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Mar 21, 2011

Financial And Forex Info | The Australian Business Briefing: La Nina threat to coal, agri sectors

La Nina threat to coal, agri sectors
agriculture, hunter valley, scone David Fickling and Ray Brindal AN above-average chance of excess rainfall in eastern Australia threatens continued disruption to agricultural and coal-mining operations.
Armz lowers Mantra offer by 12.3pc
Uranium Michael Bennet RUSSIA'S Armz has lowered its offer for uranium miner Mantra Resources by 12.3 per cent to about $944 million.
BC Iron asks panel to reinstate bid
Iron ore Sarah-Jane Tasker IRON ore junior BC Iron has asked the Takeovers Panel to enforce Regent Pacific to proceed with its $345 million bid for the Pilbara miner.
New Hope profit jumps on Arrow sale
Coal David Fickling NEW Hope's first-half net profit more than tripled after the coal miner sold its stake in Arrow Energy to Royal Dutch Shell and PetroChina.
Murchison flags Oakajee cost blowout
PN 75 IMG Generic Business Oakajee UPDATED Andrew Burrell MURCHISON Metals expects a cost blowout at its Oakajee port and rail project, as the market questions its ability to succeed with the plans.
Ezcorp in control of Cash Converters
cash conveters Michael Bennet THE Nasdaq-listed Ezcorp has moved to a controlling 53 per cent stake in Cash Converters International via a $70 million deal.
NAB resolves capital raising dispute
NAB Gavin Lower NAB said today about $142 million has been wiped off its tax bill after it resolved a dispute over the treatment of a capital raising.
Euro zone sets permanent bailout fund
euro Sam Fleming and David Charter EURO-ZONE nations have agreed to set up their permanent bailout fund with a capital base of 700 billion euros to ensure a triple-A rating.
Financial Markets
Shares pare gains as oil producers dip
stock market THE sharemarket had lost some steam by early afternoon, trading off its highs of the session as profit-takers struck the oil sector.
Shares rise after Wall St's rally
Wall St gains as M&A boosts confidence
Financial Markets Coverage
Mining & Energy
Rare earths topped FIRB agenda
Aus Bus Pix Lynas Corp Enda Curran and David Fickling AUSTRALIA'S foreign investment watchdog discussed rare earths at its December meeting, just weeks after the government pledged to supply Japan.
Murchison flags Oakajee cost blowout
BC Iron asks panel to reinstate bid
More Mining & Energy Coverage

Daily Treasury Long Term Rate Data   Daily Treasury Long Term Rate Data

Monday Mar 21, 2011, 4:36 PM
Treasury Long-Term Average Rate and Extrapolation Factors. Beginning February 18, 2002, Treasury ceased publication of the 30-year constant maturity series. Instead, from February 19, 2002 through May 28, 2004, Treasury published a Long-Term Average Rate, "LT>25," (not to be confused with the Long-Term Composite Rate, definitions below). In addition, Treasury published daily linear extrapolation factors that could be added to the Long-Term Average Rate to allow interested parties to compute an estimated 30-year rate. On June 1, 2004, Treasury discontinued the "LT>25" average due to a dearth of eligible bonds. In place of the "LT>25" average, Treasury published the Treasury 20-year Constant Maturity rate on this page along with an extrapolation factor that was added to the 20-year Constant Maturity to obtain an estimate for a theoretical 30-year rate. On February 9, 2006, Treasury reintroduced the 30-year constant maturity and is no longer publishing the extrapolation factor.
The Long-Term Average Rate, "LT>25," was the arithmetic average of the bid yields on all outstanding fixed-coupon securities (i.e., excluding Inflation-Indexed securities) with 25 years or more remaining to maturity. This series first appeared on February 19, 2002, following discontinuation of the 30-year Treasury constant maturity series. Subsequently, the "LT>25" average was discontinued on June 1, 2004.
Linear Extrapolation Factors were determined by considering the slope of the yield curve at it's long end and extrapolating out to a theoretical 30-year point. To use the Extrapolation Factor to determine a 30-year proxy rate, add the factor to the 20-year Constant Maturity Rate. For example, if on a particular day the 20-year Constant Maturity was 5.40% and the Extrapolation Factor was 0.02%, then a 30-year theoretical rate would have been 5.40% + 0.02% = 5.42%. Publishing of the Linear Extrapolation Factors was discontinued on February 9, 2006 with the reintroduction of the 30-year Constant Maturity Rate.
The Long-Term Composite Rate is the unweighted average of bid yields on all outstanding fixed-coupon bonds neither due nor callable in less than 10 years.
For more information regarding these statistics contact the Office of Debt Management by email at

The Economist | Selected New Articles

Newsbook on Libya: What a difference a day makes
Americas view: A welcome as warm as the weather
Newsbook: The Arab awakening reaches Syria
Daily chart: The cost of natural disasters
Newsbook: The return of French diplomacy
Quiz: Well red

F & F I | CFTC : CFTC Charges Florida Resident Jeremy M. Globe and his Company, GlobeFX Club, Inc for false statements made to the NFA.

