financializer news A weblog highlighting financial topics making news in the international media.

Argentina: We’re very encouraged by the pace with which Argentina is finally resolving the outstanding disputes with all of its holdouts, said Shahriar Shahida, co-chief investment officer at New York-based Constellation Capital Management, which holds Argentine securities, according to Euro News. We’re hopeful this government will have a much more conciliatory relationship with all of its creditors, Shahida said. A financial markets pariah since defaulting on a record $100 billion in 2002, Argentina proposed on Friday a $6.5 billion payment to settle the legal battle and said two of the leading six holdouts in the case had already accepted the discounted terms. As Macri sought to woo multinational chief executives gathered at the World Economic Forum in Davos last month, the centre-right leader told Reuters he wanted a fair agreement with the bondholders early this year. They include billionaire Paul Singer Elliott Management and Aurelius Capital Management. Finance Minister Alfonso Prat-Gay said negotiations were continuing with creditors still pushing for an improved deal. (news.financializer.com). As reported in the news.

Sony Bank: The country top three commercial banks, Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corp. and Mizuho Bank, will lower time deposit rates on Monday, according to The Japan Times. Sony Bank has already reduced the interest rate on ordinary deposits to 0.001 percent. Commercial banks are lowering their deposit rates due to falling market interest rates, while the Finance Ministry has suspended the sale of government bonds targeting retail investors. An increasing number of asset management companies have halted the sale of money management funds due to difficulty securing investment returns amid falling government bond yields. On Friday, the benchmark 10-year government bond yield hit a record low of 0.020 percent. The ministry has canceled a plan that would have sold 10-year government bonds to retail investors in lots of ¥50,000 starting last Friday due to possible low demand. (news.financializer.com). As reported in the news.

technology shares: Wall Street ended lower, led by plunging technology shares after poor results from data company Tableau Software and networking platform Linked In, according to Euro News. The S&P 500 information technology sector fell 3.4 percent, while the Nasdaq Composite Index slumped to its lowest close since October 2014. Oil prices dipped, ending the week lower after two weeks of gains. While U.S. nonfarm payrolls increased by just 151,000 jobs last month, well below forecasts of 190,000, the unemployment rate fell to 4.9 percent, the lowest since February 2008, and a sharp rise in wages suggested the labor market recovery remained on track. Fed funds futures contracts showed traders boosted their view of the chances of a Fed rate hike in December to about 40 percent. Despite the weak headline figure, markets took the rest of the payrolls report hawkishly. (news.financializer.com). As reported in the news.

trans-Pacific: The designation trade used by politicians and the media when talking about the Trans-Pacific Partnership pact and the proposed Trans-Atlantic Trade and Investment Partnership agreement is another perfect example of a misnomer thanks to which a new shadow will be cast over the generally more fortunate parts of the world, according to The Japan Times. If signed and ratified, the trans-Pacific and trans-Atlantic agreements, which seek to organize business activity under one gigantic umbrella of new rules, are likely to change our living environment in ways very different from what elected officials have been misled to imagine. Spreading democracy in the Middle East and Africa has been used to excuse much slaughter, ruin and higher risks of wider war for purposes not remotely connected with democracy. They have been peddled as trade treaties, and hence as being wonderful for economic growth, job creation, social well-being and general happiness. The same is true for its TPIP companion, which is meant to create and foster a new American-European business environment. But the TPP agreement, which aims to tie the United States together with close to a dozen countries in Asia, Oceania and a bit of Latin America, is not in the first place about trade, and may hardly be significant at all for stimulating genuine exchanges traditionally labelled that way. (news.financializer.com). As reported in the news.

: An expanded version of this report appears on WSJ.com More on Vanguard:Picking the best of the best Vanguard ETFsIs Vanguard record another sign that star managers are an endangered species The Vanguard effect on fund fees, in one handy table Here the advice you get from Vanguard new robot-human hybrid, according to Market Watch. A search already is under way for the new finance boss, who will join a group of 11 executives leading the $3.1 trillion money manager and report directly to Chairman and Chief Executive Officer F. William McNabb III. The new position is being created because of the size and complexity of Vanguard business as it grows in the U.S. and overseas, a spokeswoman said in response to questions from The Wall Street Journal. (news.financializer.com). As reported in the news.

credit: Previously, credit was only offered for devices with intact screens and working buttons, but Apple has loosened their stipulations, according to The Toronto Star. The company hopes that, with more leeway, more people will upgrade to new iPhones. Apple is now offering credit for damaged phones as trade-in from people looking to upgrade from iPhone 5 and later models. An Apple spokesperson confirmed the company will credit $50 for an iPhone 5s, $200 for an iPhone 6 and $250 for an iPhone 6s. There is also an option to trade your old phone for an Apple Store Gift Card. It will give up to $500 for used phones without cracked screens or broken buttons. (news.financializer.com). As reported in the news.

