Tuesday, October 1, 2013

The Bond Market Is Plunging Deeper Into The Red On Heavy Selling Volume


You are using an outdated version of Internet Explorer. For security reasons you should upgrade your browser. Please go to Windows Updates and install the latest version. Continue to Business Insider »

You will be redirected in seconds.


View the original article here

BlackBerry Lost $84 Million Last Quarter, Stock Tanks 24% (BBRY)


You are using an outdated version of Internet Explorer. For security reasons you should upgrade your browser. Please go to Windows Updates and install the latest version. Continue to Business Insider »

You will be redirected in seconds.


View the original article here

Obama Now Has 'Short List' Of Bernanke Replacements To Review Before Nominating Janet Yellen

Bill Clinton, Janet Yellen REUTERS

That's probably your next Fed Chair(wo)man back there.

WASHINGTON (Reuters) - The White House has assembled a short list of candidates to succeed Federal Reserve Chairman Ben Bernanke, a source familiar with the process said on Thursday, and U.S. Treasury Secretary Jack Lew is running the search.

Bernanke is expected to leave when his second term as head of the central bank ends on January 31, after an eventful eight years in helping the U.S. economy recover from the worst recession since the Great Depression.

President Barack Obama hinted in a television interview this month that Bernanke would step down, comparing him to longtime FBI Director Robert Mueller, who agreed to stay two years longer in the job than he had planned, and is now to leave.

Lew has assembled a short list with help from several senior White House officials, the source said, speaking on the condition of anonymity.

There was no information on who is on the list, although Fed Vice Chair Janet Yellen, former Obama adviser Lawrence Summers and former Treasury Secretary Timothy Geithner are considered to be likely leading choices.

"We decline to comment on speculation on any personnel matters until the president has made his decisions and is ready to announce them," said Amy Brundage, a White House spokeswoman.

"The president believes that Chairman Bernanke is a vital and excellent partner in promoting our economic recovery and he continues to serve admirably and with distinction during this important time for our country," she said.

BERNANKE SILENT; YELLEN SEEN IN THE LEAD

Bernanke has yet to say whether he would like to serve another four years at the helm of the central bank, but has done little to dampen speculation he is ready to leave.

The likely succession could come at a delicate juncture for U.S. monetary policy.

Bernanke said last week that the central bank expected to lighten up later this year on the amount of money it is pumping into the economy each month through a bond-buying program.

He said the Fed would likely draw that program to a full close around the middle of next year, when policymakers at the central bank expect the jobless rate will have fallen to around 7 percent from its current 7.6 percent.

Those comments spurred a big selloff in stock markets around the globe and sent the yield on the benchmark 10-year U.S. Treasury note soaring. It reached a 22-month high of 2.67 percent on Monday.

Fed officials have mounted a concerted effort to convince markets they overreacted to the chairman's remarks, and they have underscored the central bank's commitment to keep overnight interest rate near zero until unemployment drops to at least 6.5 percent. Stock markets have since stabilized and bond yields have fallen back.

The market volatility, however, underscored the tricky task the Fed faces in stepping away from the controversial and unprecedented easing of monetary policy Bernanke led.

To combat the deep recession and heal the scars from the financial crisis that followed the bursting of the U.S. housing bubble, the Fed pressed overnight rates to near zero, where they have been since December 2008. It also more than tripled its balance sheet to $3.4 trillion through a series of bond purchases.

The next chairman of the central bank will likely face the task of unwinding that monetary largesse.

In a Reuters poll of economists earlier this month, the vast majority said Obama was likely to tap Yellen to take over.

Yellen, who has served as Fed vice chair since October 2010, is considered a forceful advocate of aggressive action to lift unemployment. If nominated and confirmed by the Senate, she would be the first woman to lead the central bank.

