May 12, 2005
Lead Stories
***** (Jon’s Intro) Welcome to the temporarily altered John Lothian Newsletter. While this is easily the most fun I’ve ever had in my entire life barring a short list of experiences that Mr. Lothian forbids me to mention here, I have to say that this is a lot harder to compile than I thought. I am a news junkie, when I permit myself to read news at all, but I find myself drawn into the careful reading of articles about how many donuts a small boy in Duluth, Minnesota was able to stack on his nose, and other amazing but possibly irrelevant things. Before I know it, hours have ticked by. Though I have filled my head with wonder at what our species can accomplish during a day, the links related to finance and futures were a long time in coming.
***** I will try to get tomorrow’s newsletter out in a more timely and familiar fashion, but don’t hold your breath. It’s bad for you, anyway. Meantime, please don’t blame John Lothian. He did try all his respectable friends first.
Soft spot fears ease after strong retail
Worries about a slowing in the
S.Korean Watchdog to Reprimand Deutsche Bank Branch
http://asia.news.yahoo.com/050512/4/20urt.html
Deutsche Bank declines to comment on Korean branch trade suspension report
http://www.iii.co.uk/news/?type=afxnews&articleid=5293844&subject=companies&action=article
Hearings on Wall Street shake-up
WASHINGTON (Reuters) - Top executives from the New York Stock Exchange and other exchanges are set to testify at hearings next week on recently proposed Wall Street business tie-ups and new rules on stock prices and trading, the U.S. Senate Banking Committee said on Wednesday.
http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20050511&ID=4441808
Fed's Geithner warns of structured debt risks
The growth in structured credit products may have left investors more vulnerable to losses if an unexpected economic shock hits the system, the New York Federal Reserve's president said in an interview on Thursday. Timothy Geithner did not foresee such a shock, but warned of greater risks if the market does enter the "tail," a term used by bankers to describe the chance of a statistically rare event occurring.
http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=8462408
Nasdaq poised to capture Nyse market share
Nasadaq will be well-positioned to capture market share from the New York Stock Exchange in a post-merger market, according to executives speaking at the Reuters Exchanges and Trading Summit in
http://www.finextra.com/fullstory.asp?id=13660
Banking and Finance: Market beware
The Market Abuse Directive will be in force in the
http://www.legalweek.net/ViewItem.asp?id=24043
ISE Elects One Board Member
The International Securities Exchange (NYSE:ISE - News) said today that Sean Flynn of Timber Hill LLC, a subsidiary of Interactive Brokers LLC, was elected by shareholders to the company's Board of Directors.
http://biz.yahoo.com/bw/050511/115975.html?.v=1
ANTs Software and Computer Intelligence Group Team to Provide High-Performance Data Management Solutions for Financial Services
Specialized Trading Industry Management and Systems Consultancy Joins ANTs Software
http://biz.yahoo.com/prnews/050512/sfth005.html?.v=11
Financial Services See Red Tape Limit in the EU
The European Commission published a Green Paper on May 3, setting out priorities for financial services regulation over the next five-year period.
http://www.seeurope.net/en/Story.php?StoryID=55406&LangID=1
Rising inventories force drop in crude oil prices
http://news.ft.com/cms/s/ffbf2108-c283-11d9-866a-00000e2511c8.html
Exchange News
Fimat To Expand Execution & Clearing Services to all U.S. Equities Markets Through Acquisition of PreferredTrade Assets
The Fimat Group announced today that it will expand its global range of brokerage services to include the clearing of the entire
Trade Exchange Network Limited to Launch a Regulated Electronic Trading Exchange through its
Trade Exchange Network Limited, an Irish trading exchange, will launch a regulated electronic exchange in the
http://www.emediawire.com/releases/2005/5/emw238311.htm
Borse left rudderless at crucial moment
The abrupt departure of both the chairman and the chief executive of the Deutsche Borse leaves
http://news.ft.com/cms/s/521da15c-c0f1-11d9-a3da-00000e2511c8.html
***** FT subscription required to get beyond the first paragraph.
Euronext 1Q revenues slips, reiterates '05 earns target
http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=8462408
Four New Indexchange ETFs Launched in the XTF Segment on Xetra
Replacement of Component Issues for the Nikkei Stock Average (Nikkei 225)
http://www.ose.or.jp/e/news/0505/050512a.html
Regulatory News
The SEC News Digest
The SEC News Digest provides daily information on recent Commission actions, including enforcement proceedings, rule filings, policy statements, and upcoming Commission meetings.