Japan Canseco: Canseco, who once let a ball bounce off his head for a home run, frequently speaks his mind, according to Asahi Shimbun. He was among the first players to admit steroid use, and has tweeted his thoughts on space travel and other topics. The former Major League Baseball slugging outfielder went on a Twitter rant late Wednesday night, saying the Bank of Japan idea of negative interest rates "is blowing my mind." "Bank of Japan should call them willie wonka bonds "YOU GET NOTHING. yOU LOSE!" he posted. Last week, the Bank of Japan said it hopes a small fee on some new commercial bank deposits would spur more lending and stimulate the economy. "Who is advising Japan " Canseco tweeted, adding the plan was a "dumb move." The 51-year-old Canseco last played in the major leagues in 2001. He was one of the Bash Brothers when the Oakland Athletics won the World Series in 1989. (news.financializer.com). As reported in the news.

wheelchair rugby: The daily tales of woe are overshadowing the buildup to the first Games to be staged in South America, according to The Guardian. Later this month, Rio will host test events for diving, taekwondo, race walk and wheelchair rugby, but these will be dwarfed by an anti-Zika mega-operation called for on the 13th by Brazil president, Dilma Rousseff. But with six months to go until Rio de Janeiro hosts the next Olympics, the sense of gloom is plumbing new depths as the country struggles with a Zika epidemic and a cocktail of political and economic woes. In a televised address to the nation on Wednesday, the president described the fight against the virus as a battle for life and said she would use the armed forces, public officials and every necessary financial and technological resource to eradicate mosquito breeding grounds. At Fort Duque de Caxias, close to Copacabana beach, troops pour chlorine into water tanks and clear gutters where larvae might be found. Preparations are already under way at military facilities across the nation. (news.financializer.com). As reported in the news.

: The unnamed woman was then led away by police, according to Nine News Australia. Mr Joyce said he hopes the protest is not the only thing he is remembered for in NZ politics."I was amused. Economic Minister Steve Joyce was leaving commemorations for Waitangi Day with Maori leaders this morning when he was struck by the pink rubbery object."That for raping our sovereignty," the female protester said, in response to the New Zealand government signing the Trans-Pacific Partnership trade agreement. Genuinely. Critics of the TPP believe the deal will cause the cost of medicines skyrocket and crush freedom of speech through onerous copyright laws.© ninemsn 2016World Send your photos, videos and stories to can remain anonymous. When somebody throws something like that at you, what else are you going to be I was surprised and then amused," he told News Talk."I'd rather hope that I've done a few things that made a contribution to New Zealand, and this will be just one of the little background things."Labour leader Andrew Little said he did not condone the protest but understood the reasons behind it."The connection between sexual devices and sovereignty is not immediately apparent to me, but I think we shouldn't underestimate the fact that people are very hot under the collar about TPPA," he said. (news.financializer.com). As reported in the news.

Republican candidates: Unemployment, deficit, gas prices are all down, according to The Guardian. Jobs, wages and rate of the insured are all up, Obama said, not mentioning that the figure for jobs added in January, 151,000, also deemed disappointing when announced that morning. Related:Global markets fall after US jobs report raises prospect of interest rate rise Praising how far the economy had come on his watch, since the recession of 2008, Obama attacked Republican candidates to succeed him he said were running doom-and-despair campaigns. As I said in my State of the Union address, the United States of America right now has the strongest, most durable economy in the world. I guess you cannot please everybody. He continued: I know that still inconvenient for Republican stump speeches as their doom-and-despair tour plays in New Hampshire. (news.financializer.com). As reported in the news.

protesters: Thursday general strike, the third in as many months, paralysed transportation across Athens, according to Nine News Australia. The protesters are furious at government plans to lower the maximum pension to 2300 euros from 2700 euros currently and introduce a new minimum guaranteed basic pension of 384 euros. Some 40,000 people took part in a 24-hour strike in the Greek capital as riot officers ducked Molotov cocktails and teargas. Critics say the new system penalises those who dutifully pay their pension contributions over a lifetime of work and will encourage undeclared labour practices. We can no longer get married or have children," said Dina, a 32-year-old shop owner, referring to five years of austerity cuts under Greece successive economic bailouts. The overhaul, a key part of Greece recent $132 billion economic bailout, has sparked a major backlash against embattled leftist Prime Minister Alexis Tsipras."They have massacred my generation. (news.financializer.com). As reported in the news.

