Wikio - Money markets

SBP Sells 84-Day T-Bills (Pakistan News)

Sat, 05 Jul 2008 11:02:54 GMT

KARACHI :The State Bank of Pakistan (SBP) sold 30.75 billion rupees ($440.54 million) in 84-day Treasury bills at 11.52 percent to primary dealers on Saturday in an outright sale to mop up funds from the money market. It also sold 31.5 billion rupees ($451.28 million) in five-day repo contracts at 9.90 percent. Settlement will [...]

Source : Pakistan News (subscribe)

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4th of July Bank CD and Money Market Rate Specials from EverBank, US Bank and IndyMac Bank (The Savings investor)

noreply@blogger.com (The Savings Investor) — Fri, 04 Jul 2008 14:24:00 GMT

Three major American banks are in the giving mood on the nation's 232nd birthday with rate specials on CDs and money markets: US Bank 5.00% APY on their 59-month CD, $100 minimum deposit 4.00% APY on their 25-month term CD, $100 minimum deposit EverBank 4.65% APY on their money market account, intro-APY guaranteed for 90 days, $1,500 minimum IndyMac Bank 4.00% APY...

Source : The Savings investor (subscribe)

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“But I earn $300/year from switching banks!” (I Will Teach You To Be Rich)

Thu, 03 Jul 2008 13:24:11 GMT

A little comment exchange on yesterday’s post about not switching banks to get an extra 0.25% interest: Mike: I’m one of those rate-chasers, so [with $40k in emergency savings], I’ve consistently been earning anywhere between 0.65-0.85% higher than my operating money market account… That’s an extra $300/year in interest, which is definitely worth changing banks [...]

Source : I Will Teach You To Be Rich (subscribe)

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Smaller Local Banks Offering Loan Rates, Money Market Rates, CD Rates Online (The Savings investor)

noreply@blogger.com (The Savings Investor) — Wed, 02 Jul 2008 16:43:00 GMT

... below all offer a simple application process through the US mail or online. Amegy Bank 3.65% APY Money Market Account Atlantic Coast Bank 5.00% APY 5-year Certificate of Deposit (CD) Tennessee Commerce Bank 4.30% APY 3-year Certificate of Deposit (CD) View a complete list of bank rate deals by state Surprisingly it can also in some cases be a simpler process to get a loan from a small...

Source : The Savings investor (subscribe)

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Excess Crude Fund Crashes Inter-Bank Interest Rate (All Africa)

Wed, 02 Jul 2008 11:51:31 GMT

Cost of funds in the inter-bank money market fell sharply yesterday following inflow of N563 billion excess crude fund shared by the three tiers of government.

Source : All Africa (subscribe)

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CMMB to arrange cross-listing of Supreme Ventures (Jamaica Gleaner :: Business)

Wed, 02 Jul 2008 07:24:41 GMT

Lottery company Supreme Ventures Limited (SVL) has hired CMMB Securities Limited (CMMB), a division of Caribbean Money Market Brokers, to arrange the cross-listing of its shares on the Trinidad and Tobago Stock Exchange. CMMB, a subsidiary of Jamaica Money Market Brokers...

Source : Jamaica Gleaner :: Business (subscribe)

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Money Market Steadies (The Street)

twocents@thestreet.com (Tony Crescenzi) — Tue, 01 Jul 2008 19:08:00 GMT

Investors are taking on more risk at the start of the quarter.

Source : The Street (subscribe)

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Finance Thesis Statements (Thinking made Easy)

Tue, 01 Jul 2008 18:41:25 GMT

Money market mutual funds are not subject to reserve requirements, which in turn banks have been subject to unfair and undue advantages. The growth of several government agencies has produced liquid secondary market in mortgage and increase the risks borne by mortgage lenders. The decline of the United States economy...

