Calendar of Events to watch coming up;- Basel capital rules -Conferences -Treasury auctions-S&P: U.S. bank regulations teleconference Aug 1

Calendar of Events to watch coming up

·         JPMorgan Auto Conf – Aug 9-10 – Detroit. 

·         S&P: U.S. bank regulations teleconference Aug 10; 11amET The call will feature an overview of the second quarter's operating performance for U.S. banks as well as a discussion of the recently signed financial reform legislation and its potential impact on ratings. 

·         Credit Card master trust numbers get published on Mon Aug 16 

·         Treasury auctions – selling $34bn 3s on Tues, $24bn 10s on Wed, and $16bn 30s on Thurs  

·         INTC, Infineon – Reuters says talks between the companies are at an “advanced stage” (talks concern a deal whereby INTC would buy Infineon’s wireless business). 

·         Bush tax cuts – Sen Reid planning a Senate showdown over the Bush tax cuts for this Sept; there had been an expectation that Reid would hold off on debating the issue until after the mid-terms, but it now looks like Sept is the date -  The Hill.com  http://thehill.com/homenews/senate/112641-reid-plans-september-showdown-on-bush-tax-cuts  

·         Basel capital rules – Dodd and Frank are planning to hold hearings on the status of the global Basel talks; “I am concerned the recent proposals out of Basel will result in weak and perhaps even nonbinding provisions that provide credit to banks for holding forms of capital that have little or no value in absorbing losses,” said Senator Ted Kaufman, Democrat of Delaware  Bloomberg 

·         Conferences – from DJ - Pacific Crest Securities Technology Leadership Forum from Sunday through Tuesday in Vail, Colo.; J.P. Morgan Auto Conference on Monday and Tuesday in Detroit; Needham & Co. Clean Technology Conference on Monday in New York; Canaccord Adams Global Growth Conference from Tuesday through Thursday in Boston; Jefferies & Co. Global Industrial and A&D Conference from Tuesday through Thursday in New York; Oppenheimer & Co. Telecommunication, Media & Technology Conference on Tuesday and Wednesday in Boston; Morgan Keegan Technology Conference on Wednesday and Thursday in New York; and Bank of America Merrill Lynch Specialty Pharmaceuticals Conference on Thursday and Friday in Southampton, N.Y.