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Mar 7, 2011

Financial And Forex Info | The Australian Business Briefing: Confidence rebounds after floods, Yasi.

Update for Tuesday, 08 March 2011
Confidence rebounds after floods, Yasi
Cyclone James Glynn AUSTRALIAN business confidence rebounded strongly in February as firms shook off the short-term effects of floods and a cyclone.
Airline seats boosted on China routes
China Southern Steve Creedy, Aviation Writer AUSTRALIA and China plan to boost aviation capacity between the two countries by up to 50 per cent, or 8000 seats per week.
Nylon bike wheels in new future
3D printe product, Z Corp David Robertson A BICYCLE 'grown' from nylon leggings has engineers raving about the biggest step forward in manufacturing since the Industrial Revolution.
Euro omen as Australian dollar climbs
Australian dollar coins Stephen Bernard THE Australian dollar's marathon run higher against the US dollar could be reaching the finish line, setting up the currency for a collapse.
China bids for Extract's major investor
Uranium mine Robb M. Stewart EXTRACT Resources advised shareholders to take no action while it reviews a bid by China for its largest shareholder, Kalahari Minerals.
Google buys web video start-up
YouTube Scott Morrison GOOGLE has acquired web video development start-up Next New Networks as part of its effort to help content creators make money on YouTube.
Call for female board quotas draws flak
Joe Hockey James Massola and Ben Packham AUSTRALIA'S peak shareholders' body says women should be appointed to company boards according to their abilities, not arbitrary quotas.
Subway passes McDonald's in store race
DT Thumb Subway sex SUBWAY has stolen the fast food crown from long-time holder McDonald's, claiming more stores worldwide for the first time this week.
Financial Markets
Bargain buyers lift sharemarket
ASX THE Australian sharemarket slipped into positive territory by early afternoon as investors jumped on bargains.
Shares fall on oil price, soft CBA
Euro omen as Australian dollar climbs
Financial Markets Coverage
Mining & Energy
Shell keen to drill off Ningaloo reef
Ningaloo Reef Andrew Burrell SHELL has applied to drill for oil and gas less than 50km from the edge of prized Ningaloo Reef.
LNG production hits record in 2010
Lynas looks to sell deposit to Forge
More Mining & Energy Coverage

Financial And Forex Info: Daily Treasury Yield Curve

Date1 mo3 mo6 mo1 yr2 yr3 yr5 yr7 yr10 yr20 yr30 yr
Monday Mar 7, 2011, 4:22 PM
* 30-year Treasury constant maturity series was discontinued on February 18, 2002 and reintroduced on February 9, 2006. From February 18, 2002 to February 8, 2006, Treasury published alternatives to a 30-year rate. See Long-Term Average Rate for more information.
Treasury discontinued the 20-year constant maturity series at the end of calendar year 1986 and reinstated that series on October 1, 1993. As a result, there are no 20-year rates available for the time period January 1, 1987 through September 30, 1993.
Treasury Yield Curve Rates. These rates are commonly referred to as "Constant Maturity Treasury" rates, or CMTs. Yields are interpolated by the Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The yield values are read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a 10 year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity.
Treasury Yield Curve Methodology. The Treasury yield curve is estimated daily using a cubic spline model. Inputs to the model are primarily bid-side yields for on-the-run Treasury securities. See our Treasury Yield Curve Methodology page for details.
Negative Yields and Nominal Constant Maturity Treasury Series Rates (CMTs). Current financial market conditions, in conjunction with extraordinary low levels of interest rates, have resulted in negative yields for some Treasury securities trading in the secondary market. Negative yields for Treasury securities most often reflect highly technical factors in Treasury markets related to the cash and repurchase agreement markets, and are at times unrelated to the time value of money.
As such, Treasury will restrict the use of negative input yields for securities used in deriving interest rates for the Treasury nominal Constant Maturity Treasury series (CMTs). Any CMT input points with negative yields will be reset to zero percent prior to use as inputs in the CMT derivation. This decision is consistent with Treasury not accepting negative yields in Treasury nominal security auctions.
In addition, given that CMTs are used in many statutorily and regulatory determined loan and credit programs as well as for setting interest rates on non-marketable government securities, establishing a floor of zero more accurately reflects borrowing costs related to various programs.
For more information regarding these statistics contact the Office of Debt Management by email at
For other Public Debt information contact (202) 504-3550

Financial And Forex Info: Daily Treasury Bill Rates

           4 WEEKS13 WEEKS26 WEEKS52 WEEKS
Monday Mar 7, 2011, 4:27 PM
Daily Treasury Bill Rates: These rates are the daily secondary market quotation on the most recently auctioned Treasury Bills for each maturity tranche (4-week, 13-week, 26-week, and 52-week) that Treasury currently issues new Bills. Market quotations are obtained at approximately 3:30 PM each business day by the Federal Reserve Bank of New York. The Bank Discount rate is the rate at which a Bill is quoted in the secondary market and is based on the par value, amount of the discount and a 360-day year. The Coupon Equivalent, also called the Bond Equivalent, or the Investment Yield, is the bill's yield based on the purchase price, discount, and a 365- or 366-day year. The Coupon Equivalent can be used to compare the yield on a discount bill to the yield on a nominal coupon bond that pays semiannual interest.
For more information regarding these statistics contact the Office of Debt Management by email at
For other Public Debt information contact (202) 504-3550.