(Reporting by Steve Holland; Writing by Douwe Miedema and Tim Ahmann; Editing by Lisa Shumaker)

SEE ALSO: A Woman You've Never Heard Of Is About To Become The Most Powerful In The World


View the original article here

Get The Latest Wall Street News In Your Inbox Before Breakfast

Subscribe To Clusterstock Select - Business InsiderFeaturedTrendingRecentBusiness Insider Login Remember me I forgot username or password Login with Twitter Login with Facebook Login with LinkedIn Login with Google Register EventsBI IntelligenceTechFinancePoliticsStrategyLifeEntertainmentAll Tech Enterprise Science How A Great Google Workplace Turned Into A 'Nightmare' The Way 18-29 Year Olds Use Their Phones Is Totally Different Than The... Explanations To 15 Jokes Only Smart People Can Understand The Books That Inspired Tech's Most Influential People The 7 Biggest Myths Debunked By Tech Companies To Serve Their Own Needs The Super Secret Startup That's Going To Save Cisco Just Had Its Coming... Larry Ellison Just Won Big By Signing A Nine-Year Deal With Salesforce These 9 Tech Companies Used Statistical Gymnastics To Make Eye-Popping... Beautiful Maps Show All Of The Rivers In The Lower 48 States Our Planet Is Exploding With Ocean Dead Zones This Plant Kills And 'Eats' Sheep Gorgeous Pictures Of Supermoon 2013 Finance Markets Your Money Upper East Side Dad Explains The Brutal Market Facing Divorced Ladies... 'The Daily Show' Found The Most Offensive And Crude 'Hedge Fund Manager'... BUSTED: Bankers Caught On Tape, Joking About Bailout, And How They'd... The American CEO Held Hostage By His Employees In China Has Been Freed 10 Things You Need To Know Before The Opening Bell Gold Is Falling Again Here Comes Personal Income And Spending... Things Are So Crazy, Bond God Jeff Gundlach Scheduled A Surprise... DEAR GAY COUPLES: Here Are The 22 Big Ways Your Life Is About To Change 14 Services For The Super Rich You Never Knew Existed The Right Time To Buy A New Car Is Never These Are The Coolest New Cars You Can Buy For Under $18,000 Politics Military & Defense Law & Order Antonin Scalia's Gay Marriage Dissent Is Dripping With Contempt And... DEAR GAY COUPLES: Here Are The 22 Big Ways Your Life Is About To Change It's Becoming Clear How Hard Hong Kong Just Slapped The US In The Face Texas Governor Calls Special Session To Pass Filibustered Abortion Bill World Drug Report Reveals The Staggering Extent Of North America's Meth... 10 Guns That Have Shaped The Course Of American History GLENN GREENWALD: Snowden Has Stashed Secret NSA Files With People All... The Ongoing Failure Of The US War On Drugs In One Map George Zimmerman's Lawyer Tried To Destroy The Credibility Of The... Supreme Court Strikes Down A Key Provision Of Law Meant To Protect... Appeals Court Okays $675,000 Fine For Guy Who Illegally Downloaded 30... Supreme Court Strikes Down Federal Anti-Gay Marriage Law Strategy Careers Advertising Retail Small Business America Is Raising A Generation Of Kids Who Can't Think Or Write Clearly 12 Brands That Could Have Avoided Being Embarrassed All Over The Internet How Technology Actually Saved