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米住宅抵当公社ファニーメイの４－６月期、最終赤字23億ドル 減配
Fannie Posts Deep Loss, Slashes Dividend Payment (WSJ.com)
Fannie Mae reported a bigger-than-expected loss of $2.3 billion for the second quarter and said it expects further heavy losses from home-mortgage defaults.
Mounting losses at both Fannie and Freddie Mac, the two main providers of funding for home mortgages, are limiting their ability to buy and guarantee home loans. That is likely to mean higher interest costs for consumers and more downward pressure on home prices.
"Mortgage rates can easily go as much as 0.25 percentage point higher this fall, even if general interest rates remain stable or drop," said Jim Vogel, an analyst at FTN Financial Capital Markets.
bigger-than-expected loss: 市場予想以上の最終赤字幅
to be likely to mean: ～を意味すると考えられる
米労働生産性、前期比2．2％上昇 ４－６月期、景気減速にも関わらず上昇続く FRBリスク管理の一助に
Productivity Rise Eases Fed Pressure (WSJ.com)
WASHINGTON -- U.S. productivity remained elevated in the second quarter despite a sluggish economy and weak manufacturing, making it easier for Federal Reserve officials to balance risks to both economic growth and inflation while holding interest rates low.
Labor costs, meanwhile, slowed markedly, suggesting high energy prices have not triggered the kind of wage-price spiral that bedeviled policymakers in the 1970s and early 1980s.
Meanwhile, inventories held by U.S. wholesalers continued to rise in June, growing nearly twice as much as expected although climbing at a slower clip than sales, a government report released Friday said.
productivity: 生産性
labor cost: 人件費
wage-price spiral: 賃金と物価のインフレスパイラル
米モノライン最大手ＭＢＩＡの４－６月期、黒字転換 ヘッジ利益33億2000万ドル
Hedging Gains Return MBIA to Profitability (WSJ.com)
MBIA Inc.'s second-quarter net income surged on $3.32 billion in unrealized hedging gains, returning the company to profitability after three straight quarters of losses.
The nation's largest bond insurer also said it resumed a share-buyback program it suspended a year ago. About $340 million can be bought under prior authorizations.
While Chief Executive Jay Brown said he expects "the rest of this year, and perhaps next, will be bumpy" until credit markets stabilize, "MBIA has the resources to meet whatever challenges may lie ahead."
unrealized hedging gains: ヘッジ手段に係る評価益
bond insurer: 金融保証会社、モノライン
bumpy: 浮き沈みの激しい
米鉄道旅客輸送アムトラック、原油高騰で乗客数増
All Aboard: Too Many for Amtrak (WSJ.com)
WASHINGTON -- The number of people riding Amtrak surged 13.9% in July from a year earlier, as high gas prices caused more commuters to rely on intercity rail.
But many Amtrak trains are getting overcrowded, and a backlog of infrastructure problems stands in the way of expanded service.
In July, Amtrak said, only one of its services saw fewer riders compared with the previous year. Elsewhere, there were major gains, such as a 33% jump on the Capitol Corridor between San Francisco and Sacramento, Calif.
backlog of infrastructure problems: 未解決のインフラ問題
Capitol Corridor：:キャピトル・コリドー、カリフォルニア州オーバーン－サンノゼ間を運行する列車
スイス金融大手UBS、ＡＲＳ220億ドル買い戻しに合意
UBS agrees to buy back $22bn in ARS (FT.com)
UBS has agreed to increase its buyback of auction-rate securities to $22bn and pay a $150m fine to settle claims from regulators that the Swiss bank misled investors.
The settlement, the largest to date, commits UBS to buying back more of the securities than Citigroup and Merrill Lynch combined. The two US banks announced on Thursday they would buy backup to $20bn of ARS.
Under the deal with UBS, the Swiss bank will buy back $18.5bn of ARS sold to both retail and institutional investors, according to people familiar with the details. The deal follows an agreement last month by the bank to buy back an initial $3.5bn of ARS.
auction-rate securities: ARS、欧米金融機関が顧客に安全性や換金性の高さを強調して販売した仕組み債
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