Week of August 7, 2011 thru August 13, 2011

TheFXSpot: Jaws 2011 - Not Yet Safe To Go Back Into The Water

By Vicki Schmelzer

NEW YORK, Aug 12 (MNI) - This week has been like a scene in the
1975 movie "Jaws," in that just when you thought it was safe to go into
the water, a shark came along and bites off your leg, if you were lucky.

US News Events Calendar

--Meetings & Events of Interest to Subscribers

DATE GMT / EST EVENT ------------------------------------------------------------------------

15-Aug 1725/1325 Atlanta Federal Reserve Bank President Dennis Lockhart speech on the economy to the Rotarty Club of Florence and Greater Shoals/Sheffield in Florence, Alabama.

17-Aug 1720/1320 Dallas Federal Reserve Bank President Richard Fisher speech on the Fed's function and monetary

US Debt Offering, Auction Calendar for Tsy and Agency Issues

August 12

Source: U.S. Treasury, Fannie Mae, Freddie Mac Amounts in billions of U.S. dollars

Auction/ Prev. Announce Pricing Settlement Maturity Auction Source Date Issue Date Date Date Size

Upcoming bills and coupon offerings:

UST 15-Aug-11 4-wk 16-Aug-11 18-Aug-11 --- 35.0 FNMA 15-Aug-11 3-mo 17-Aug-11 18-Aug-11 --- 1.0 FNMA 15-Aug-11 6-mo 17-Aug-11 18-Aug-11 --- 1.0

Talk From The Trenches: A Blessed Respite From Craziness

By Isobel Kennedy

NEW YORK, Aug. 12 (MNI) - Friday was the calmest day in the U.S.
financial markets in some time and the respite came just in the nick of

US Swaptions: OTC Vol Up On Day, In For Week, Listed Offered

By William Sokolis

CHICAGO, Aug 12 (MNI) - Over-the-counter swaption volatility looked
steady to firmer vs. the prior session Friday, and was mostly lower
compared to week ago levels.

Portfolios: Fixed Income Mgrs Brace For Slowdown, Not Recession

By Yali N'Diaye

WASHINGTON (MNI) - While a double-dip recession is clearly a rising
concern for financial markets, fixed income portfolio managers are not
giving up on growth, seeing value in corporates.

Analysis: 7 'Supers' To Set Fiscal Reform, Christmas Sked -1

By Denny Gulino

WASHINGTON (MNI) - If you are programming your super computer to
calculate the odds on another debt hike and huge spending cuts by the
end of the year, you better start now. The many intersecting variables
will make it a real chore.

Analysis: 7 'Supers' To Set Fiscal Reform, Christmas Sked -2

By Denny Gulino

Such analyses of the super committee members could go on for pages

Us Tsy Delays Rule To Uniquely Identify All Fin Mkt Partcipnts

--Additional Work Needed To Build International Consensus

By Brai Odion-Esen

WASHINGTON (MNI) - The U.S. Treasury Friday said it is delaying
until 2012 a proposed rule that would require the use of Legal Entity
Indentifiers -- a unique number identifying any legally distinct entity
that engages in financial market activities - in reporting to
regulators, citing the need for greater international agreement.

In a statement, the Office of Financial Research -- created by the
Dodd-Frank Act -- said although significant progress has been made to

Dudley Q/A: Don't Expect Double-Dip Recession, But Risks Up

--NY Fed President: Slower Growth, High Unemployment Give Pause
--But Still Expect Faster Growth in Second Half 2011
--S&P US Downgrade Should Reinforce US Commitment to Fiscal Reform
--US Treasury Market Shows No Doubt Re Fiscal Reform Commitment
--Retail Sales a Little Better Than Expected

By Claudia Hirsch

NEW YORK, Aug 12 (MNI) - New York Federal Reserve Bank President
William Dudley Friday said he doesn't foresee a double-dip recession,
though the chances of one have increased as the recovery has cooled.

"When the economy is growing more slowly," Dudley said, answering