A Paper-Based Small Business Managing Expenses While You're On The Road Is Much Easier Than You Think 7 Brutally Honest Job Rejection Letters Every Student And Parent Should See These Charts On Earnings By Major What This Data Company Knows About You From Tracking Sensors IT Services Company Takes 'Moneyball' Hiring To The Next Level These Major Brands Actively Support Gay Marriage The Best Ads In The World This Shocking Shark Week Ad Doesn't End Well For Snuffy The Seal iTunes' Four Word Description Of The 'Mad Men' Finale Is Pretty Ridiculous 51 Alternative Uses For Coca-Cola This Map Shows The Most Famous Brand From Every State Paula Deen Fans Are Losing It On Walmart's Facebook Page And It's Just... Fired Men's Wearhouse Founder George Zimmer Rips On Board In Open Letter The Books That Inspired Tech's Most Influential People 12 Common Mistakes Startups Make In Their First Year Americans Work Less, Sleep And Watch TV More Than Before The Recession How Technology Actually Saved A Paper-Based Small Business Life Transportation 20 Cool Things About Mobile, Alabama That I Didn't Know Before Last Week 40 Meals You Should Eat In Your Lifetime 14 Services For The Super Rich You Never Knew Existed I Finally Checked Out That 'High Line' Thing That New Yorkers Are Going... Unbelievable Photos Of The French Army's Monstrous New Warplane You Can't Cut The Line For A G650, The $65 Million Private Jet... I Found Out Just How Tough It Is To Land A Private Jet 27 Awesome Moments From The 2013 Paris Air Show Entertainment Sports Kim Kardashian Sent Out Fake Baby Photos To See Which Friends Would Sell... Snooki Has Lost So Much Weight She's Nearly Unrecognizable The Most Scandalous Moments Of Paula Deen's Career Jimmy Kimmel Re-Enacts How He Got A Black Eye, Using A Male Model To... Here Are All 27 NFL Players Who Have Been Arrested Since The Super Bowl Prosecutors Say Aaron Hernandez Made Some Incredibly Boneheaded Moves In... Wimbledon Ball Girl Leaves Court In Tears After Getting Hit In The Arm... NFL Player Aaron Hernandez Charged With Murder Sections A-ZLatestAdvertisingCareersEnterpriseEntertainmentFinanceMarketsLaw & OrderLifeMilitary & DefensePoliticsRetailScienceSmall BusinessSportsStrategyTechTransportationYour MoneyYour NewsListsSilicon Alley 100Digital 100Silicon Valley 100Clusterstock 50The Most Important ChartsThe Life 50More »Sponsored Sections10 Things To Know In Small Business Best New Small Businesses in AtlantaComing Up NextThe Future of BusinessInspired to StriveMonday Scouting ReportSmall Business, Big IdeasVideo RevolutionToolsHiveJob ListingsDocument CenterAccount PreferencesRegisterVideoMobileFull ArchivesAbout BIAboutJobs at BIMastheadContactAdvertiseContributers FAQLegal Fine PrintFollow BINewslettersAlertsRSSTwitterFacebookLinkedInGoogle+CompaniesAuthorsCategories From To You have successfully emailed the post. Finance More: The Business Insider Clusterstock Select Get The Latest Wall Street News In Your Inbox Before Breakfast Business Insider Jun. 26, 2013, 3:00 PM 729 Tweet!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");EmailShare on Tumblr

