Eric Stein News
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The Dollar Index declined for the first time in three days as a survey of the Federal Reserve’s primary dealers said confusion about the central bank’s intentions for its bond-buying program may be hurting the effort’s effectiveness.
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The top lawyer at the U.S. regulator of national banks left a consulting job where she was paid $1.2 million and advised some of the biggest firms now overseen by her agency, her financial disclosures show.
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Eaton Vance Management, which oversees $198 billion, estimates South Korea’s won is 15 to 20 percent undervalued, making the nation’s bonds attractive on prospects the currency will appreciate.
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JPMorgan Chase & Co ., the second- biggest U.S. bank by assets, named Douglas Petno chief operating officer for commercial banking.
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Kang Man Soon wept on the day 15 years ago that she gave her gold wedding ring to the government, joining the millions who donated heirlooms to boost South Korea’s reserves during the Asian financial crisis.
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Central banks across five continents are undertaking the broadest reduction in borrowing costs since 2009 to avert a global economic slump stemming from Europe’s sovereign-debt turmoil.
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Treasuries fell for the first time in three weeks after a report showing the U.S. unemployment rate unexpectedly declined renewed concern the Federal Reserve’s commitment to strengthen the economy may stoke inflation.
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The failure of European leaders to contain the region’s debt crisis with a bailout of Ireland has driven relative borrowing costs in the global corporate bond market to a 12-week high.
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Birinyi Associates Inc.’s Jeffrey Yale Rubin said his firm is bullish on equities this year, leading managers expressing optimism that six straight weeks of declines in the stock market and weak economic data will be reversed in the second half.
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With Congress at an impasse on how to reduce the U.S. budget deficit, the biggest rally in government bonds since 2008 shows no signs of letting up even as yields are about the lowest on record.
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