The CFTC filed an enforcement action charging defendants Jeremy Munson Globe and GlobeFX Club, Inc., both of Homestead, Fla., with making false, fictitious or fraudulent statements or omissions to the National Futures Association (NFA) during an NFA investigation and audit.

CFTC Charges Florida Resident Jeremy M. Globe and his Company, GlobeFX Club, Inc., with Making False Statements to the National Futures Association

F & F I | CFTC and State of California Charge The Trade Tech Institute, Inc., Technology Trading International, Inc., Robert Sorchini and Richard Carter with Fraudulently Soliciting More than 600 Managed Commodity Trading Accounts

The CFTC today announced that a federal court in Los Angeles entered a restraining order against defendants The Trade Tech Institute, Inc., Technology Trading International, Inc., Robert Sorchini and Richard Carter freezing defendants’ assets, prohibiting the destruction or alteration of their books and records, and requiring defendants to provide an accounting of all funds and assets under their control.

 CFTC and State of California Charge The Trade Tech Institute, Inc., Technology Trading International, Inc., Robert Sorchini and Richard Carter with Fraudulently Soliciting More than 600 Managed Commodity Trading Accounts

Financial And Forex Info : SEC Charges Three Firms and Four Individuals in Los Angeles-Based Boiler Room Operation.

The Securities and Exchange Commission today charged three firms and four individuals involved in a boiler room scheme operating out of Los Angeles that defrauded investors who they persuaded to buy purportedly profitable trading systems.

SEC Charges Three Firms and Four Individuals in Los Angeles-Based Boiler Room Operation

Financial And Forex Info | Treasury to Begin Orderly Wind Down of Its $142 Billion Mortgage-Backed Securities Portfolio

NYT: Afternoon Business News: No Urgent Changes Seen for U.S. Nuclear Plants


No Urgent Changes Seen for U.S. Nuclear Plants

Inspectors at each nuclear site have been told to double-check that emergency precautions mandated years ago were still in place, an American official said on Monday.

Global Stocks Maintain Gains as AT&T Deal Offsets Rising Oil Prices

AT&T's deal to acquire T-Mobile USA for $39 billion lifted the Dow industrials back above 12,000 despite unrest in the Middle East and military action in Libya.

How the iPhone Led to the Sale of T-Mobile USA

Until Apple introduced its highly popular device in 2007, Deutsche Telekom had been generating rising sales from its American operation.

The Regulatory Risk in the AT&T Deal

Part of the game will be for AT&T to show to regulators that the acquisition of T-Mobile is a net gain for consumers.

High Court Denies Bid to Bar Details of Fed Bailout

The Supreme Court refused to hear an appeal from an association of bankers trying to keep the names of financial institutions that received Federal Reserve loans from becoming public.

Financial And Forex Info: The Australian Capital Circle: Newspoll bounce back for Gillard

Capital Circle Newsletter

Newspoll bounce back for Gillard
There's some rare good news for Julia Gillard today as she forges ahead with her carbon tax sales pitch.

The PM's day: Julia Gillard will be interviewed by 3AW's Neil Mitchell after 8.30am. She'll attend caucus at 9.30am and question time at 2pm.
Opposition leader's diary: Tony Abbott has been on 2UE this morning. He'll attend Liberal and Coalition party room meetings this morning and question time later today.
Work it #1: Not to be outdone by Tony Abbott or John Howard for that matter, Julia Gillard has been pounding the pavement in tracksuit and sneakers. Inner-south Canberrans tell Capital Circle she's been spotted on morning power walks, with security detail in tow.
Work it #2: Of course, Tony Abbott's adrenaline addiction is of an entirely different order. His daily fix was interrupted by parliamentary business yesterday, forcing the well-toned Tone to attend a division in his gym gear.
Happy Birthday: We hear Tony Abbott's chief of staff Peta Credlin is celebrating a milestone birthday this week. The Opposition leader is throwing her a party in his office tomorrow night. We hear Liberal MPs and staffers have been invited over for a few drinks.
Your 7¢: Also tomorrow night at Parliament House, the ABC will present its annual showcase to MPs. Auntie's managing director Mark Scott will run MPs through the latest happenings at the national broadcaster. (Note to Senator Fierravanti-Wells: It's not Senate Estimates)
Meeting of the minds: Trade Minister Craig Emerson is having a tough time trying to convince Labor MPs of the excitement that is the Doha Round. A recent briefing for caucus members on trade issues attracted just one interested MP - fellow wonk and Member for Fraser Andrew Leigh. We hear it was a very long meeting despite the poor attendance.
Free advertising: Department of Immigration media chief Sandi Logan would like to thank the Opposition for the flood of applications yesterday for six vacancies on his communications team. Shadow SMOS Bronwyn Bishop questioned the appointments in parliament yesterday, warning the government couldn't spin the boats away. Logan says he won't bother advertis

