Comments on: Golden muni derivatives http://blogs.reuters.com/muniland/2011/04/28/golden-muni-derivatives/ Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Cate_Long http://blogs.reuters.com/muniland/2011/04/28/golden-muni-derivatives/comment-page-1/#comment-31 Fri, 29 Apr 2011 10:49:48 +0000 http://blogs.reuters.com/muniland/?p=472#comment-31 April 29 (Bloomberg) — Goldman Sachs Group Inc., JPMorgan Chase & Co. and 14 other investment banks face a European Union antitrust probe into credit-default swaps for companies and sovereign debt.

The European Commission said today it opened two antitrust probes. It will check whether 16 bank dealers colluded by giving market information to Markit, a financial information provider.

JPMorgan, Bank of America Corp., Barclays Plc, BNP Paribas SA, Citigroup Inc., Commerzbank AG, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs, HSBC Holdings Plc, Morgan Stanley, Royal Bank of Scotland Group Plc, UBS AG, Wells Fargo & Co., Credit Agricole SA and Societe Generale SA will be investigated for possible collusion in giving “most of the pricing, indices and other essential daily data only to Markit.”

http://noir.bloomberg.com/apps/news?pid= 20601087&sid=aV268t_3RCf0&pos=1

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By: Cate_Long http://blogs.reuters.com/muniland/2011/04/28/golden-muni-derivatives/comment-page-1/#comment-29 Thu, 28 Apr 2011 21:18:18 +0000 http://blogs.reuters.com/muniland/?p=472#comment-29 Reuters:

With supplies of new municipal bonds running well below forecasts for this year, California’s return to the market in the second half of the year could exert quite an impact.

Ronald Schwartz, a managing director for StableRiver Capital Management in Orlando, told Reuters in an interview: “When they finally do come back, it might be a tremendous volume and just overwhelm the market.”

California, whose lawmakers are still struggling to reach a budget agreement with Democratic Governor Jerry Brown, plans to save money by delaying general obligation sales until after the start of a new fiscal year on July 1.

If the pause in general obligation sales continues until a possible $5.76 billion offering this autumn, it would be the first time California has not sold general obligations in the Spring since at least 1988, according to the state Treasury.

http://www.reuters.com/article/2011/04/2 8/us-markets-municipals-idUSTRE73R6UV201 10428

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