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Mar 30, 2011

Financial and Forex Info | Today's Treasury Rates




  1. Daily Treasury Yield Curve Rates for U.S. Department of the Treasury. This information has recently been updated, and is now available.
  2. Daily Treasury Bill Rates for U.S. Department of the Treasury. This information has recently been updated, and is now available.  
  3. Daily Treasury Real Yield Curve Rates for U.S. Department of the Treasury. This information has recently been updated, and is now available
  4. Daily Treasury Long-Term Rates for U.S. Department of the Treasury. This information has recently been updated, and is now available
  5.  Daily Treasury Real Long-Term Rates for U.S. Department of the Treasury. This information has recently been updated, and is now available.  


The Economist: Selected New Articles






Japan's nuclear crisis: In hot water
America's energy policy: Reheated proposals
Social media: From universal truths to internal dialogues
The budget as entertainment: America's next top budget compromisers
Taxation policy: Why America has opted for low sales taxes
Daily chart: American house prices
Online debate: As we near the end of our debate on Arab revolutions, the divisions are sharp

CFTC Enforcement Actions: Press Release:: CFTC CHARGES Florida Precious Metals Company Kastle & Hawke, Inc. and its Principals, James A. Ward and Nathaniel R. Walker, with Fraud

 RELEASE: pr6014-11

March 30, 2011

Defendants allegedly misappropriated at least $319,000 of customer funds for personal expenses and purchases.

Federal court issues order freezing defendants’ assets and preserving books and records.

Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today charged precious metals firm Kastle & Hawke, Inc. of Ft. Lauderdale, Fla., and its principals, James A. Ward, also of Ft. Lauderdale, and Nathaniel R. Walker of Lauderhill, Fla., with fraud in connection with purchasing, selling or delivering gold, silver, platinum and palladium to customers on a leveraged basis. The CFTC’s lawsuit also alleges that the defendants violated the Commodity Exchange Act’s prohibition against selling palladium on a leveraged basis. Kastle & Hawk has never been registered with the CFTC in any capacity.
On March 30, 2011, the same day the complaint was filed, Judge James I. Cohn, of the U.S. District Court for the Southern District of Florida, entered a restraining order freezing the defendants’ assets and prohibiting the destruction or alteration of their books and records.
The complaint alleges that the defendants fraudulently represented that they were selling physical metals on a leveraged basis. The defendants allegedly charged customers an initial deposit equal to 23 percent of the full cost of the metals, after which Kastle & Hawke purportedly would arrange loans for financing the remaining 77 percent and store customers’ metals in a secure depository. In reality, the defendants never held or acquired any metals for customers and charged customers interest on non-existent loans, according to the complaint.
Furthermore, between at least August 2007 and November 2010, the defendants allegedly misappropriated at least $319,000 of customer funds, which they used for personal expenses and purchases, including Ward’s car, car-related expenses, rent payments, restaurant meals and food at a grocery store chain. To conceal their fraud, the defendants allegedly manufactured and sent false account statements and transaction confirmations to customers.
In its continuing litigation, the CFTC seeks preliminary and permanent injunction orders against the defendants, disgorgement of ill-gotten gains, civil monetary penalties and trading and registration bans.
The CFTC thanks the U.S. Attorney’s Office for the Southern District of Florida, the U.S. Postal Inspection Service, the Florida Office of Financial Regulation and the Alabama Securities Commission for their assistance.
CFTC Division of Enforcement staff responsible for this action are Stephanie Reinhart, Joseph Konizeski, Carlin Metzger, Jennifer Smiley, Judith McCorkle, Mary Kaminski, Scott Williamson, Rosemary Hollinger and Richard Wagner.
Last Updated: March 30, 2011 Media Contacts
Dennis Holden
202-418-5088
Office of Public Affairs

WSJ | Asia Alert : Warren Buffett Lieutenant Resigns Amid Stock Purchases

Asia Alert
from The Wall Street Journal


In a surprise move, a longtime lieutenant of Warren Buffett, David Sokol, resigned from his position at Berkshire Hathaway. Mr. Sokol had been considered a possible successor for Mr. Buffett’s post as CEO of Berkshire.

Mr. Buffett also dropped a bombshell in a letter about Mr. Sokol: he said Mr. Sokol had purchased shares of Lubrizol, a specialty chemicals company which Berkshire announced it is buying, before Mr. Sokol convinced Mr. Buffett on the merits of the deal.