Financial And Forex Info: Reuters Technology Report


AT&T's planned buy of T-Mobile USA is ultimately expected to get regulatory approval, combining the second and fourth largest wireless operators to create a new leader that will control around 43 percent of the U.S. wireless market. AT&T CEO Randall Stephenson suggested he had little choice but to do it as AT&T is in dire need of more wireless airwaves to increase network capacity for mobile Web services.

Google announced that it's partnering with Sprint to integrate the free calling and texting service Google Voice with the carrier's feature phones and smartphones. Sprint customers will be able to use their existing Sprint mobile number as their Google Voice number.

Nokia's strategy for entering the tablet computer market may not include Microsoft, its recently announced partner for smartphones, according to a person with knowledge of the company's thinking.

Microsoft widened its legal assault on devices running on Google's Android system, filing lawsuits for patent infringement against bookseller Barnes & Noble over its Nook electronic book reader.

Facebook's creation of a mobile payment subsidiary and registration of it in a number of states could signal the social network's intent to get more broadly involved in the payments business, writes VentureBeat's Owen Thomas. Bypassing credit-card processing fees from its Facebook Credits business and the possible creation of an ad network to rival Google’s AdSense were seen as potential driving factors.

Financial And Forex Info | Kitco New York Market Close Report

New York Market Close Mar 21/11 05:20 PM EDT

ABC NEWS | Australia Morning BusinessNews: Lehman expected CDO market to worsen.

Lehman expected CDO market to worsen
The local arm of collapsed US investment bank Lehman Brothers expected the market for complex investments linked to mortgages and corporate debt to deteriorate before the onset of the subprime crisis in the US housing market, according to Lehman's internal documents.

US stocks climb for third day
Investor's confidence rose again overnight in the US, with benchmarks on Wall Street making their biggest three day gains this year.

BC Iron appeals after bid falls over
Junior iron ore producer BC Iron says it will go to the Takeovers Panel in the hope of forcing Hong Kong-based Regent Pacific to continue with a takeover bid.

Financial And Forex Info | Reuters - Daily Investor Update: AT&T's big deal lifts Wall Street


AT&T's big deal lifts Wall Street
NEW YORK (Reuters) - Buyers emerged on Monday in U.S. stocks, enticed by the biggest proposed merger of the year, though crises in Japan, the Middle East and North Africa meant market volatility would continue. | Full Article

Home sales tumble, prices are near 9-year low
March 21, 2011 04:27 PM ET
WASHINGTON (Reuters) - Sales of previously owned U.S. homes plunged in February and prices hit their lowest level in nearly nine years, indicating a housing market recovery was still a long way off. | Full Article
AT&T/T-Mobile expected to survive regulatory review
March 21, 2011 04:07 PM ET
WASHINGTON (Reuters) - AT&T's planned buy of Deutsche Telekom AG's T-Mobile USA will face major demands from U.S. regulators, including extensive asset sales and promises to serve rural areas, but the $39 billion deal is expected to ultimately get a government nod. | Full Article
Special Report: Disasters show flaws in just-in-time production
March 21, 2011 02:19 PM ET
TSUCHIURA, Japan/DETROIT/SAN FRANCISCO (Reuters) - Just over a week after the massive earthquake hit the sprawling Texas Instruments chip plant here, a gardener is reworking the Japanese garden in an inner courtyard of the office tower attached to the plant. | Full Article
Citi to resume dividend, sets reverse stock split
March 21, 2011 01:21 PM ET
NEW YORK/CHARLOTTE, North Carolina (Reuters) - Citigroup Inc will resume paying a nominal dividend after it uses a reverse stock split to shrink the number of shares outstanding, taking another step in its long recovery from the financial crisis. | Full Article

Standard & Poor's : Latin America Highlights: Selected Reports