Movimientos de la curva de rendimientos de TES tasa fija en Colombia *.
Resumen: El presente documento tiene como objetivo principal describir los diferentes patrones que se encuentran presentes en las fluctuaciones de la curva de rendimientos de TES tasa fija para el mercado de deuda pública colombiano, tomando como período de referencia septiembre de 2003 a julio de 2004. Para tal...

Responding to crises.
They say "there are no atheists in foxholes." Perhaps, then, there are also no libertarians in crises. Even those in favor of sharply reducing the role of the government usually agree that, for example, there is a valid lender of last resort role for the central bank in the...

Fed raises US rates, hints at more measured hikes.
Byline: GLENN SOMERVILLE WASHINGTON, Nov. 2 (Reuters) a" The Federal Reserve raised US interest rates Tuesday for the 12th straight time, taking them to the highest level in more than four years and indicating more hikes will be needed to keep inflation at bay. The...

How to fix the budget without hurting the country; some common sense solutions.
How to Fix the Budget Without Hurting the Country The unctuous-looking salesman in the magazine ad offers the reader a bottle labeled "Securities Transaction Excise Tax." The advertiser is Merrill Lynch, and the accompanying text warns that such a new tax on stock and bond trades "could have...

Expect the Best and Prepare for the Worst.
Expect the Best and Prepare for the Worst Bill Fiddler The weather reports were ominous. A hurricane was heading toward the Hawaiian Islands and the projected path could devastate my home and business. We responded by determining time frames for making decisions should things get...

Determinants of daily fluctuations in liquidity and trading activity.
1. INTRODUCTION Transaction expenses can accumulate to a relatively large decrement in total return when portfolios are turned over frequently. Since money managers often trade several securities simultaneously, it is important to know whether trading costs are correlated across securities. Yet research on trading costs has focused...

Treasurer's report.
Despite some turbulence in the financial markets, most notably the sub-prime mortgage crisis, the Melville Society had a respectable year in 2007. The Murray Endowment has posted a positive YTD return of 3.4%, the Cohen Fund has posted a 7.0% YTD return, and the Society's autumn solicitation of membership...

Tracking bonds' record: a new bond index from Swiss Re provides needed transparency to CAT bond market, perhaps more.
About $4.9 billion in catastrophe bonds were issued in 2006, according to the world's biggest reinsurance company, Swiss Re. Just in the first half of 2007, another $3.8 billion were issued. Despite this increased activity, investors might not consider this market as enticing as it could be because of...

Economic & market indicators.
Market Rates and Bond Yields--% Mar. Sept. Mar. Sept. Mar. Mar. 2007 2006 2006 2005 2005 2004 Reserve Bank Discount Rate 6.25 6.25 5.53 4.59 3.58 2.00 Prime Rate (monthly average) 8.25 8.25 7.53 6.59 5.58 4.00 Federal Funds Rate 5.26 5.25 4.59 3.62 2.63 1.00 3-Month Treasury Bills...

Economic & market indicators.
For continuously updated economic indicators, visit www.appraisalinstitute.org. Market Rates and Bond Yields--% Jan. July Jan. July Jan. Jan. 2008 2007 2007 2006 2006 2005 Reserve Bank Discount Rate 4.48 6.25 6.25 6.25 5.26 3.25 Prime Rate (monthly average) 6.98 8.25 8.25 8.25 7.26 5.25 Federal Funds Rate...