Mr. Buffett said neither he nor Mr. Sokol believe the stock purchases "were in any way unlawful." Mr. Buffett said Mr. Sokol told him the stock transactions weren’t "a factor in his decision to resign."

http://online.wsj.com/home-page?mod=djemalertAsianews

Financial and Forex Info | Reuters Daily Investor Update : Wall Street rides winners at quarter's end

 











News
LATEST NEWS
Wall Street rides winners at quarter's end
NEW YORK (Reuters) - U.S. stocks rose on Wednesday with activity dominated by money managers buying recent winners, including energy and small-caps, as the quarter nears its end. | Full Article

Are tools, iron in Warren Buffett's sights?
March 30, 2011 04:28 PM ET
NEW YORK (Reuters) - Warren Buffett's hunt for a large acquisition could lead to targets like Eaton, Illinois Tool Works or Cliffs Natural Resources, all of which seem to fit his recent preference for growth in industries outside of his core insurance unit. | Full Article
Microsoft co-founder Allen blasts Gates in book
March 30, 2011 02:19 PM ET
SEATTLE (Reuters) - Microsoft Corp co-founder Paul Allen has accused his former business partner Bill Gates of plotting to dilute Allen's stake in the world's largest software company before he left in 1983, and tried to buy his share of the company on the cheap. | Full Article
JPMorgan's Dimon slams CFTC on swaps crackdown
March 30, 2011 03:13 PM ET
WASHINGTON (Reuters) - Jamie Dimon, chief executive of Wall Street giant JPMorgan Chase, lashed out at efforts by U.S. regulators to police the $600 trillion swaps market, in which his bank is a big player. | Full Article
CEOs becoming more willing to hire: Roundtable
March 30, 2011 12:38 PM ET
BOSTON (Reuters) - U.S. chief executives' view of the economy brightened in the first quarter, with more than half now ready to add jobs -- a critical step if the economy's recovery is to gain steam. | Full Article
US TOP NEWS
Libyan rebels flee east from Gaddafi bombardment
March 30, 2011 03:43 PM ET
AJDABIYAH, Libya (Reuters) - Libyan rebels fled in headlong retreat from the superior arms and tactics of Muammar Gaddafi's troops on Wednesday, exposing the insurgents' weakness without Western air strikes to tip the scales in their favor. | Full Article
Obama calls for deep cuts in U.S. oil imports
March 30, 2011 03:22 PM ET
WASHINGTON (Reuters) - President Barack Obama on Wednesday proposed to cut U.S. oil imports by a third over 10 years, setting an ambitious goal that eluded his predecessors as high gasoline prices threatened to undermine the economic recovery. | Full Article
Japan urges calm over food export fears
March 30, 2011 03:13 PM ET
TOKYO (Reuters) - Japan called on the world not to impose "unjustifiable" import curbs on its goods as French President Nicolas Sarkozy was due to arrive on Thursday, the first leader to visit since an earthquake and tsunami damaged a nuclear plant, sparking the worst nuclear crisis since Chernobyl in 1986. | Full Article
House votes to kill main Obama foreclosure aid
March 30, 2011 09:44 AM ET
WASHINGTON (Reuters) - The House of Representatives on Tuesday voted to kill President Barack Obama's signature program to help struggling homeowners avoid foreclosure. | Full Article
Assad sees Syria plot, unyielding on emergency law
March 30, 2011 01:55 PM ET
DAMASCUS (Reuters) - President Bashar al-Assad defied calls on Wednesday to lift a decades-old emergency law and said Syria was the target of a foreign conspiracy to stir up protests in which more than 60 people have been killed. | Full Article


NYT: Afternoon Business News: Regrets, Resentment and Trivia in a Microsoft Partnership



BUSINESS

Regrets, Resentment and Trivia in a Microsoft Partnership

By CHRISTINE HAUSER
In a new book, Paul Allen describes the years with his co-founder, Bill Gates.

Countries Begin Radiation Checks on Ships That Have Visited Japan

By BETTINA WASSENER and MATTHEW SALTMARSH
Adding to the confusion is the difficulty of getting a clear picture of what approach the customs, security, health or port authorities in various countries and cities are taking.
DealBook

Warren Courts Her Top Critics

By BEN PROTESS
Addressing the Chamber of Commerce, Elizabeth Warren, who is overseeing the new Consumer Financial Protection Bureau, played to her audience, saying the agency would ease some burdensome regulations.
DealBook

Galleon Jurors Hear Tapes That Discuss Gupta Calls

By PETER LATTMAN
"I heard yesterday from somebody who's on the board of Goldman Sachs that they are gonna lose $2 per share," Raj Rajaratnam says on taped phone conversation in October 2008.

