Joseph Abate News
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Migrating inventors choose the U.S. over all other destinations, according to economists at the World Intellectual Property Organization in Geneva.
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The market for corporate borrowing through commercial paper contracted by the most in more than two years as U.S. money-market funds reduce purchases of the short- term IOUs.
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The rate banks say they pay each other for three-month dollar loans may rise to a one-year high if European policy makers fail to stymie investors’ concern the region’s debt crisis is worsening, according to Barclays Plc.
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The rate banks say they pay for three-month dollar loans may rise as a European Central Bank rescue fund winds down, analysts at Barclays Capital said.
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The market for U.S. Treasury bills is poised to shrink the most since early 2010, creating a shortage in the debt and helping keep government borrowing costs near record lows.
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The London interbank offered rate, the benchmark for $360 trillion of securities, may not survive allegations of being corrupted unless it’s based on transactions among banks rather than guesswork about the cost of money.
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A Standard & Poor’s plan to change the way it rates the credit risk of counterparties in repurchase agreements will boost costs for broker-dealers who draw cash through the arrangements and shrink the pool of liquid assets for money funds, according to industry participants.
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The European debt crisis is poised to flood U.S. banks with something they don’t want and can’t use: more money.
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A planned change in deposit insurance fees for U.S. banks may lower already near-zero short-term interest rates, according to strategists at Barclays Plc, Bank of America Merrill Lynch and the Royal Bank of Canada.
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Bank of New York Mellon Corp. will charge institutional clients a fee for unusually high deposits as a flight to safety pushed money-market rates below zero and left the largest custody bank flooded with client cash.
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