Gfma : News on the global financial markets

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Yields on Italian and Spanish bonds edge up
The Wall Street Journal (21 Dec.)

Goldman Sachs and South Korean insurer will arbitrate MBS dispute
Reuters (21 Dec.)

Regulatory Roundup

Financial-transaction tax could miss target, Dutch warn
The Dutch Finance Ministry cautioned that the European Commission's proposal to tax financial transactions likely would not correct market issues and would have negative unintended consequences. Meanwhile, UK Chancellor George Osborne reiterated his opposition to the tax and rejected EU claims that it would raise €57 billion annually. Financial News Online (U.K.)(subscription required)(22 Dec.), Financial News Online (U.K.)(subscription required)(21 Dec.)

Some BoE policymakers sought further expansion of QE
Minutes from the Bank of England's most recent Monetary Policy Committee meeting show that some members were keen to expand quantitative easing. "Some members continued to note that the balance of risks to inflation in the November Inflation Report projections meant that a further expansion of the asset purchases programme might well become warranted in due course," according to the minutes. The Guardian (London)(21 Dec.), Bloomberg(21 Dec.), Reuters(21 Dec.)

Deutsche Boerse-NYSE concessions don't appear to sway EU
Deutsche Boerse and NYSE Euronext made fresh concessions to appease European Commission antitrust authorities reviewing their proposed merger, but those efforts appear to be failing, sources said. The exchanges are expected to refocus their efforts on Competition Commissioner Joaquin Almunia or the college of 27 commissioners. Reuters(22 Dec.)