Obama Sets Goal of One-Third Cut in Oil Imports

By JOHN M. BRODER
Saying there were no quick fixes to the nation's oil addiction, President Obama proposed a mix of measures.

Financial & Forex Info | The Australian Business Briefing: BHP approves Escondida mine expansion







BHP approves Escondida mine expansion
BHP Billiton Escondida mine Alex MacDonald BHP Billiton has approved the $US554 million Escondida Ore Access project, the first of many options to expand the world's biggest copper mine.




Wall St small caps hit four-year high
Wall St UPDATED Brendan Conway US stocks rose today, with the Russell small-cap index hitting its highest since 2007 on optimism over deal activity and jobs data.





BHP Billiton Escondida mine Alex MacDonald BHP Billiton has approved the $US554 million Escondida Ore Access project, the first of many options to expand the world's biggest copper mine.
Shift to ASIC speeds up action
Tony D'Aloisio Damon Kitney THE corporate regulator now begins three-quarters of investigations into market manipulation within 60 days of the alleged offence.
James Murdoch named News deputy COO
James Murdoch JAMES Murdoch, the youngest son of News Corp chairman Rupert Murdoch, was named deputy COO of the news and entertainment giant early today.
Qantas to slash costs, hike levies
Qantas Ewin Hannan, Damon Kitney QANTAS will slug customers with more fuel surcharges over coming months if high fuel prices continue to hit the airline's profitability.
Colorado finally calls in the receivers
Colorado Tracy Lee RECEIVERS for clothing and footwear company Colorado Group say employee entitlements and customer gift cards will be honoured.
Nine to team with pay-TV in AFL bid
AFL photographs James Chessell THE Nine Network has backed a proposal to simulcast most AFL matches live on pay television.
Financial Markets
Wall St small caps hit four-year high
Wall St UPDATED Brendan Conway US stocks rose today, with the Russell small-cap index hitting its highest since 2007 on optimism over deal activity and jobs data.
Oil falls on record crude stockpiles
Gold builds gains on soft US dollar
Financial Markets Coverage

Financial & Forex Info | The Australian Capital Circle: Gillard and Abbott push into resources states




Capital Circle Newsletter

Gillard and Abbott push into resources states
 
With one eye on 2013, both leaders are targeting the resources states and talking policy today.
 

The PM's diary: Julia Gillard is in Perth and has an event scheduled for 9am today (noon AEST). She will then return to the east coast, arriving about 6pm and spending the night in Sydney.
Tony Abbott is in Brisbane and will address a Queensland Chamber of Commerce lunch today about welfare reform. Mr Abbott will commit the Coalition to sweeping welfare reforms in the speech, including suspending unemployment benefits where there is unskilled work available and making work for the dole mandatory for people younger than 50 who have been on unemployment benefits for more than six months (story here).
Sieve-like: Another DFAT who's who circular has found its way to Capital Circle, this one dedicated to the offices of Trade Minister Craig Emerson and Parliamentary secretary Justine Elliot. Regular readers will recall a rather helpful guide to Kevin Rudd's office appeared back in February. The guide to Dr Emerson's office is no less helpful, revealing Rachel Cameron is no longer one of the minister's message managers with sole responsibility for that job now falling to Mark Mulligan. But Cameron is still in the office, advising the minister on North America and the EU, among other things. And she is the third former spinner-turned-adviser in the office, with current chief of staff Lynne Ashpole and Asia specialist Mark Tavener both having served in the role too. Ms Elliot's office, meanwhile has shrunk somewhat since her days in the ministry - she now has just one adviser. Step forward, Chris Snewin.
The Reserve Bank of Australia (@RBAInfo) joins Twitter today.
In the House: The Rural Affairs & Transport Committee will meet today to discuss the eradication of the Asian honey bee.
***Sign up to Capital Circle -- news from the beltway to y
Read more...

Financial & Forex Info | Kitco New York Market Close Report





New York Market Close Mar 30/11 05:20 PM EDT
Metals
Bid
Ask
Change
Low
High
Gold
1423.80
1424.80
5.10
0.36%
1411.10
1431.40
Silver
37.48
37.50
0.35
0.94%
36.97
37.78
Platinum
1766.00
1776.00
31.00
1.79%
1734.00
1783.00
Palladium
751.00
757.00
0.00
0.00%
743.00
765.00


You're receiving this email because you're subscribed to Kitco Email Service. If you have received this email without signing up, please disregard this message. To change your password and other settings, please log in to your Kitco Email Service Account.

ABC News Australia | Business: Progress toward Roxby mining expansion welcomed



Dollar continues its ascent, Wall St gains
US shares are on track to record their biggest March quarter increase since 1998, after the release of encouraging jobs data.

