Advance of Treasury before the Fed meets on the growth of Paris will suffer.

April 22, 2011, 12: 08 pm EDT by Susanne Walker

April 22 (Bloomberg) - treasuries rose for a second week as investors speculated that the efforts to reduce the federal budget deficit can wet the economic growth and were waiting for a policy statement the week next Federal Reserve.

Score of 10-year yields fell to the lowest level in a month even that Standard & Poor to put the Government of the United States on the notice that it risks losing its AAA credit rating then. Gains were tempered by advances in stocks. The United States sold 99 billion in notes next week, and the Federal open market Committee opened its meeting for two days on April 26."You are looking for an economy which is just off the coast of low levels", said David Coard, head of the trade in New York at Williams Capital Group, a broker for fixed income institutional investors. "The market is for orientation of the FOMC. We are looking for clues as to when the Fed could eventually begin to change course for monetary policy. "Two-year note yield fell three basis points or percentage 0.03 to 0.66%, point to New York 0.69% April 15, according to price Bloomberg Bond Trader. The security of 0.75%, due in March 2013 rose 7/32, or $2.19 per the nominal value of $1,000 yields note 6 / 32 .ten-year 100 fell to a point of basic-3.40%, from $ 3.41% on April 15. treasuries were headed for their first monthly gain since January, return, according to the index of Bank of America Merrill Lynch's Council of treasure Master of 0.54%.WeekVolume shortcut declined in a shortened week. Treasury bills trade closed 2 hours yesterday in New York and rest today closed for holidays Friday under a recommendation of the securities industry and financial markets Association. 980 Billion dollars in debt U.S. changed hands this week, compared to $ 1.5 billion in the five days ending April 15, according to Icap Plc, broker dealers more of the world.Fed policy makers will leave the target rate for the loan of the overnight between banks unchanged the week next to zero to 0.25%, where it has been since December 2008, according to all the 80 economists in a survey of Bloomberg. Officials, last met on March 15, may discuss what path of the Central Bank will have in its program for the purchase of 600 billion in Treasury bills ends in June. "The last time the Fed met it was just after the disaster of the Japan, so it might have been a sense that the Fed held back to see how the markets and economies have responded to those who care about the circumstances"stated Jim Vogel, responsible for the research agency of the debt to TFN in Memphis (Tennessee), referring to the earthquake record of the Japan on March 11." "The Fed may be more freely discuss their general economic prospects." Which will be adjusted to the FOMC people. "Economic DataTreasuries won yesterday as economic general index of the Fed dropped Philadelphia to 18.5 in April, the lowest level since November, so that initial applications for unemployment benefits fell to 403 000 in the week ending April 16showed data of the Ministry of labour. Bloomberg surveys predicting a reading of the index of 36.9 and a decrease in unemployed-application to 390, 000.U.S. product domestic crude has slowed to an annual growth of 1.8 per cent of the pace in the first quarter, median forecast of 32 economists in a Bloomberg News survey ofcompared to 3.1% in the fourth quarter and 2.6% in the third. The Commerce Department reported that data on earnings for April 28. of the Treasury were limited this week that stocks have increased the estimates of income reports best companies. The S & P 500 Index gained 1.3%, while the MSCI World Index rose by 1.6%, the largest weekly gain in a month.The dollar had lost against all 16 of his counterparts traded to the largest part, partly on speculation that the Fed will be behind other central banks to increase interest rates. The European Central Bank raised its key rate April 7 to 1.25% to a record low 1%. Ministry of Finance of the Council of Treasury AuctionsThe said that it will sell 35 billion dollars in the two-year notes, $ 35 billion over five years the debt and $ 29 billion in seven years on securities auction on three consecutive days as of April 26. The sizes in the trio of offerings have been unchanged since October and corresponded to the average of forecasts in a survey of Bloomberg's new primary dealers of the Fed.La auction for five years on April 27 has been postponed to 11: 30 am. New York Times, until the Fed released its statement at 12: 30, followed by a public briefing by s. Ben Bernanke, Chairman at 2 p.m. under a new system. Offers are usually due by 1 a.m. .the U.S. p sold a record yesterday five-year Treasury Inflation protected securities $ 14 billion, a negative return for a second straight offer of drawing. Performance is negative 0.180%, compared to the forecast of negative 0.1825 per cent in a survey of primary dealers 6. "Pay a premium '"People pay a premium to own protection against inflation,"said James Golden, head of government trade in New York to Jefferies Group Inc., which as one of the 20 primary dealers is obliged to bid at the auction of U.S. debt.A measure of bond market of inflation expectations that the Fed uses to help determine monetary policy was 3.06 points percentage, compared to the percentage points of 2.82 on March 23. It reached a record of 10 months of 3.28 percentage points in December. Rate of return before five years, five years of the projects that the pace of consumer price increases may be beginning in 2016. He was an average 2.78 percentage points over the past five years.The actual performance of the 10-year benchmark, performance note less index year core, was 2.27% yesterday, compared to a median of 10 years of 2.14%.Can aggravate the bonds also suggested this week on speculation European sovereign debt crisis. Budgetary problems of the Greece pushed yields on the notes of two years of the nation up to Records. Performance yesterday has climbed to 23.3%, highest since before the euro was introduced in 1999.