http://www.sec.gov/news/digest/dig051105.txt
IDA imposes lifetime ban on
BMO Nesbitt rep fined $100,000 for misappropriating funds
http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=28780&IdSection=5&cat=5
Managed Futures - Managed Funds
The Short View: The Achilles heel of hedge funds
The falls in investment bank shares that followed Tuesday’s rumours of hedge fund losses was a sharp reminder of how closely the two group’s fortunes are tied together.
http://news.ft.com/cms/s/99c34fc6-c20d-11d9-866a-00000e2511c8.html
***** FT subscription required to get beyond the first paragraph.
Case for a closer look at hedge funds
The move by Standard & Poor's to downgrade $453bn (£240bn) of General Motors and Ford debt to junk status was always going to become an event in the market no matter how well flagged. It is not every day that two of the credit market's biggest borrowers are taken down a notch.
http://news.ft.com/cms/s/b2e27380-c283-11d9-866a-00000e2511c8.html
Investors in hedge funds keep eye on credit market
Investors in hedge funds say they are not overly worried about exposure to corporate debt after a sell-off this week but are keeping a close eye on investments because the chances of a blow-up are always there.
http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=8458869
Reports
Bond Talk Today's Events
http://www.bondtalk.com/global.cfm?S=todaysevents
USDA Today
http://www.usda.gov/nass/PUBS/TODAYRPT/TODAY.HTM
Miscellaneous News
Gasparino: The NYSE merger is sparking all kinds of gossip among Wall Streeters ripe for revenge
http://www.msnbc.msn.com/id/7807539/site/newsweek/
***** Conspiracy or just coincidence? Yeah, probably… ;-)
Xerox Scientist Inducted Into National Inventors Hall Of Fame For Revolutionizing The Workplace With Modern Photocopier
Anyone who's made copies of a favorite recipe, a choice article, a Little League roster or a pile of receipts has Robert W. Gundlach to thank.
http://biz.yahoo.com/bw/050512/125040.html?.v=1
***** I was going to put this headline in three or four times, but John made me promise not to be silly.
Rogue Trader Deals Fraud-Busting Advice With ScottishJobs.com
Rogue trader Nick Leeson, who recently took up his first full-time job since bankrupting
http://www.onrec.com/content2/news.asp?ID=7597
Fitch Rates
Fitch Ratings has assigned ratings to the following student loan revenue bonds issued by the Arkansas Student Loan Authority
http://biz.yahoo.com/bw/050512/125517.html?.v=1
***** Uh… Student loan bonds rated AAA??? This must be a “new responsibility” thing with the up and coming generation. Back in MY day, we didn’t pay our student loans back…
Daily Volumes
This is the section where John always puts how many contracts were traded for a wide variety of things. Alas, you’ll have to do without those for a couple of days as I’m more of a text person than a number person. To keep you engaged, however, here are some highlights:
Many things traded yesterday. There may have been volume records, but possibly not.
John's Jon’s Comments
Thursday’s comments will appear on Friday, in keeping with the laid-back tradition found in the
Regards,
John J. Lothian
Jonathan Matte
Pinch Editor
John Lothian Newsletter
|
||||||||||||||
Disclaimer: The John Lothian Newsletter is a product of John J. Lothian & Company, Inc. The opinions expressed are strictly the opinion of John Lothian, and not necessarily those of his employer, The Price Group and its management, and is intended solely for informative purposes and is not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named. Information is obtained from sources believed to be reliable, but is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. Security futures are not suitable for all customers.
Futures and options trading involve risk. Past results are no indication of future performance.
This is an opt-in newsletter. If you wish to unsubscribe, please check the address of list you are receiving the newsletter from and then click on the appropriate link below.
mailto:johnlothiannewsletter-request@johnlothiannewsletter.com?subject=unsubscribe
mailto:johnlothiannewsletter1-request@johnlothiannewsletter.com?subject=unsubscribe
mailto:johnlothiannewsletter2-request@johnlothiannewsletter.com?subject=unsubscribe
mailto:johnlothiannewsletter3-request@johnlothiannewsletter.com?subject=unsubscribe
mailto:johnlothiannewsletter4-request@johnlothiannewsletter.com?subject=unsubscribe
mailto:johnlothiannewsletter5-request@johnlothiannewsletter.com?subject=unsubscribe
If the unsubscribe links above do not work for you, please send an email to johnlothian@johnlothian.com with unsubscribe in the subject line.
This is a voluntary pay newsletter. The voluntary pay fee for a 1-year subscription is $95, or $55 for 6-months. For more details about this, or to sign up to receive the newsletter, please go to www.johnlothiannewsletter.com.