AFL player seeks compo over brain damage
A recently retired AFL footballer says he has suffered brain damage through playing football and is seeking compensation from his former club.

Explosives plant planned for upper Spencer Gulf
Public consultation is about to start on a proposed ammonium nitrate plant to be built in the upper Spencer Gulf region of South Australia.

Progress toward Roxby mining expansion welcomed
Premier Mike Rann says a feasibility study marks a significant step toward expansion of Olympic Dam mining in outback South Australia.

Hope for timber jobs as mill closes
There may be hope for some of the Scottsdale workers who will lose their jobs when Gunns closes the town's remaining sawmil today.


 

CBS | Political Hotsheet Top Stories: Dem. Rep: Obama acted irresponsibly in Libya

The CBS News Political Hotsheet newsletter

CBS POLITICAL HOTSHEET TOP STORIES    



   
Democrat Marcy Kaptur says Obama's failure to consult Congress on Libya was "premeditated," "irresponsible"
Read full story
Dem. Rep: Obama acted irresponsibly in Libya

Harry Reid: Americans don't care about the Tea Party Senate majority leader says Americans don't care about the Tea Party, so Republicans involved in budget negotiations shouldn't either

House GOP: We don't need no stinkin' Senate House Republicans putting forth measure mandating their spending bill will become law even if the Senate does not act

Despite message of unity, London conference spotlights ambivalence of Arab world, unclear goals of Libyan opposition

GOP sens. vow to vote against raising debt limit GOP Sen. vows to filibuster vote on raising the debt ceiling, other conservatives call for balanced budget amendment

The Washington Post Afternoon Edition | Politics: Who wins in a government showdown?



HEADLINES

1) Who wins in a government showdown?
Talk of a government shutdown is starting to heat up again. And so is the debate over which side would win politically.
» Read full article

2)
Obama calls for cut to oil imports
In a speech Wednesday, the president called for a one-third cut in oil imports by 2020, a step toward less reliance on foreign petroleum amid turmoil across the Middle East.
» Read full article

3)
Tea party unpopularity on the rise
Almost half of Americans have an unfavorable view of the tea party movement. There’s no simple explanation for the uptick in unfavorability.
» Read full article

4)
THE FIX: Obama’s biggest rival?
Who is Jon Huntsman, and why does he make the White House nervous?
» Read full article

5)
FACT CHECKER: Obama’s missing context on Libya
There were no major errors in the president's speech, but some elements require further context.
» Read full article

MarketWatch | Personal Finance Daily How to play the global commodities trends

MarketWatch
Personal Finance Daily
MARCH 30, 2011

Wednesday's Personal Finance Stories

By MarketWatch



Don't miss these top stories:

They say having a baby changes your life. Surely becoming a parent is an important milestone, and generally, most people know that in addition to joy, parenthood can come with a lot of stress. But a new study suggests that while young parents might be stressed and depressed compared to their peers without children, older parents are happier than their childless counterparts. So writes Rose Pastore today, adding that none of this new research will shock anyone who has lived long enough to see their three-year-old hellion become a thoughtful, successful adult. But for those still toiling through the tough years, take heart: time (and science) are on your side.

Also in today's Personal Finance section, Robert Powell writes in his Your Portfolio column that investors can take advantage of global commodity trends by using single-commodity exchange-traded funds or exchange-traded notes.

Anne Stanley , Managing Editor, Personal Finance

REAL ESTATE

No spring in this housing market's step

WSJ's Conor Dougherty and Mitra Kalita visit the News Hub to discuss state-level revenues seeing a rebound, but local revenues weighed down by a sluggish housing market. January housing sales figures ignited fresh fears of a double-dip recession.
 Watch the video: No spring in this housing market's step.


SPENDING AND SAVING

Just wait until your children grow up

A new study suggests that while young parents might be stressed and depressed compared to their peers without children, older parents are happier than their childless counterparts.
Read more: Just wait until your children grow up.


Is that iPad 2 really worth $2,000?

When someone asks me if I've changed my mind yet and now want one of Apple‘s new iPads, I tell them: "Well, even if I did, I probably wouldn't want to spend $2,000 on one."
Read more: Is that iPad 2 really worth $2,000?


INVESTING

How to play the global commodities trends

For some investors, the best way to take advantage of current commodity trends is to buy single-commodity exchange-traded funds or exchange-traded notes, from which there are plenty to choose.
Read more: How to play the global commodities trends.


5 insanely cheap tech stocks

Sometimes the market hides the best values in plain sight.
Read more: 5 insanely cheap tech stocks.


