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Friday, September 20, 2013

Reuters Money: When the Fed throws markets for loop

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09/20/2013

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

When the Fed throws markets for loop

NEW YORK (Reuters) - In the minutes before Wednesday's statement from the U.S. Federal Reserve, traders knew what to expect. Or so they thought.

Exclusive: Univision in talks with banks about 2014 IPO - sources

NEW YORK (Reuters) - U.S. Spanish-language broadcaster Univision Communications Inc has in recent weeks held discussions with banks about an initial public offering, according to three people familiar with the matter, as strong stock markets encourage private equity owners to seek exits for their portfolio companies.

U.S.-based stock funds attract $18.1 billion in latest week: Lipper

NEW YORK (Reuters) - Investors in funds based in the United States poured $18.1 billion into stock funds in the latest week as global markets rallied on expectations the Federal Reserve would maintain its easy-money policies, data from Thomson Reuters' Lipper service showed on Thursday.

Buffett lauds Bernanke but laments lack of investment bargains

(Reuters) - Warren Buffett said on Thursday he would recommend reappointing Ben Bernanke as Federal Reserve chairman, while adding that low interest rates have inflated asset values and complicated his hunt for investments at his company Berkshire Hathaway Inc.

U.S. FINRA sets official tone for economic review of rules

(Reuters) - The Financial Industry Regulatory Authority, the self-funded securities industry watchdog, on Thursday issued a framework to aid its staff in analyzing the costs and benefits of its rules and provide a public a roadmap of its process.

U.S. economy shows signs of shrugging off higher interest rates

WASHINGTON (Reuters) - U.S. home resales surged in August to a 6-1/2-year high and factories grew busier in the Mid-Atlantic region this month, signs that rising borrowing costs are weighing only modestly on the economy.

Exclusive: ETF 'godfather' Browne to join Cantor Fitzgerald

NEW YORK (Reuters) - Reggie Browne, the former head of the exchange-traded funds team at KCG Holdings Inc, is joining Cantor Fitzgerald's ETF market making team, two sources familiar with the situation told Reuters Thursday.

FINRA tightens screws on Wall Street broker bonus disclosures

(Reuters) - Wall Street brokers must keep their clients in the loop about bonuses they receive when the brokers switch firms, under a preliminary measure approved by the Financial Industry Regulatory Authority's board on Thursday.

JPMorgan's Whale deal with regulators leaves much unsettled

(Reuters) - The "London Whale" trading scandal, once dismissed as a "tempest in a teapot" by JPMorgan Chase & Co CEO Jamie Dimon, is costing the largest U.S. bank $920 million in penalties and a rare public admission of wrongdoing.

U.S. municipal bond funds see smallest outflows in five weeks: Lipper

WASHINGTON (Reuters) - U.S. municipal bond funds reported $1.1 billion of net outflows in the week ended September 18, compared with $1.9 billion in outflows in the previous week, according to data released by Lipper on Thursday.