U.S. Government

  • 2015-07-01 14:05


    --Four-Fifths See Liquidity Less in Treasuries Market Vs 2010
    --A Third Saw Considerable Worsening for Treasuries

    WASHINGTON (MNI) - The Federal Reserve's quarterly survey of senior bank credit officers Wednesday showed wide agreement that liquidity has deteriorated compared to 2010, particularly in the Treasuries market but extending to residential mortgage backeds and corporate bonds - and that regulations as well as internal risk management are to blame.

    The special questions on liquidity and the functioning in markets for underlying collateral showed four-fifths of those in the Treasuries market, half of those in the RMBS market and two fifths of those participants in the corporate bond market acknowledged deterioration in the past five years.

    The dec

  • 2015-07-01 13:59


    --Hill Ponders Combo of Highways, Taxes, Export-Import Bank Bills
    --But Each Issue Has Its Own Complications, Complexities
    --Congress May Decide To Pass Short-Term Extensions

    WASHINGTON (MNI) - Congress, as has been manifestly evident for some time, often has enough trouble dealing with one complicated issue at a time.

    So when lawmakers and congressional staff begin to discuss scenarios that combine several major issues into a large package it makes sense to view these scenarios with considerable skepticism.

    Still, there is a chance that the month of July will see legislative sausage making of considerable proportions, driven by deadlines related to the Export-Import Bank, surface transportation programs, and the ongoing talks about corporate tax reform.

  • 2015-07-01 10:02


    --Senior Senate Democrat Seeks Support
    --Senate GOP Aide: McConnell Likely To Defer To Committees

    WASHINGTON (MNI) - Chuck Schumer, the third ranking Senate Democrat, is trying to build congressional support for legislation that would allow Puerto Rico to declare Chapter 9 bankruptcy.

    Schumer said in a statement that he's working with Sen.

  • 2015-07-01 10:01


    WASHINGTON (MNI) - The following is a fact sheet released Wednesday by the Securities and Exchange Commission with details of the executive compensation clawback rules expected to be proposed for 60 days of comment shortly:

    Action

    The Commission will consider whether to propose rules directing national securities exchanges and associations to establish listing standards requiring companies to develop and implement policies to claw back incentive-based executive compensation that later is shown to have been awarded in error. The proposed rules are designed to improve the quality of financial reporting and benefit investors by providing enhanced accountability.

  • 2015-06-30 14:40


    By Denny Gulino

    WASHINGTON (MNI) - President Barack Obama Tuesday said Greece is a "substantial concern," particularly for Europe, but its predicament should not prompt market "overreactions" and so far, has not.

    "There has been an ongoing crisis in Greece dating back to 2009, 2010 and it is something I've been deeply involved with periodically working with our European partners," Obama said in a joint press conference with visiting Brazil President Dilma Rousseff.

    "It is an issue of substantial concern," he said, "primarily of concern to Europe."

    As he spoke the U.S.

  • 2015-06-30 09:50


    --Says Global Growth Forecast Has Weakened Since March
    --Estimates Fed Funds Rate To Average 1.1% in 2016, 2.3% in 2017

    WASHINGTON (MNI) - The following is a statement released Tuesday by Fitch Ratings, downgrading their forecast for the global economy on weaker growth prospects for advanced economies since March:

    "In its latest Global Economic Outlook (GEO) Fitch Ratings forecasts the global economy will grow by 2.4% in 2015, followed by 2.9% in 2016 and 2.8% in 2017, the new horizon added to the forecast. The pick-up in 2016 reflects a recovery from recession in Brazil and Russia, albeit a weak one; while the structural slowdown in China is weighing on global growth potential.

  • 2015-06-29 18:27


    --Updating 10:48 ET Story with White House/Treasury Comment, Fitch Downgrade

    WASHINGTON (MNI) - The White House and U.S. Treasury Department Monday again made it clear, there is no government bailout in store for Puerto Rico as the island now threatens default.

    On a day in which the markets and U.S. government economic officials were preoccupied with Greece and its default risk, Puerto Rico officials chose to make clear it can't service its $72 billion in debt. Island Gov.

  • 2015-06-29 14:58


    --Lawmakers Have Focused on Trade, Health Care, Spending
    --Iran Nuke Talks Dominate Foreign Policy Interest
    --Hearings on Greece Likely During July 6 Week

    WASHINGTON (MNI) - There was an unusual event on Capitol Hill last week, in addition to Congress finally approving long-lapsed trade promotion authority legislation: a U.S. congressional panel actually held a hearing on the economic situation in Greece.

  • 2015-06-29 10:48


    By Denny Gulino

    WASHINGTON (MNI) - The U.S. Treasury is chiming in with occasional statements urging a "pragmatic" solution for Greece, including debt relief, but mostly as a bystander rather than through its role as the IMF's dominant member. But the situation is different as Puerto Rico's crisis deepens, with the island's financial future very much a U.S. domestic affair.

    The drama of Greece wrestling with the EU and creditors, including the IMF, unexpectedly deteriorated over the weekend and an deadline for a repayment to the IMF looms Tuesday. A missed IMF payment would not be considered by the ratings firms to be a formal default and it take could the IMF months or years to declare a default.

  • 2015-06-26 16:33


    WASHINGTON (MNI) - U.S. Treasury Secretary Jack Lew met with French Economy Minister Emmanuel Macron. The following is a readout of the meeting from the U.S. Treasury Department:

    "Secretary Jacob J. Lew today met with French Economy Minister Emmanuel Macron to exchange views on the economic outlook and policies in the United States, France, and Europe. Secretary Lew began the meeting by condemning this morning's terror attack and expressing his condolences for the people of France.

    "Secretary Lew welcomed signs of stronger domestic demand in the euro area and France so far this year. Secretary Lew commended Minister Macron's efforts to advance France's structural reform agenda, which aims to stimulate private investment and increase competition.