ECONOMY & POLITICS

Obama calls for reducing imported oil

President Obama called for reducing oil imports by a third by 2025 and boosting U.S. energy production in a speech Wednesday, at a time of higher gasoline prices at the pump.
Read more: Obama calls for reducing imported oil.


Budget melodrama: Deficits, debt and disaster

There is a way to get serious budget reform, but Washington's current melodrama isn't the way to do it,.
Read more: Budget melodrama: Deficits, debt and disaster.


U.S. business leaders more optimistic

Chief executives of the largest U.S. companies plan to hire more workers over the next six months amid expectations that the economy will grow faster than they previously believed.
Read more: U.S. business leaders more optimistic.


Private sector adds 201,000 jobs in March: ADP

The gain is roughly in line with economists' forecasts, while February's figure gets a slight downward revision.
Read more: Private sector adds 201,000 jobs in March.


Good news on jobs from several sources

March was another month of modest improvement for jobs, according to several reports released in the past few days.
Read more: Good news on jobs from several sources.


On inflation, don't believe your eyes

The Federal Reserve has no credibility when it says inflation is tame, but those who say the sky is falling have even less.
Read more: On inflation, don't believe your eyes.

GFTC | Events: General Counsel Berkovitz - Testimony before the US Senate Committee on Agriculture, Nutrition and Forestry




EVENT: Other Event Mar. 30, 2011

General Counsel Berkovitz - Testimony before the US Senate Committee on Agriculture, Nutrition and Forestry

CFTC General Counsel Dan Berkovitz to testify before the US Senate Committee on Agriculture, Nutrition and Forestry


When:
Wednesday, March 30, 2011, 10:30 AM (ET)
Where:
328A Russell Senate Office Building, Washington, DC
Topic:
Evaluating High Gas Prices and How New Rules and Innovative Farming Can Help
This event is open to the public.
Testimony of CFTC General Counsel Berkovits before the US the US Senate Committee on Agriculture, Nutrition and Forestry
US Senate Committee on Agriculture, Nutrition and Forestry

MarketWatch | Market Pulse: Russell 2000 hits highest level since Oct. 2007


By Alistair Barr 
 
SAN FRANC) ISCO (MarketWatch-- The Russell 2000 index, a benchmark for small-cap stocks, hit the highest level since October 2007, before the credit crisis struck. The index rose as high as 2061.48 during Wednesday trading. That's the highest intra-day level since the middle of October 2007, according to FactSet data.

Financial & Forex Info | London Fix Market Report





London Fix Wed Mar 30 00:00:00 EDT 2011
Metals
Gold
Silver
Platinum
Palladium
  AM PM AM PM AM PM AM PM
USD 1419.00 1425.50   37.53 1752.00
1760.00
758.00 757.00
UK 883.40 889.05   23.39 1089.90
1098.30
471.55 472.40
EURO 1007.53 1013.44   26.65 1241.25
1248.65
537.00 537.05

Financial & Forex Info | Reuters - Deals Today









News


The latest clampdown by German and U.S. authorities on tax-evading clients at banks such as Credit Suisse could make Swiss wealth management firms alluring takeover targets, bankers say. Swiss private banks have been intensifying their cleanup of untaxed assets in an effort to limit the attention of foreign authorities, reducing risk for potential acquirer, writes Martin de Sa'Pinto and Edward Taylor. Union Bancaire Privee, EFG and Julius Baer are seen as targets.

Valeant Pharmaceuticals said it was not interested in a bidding war for drugmaker Cephalon and was willing to walk away. But Chief Executive Michael Pearson also said Valeant may consider raising its offer if Cephalon opens up its books and the deal looks right. Shares of Cephalon surged more than 29 percent on Wednesday, above the $5.7 billion unsolicited offer from Valeant, in a sign investors are expecting a higher bid.

Conditions are better for a wave of U.S. bank mergers, with large deals that carry a price tag of $5 billion or more possible by the end of the year, a UBS AG investment banker said on Tuesday.

BATS Global Markets plans to list U.S. public stocks by year-end, opening the door for companies to float shares somewhere other than the Big Board or Nasdaq for the first time in years.

Acquirers paid a median 9.2 times earnings before interest, taxes, depreciation and amortization for companies in the first quarter, the most since the second quarter of 2008 and kicked off what investment bankers say may be the busiest year for deals since 2007, writes Bloomberg's Zachary Mider

National Futures Association, CFTC and AARP co-sponsor "Don't Lose Your Life Savings to Investment Fraud" during Money Smart Week