Dollar Being Used to Fund `Carry Trade,' May Still Be Overvalued, IMF Says The International Monetary Fund said
traders are probably using the dollar to fund “carry trades”
around the world and the currency may still be overvalued even
after its slide this year.
U.S. Jobless Rate Jumps to 26-Year High of 10.2%, Posing Risk to Recovery The unemployment rate in the U.S.
jumped to 10.2 percent in October, the highest level since 1983,
threatening the emerging economic recovery and giving President
Barack Obama and Democrats a bigger hurdle to overcome before
next year’s Congressional elections.
U.S. Treasury Two-Year Notes Gain as Unemployment Rate Tops 10% in October Treasury two-year note yields touched
the lowest since May after the U.S. unemployment rate rose to a
26-year high of 10.2 percent and the Federal Reserve said it
will keep rates at record lows for an “extended period.”
Berkshire Net Income Triples to $3.2 Billion on Buffett's Stock, Bond Bets Billionaire investor Warren Buffett’s
Berkshire Hathaway Inc. said third-quarter profit tripled on
gains in derivatives tied to stocks and bonds.
UCBH Holdings' Bank Is Seized, Becomes 120th U.S. Lender Closed This Year UCBH Holdings Inc.’s United
Commercial Bank, a San Francisco-based lender with $11.2 billion
in assets, was seized by regulators, becoming the 120th U.S.
bank to fail this year.
Fannie Mae Bid to Sell Tax Credits Vetoed by U.S., Thwarting Goldman Sachs Fannie Mae’s request to sell $2.6
billion in low-income housing tax credits would be a bad deal
for taxpayers and won’t be allowed, the U.S. Treasury said.
Codelco Increases Japan, South Korea Copper Charges to $74 a Ton for 2010 Codelco, the world’s biggest copper
producer, will raise the surcharge on sales to Japan and South
Korea by as much as 16 percent next year as demand from China
lifts metal prices.
Geithner, Brown Split on Transaction Tax as G-20 Seeks Rebalanced Economy Group of 20 governments split on
whether to tax financial trading as part of a broader strategy
to ensure the global economy’s expansion is less crisis-prone.
Argentina to Make Offer on $20 Billion of Defaulted Debt, May Sell Bonds Argentine Economy Minister Amado
Boudou said the country plans to make a proposal on the
restructuring of $20 billion of defaulted bonds within 30 days
and may sell new international debt in the first quarter.
Brazil Real Posts Best Weekly Gain in 3 Months as Tax Fails to Stem Rally Brazil’s currency posted its biggest
weekly gain in three months, heightening speculation the
government may be planning measures to curb dollar inflows after
a tax on stocks and bonds failed to reduce gains in the real.
Venezuela Allows Central Bank to Trade PDVSA Bonds to Help Prop Up Bolivar Venezuela’s government authorized the
central bank to buy and sell bonds issued by state-run oil
company Petroleos de Venezuela, setting the stage for increased
intervention to strengthen the bolivar.
Brazil Stocks Drop, Pare Weekly Gain, as U.S. Data Sparks Recovery Concern Brazil’s Bovespa index fell for the
first time in four days as a jump in the U.S. unemployment rate
hurt the export outlook for commodity producers, overshadowing a
surge in profits at Lojas Americanas SA and Gafisa SA.