-Editors: Greg Storey, Paul Cox

To contact the reporters on this story: Susanne Walker in New York at swalker33@bloomberg.net.

To contact the editor responsible for this story: Robert Burgess to bburgess@bloomberg.net

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The Council of the US Treasury said to await the results of GM before planning the sale

April 18, 2011, 10: 09 pm EDT by David Welch and Rebecca Christie

April 18 (Bloomberg)--the Treasury Department will wait for the results of the first quarter of General Motors Co. before deciding to sell more automaker's shares, said a person familiar with the case.

The Treasury may sell part of its remaining shares of 500 million GM, which is equal to the property of 33 per cent from May 22. Officials are awaiting results of gains in the first quarter of GM and see what is happening in the stock when the holders in the company of predecessor of GM bankruptcy will receive shares as partial compensation for their lossessaid the person, who did not want to be identified, because the plans are not public.GM fell to 19 percent this year in return for New York and 9.3% of its initial public offer price. While the Treasury may be ready to take a loss on the shares, which closed today at $29.97, the administration of Obama is looking for a price which is at least of the order of $33 IPO pricesaid the person. The Government would need to sell the shares at about $53 each profitability of investment.The Treasury Board may file to sell the shares with a traditional deposit S-1 after a blocking period expires on 22 May. The Securities and Exchange Commission would examine the offer as an introduction on the stock market, which could delay the actual sale until June, said the person.If the Department is waiting until July 1, the Government would be able to sell the shares with a less thorough examination and that he would get the offer to start faster. In this case, likely Treasury would be expected that the Detroit-based GM said profit in the second quarter before selling more stock, delaying the sale until August, said the person.Later OfferingsThe Treasury can take a third offer of the shares in November or December and did not need all the shares sell this year, the person said.Members of working group for the car of the Department met the Secretary of the Treasury Timothy f. Geithner, who would decide on any sale of shares of GM, to discuss a possible secondary offering synchronization, the person said.The Treasury, belonging to 61% of GM after his bailout 2009 manufacturer's car, sold the shares equal to a set of 28 per cent over the introduction on the stock exchange. In a January interview, Ron Bloom, who was the head of the Working Group of the automobile industry, the administration of the Obama at the time of the introduction on the stock exchange, said that the Government wanted to sell its shares in GM "as soon as possible."

-Editors: Kevin Orland, Chris Wellisz.

To contact the reporters on this story: David Welch in Southfield, Michigan, at dwelch12@bloomberg.net; Rebecca Christie in Washington at rchristie4@bloomberg.net.

To contact the responsible editors of this story: Kevin Orland to korland@bloomberg.net; Chris Wellisz to the cwellisz@bloomberg.net

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The Iceland President defends the towers before the crisis to promote the model of the Bank - Bloomberg

April 11 (Bloomberg) — the Icelandic President Olafur Grimsson speaks of the claims agreement filing with the United Kingdom and the Netherlands following a referendum in which Icelandic voters rejected a proposal to repay foreign applicants. Grimsson speaks of Reykjavik with Maryam Nemazee for Bloomberg Television "pulse." (Source: Bloomberg)

President ólafur r. Grimsson the Iceland defended his efforts to promote the model of Bank of the island in the years that led to the crisis, arguing that it was his duty to speak of an industry which was the creation of jobs.

"It is always the mandate of the President to support the economy of the country and these three banks were the biggest companies," he said in an interview on April 12, in Copenhagen before to speak at the Institute for Corporate Governance lessons from the crisis. "They were thousands of young Icelandic with employment opportunities, in Iceland and in other parts of the world."