Clusterstock SelectClusterstock Select is an easy-to-read daily email newsletter that rounds up top headlines, analysis, and video covering Wall Street and the financial services industry.

Signing up is quick and easy.  Use the form below to enter your information then click the "Sign Up" button.

Follow Clusterstock Select and never miss an update! Get updates in your Facebooknews feed.

Get updates in your inbox.

  Industry Accounting Airlines/Aviation Alternative Dispute Resolution Alternative Medicine Animation Apparel & Fashion Architecture & Planning Arts and Crafts Automotive Aviation & Aerospace Banking Biotechnology Broadcast Media Building Materials Business Supplies and Equipment Capital Markets Chemicals Civic & Social Organization Civil Engineering Commercial Real Estate Computer & Network Security Computer Games Computer Hardware Computer Networking Computer Software Construction Consumer Electronics Consumer Goods Consumer Services Cosmetics Dairy Defense & Space Design Education Management E-Learning Electrical/Electronic Manufacturing Entertainment Environmental Services Events Services Executive Office Facilities Services Farming Financial Services Fine Art Fishery Food & Beverages Food Production Fund-Raising Furniture Gambling & Casinos Glass, Ceramics & Concrete Government Administration Government Relations Graphic Design Health, Wellness and Fitness Higher Education Hospital & Health Care Hospitality Human Resources Import and Export Individual & Family Services Industrial Automation Information Services Information Technology and Services Insurance International Affairs International Trade and Development Internet Investment Banking Investment Management Judiciary Law Enforcement Law Practice Legal Services Legislative Office Leisure, Travel & Tourism Libraries Logistics and Supply Chain Luxury Goods & Jewelry Machinery Management Consulting Maritime Marketing and Advertising Market Research Mechanical or Industrial Engineering Media Production Medical Devices Medical Practice Mental Health Care Military Mining & Metals Motion Pictures and Film Museums and Institutions Music Nanotechnology Newspapers Nonprofit Organization Management Oil & Energy Online Media Outsourcing/Offshoring Package/Freight Delivery Packaging and Containers Paper & Forest Products Performing Arts Pharmaceuticals Philanthropy Photography Plastics Political Organization Primary/Secondary Education Printing Professional Training & Coaching Program Development Public Policy Public Relations and Communications Public Safety Publishing Railroad Manufacture Ranching Real Estate Recreational Facilities and Services Religious Institutions Renewables & Environment Research Restaurants Retail Security and Investigations Semiconductors Shipbuilding Sporting Goods Sports Staffing and Recruiting Supermarkets Telecommunications Textiles Think Tanks Tobacco Translation and Localization Transportation/Trucking/Railroad Utilities Venture Capital & Private Equity Veterinary Warehousing Wholesale Wine and Spirits Wireless Writing and Editing Privacy Policy Please Note: Business Insider will never share your information with any other companies. You also have the ability to unsubscribe from these newsletters at any time simply by following the unsubscribe link located at the bottom of each email

To embed this post, copy the code below and paste into your website or blog.600px wide (preview)400px wide (preview) 300px wide (preview) Alerts Newsletter URL Recommended For You What To Expect From Apple The Rest Of The Year   What To Expect From Apple The Rest Of The Year   More: The Business Insider Clusterstock Select Get Alerts for these topics »

Business Insider $('.icon-tooltip').tooltip(); North West: Kim Kardashian And Kanye West Reveal Baby Name Advertisement: Get The Latest Wall Street News In Your Inbox Before Breakfast Get The Latest Wall Street News In Your Inbox Before Breakfast

Get in-depth coverage of Wall Street and the financial services industry delivered straight to your inbox.