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Ratings firms flag Legg Mason; stock drops (Market Watch)

Tue, 01 Jul 2008 18:22:15 GMT

BOSTON (MarketWatch) -- Shares of investment manager Legg Mason Inc. were off nearly 5% on Tuesday afternoon following the company's announcement that it would provide additional support to its money market funds hit by problems in the asset-backed commercial paper market. Standard & Poor's Ratings Services on Tuesday revised Legg Mason's outlook to negative from stable, while...

Source : Market Watch (subscribe)

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Moody's Mulls Legg Mason Cut (Law Blog - WSJ.com)

Tue, 01 Jul 2008 18:07:00 GMT

Moody's is considering cutting the debt ratings of Legg Mason following the asset-management firm's disclosure that it will incur further losses to support the net asset value of its money-market funds.

Source : Law Blog - WSJ.com (subscribe)

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Moody's may downgrade Legg Mason (Market Watch)

Tue, 01 Jul 2008 17:30:05 GMT

SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Tuesday placed Legg Mason Inc.'s debt ratings on review for possible downgrade. The move comes after the company said it will incur further losses in its ongoing support of many of its constant net asset value money market funds. "Investment performance across Legg Mason's platforms, and its potential to negatively impact flows...

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Tax-Free Money-Market Funds Shine (The Street)

twocents@thestreet.com (Kevin Baker) — Tue, 01 Jul 2008 16:43:00 GMT

Among bond funds in May, four municipal funds also made the top-performer list.

Source : The Street (subscribe)

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Report on the Money Market & Other Banking in the US Available Now (Business Wire)

Tue, 01 Jul 2008 12:02:00 GMT

DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (

Source : Business Wire (subscribe)

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Q&A - Money markets and the credit crunch (The Complete MoneyScience)

Tue, 01 Jul 2008 09:58:28 GMT

... of the major effects of the credit crunch has been a dramatic widening... View the full item at MoneyScience.

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Legg acts to brace 3 funds (Baltimore Sun)

Tue, 01 Jul 2008 04:00:00 GMT

Firm plans charge of $265.3 million Legg Mason Inc. said yesterday that it will take a $265.3 million charge in the quarter ended yesterday, more than half of it to shore up more money market funds invested in troubled asset-backed securities.

Source : Baltimore Sun (subscribe)

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Legg Mason to take $155M in charges to stave off fund losses (The Baltimore Business Journal)

Mon, 30 Jun 2008 23:41:31 GMT

Money manager Legg Mason Inc. said late Monday that it expects to take $155 million in charges against earnings as it moves to shore up its money-market funds. (LM)

Source : The Baltimore Business Journal (subscribe)

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Legg Mason supports money market funds hit by credit crisis (Market Watch)

Mon, 30 Jun 2008 23:01:00 GMT

SAN FRANCISCO (MarketWatch) -- Legg Mason said late Monday that it will provide up to $240 million to support money-market funds that have been hit by the credit crunch.

Source : Market Watch (subscribe)

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Legg Mason Backs More Funds (Law Blog - WSJ.com)

Mon, 30 Jun 2008 21:35:00 GMT

Legg Mason agreed to contribute $240 million in capital to support three of a unit's money-market funds, the firm's latest effort to stabilize its cash funds as the credit crunch continues to roil financial markets.

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Legg Mason Provides Money Market Fund Update (The Earth Times Online Newspaper)

Mon, 30 Jun 2008 21:00:13 GMT

BALTIMORE, June 30 -- Legg Mason, Inc. (NYSE: LM) announced that the Company has entered into capital support agreements (CSAs) to support three money market funds managed by a subsidiary of the Company. Neither the fu...

Source : The Earth Times Online Newspaper (subscribe)

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What's With the Libor Spike? (Seeking Alpha)

Mon, 30 Jun 2008 17:35:01 GMT

John Jansen submits: Some subscribers have inquired about the huge spike in overnight Libor today. It has jumped by 111 basis points to 3.61 percent from 2.50 percent. I did converse with a money market trader who ascribes the jump to quarter end and expects a return to normality in a few days. Complete Story »

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