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米銀大手４行、カバード・ボンド市場育成計画を発表
Paulson, Banks Unveil Plans for Covered Bonds (WSJ.com)
WASHINGTON -- Four of the U.S.'s leading banks are jumping on a government bandwagon to promote the development of a covered-bond market in the U.S.
Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co. and Wells Fargo & Co. Monday unveiled plans to launch covered-bond programs and become leading issuers of the financial instruments, which date back to 18th-century Europe.
The bonds, secured by residential mortgage assets that would remain on the issuer's balance sheet, are seen as a new liquidity tool for banks. Covered bonds, although unfamiliar to many U.S. investors, are a $3 trillion market used ...
to jump on a government bandwagon to do: ～する政府案を支持する
covered bond: カバード・ボンド、住宅ローン債権を裏付け資産とする社債、住宅ローンの返済金を担保にすることで社債の信用力を高める仕組み
米財政赤字、09年度は過去最高に 景気対策に伴う歳出と景気後退
Stimulus, Sagging Economy To Balloon Federal Deficit (WSJ.com)
WASHINGTON -- The sluggish U.S. economy and the cost of this year's economic stimulus package will push the federal budget deficit into record territory in fiscal 2009, the White House said Monday.
The Office of Management and Budget said it expects next year's budget gap to soar to $482 billion, $75 billion higher than its previous estimate. The deficit for the current fiscal year, which ends Sept. 30, is projected to come in at $389 billion, $21 billion lower than the administration's February forecast.
The budget figures, which don't include funds for the wars in Iraq and Afghanistan beyond 2009, will intensify the election-year debate over fiscal policy. Democrats say the deterioration in the nation's finances is a reflection of President Bush's economic priorities, and a sharp reversal from Clinton-era black ink. The administration counters that recent high deficits are a short-term phenomenon resulting from the economic slump.
sluggish U.S. economy: 低迷する米景気
federal budget deficit: 財政赤字
Office of Management and Budget: OMB、行政管理予算局
米消費者製品安全法案、上院と下院が改正に合意 規制強化へ
House, Senate Reach Agreement On Consumer Product Safety Bill (WSJ.com)
House and Senate conferees reached an agreement on a bill that's expected to pave the way for the first major reform of consumer product safety regulation in nearly a generation.
The bill provides new enforcement powers and added resources for the beleaguered Consumer Product Safety Commission, while strengthening standards for toys, other children's products, and all-terrain vehicles. The legislation comes as product recalls are happening at a much faster rate this year than last year, even as many manufacturers and retailers say they've already toughened their safety standards ahead of Congressional action.
Recalls were up 22% for the nine-month period ...
consumer product safety bill: 消費者製品安全に関する法案
Consumer Product Safety Commission: CPSC、消費者製品安全委員会
recall: リコール
米食品大手の４－６月期、クラフト・フーズとリグリーは増益 タイソン・フーズは減益
Profit Rises at Kraft, Wrigley; Tyson's Net Income Sinks (WSJ.com)
Passing along higher costs to consumers helped Kraft Foods Inc. and Wm. Wrigley Jr. Co. offset high commodity costs in the second quarter, but Tyson Foods Inc. hasn't been able to raise its chicken prices enough to overcome high feed costs.
Both food and meat companies have been hit with higher fuel and ingredient costs as the world supply of grains hasn't kept pace with demand in markets like China and India. Packaged food manufacturers have been able to cover much of their high energy, packaging and ingredient costs with price increases, but because of an oversupply of meat, ...
to pass along higher costs to consumers: コスト高を製品価格に反映させる
packaged food manufacturer: 加工食品メーカー
米通信大手ベライゾンの４－６月期、純利益12％増 好調な通信事業
Verizon's Wireless Business Leads to 12% Profit Growth (WSJ.com)
Verizon Communications Inc.'s net income rose nearly 12% as continued strength in wireless covered for steep declines in its traditional landline and DSL businesses.
The New York telecommunications company Monday reported second-quarter net income of $1.88 billion, or 66 cents a share, compared with a year-earlier profit of $1.68 billion, or 58 cents a share. Revenue, meanwhile, rose slightly to $24.12 billion from $23.27 billion a year ago.
"You're seeing a marked difference between Verizon and AT&T in terms of economic impact," said Christopher King, an analyst at Stifel Nicolaus & Co. "Verizon doesn't seem to be seeing that at ...
traditional landline and DSL businesses: 固定電話・DSL事業
meanwhile: 一方で
米オバマ氏、景気回復への努力を約束 現政権と金融業界を非難
Obama Promises Efforts To Revive Economy (WSJ.com)
WASHINGTON -- Barack Obama on Monday blamed "irresponsible decisions" by the Bush administration and Wall Street for the country's economic woes as government officials said the budget deficit would soar to record heights next year.
Turning to domestic problems after a week's tour of the Middle East and Europe, Sen. Obama met with more than a dozen economic advisers, appearing with them briefly before retreating for a two-hour closed meeting. The new deficit numbers were the latest sign of an economy in decline, with foreclosures rising, home prices falling, soaring energy prices and nearly a half-million job losses since January.
Sen. Obama said the economy needs both short- and long-term fixes, including another round of "stimulus" measures from Congress to revive the economy and a longer-term focus on renewable energy to curb high gas prices and on universal health care to trim costs. He said he would move "rapidly and vigorously" to respond.
to revive economy: 景気を回復させる
both short- and long-term fixes: 短期・長期的改革
米SECの空売り規制、金融業界が暫定措置の拡大・延期を求める
SEC Intensifies Efforts To Rein In Short Selling (WSJ.com)
Wall Street executives expect the Securities and Exchange Commission to extend the temporary limits it has placed on short-selling and expand them to cover additional stocks beyond the 19 financial companies it targeted two weeks ago.
The limits are set to expire Tuesday, and executives, lobbyists and hedge-fund representatives of the Managed Funds Association, the biggest hedge-fund industry group, have been talking throughout the weekend, trying to come up with possible approaches to asking the SEC to reconsider expanding the rules, according to people familiar with the talks.
A call with regulators on Friday gave the funds group "a fair degree of certainty" that the SEC intends to seek an extension of the emergency period, these people said. Regulators said an extension could be for as short as 60 days and could involve insurance, housing-industry and a broader range of financial stocks, according to these people. SEC Chairman Christopher Cox indicated last week the rules might be extended to all stocks.
lobbyist: ロビイスト
a fair degree of certainty: 安心できる確実性
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