Chip Grabow: Hillary Clinton Reality Check: Clinton on Sanders' gun control votes By Chip Grabow, Sonam Vashi Read More As in past debates, Hillary Clinton took on Bernie Sanders' voting record on gun control legislation, according to CNN. Thursday night, it came up regarding a debate over who is the true "progressive candidate."Clinton said, "If we're going to get into labels, I don't think it was particularly progressive to vote against the Brady Bill five times. The team of reporters, researchers and editors across CNN listened throughout the debate, selecting key statements and rating them either true; mostly true; true, but misleading; false; or it complicated. I don't think it was progressive to vote to give gun makers and sellers immunity," referring to Sanders' voting record. The bill full name is the Brady Handgun Violence Prevention Act and it mandates federal background checks on gun purchasers. So, regarding the Brady Bill, what is Sanders' record As the CNN Reality Check team has reported before, Sanders did vote against various iterations of the 1993 Brady Bill five times. (news.financializer.com). As reported in the news.

Star-Spangled Banner: Last year, anthem singer Idina Menzel said her father was a gambler, and betting on the over-under for the anthem was later suspended due to suspicious betting patterns, according to The Toronto Star. Katy Perry, who was the halftime headliner, made a Deflategate joke involving her boobs. Beyoncé admitted she had to lip-sync the Star-Spangled Banner at President Barack Obama 2013 inauguration because she hadn’t had time between practicing for the Super Bowl halftime show the same year. Great American moments, all. They were charming and English, and were asked how this all came together We started in Iowa three years ago, said lead singer Chris Martin, tongue in cheek. For Super Bowl 50, the NFL went with Coldplay. (news.financializer.com). As reported in the news.

: What makes the movie so timely is its role as primer for what afoot in China, according to The Japan Times. There little about China in Lewis’ 2010 best-seller. A film about debt going bad Seriously But in filmmaking, as with investing, timing is everything. And, frankly, the Brad Pitt-starring screen version can feel dated given the cacophony of world events since Wall Street 2008 drama. This column has examined China $28 trillion problem, which relates to its post-Lehman Brothers credit explosion. That is, until you consider the $23 billion dilemma now facing Beijing, and, by extension, the hedge-fund dynamics Lewis chronicled. (news.financializer.com). As reported in the news.

exchange administration: In separate statements released late on Thursday, the Central Commission for Discipline listed a series of problems it had found at each of the regulators, according to Euro News. At the foreign exchange administration, it said some officials ignored discipline rules, that there were problems with promotions being not standard enough and weak law-enforcement oversight. The four – the People Bank of China , State Administration of Foreign Exchange, China Banking Regulatory Commission and China Securities Regulatory Commission – all said they took the issue seriously and vowed to follow party rules on fighting corruption. At the PBOC, the central bank, public funds were spent on gifts, while at the banking regulator public funds were spend on holidays, the watchdog said. There exist hidden dangers for breeding corruption, the statement added. For the stock markets regulator, there was only lip service paid by some to anti-graft rules and insufficient oversight over certain sensitive posts, though it did not say which. (news.financializer.com). As reported in the news.

percent return: The inflow helped produce a 32 percent return for the debt in the past three years, along with the 2012 bailout of the nation banking system and increasingly supportive policy from the European Central Bank, according to Bloomberg. Before it here, it on the Bloomberg Terminal. They held 53.4 percent of government-issued bills and bonds in December, the highest year-end total since 2010. (news.financializer.com). As reported in the news.

equity funds: After pulling over $25 billion out of equity funds in January—the worst January performance since 2009 for stock indexes—investors sold another $10 billion the week ending Feb. 3, according to a Bank of America report released Friday, according to Market Watch. By comparison, government bond funds saw inflows of $1.7 billion in the first week of February, following a $1.95bn inflow in the last week of January. Investors have been eschewing equities in favor of the perceived safety of bonds since the beginning of the year, as stock markets have taken a beating and oil prices have cratered. Investors bought the most government bonds in the third week of January, when government bond funds saw their largest inflow in 12 months amid a rout in equities and concerns over economic slowdown. Inflows to all fixed-income funds, including government, municipal and corporate bonds, totaled $1.7 billion in the week ended Feb. 3 after an inflow of $3.7 billion in the previous week. Bank of America analysts referred to that buying pattern as recessionary inflows, indicating that investors are bracing for an economic recession. (news.financializer.com). As reported in the news.

