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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: regli who wrote (46182)	2/9/2006 5:57:03 PM
From: shades	Respond to of 116555

=DJ Beijing Seen Rivaling New York, London In Bond Business . By Jed Horowitz Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Sales and trading of bonds, commodities and currencies will grow so rapidly in China in the next few years that Morgan Stanley (MS) expects the size of its trading floors there to rival those in New York and London. "That's where the business is going in the future," said Neal Shear, a former commodities trader who last summer became global head of fixed-income, at a conference Webcast Thursday from Florida. Morgan Stanley last month hired Citigroup Inc. (C) executive Wei Christianson to run its businesses in China. The firm employs thousands of traders, salespeople and analysts in London and New York, the current centers of fixed-income trading. Shear said the opportunities for servicing clients and trading for the firm's own account is also expanding in India, Brazil, Russia, Turkey, the Middle East and other emerging and developing markets. Morgan Stanley also is aggressively building its mortgage servicing and trading business, and would consider making acquisitions. Rivals such as Bear Stearns Cos. (BSC) and Lehman Brothers Holdings Inc. (LEH) have focused heavily on mortgages and now originate residential and commercial real estate loans as well as securitize them. Shear said mortgage opportunities are particularly enticing in Europe and Asia because profit spreads are higher there than in the U.S. Morgan Stanley and Goldman Sachs Group Inc. (GS) remain Wall Street's biggest traders of oil, gas and other products, but Shear warned that the record profits the firm has been booking in the area can't last. "2006 was a near-perfect market for making money in commodities," he said. "We cannot expect this near-perfect environment to continue in perpetuity." Potential risks include a reduction in volatility of energy prices, rising interest rates that could slow consumer spending, unanticipated credit events and a raid on Morgan Stanley's traders from rivals trying to break into the business. To date, he said, his fixed-income division has not suffered major losses of talent in any area. Dozens of top investment bankers and traders left the company last year to protest management changes made by the company's former chief executive, Philip Purcell. By Jed Horowitz, Dow Jones Newswires; 201-938-4047; jed.horowitz@dowjones.com (END) Dow Jones Newswires February 09, 2006 17:29 ET (22:29 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 05 29 PM EST 02-09-06

To: regli who wrote (46182)	2/9/2006 5:59:02 PM
From: shades	Respond to of 116555

DJ Delta Airlines Proposes Service Between Atlanta And Africa The globe grows smaller - flu can travel faster ATLANTA (AP)--Delta Air Lines Inc. (DALR), the nation's third-largest carrier, Thursday announced proposed service from Atlanta to Africa. The company said that if the new routes to Dakar, Senegal, and Johannesburg, South Africa, are approved by the Department of Transportation, Delta would become the only U.S. carrier with scheduled service between the United States and the African continent. World Airways, based in Peachtree City, Ga., offers chartered service to South Africa, Delta spokeswoman Chris Kelly said. The new service would be effective in December 2006 if Delta receives DOT approval. In the past, Delta has marketed service from the U.S. to South Africa through a partnership with South African Airways. The new service would be offered using Delta's own planes. Delta expects the new service to be used by 130,000 passengers a year, said Jim Whitehurst, the airline's chief operating officer. Atlanta-based Delta, which filed for bankruptcy protection in New York on Sept. 14, has been expanding its international service the last several months as part of its turnaround plan. (END) Dow Jones Newswires February 09, 2006 17:23 ET (22:23 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 05 23 PM EST 02-09-06

To: regli who wrote (46182)	2/9/2006 9:44:00 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Meritage Fires Back globaleconomicanalysis.blogspot.com Mish