ADVISORY/Experts Available To Comment On Unexpected Treasury Sale.Business Editors ADVISORY... --(BUSINESS WIRE)--Oct. 5, 2001 TOPIC: The federal government conducted a snap sale of Treasury notes yesterday in an unusual attempt to stabilize financial markets. A story in the New York Times reports that the government decided on the sale after an "unusually large" amount of trades did not settle in the past two weeks. Experts in the story say unsettled trades threaten the stability to big institutional leaders in the securities market and could have a ripple effect on all financial markets. According to experts in the story, the large number of unsettled trades (called fails) seemed to come from a shortage of the actively traded 2-year, 5- year and 10-year Treasury notes, and yesterday's auction of $6 billion in 10-year notes should help to relieve that shortage. EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story: Prof. Michael Darby is Warren C. Cordner professor of Money and Financial Markets at UCLA's Anderson Graduate School of Management. A recognized authority in macroeconomics macroeconomics Study of the entire economy in terms of the total amount of goods and services produced, total income earned, level of employment of productive resources, and general behaviour of prices. and international finance, Darby served from 1986 to 1992 in a number of senior positions in the Reagan and Bush administrations, including assistant secretary of the treasury for economic policy, member of the National Commission on Superconductivity superconductivity, abnormally high electrical conductivity of certain substances. The phenomenon was discovered in 1911 by Kamerlingh Onnes, who found that the resistance of mercury dropped suddenly to zero at a temperature of about 4.2°K;. , under secretary of commerce for economic affairs The Under Secretary for Economic Affairs is the principal economic adviser to the United States Secretary of Commerce and the Administrator of the Economics and Statistics Administration. , and administrator of the Economics and Statistics Administration The Economics and Statistics Administration (ESA) is an agency in the United States Department of Commerce that produces, analyzes and disseminates national economic and demographic data. . During his appointment, he received the Treasury's highest honor, the Alexander Hamilton Award. PR: Lauren Bartlett (Senior Media Relations Representative, UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX ) lbartlett@support.ucla.edu Mr. James Midanek is Fixed-income chief investment officer for Turner Investment Partners. His area of expertise includes the bond market. 925/988-7112; jim@turner-invest.com or PR: Bruce Zewe brz@turner-invest.com Dr. Clark Maxam is a finance professor at Colorado State University Colorado State University, at Fort Collins; land-grant with state and federal support; chartered 1870, opened 1879 as an agricultural college, assumed present name in 1957. There is a veterinary teaching hospital, an agricultural campus, and a research campus. and also works for Trailcrest Capital Advisors. As a former fixed income derivatives trader and market maker and a current fixed income portfolio manager and researcher, he is uniquely qualified to address issues of money management, investments, and securities market operation/execution. As a member of the Chicago Board of Trade Chicago Board of Trade (CBOT) The second largest futures exchange in the US, and a pioneer in the development of financial futures and options. and Chicago Mercantile Exchange Chicago Mercantile Exchange (CME) Chicago Mercantile Exchange (CME) is the largest futures exchange in the United States and the second largest exchange in the world for the trading of futures and options on futures. , he frequently advised institutional clients in interest rate risk management including the use of futures, options and other derivative products and market trade execution strategies. 406/994-4692 Janis McDonough co-manages a multi-billion dollar financial institutions bond portfolio for the Hancock Bond and Corporate Finance Group. Ms. McDonough lends approximately $750 million to $1 billion annually in structured product investments (including CBOs and CLOs), sovereign investments, and investments in domestic and international commercial banks, investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. , and insurance and finance companies. These investments are made through both the public and private markets. She also is responsible for providing sovereign economic and political analysis for Mexico and countries in Asia where the Bond Group is examining investment opportunities. The Bond Group typically invests in undervalued securities and seeks to limit option or interest rate risk. Its investment officers perform extensive credit analysis of issuer fundamentals as well as extensive competitive analysis. Ms. McDonough joined Hancock in 1973 and moved to the Bond and Corporate Finance Group in 1984. She graduated from Emmanuel College There is more than one Emmanuel College:
Prof. Paul Harrison
ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue. ExpertSource, a collaboration of Business Wire and The Round Table Group, provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/expertsource. Business Wire's Media Resource Center provides working journalists many free media services. Please visit the BW Media Resource Center at (www.businesswire.com/media) for more information. |
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