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Taiwan dollar forwards rose for a third day on speculation Federal Reserve Chairman Ben S. Bernanke will signal the need to sustain stimulus policies that have spurred fund flows into emerging markets.
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The U.S. Supreme Court will rule on the reach of the 2002 Sarbanes-Oxley investor-protection law, agreeing to decide whether the law’s whistle-blower protections cover the employees of a publicly traded entity’s contractors.
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Taiwan’s dollar rose for the first time in four days as global funds added to their holdings of the island’s equities amid a government review on capital gains taxes. Bonds declined.
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Federal Reserve Bank of Philadelphia President Charles Plosser said he favors phasing out the Fed’s purchases of mortgage-backed securities.
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Taiwan’s dollar headed for a second weekly loss on speculation Asian policy makers will allow their currencies to weaken to safeguard exports after the yen fell to the lowest since 2008.
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BNP Paribas SA plans to boost its equity structured-products business in South Korea, a $42 billion market where France’s largest bank says it had been “underweight.”
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Wall Street banks collected $215.6 million that Denver’s public schools paid to unwind swaps and sell bonds since the district began borrowing to cut pension costs in 2008. That sum is about two-thirds of annual teaching expenses.
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The world’s top finance officials meeting last month were trying to commit jointly to reducing debt until Mark Sobel, a mid-level U.S. Treasury official who rarely speaks in public, led the charge to kill the effort.
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U.S. public officials should face regulatory sanctions if they make misleading statements about a municipality’s financial health, Securities and Exchange Commission member Daniel Gallagher said in a speech.
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Taiwan dollar forwards fell the most since January after a report showed exports weakened, fueling concern the central bank will curb currency appreciation to protect local manufacturers.
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