City Index: The report showed that U.S. employment growth slowed in January, undercutting the case for a further rise in U.S. interest rates in March, according to Euro News. It just adds to the picture … of uncertainty with respect to global growth, rather than giving us some reassurance, Ken Odeluga, market analyst at City Index, said. Trading was choppy following a U.S. jobs report which disappointed market consensus, with the U.S. non-farm payrolls figure coming in lower than expected at 151,000, as opposed to an expected increase of 190,000. The blue-chip FTSE 100 index <.FTSE> turned to trade lower, closing 0.9 percent lower at 5,848.06 points, in line with the broader European market. Analysts said that some aspects of the report were more encouraging, muddying the picture of the strength of the U.S. economy. The commodity-heavy index was pegged back as the dollar rallied, causing metals prices to drop. (news.financializer.com). As reported in the news.

gun regulation: Although Obama stake is minuscule, worth no more than $30, it reflects a much larger surge of investment, according to Euro News. The president is among millions of Americans buying into gun companies – often unwittingly – as mutual funds have increased such holdings to record levels, according to a Reuters analysis of institutional investment in firearms companies. But the U.S. president, a fierce advocate for gun regulation, has money in a pension fund that holds stock in gun and ammunition companies. Since Obama was elected in 2009, mutual funds have raised their stakes to about $510 million from $30 million in the nation two largest gun manufacturers with publicly traded shares, Smith & Wesson Corp and Sturm, Ruger & Co . That means such stocks are now common in retirement and college savings plans. Beyond mutual funds, such investments also are held in the portfolios of hedge funds and public pension plans, which are harder to track. The influx has helped to boost both companies’ shares by more than 750 percent during the Obama presidency; each now has a market value of about $1 billion. (news.financializer.com). As reported in the news.

Tagged under gun regulation, Smith Wesson Corp topics.

final data: Based on official statistics data gathered between Jan. 26 and Feb. 1, Interfax reported that the annual inflation rate as of the beginning of February fell below 10% — 9.6-9.7 percent — for the first time since mid-December 2014, according to The Moscow Times. The final data on the growth of prices in January will be published by Rosstat state statistics service on Feb. 5, Interfax reported. In 2015, inflation in Russia reached 12.9 percent — the highest recorded rate since 2008, Rosstat said. According to the poll conducted by the state-run pollster VTsIOM last month, the growth of prices amid the slowdown of the country economy has been named by Russians as among the most worrying problems. The Central Bank expected that inflation would not exceed 7 percent — with the oil price at $35 per barrel — the RBC news website reported in December. The Ministry of Economic Development forecasts that prices in Russia will grow 8.5 percent in 2016. (news.financializer.com). As reported in the news.

state tax: At the same time, Labor and the states have urged the government to boost spending on schools and hospitals, according to Nine News Australia. Mr Turnbull said the states needed to take a careful look at their own taxes, such as stamp duties, and his government would not raise taxes just to spend more."They have got to be prepared ... to go to their citizens and say ... `we need to raise more money to spend on our schools and our hospitals and we are going to increase this state tax or that state tax'," he told 5AA radio in Adelaide on Friday. Mr Turnbull is facing a backlash from within the coalition over a possible rise in the rate of the GST from 10 per cent to 15 per cent. The federal government would no longer be an ATM for the states. Mr Weatherill and NSW Premier Mike Baird have proposed the GST rate rise to 15 per cent with households compensated and the net proceeds going towards the fiscal gap in health, estimated to be $35 billion a year by 2030."Health funding is now shaping as the key federal election issue," Mr Weatherill said on Friday. South Australian Premier Jay Weatherill said he would not accept a rise in the GST unless there was a "revenue fix" that covered the $80 billion in health and education cuts. (news.financializer.com). As reported in the news.