DateLT Real Average (10> yrs)

Hong Kong shares rise on property, coal stocks: MarketWatch- Market Pulse:

By V. Phani Kumar 

HONG KONG (MarketWatch) -- Hong Kong shares posted modest gains early Tuesday, with property developers and coal miners in the lead as sentiment improved on a small decline in crude-oil prices. The Hang Seng Index /quotes/comstock/08s!i:hsi (HK:HANGSENG 23,407, +93.44, +0.40%) rose 0.4% to 23,396.56 and the Hang Seng China Enterprises Index added 0.4% to 12,876.45. Shares of Cheung Kong Holdings Ltd. /quotes/comstock/22h!e:1 (HK:1 124.20, +0.90, +0.73%) /quotes/comstock/11i!cheuy (CHEUY 15.78, -0.23, -1.44%) and Sino Land Co. /quotes/comstock/22h!e:83 (HK:83 14.06, +0.08, +0.57%) each advanced 0.6%, while China Shenhua Energy Co. /quotes/comstock/11i!csua.y (CSUAY 43.85, +1.15, +2.69%) /quotes/comstock/22h!e:1088 (HK:1088 34.45, +0.45, +1.32%) rose 1.3% on optimism over coal-price outlook amid rising energy costs. Cnooc Ltd. /quotes/comstock/22h!e:883 (HK:883 18.12, -0.04, -0.22%) /quotes/comstock/13*!ceo/quotes/nls/ceo (CEO 230.95, +2.52, +1.10%) /quotes/comstock/16k!i:000001 (CN:SHCOMP 2,998, +1.66, +0.06%) slipped 0.1% after jumping 1.8% in the previous session slid 0.3% after front-month crude-oil prices gave up 38 cents to $105.06 a barrel. China's Shanghai Composite

MEPs Vote For Restriction on "Short Selling" / Moody's cut of Greece Debt | BBC Business News

8 March 2011 Last updated at 01:21 GMT

MEPs vote on short-selling rulesTrader in Frankfurt

MEPs vote in favour of restricting "naked" short selling, placing conditions on the use of credit defaults swaps.

Anti-austerity protesters in AthensGreece debt rating cut by Moody's

Rating agency Moody's downgrades Greece's debt to "highly speculative" prompting an angry response from the finance ministry.

A selection of new stories from The Economist March 7th 2011

Babbage: A high-fibre diet
Quiz: Well red
Asia View: Protests in Hong Kong
Baobab: Back to the bush
Daily chart: The elephant in the room
The Economist Asks: Is London losing its appeal as a financial centre?
Upcoming debate: "Incremental" v "disruptive" innovation

