the net asset value or NAVS of their funds but a failed software upgrade over the weekend floored its system just as investors were heading into a tumultuous week of trading sparked by fears about the Chinese economy.. "The system is up although some performance issues remain," BNY Mellon spokesman Kevin Heine said on...

  • TREASURIES-U.S. bond prices fall on stock gains, GDP data Thursday, 27 Aug 2015 | 11:10 AM ET

    *U.S. to sell $29 bln 7- year notes. NEW YORK, Aug 27- Most U.S. We have retraced the whole move since last week's global market sell-off, "said Thomas Roth, executive director of U.S. government bond trading at Mitsubishi UFJ Securities USA in New York.

  • Ukraine's bondholders jump at debt restructuring deal Thursday, 27 Aug 2015 | 10:53 AM ET

    LONDON, Aug 27- Ukraine's bondholders expressed relief on Thursday after the conflict-hit country offered them more generous terms than expected in their long-running debt restructuring talks. Though they will take a 20 percent cut to the headline value of their bonds and uncertainty remains around Russia, the pain was offset by a relatively short 4- year...

  • BNY Mellon still having problems with fund pricing system Thursday, 27 Aug 2015 | 10:00 AM ET

    BOSTON, Aug 27- BNY Mellon Corp said on Thursday there are still problems with a computer system it relies on to calculate the prices of mutual fund and exchange-traded funds.

  • BEIJING, Aug 27- China has expanded its debt-for-bond swap programme for local governments to 3.2 trillion yuan from 2 trillion yuan, state news agency Xinhua quoted Finance Minister Lou Jiwei as saying on Thursday. The programme, which is meant to ease the financing pressure on China's heavily indebted local governments, has been steadily expanded from a...

  • Aug 27- U.S. stock index futures rose sharply on Thursday, a day after Wall Street posted its biggest one-day gain in four years. *Stocks soared on Wednesday after New York Fed President William Dudley said the case for a September rate hike seemed "less compelling" than before. *Dudley's dovish comments came a day before many of the world's top central bankers gather...

  • Ukraine reaches debt relief deal with creditors Thursday, 27 Aug 2015 | 5:54 AM ET

    As part of the deal, investors who own Ukraine's bonds will write off 20 percent of their holdings, shrinking $19 billion in sovereign debt to $15.5 billion, Prime Minister Arseniy Yatsenyuk told the government. Ukraine will pay nothing on its bonds if its economy grows less than 3 percent annually. The IMF announced in February it would raise some $40 billion for...

  • SHANGHAI, Aug 27- China's yuan closed firmer against the dollar on Thursday as traders cited large transactions by state-owned banks possibly on behalf of the central bank, which supported the Chinese currency in both spot and derivative markets. "Major state banks did some large deals, supporting the yuan's value," said a dealer at a European bank in Shanghai.

  • TOKYO, Aug 27- Japanese government bond prices slipped on Thursday as Tokyo stocks extended gains on the back of ebbing risk aversion. Two-year JGBs have attracted steady investor demand as the Bank of Japan's debt-buying scheme has made short-term six-month and one-year bills in short supply. Japan's Nikkei share average rose one percent on Thursday, adding...

  • SHANGHAI, Aug 27- China's major stock indexes rose on Thursday as a strong rebound on Wall Street helped calm global markets after days of wild volatility. China CSI300 stock index futures for September rose 4.1 percent, to 2,938.6, 154.21 points below the current value of the underlying index. The Hang Seng index in Hong Kong was up 3.2 percent, to 21,758.62 points.

  • Poor U.S. bond sales raise concerns about foreign demand Wednesday, 26 Aug 2015 | 7:40 PM ET

    Treasury auctions this week has bond mavens wondering if China and other emerging market central banks are spending their foreign exchange reserves at home to offset investor flight during market turbulence rather than buying U.S. debt. The selling pressure was pronounced enough to prompt prominent bond market players to wonder if these long-time buyers,...

  • BNY Mellon said an accounting system it relies on to calculate the prices of clients' mutual funds and exchange traded funds broke down over the weekend just as investors headed into a global market meltdown sparked by fears over the Chinese economy. The system, run by financial software provider SunGard, resumed with limited capacity on Tuesday but was still...

  • NEW YORK, Aug 26- Longer-dated U.S. Treasuries prices stumbled on Wednesday after a top Federal Reserve official scaled back his view of a rate increase in September in the wake of market turbulence stemming from worries about China's economy. The movement of the yield curve is consistent with Dudley's comments, "said Gene Tannuzzo, portfolio manager at...

  • UPDATE 1-BNY Mellon says fund pricing system collapsed Wednesday, 26 Aug 2015 | 2:54 PM ET

    BNY Mellon blamed the pricing glitch on a system used by financial software provider SunGard. BNY Mellon spokesman Kevin Heine said he did not know how many funds had been affected. BNY Mellon was able to construct Monday net asset values for all affected funds.

  • BNY Mellon experiences problems with NAV calculations Wednesday, 26 Aug 2015 | 2:09 PM ET

    BNY Mellon was not available for comment. First Trust, which manages several exchange-traded funds, said on Wednesday in a statement that the net asset value of some of its funds contained errors greater than 1 percent. "The errors resulted from a technical malfunction at our third party administrator, the Bank of New York Mellon," First Trust said.

  • BNY MELLON EXPERIENCES PROBLEMS WITH NET ASSET VALUE CALCULATION FOR FUNDS- SOURCES.