Week of March 11, 2012 thru March 17, 2012

China Trade Deficit Widest Since 1989 On Export Weakness


BEIJING (MNI) - China's monthly trade deficit in February ballooned to its widest since 1989 as a weak global economy weighed on exports and as imports surged following the New Year holiday.

Exports rose 18.4% y/y to $114.47 billion in February, the General Administration of Customs said Saturday, lower than the median 32.0% rise forecast by economists, according to a Market News International survey. Imports surged 39.6% y/y to $145.95 billion last month, outpacing the forecast 30.0%, resulting in a $31.48 billion monthly trade deficit.

That was far higher than the $10 billion deficit forecast by economists and is the biggest since December 1989's $66 billion gap.

Repeat: US Government Agencies Comparing Notes On Algo Feeds


WASHINGTON (MNI) - The concern of U.S. government data providers over what they call "data packets," the transmission of low latency feeds of economic statistics for algorithmic trading, has the potential to become a big concern for the data vendors.

Repeat: U.S. Government Agencies Comparing Notes On Algo Feeds


WASHINGTON (MNI) - The concern of U.S. government data providers over what they call "data packets," the transmission of low latency feeds of economic statistics for algorithmic trading, has the potential to become a big concern for the data vendors.

US News Events Calendar


--Meetings & Events of Interest to Subscribers

DATE GMT / EST EVENT

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13-Mar 1914/1414 Federal Open Market Committee announces its monetary policy decision.

14-Mar 1400/0900 Federal Reserve Chairman Ben Bernanke speaks to the Independent Community Bankers Association conference in Nashville.

15-Mar 2300/1900 Treasury Secretary Tim Geithner speaks to the Economic Club of New York. econclubny.com/

16-Mar 1900/1500 Chicago Federal Reserve Bank Pres.

IMF's Lagarde: To Recommend $36.7 Bln Greece Aid Over 4 Years


WASHINGTON (MNI) - In the wake of "significant financial contributions" by the Eurozone nations and the private sector to Greece, IMF Managing Director Christine Lagarde said Friday she will recommend $36.7 billion in aid for the debt-laden EMU member.

"Today I have consulted with the IMF's Executive Board and on that basis, as discussed with the Greek government, I intend to recommend a 28 billion (about US$36.7 billion) arrangement under the Fund's Extended Fund Facility (EFF) to support Greece's ambitious economic program over the next four years," the head of the International Monetary Fund said in a statement.

TheFXSpot: China, US Data, EZ Events Fail To Inspire Investors


NEW YORK, Mar 9 (MNI) - Mixed Chinese data, a deemed successful Greek private sector debt swap and an upbeat U.S. non-farm payrolls report underpinned risk appetite Friday, but did not inspire global investors to enter into risk positions more aggressively.

US Debt Offering, Auction Calendar for Tsy and Agency Issues


March 9

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

US$ CREDIT SUPPLY PIPELINE - March 9, 2012


Investment-grade $250M+ Deals Announced/Launched(#)/Priced(*)/Pass(X) Date $MM Issuer/CR/Descr Mat Yield Lead(s) 3/9 1000 *The Coca-Cola Co (Aa3/A+) 2 3mL-5 UBS/BAML/DB/ FRN HSBC 3/9 1000 *The Coca-Cola Co (Aa3/A+) 3 T+35 UBS/BAML/DB/ HSBC 3/9 750 *The Coca-Cola Co (Aa3/A+) 6 T+80 UBS/BAML/DB/ HSBC 3/9 400 *Kimco Realty (Baa2/BBB-) perp 6.00% BAML/C/UBS/WFS Non-callable 5s 3/8 600 *Xerox Corp (Baa2/BBB-) FRN 1.5 3mL+140 BAML/BNP/C/JPM 3/8 500 *Xerox Corp (Baa2/BBB-) 5 T+210 BAML/BNP/C/JPM 3/8 600 *Simon Pro

U.S. Government Agencies Comparing Notes On Algo Feeds


WASHINGTON (MNI) - The concern of U.S. government data providers over what they call "data packets," the transmission of low latency feeds of economic statistics for algorithmic trading, has the potential to become a big concern for the data vendors.

FXWRAP: Dlr Surges On Upbeat Payrolls, Greek PSI/Default


NEW YORK, March 9 (MNI) - The dollar was holding robust gains over the euro and the yen as the week wound down Friday, the greenback bolstered by a strong U.S. employment report that somewhat overshadowed confirmation of progress in the marathon restructuring of Greek debt.

Euro-dollar was changing hands at $1.3110 in afternoon dealings, the euro in the lower reaches of the day's $1.30965-1.3224 range after beginning the day near the high.

Dollar-yen meantime was changing hands at Y82.50, holding the upper end of its Y81.76-82.65 U.S. hours range after beginning the day at the low.

Afternoon action was at a modest pace with the dollar holding the bulk of the gains scored after a robust U.S. employment report in the morning.