Financial And Forex Info | Kitco New York Market Close Report

New York Market Close Mar 07/11 05:20 PM EST

Evening Market Wrap

Evening Market Wrap
Monday, March 7, 2011

Stocks opened the week on a sour note on Monday, as the rising price of oil raised concerns about the economic impact of higher fuel prices. Oil prices closed above $105 a barrel, continuing to grab headlines amid ongoing unrest in key oil suppliers in the Middle East and North Africa.Full Article (Mar 7, 2011)
Corporate News
Telecommunications networking equipment maker Ciena Corp. (CIEN) on Monday reported a loss for the first quarter that widened from last year, as strong revenue growth was more than offset by higher costs. The company also forecast revenue for the second quarter below analysts' expectations, citing ERP-related supply chain constraints due to the effect of back office integration activity. Shares of the company are down almost 7 percent in pre-market activity. (Mar 7, 2011) Full Article
Intertek Group Plc (ITRK.L) reported profit attributable to equity holders of the company of 128.6 million pounds or 79.3 pence per share for fiscal 2010, compared to 114.7 million pounds or 71.2 pence per share last year. For the year, adjusted profit attributable to equity holders of the company rose to 144.9 million pounds or 89.4 pence per share from 131.4 million pounds or 81.5 pence per share in the prior year. (Mar 7, 2011) Full Article
Republic Airways Holdings Inc. (RJET) reported February traffic of 1.4 billion revenue passenger miles, flat with last year. Capacity for the period was 1.9 billion available seat miles, flat with last year. Load factor for the month was 73%, compared to 72% a year-ago. For the year-to-date period, traffic was 2.8 billion revenue passenger miles, compared to 2.9 billion revenue passenger miles last year. Capacity for the period was 4.0 billion available seat miles, compared to 4.1 billion available seat miles in the same period a year-ago. Load factor for the month was 72%, compared to 70% a year-ago. (Mar 7, 2011) Full Article
Data storage devices maker Western Digital Corp. (WDC) Monday announced a definitive deal to acquire Hitachi Global Storage Technologies, a unit of Japanese electronics company Hitachi, Ltd. (HIT), for about $4.3 billion in cash and stock. Western Digital expects the transaction to be immediately accretive to its adjusted earnings per share. Hitachi Global Storage Technologies or Hitachi GST was formed in 2003 through the strategic merger of the storage technology businesses of IBM Corp. (IBM) and Hitachi. (Mar 7, 2011) Full Article
The dollar pared a fraction of its recent losses versus the sterling, but continued to struggle against the resurgent euro on Monday, as comments Federal Reserve officials highlighted a growing divergence on monetary policy. Dall Fed boss Richard Fisher said he will almost uncertainly vote against any program that might seek to extend or enlarge current support measures, while colleague Dennis Lockhart of the Atlanta Fed said the central bank shouldn't rule out extending the asset purchases if the economy slows down in the first half of 2011. (Mar 7, 2011) Full Article
With an increase in non-revolving credit more than offsetting a drop in revolving credit, the Federal Reserve released a report on Monday showing that U.S. consumer credit increased by much more than expected in the month of January. (Mar 7, 2011) Full Article
Political News
Amid an ongoing Senate Ethics Committee investigation in connection with an extramarital affair, Nevada Senator John Ensign, R-Nev., announced Monday that he will not run for re-election in 2012. “I have come to the most difficult decision of my life,” Ensign said at a news conference in Las Vegas. “It has been difficult because I have never loved a job as much or been as honored to serve in any position than that of your senator.” (Mar 7, 2011) Full Article
First Lady Michelle Obama receives the “warmest” rating among American voters, according to a Quinnipiac survey gauging feelings about politicians and other national figures When asked to rate leaders from 0 to 100 degrees on a "feeling thermometer,” Michelle Obama topped the list at 60.1 degrees, while her husband President Barack Obama came in fourth at 56.5 degrees. (Mar 7, 2011) Full Article

Financial And Forex Info | The Australian Business Briefing: Wall St slides on oil, Intel concerns

Wall St slides on oil, Intel concerns
oil traders Donna Kardos Yesalavich and Kristina Peterson US stocks fell today on potential impact of rising oil prices amid more turmoil in Libya and on a downgrade that hurt the technology sector.
Oil price rises on Libyan conflict
oil Dan Strumpf US oil futures ended higher today as heavy fighting continued near key Libyan oil facilities amid risks of a long-term loss of Libyan oil.
Spalvins wants miner to tell full story
John Spalvins Damon Kitney FORMER Adelaide Steamship managing director John Spalvins has launched a campaign against one of India's most powerful conglomerates.
New crackdown on big banks
banks Scott Murdoch THE government will crack down on banks, with plans to scrap over-the-limit fees on credit cards and ban credit limit upgrades.
Greece angry as default risk at 20pc
Greece Nick Skrekas MOODY'S Investors Service says it considers debt-laden euro zone member Greece has a 20 per cent probability of default over five years.
Four time bombs ticking on Wall St
Wall St COMMENT Paul B. Farrell, MarketWatch ONLY a revolution will stop Wall Street's self-destructive capitalism.
Trans-Tasman companies counting cost
Christchurch quake Rowan Callick, Asia-Pacific editor THE many companies that straddle the Tasman Strait are only now able to start counting the true cost of the Christchurch earthquake.
Resolute hunts in Africa for assets
gold mining Devon Maylie RESOLUTE Mining is in the process of ramping up output this year and is on the hunt for new assets, the company's chief executive says.
Financial Markets
Oil price rises on Libyan conflict
oil Dan Strumpf US oil futures ended higher today as heavy fighting continued near key Libyan oil facilities amid risks of a long-term loss of Libyan oil.
Wall St slides on oil, Intel concerns
Wall St falls on weak Intel, high oil
Financial Markets Coverage
Mining & Energy
Shell keen to drill off Ningaloo reef
Ningaloo Reef Andrew Burrell SHELL has applied to drill for oil and gas less than 50km from the edge of prized Ningaloo Reef.
Oil price rises on Libyan conflict
Gold firm as investors seek shelter
More Mining & Energy Coverage