The former leaders of the largest banks of the Iceland, which collapsed in 2008 after amassing debts more than 10 times the size of the economy, are now being surveyed financial crimes that prosecutors say stimulated the economic collapse of the island. Grimsson, 67, in a speech from May 2005 assigned Bank growth of the Iceland to the "corporate culture" of the country and a tendency to "challenge dominant theories taught in business schools met."

Now, Grimsson said "it would be strange if the President over the years had not participated in the promotion of the largest companies of the Iceland." Financial industry employee Island 4.3% of the active population of the country in 2006 or 7 300 persons, data show Statistics Iceland. Industry represents 5.1 per cent of workers in 2008, the Bureau believes.

The President in February blocked the efforts of the Government to settle the claims of foreign applicants from Landsbanki Islands hf, once the largest in the country second lender, arguing the taxpayers of the Iceland should not cover the losses created by poorly managed private banks. That triggered a referendum, in which 59.7% of the voters on 9 April rejected an agreement of Government with the United Kingdom and the Netherlands.

The dispute will now be settled in the Court of the European Free Trade Association at Luxembourg, where procedures are likely to take about a year, Finance Minister Steingrimur j. Sigfusson, said April 10.

Moody's Investors Service 23 February warned that failure to resolve the dispute filing, called Icesave, would trigger a junk e-mail rating downgrade. Fitch Ratings Ltd. has ranked Iceland debt non-investment grade since the veto of January 2010 the Grimsson of an applicant agreement earlier. Said companies that Iceland will experience difficulties tapping international debt markets unless the depositor claims are resolved.

Grimsson accuses rating firms to mislead the Iceland policy makers before the crisis by giving banks credit high notes. According to him, that he has travelled the world praising the "peculiar." Iceland lenders since they received very positive comments by the authorities of international rating

In an April 11 interview with Bloomberg Television, he called history of Moody on the assessment of the risks of credit "appalling."

Board of special inquiry Iceland, which last April published approximately 3,000 pages of results on the causes of the banking crisis, said the role of the Grimsson in the financial collapse was "particularly interesting", according to the report.

"It cannot avoid probing the Office of the President especially in this regard, because of his servitude, for the trip and individuals at the forefront" concluded the report. Grimsson is "moral responsibility for the theatre piece", the report. It "forcefully draws a picture embellished, arrogant and nationalist of the superiority of the Icelanders, based on the former heritage." Note that some of the qualities that the thought of the President have been admirable were exactly the characteristics that led to their and the disappearance of the nation. ?

Grimsson, stated that his support for the industry was also based on assessments by the authority of financial supervision of the Iceland. The Board of special inquiry found since the regulator does not have to monitor the banks properly.

"Although there are a number of warning signs, regulatory authorities and the international rating agencies continue to give banks very good remarks," said Grimsson. "As my colleague heads of States promote the larger companies in their countries, but a long part of the Presidency of the Iceland," he said. "" "". In the decades preceding it was mainly the fishing industry and agricultural societies but 10 years ago, that banks have become the largest companies. ?

Moody, rated the sovereign debt of the Aaa Iceland up to five months before its financial sector collapsed in October 2008, has stated in an April 2006 report written by analyst Joan Feldbaum-Vidra concerns "risks that may accompany an increased influence in the economy" have "recently been exaggerated."

Grimsson, who became President in 1996, is now touring geothermal expertise Iceland global promotion, including it in a January 28 interview in Davos, Switzerland, called "a very important global mission for the Iceland."

Olafur Hauksson, Special Prosecutor of the Iceland, has investigated 112 cases related to the banking crisis of the island. The Supreme Court sentenced March 24 brokers to failed Kaupthing Bank hf, once lender more of the Iceland, to six months in jail after finding that they manipulated bond deals. The District Court of Reykjavik sentenced April 7 Baldur Gudlaugsson, former permanent Secretary to the Ministry of finance, to two years in prison for insider trading with Landsbanki shares. Haukur Thor Haraldsson, a former manager with Landsbanki, was charged with money transfer illegally the subsidiary of the Bank to his personal account.

The full investigation of financial crimes which led to the collapse of the banking Iceland will be completed by 2014, said Hauksson.

To contact the reporters on this story: Christian Wienberg in Omar Valdimarsson London cwienberg@bloomberg.net to the valdimarsson@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger to tbrogger@bloomberg.net

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