economy: Another 41 percent of respondents said the economic situation in Russia is satisfactory and only 3 percent of the participants said the economy is in a good state, according to The Moscow Times. The data from the Obshchestvennoye Mnenie foundation showed that the number of Russians that have a negative view on the state of the country economy is rapidly increasing. According to the results of the poll carried out by the Obshchestvennoye Mnenie Foundation, 54 percent of Russians now believe that the country economy is in a bad state. This point of view was shared by 43 percent of the respondents in December last year and only 30 percent in May of 2015. Meanwhile, 27 percent of Russian citizens haven't noticed any changes in the economy and 9 percent believe the situation is improving. The poll also showed that more respondents — 58 percent — now think that the economic situation in the country is worsening, while a month ago this answer was given by 41 percent of people. (news.financializer.com). As reported in the news.

economic snapshot: But the Reserve Bank of Australia repeated that despite local optimism, uncertainly about the outlook for China and the management of its economic slowdown remained a potential global flashpoint, according to Australian Broadcasting Corporation. In its quarterly economic snapshot, the central bank signalled qualified optimism about the local outlook given a falling jobless rate, low inflation, a lower Australian dollar and evidence the transition out of the mining boom was starting to take hold. "Non-mining business investment is forecast to pick up in the second half of the forecast period, reflecting the improvement in domestic demand," Friday statement said. "There has been a noticeable improvement in labour market conditions that was not anticipated at the time of the previous statement." The official unemployment rate for December fell to 5.8 per cent after peaking at 6.3 per cent during 2015, down by 0.5 per cent. "Also the low growth of wages is likely to have encouraged businesses to employ more people than otherwise," the RBA said. Related Story: ASX closes weaker amid global growth concerns Related Story: Reserve Bank keeps interest rates on hold at 2pc Map: Australia The Reserve Bank has delivered a cautiously upbeat report card on the Australian economy in the face of global financial turmoil. External Link: RBA cautiously upbeat on Australian economy The RBA also pointed to low headline and underlying inflation in addition to lower petrol prices caused by the plunge in global oil prices. However, the RBA said uncertainty about China and concerns about its economy remained a key focus for Australia. "The outlook for China continues to be a key source of uncertainty for the forecasts," the RBA said. "The recent bout of global financial market volatility has been characterised in part by concerns about the evolving balance of risks in China and the ability of Chinese authorities to manage a challenging economic transition. "Any sharp slowing in economic activity in increase in the financial stresses in China could spill over to other economies in the region." The RBA warned that any unexpected fallout from China would "adversely affect commodity prices including those that are important to Australia" such as iron ore. The outlook made no material change to economic growth outlook which it expected to increase gradually over the next two years to "be a bit above the decade average". The RBA expected growth to remain steady at between 2.5 and 3.5 per cent to December 2016, slightly better that the forecast in November with headline inflation of between 2 and 3 per cent for the same period. (news.financializer.com). As reported in the news.

state purchases: Imports into Russia from CIS countries were worth $119 million, 21 percent less than in 2014, the statement said, according to The Moscow Times. Meanwhile, the volume of antibiotics imported into Russia decreased by 2.6 percent in 2015 to $84.2 million, according to the Federal Customs Service. The import of drugs to Russia from outside the former Soviet Union dropped 32.9 percent to $6.7 billion. In December, Prime Minister Dmitry Medvedev signed a decree limiting state purchases of foreign-made drugs. According to the decree — aimed at reducing reliance on Western goods — foreign companies are banned from participating in tenders if there are at least two entries from Russia or members of the Eurasian Economic Union. (news.financializer.com). As reported in the news.

: He also said a million jobs and a million school places for refugees in bordering countries would be created, according to Xinhua China. He said the money would provide millions with "life-saving" food, medical care and shelter, the BBC reported. (news.financializer.com). As reported in the news.

growth profile: At least seven brokerages downgraded the stock from buy to hold or their equivalents, saying the company lofty valuation was no longer justified, according to The Guardian. With a lower growth profile, we believe that Linked In should not enjoy the premium multiple it has grown accustomed to, Mizuho Securities USA Inc analysts wrote in a note. The stock sank to a three-year low of $110.01 in early trading, registering its sharpest decline since the company high-profile public listing in 2011. Mizuho downgraded the stock to neutral and slashed its target price to $150 from $258. At least 22 brokerages cut their price targets on the stock, with RBC slashing its target by almost half to $156. Raymond James, Cowen and Co, BMO Capital Markets, JP Morgan Securities, RBC Capital Markets and Suntrust Robinson also downgraded the stock. (news.financializer.com). As reported in the news.