AdvertisementGet Finance Emails & AlertsLearn More »IndustryAccountingAirlines/AviationAlternative Dispute ResolutionAlternative MedicineAnimationApparel & FashionArchitecture & PlanningArts and CraftsAutomotiveAviation & AerospaceBankingBiotechnologyBroadcast MediaBuilding MaterialsBusiness Supplies and EquipmentCapital MarketsChemicalsCivic & Social OrganizationCivil EngineeringCommercial Real EstateComputer & Network SecurityComputer GamesComputer HardwareComputer NetworkingComputer SoftwareConstructionConsumer ElectronicsConsumer GoodsConsumer ServicesCosmeticsDairyDefense & SpaceDesignEducation ManagementE-LearningElectrical/Electronic ManufacturingEntertainmentEnvironmental ServicesEvents ServicesExecutive OfficeFacilities ServicesFarmingFinancial ServicesFine ArtFisheryFood & BeveragesFood ProductionFund-RaisingFurnitureGambling & CasinosGlass, Ceramics & ConcreteGovernment AdministrationGovernment RelationsGraphic DesignHealth, Wellness and FitnessHigher EducationHospital & Health CareHospitalityHuman ResourcesImport and ExportIndividual & Family ServicesIndustrial AutomationInformation ServicesInformation Technology and ServicesInsuranceInternational AffairsInternational Trade and DevelopmentInternetInvestment BankingInvestment ManagementJudiciaryLaw EnforcementLaw PracticeLegal ServicesLegislative OfficeLeisure, Travel & TourismLibrariesLogistics and Supply ChainLuxury Goods & JewelryMachineryManagement ConsultingMaritimeMarketing and AdvertisingMarket ResearchMechanical or Industrial EngineeringMedia ProductionMedical DevicesMedical PracticeMental Health CareMilitaryMining & MetalsMotion Pictures and FilmMuseums and InstitutionsMusicNanotechnologyNewspapersNonprofit Organization ManagementOil & EnergyOnline MediaOutsourcing/OffshoringPackage/Freight DeliveryPackaging and ContainersPaper & Forest ProductsPerforming ArtsPharmaceuticalsPhilanthropyPhotographyPlasticsPolitical OrganizationPrimary/Secondary EducationPrintingProfessional Training & CoachingProgram DevelopmentPublic PolicyPublic Relations and CommunicationsPublic SafetyPublishingRailroad ManufactureRanchingReal EstateRecreational Facilities and ServicesReligious InstitutionsRenewables & EnvironmentResearchRestaurantsRetailSecurity and InvestigationsSemiconductorsShipbuildingSporting GoodsSportsStaffing and RecruitingSupermarketsTelecommunicationsTextilesThink TanksTobaccoTranslation and LocalizationTransportation/Trucking/RailroadUtilitiesVenture Capital & Private EquityVeterinaryWarehousingWholesaleWine and SpiritsWirelessWriting and EditingBusiness Insider SelectClusterstock SelectMoreFeaturedBusiness Insider SelectTechnologySAI SelectMobile InsightsScience SelectAdvertising SelectAdvertising: The BriefSocial Media InsightsFinanceFinancial Advisor InsightsClusterstock SelectMoney Game SelectYour Money SelectSmart InvestorMonday Scouting ReportLifestyleThe Wire SelectThe Life SelectSports Page SelectGetting There SelectManagementRetail SelectBreaking NewsWar Room SelectEnterprise SelectCareers SelectInstant MBAMarketing MondaysPolitics and MilitaryPolitics SelectMilitary SelectLaw & Order SelectTop 10 Things & ListsLists Select10 Things In Tech You Need To Know10 Things Before the Opening BellClosing BellCharts of the DaySAI Chart Of The DayMoney Game Chart Of The DaySports Page Chart Of The DayYour Money NASDAQ Composite 3,376 +28.33 (+0.846%) S&P 500 1,603 +15.23 (+0.959%) NYSE Composite 9,067 +0 (+0%) LinkedIn Login Hot: LinkedIn In your network

Why Local-Mobile Marketing Is Exploding

This Map Shows The Most Famous Brand From Every State

How A Great Google Workplace Turned Into A 'Nightmare'

Login with LinkedIn to see what your friends are reading on Business Insider.
Login with LinkedIn

No articles have recently been shared in your network.

More »

Welcome, !You are logged into FacebookSocial: Your Activity|These articles have been shared on your timeline. You can remove them here:OptionsNotify me when a story is shared.YesNo Welcome, ! You are logged in with Google Social: Your Activity| These articles have been added to your Google activity log. You can remove them here: Options Notify me when a story is shared. Yes No The Future Of Mobilephone woman bar mystery question sad

Here Are The Major Players In Mobile Advertising Inside The Rise Of Responsive Design And Its Pros And Cons As A Mobile StrategyWhy Local-Mobile Marketing Is ExplodingTrendingBusiness Insider To The TestIntern trying a lollipop

How People Reacted When They Learned They Were Eating Breast Milk LollipopsWe Recreated The Pepsi Challenge To See What People Really LikeWatch What Happened When The Writers At Business Insider Tried On Google Glass For The First TimeAdvertisementIn partnership with BetterJobsFind A JobTech JobsMedia JobsFinance JobsC-Level JobsDesign JobsSales JobsSee All JobsThanks to our partnersCatchpoint - Web Performance MonitoringOoyala * Copyright © 2013 Business Insider, Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Disclaimer Commerce Policy Powered by MongoDB Stock quotes by YCharts Ad Serving by 24/7 Open AdStream Made in NYC

View the original article here