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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (39958)	7/23/2003 12:34:56 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69326

11:02AM High-yield defaults slow so far in 2003: Fitch Ratings (WSPTE) by Rachel Koning CHICAGO (CBS.MW) -- The defaulted high-yield issuer count through June of this year totaled 57, down 47 percent from 108 for the comparable period in 2002 and indicative of attention to balance sheets, credit ratings firm Fitch said Wednesday. Ten high-yield issuers defaulted on their bond obligations in June, led by textile manufacturer WestPoint Stevens (WSPTE). That default was the third in 2003 to top the $1 billion mark. However, in 2002, 12 companies had produced billion-dollar bond defaults by June. 11:01AM Bernanke: Fed should be willing to cut rates to zero by Corbett B. Daly WASHINGTON (CBS.MW) - Federal Reserve Board Chairman Alan Greenspan and the Fed's policymaking committee should stand ready to cut rates to zero if the economy needs an extra jolt. "We should be willing to cut the funds rate to zero, should that prove necessary to provide the required support to the economy," Federal Reserve Board Governor Ben Bernanke said in a speech at the University of California, San Diego. The policymaking committee's point man on deflation said the risk of further declines in inflation from an already low level outweighs the risk of a resurgence in inflation. "Hence, monetary ease appears to be indicated for a considerable period," Bernanke said, adding "keeping the funds rate target at or near its current level for an extended period may be sufficient."