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Federal Reserve Issues FOMC Statement
October 30, 2013--Information received since the Federal Open Market Committee met in September generally suggests that economic activity has continued to expand at a moderate pace.
Indicators of labor market conditions have shown some further improvement,, but the unemployment rate remains elevated. Available data suggest that household spending and business fixed investment advanced, while the recovery in the housing sector slowed somewhat in recent months. Fiscal policy is restraining economic growth. Apart from fluctuations due to changes in energy prices, inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic growth will pick up from its recent pace and the unemployment rate will gradually decline toward levels the Committee judges consistent with its dual mandate. The Committee sees the downside risks to the outlook for the economy and the labor market as having diminished, on net, since last fall. The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, but it anticipates that inflation will move back toward its objective over the medium term.
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Source: FBR
CFTC.gov Commitments of Traders Reports Update
October 30, 2013--The current reports for the week of October 15, 2013 are now available.
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Source: CFTC.gov
ISE Statement on OPRA Market Data Issue
October 30, 2013--The International Securities Exchange (ISE) experienced a technical issue that led to a disruption in its outbound market data feed to OPRA commencing at the market open through approximately 10:55 am.
The root cause has been identified as a configuration error on the OPRA side that they applied specifically to the communication lines dedicated to receiving data from ISE and ISE Gemini. After implementing a temporary work-around to resolve the issue this morning, ISE and OPRA technology teams are collaborating to restore the proper configuration.
Source: International Securities Exchange (ISE)
House Approves Derivatives Pushout Bill Amending Dodd-Frank
October 30, 2013--Legislation to undo a Dodd-Frank Act measure requiring banks such as JPMorgan Chase & Co. (JPM) and Citigroup Inc. to separate swaps trading from deposit-taking units was advanced by the U.S. House with bipartisan support.
The revision approved today in a 292-122 vote would upend the 2010 law's push out provision by allowing trades of almost all types of derivatives by lenders with access to deposit insurance and discount borrowing. A companion bill has failed to gain traction in the Democrat-controlled Senate, which would have to agree with the change for it to become law. The House bill received 70 votes from Democrats.
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Source: Bloomberg
CFTC Votes to Drop Court Appeal of Position Limits Rule
CFTC abandons challenge of rule limiting speculation in commodity markets
October 29, 2013--The Commodity Futures Trading Commission voted to abandon a court challenge of a rule designed to limit speculation in commodity markets, agreeing to drop the agency's appeal as it works to advance a revised version of the rule.
The CFTC voted to drop its appeal of a September 2012 decision tossing out the agency’s "position limits" rule, which aimed to curb sharp price spikes by limiting the percentage of the market any one firm can control in certain commodities.
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Source: Wall Street Journal
CBOE To Introduce Mini-SPX Options With PM Settlement On November 5
Benefits Also Include Ease Of Cash Settlement And Certainty Of European Exercise
October 29, 2013--Chicago Board Options Exchange, Incorporated (CBOE(R)) announced today that the Exchange will list a Mini-SPX Index option (options symbol: XSP) contract with a new PM-settlement feature beginning on Tuesday, November 5.
CBOE's Mini-SPX Index options are one-tenth the value of the S&P 500(R) Index options (SPX), which are based on the premier benchmark of the broader U.S. market.
The PM-settlement is preferred by many investors, including institutions that have end-of-day reporting requirements.
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Source: CBOE
NASDAQ OMX - Update - Statement On Global Index Data Service (GIDS 2.0)
October 29, 2013--NASDAQ OMX experienced an interruption of service related to the dissemination of Global Index Data Service (GIDS 2.0).
The disruption was caused by a human error performing an operational function which resulted in the incorrect delivery of data to the index distribution system. This limited the ability of the system to distribute index data from 11.53 am to 12.37 pm EDT. The index calculation system was not impacted. No equity exchange operations have been impacted.
Source: NASDAQ OMX
Investors flood U.S. stock funds at fastest pace since 2000-TrimTabs
October 29, 2013--Investors sent $45.5 billion into U.S.-based equity mutual funds and exchange-traded funds from the start of October through Friday, the fifth-highest month on record, data from research provider TrimTabs showed on Tuesday.
Those stock funds, which own shares of companies both inside and outside the United States, have had inflows of $277 billion this year, the largest annual inflow since 2000. Funds that hold stocks of only U.S companies recorded their first annual inflow since 2007, the data showed.
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Source: Yahoo Finance
Home Prices Rise Further in August 2013
October 29, 2013--Data through August 2013, released today by S&P Dow Jones Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, showed that the 10-City and 20-City Composites increased 12.8% year-over-year. Compared to July 2013, the annual growth rates accelerated for both Composites and 14 cities.
On a monthly basis, the 10-City and 20-City Composites gained 1.3% in August. Las Vegas led the cities with an increase of 2.9%, its highest since August 2004. Detroit and Los Angeles followed with gains of 2.0%.
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Source: S&P Dow Jones Indices
SIGTARP Report: October 2013, Quarterly Report to Congress on TARP
October 29, 2013--This morning, SIGTARP issued its October 2013 Quarterly Report to Congress on the status of TARP.
view the SIGTARP Report: October 2013 Quarterly Report to Congress on TARP
Source: Office of the Special Inspector General for the Troubled Asset Relief Program
