Zulema notes

“Angels” at 8 p.m, which has been struggling in the ratings since its September 22 premiere, experienced some slight growth in the coveted adults 18-49 demographic, getting an 8 percent boost over last week for a 1.3 rating/4 share, with 5.9 million total viewers.”Grey’s Anatomy” followed at 9 p.m. on ABC, growing 10 percent in the demographic with a 3.4/9 and 9.6 million total viewers. At 10 p.m., “Private Practice” received a 2.4/6 share in the demographic — a 14 percent leap over last week — and 6.7 million total viewers.Predictably, CBS’ reliable ratings winner “The Big Bang Theory” grabbed the night’s top numbers, taking a 4.4/14 in the demographic for its 8 p.m. broadcast, with 13.2 million total viewers. A repeat of the series aired at 8:30 p.m., followed by “Person of Interest,” which received a 2.7/7 in the demo, with an average 11.8 million total viewers. “The Mentalist” closed the evening at 10 p.m., receiving a 2.5/7 in the demographic and 12.2 million total viewers.Fox took the evening’s best overall ratings, thanks to the “The X Factor,” which aired on Thursday rather than Wednesday due to rain delays in MLB’s American League Championship Series. The two-hour episode from 8 to 10 p.m. received a 3.6/10 in the demographic and 10.8 million total viewers.At NBC, “Community” kicked off the evening at 8 with a 13 percent boost in the demographic versus last week, receiving a 1.7./5 and 3.8 million total viewers. “Parks and Recreation” at 8:30 took a 2.1/6 in the demographic, matching a season high for the series, with 4 million total viewers. “The Office” at 9 p.m. drew a 3.2/8 share in the demographic with 5.8 million total viewers, while “Whitney” at 9:30 p.m. took a 13 percent hit in the demographic, slipping to a 2.0/5 and 4.2 million total viewers. The network’s evening closed out another down note, with the already floundering “Prime Suspect” dropping 13 percent to a series low, taking a 1.3/3 in the demographic and 4.5 million total viewers.

Oct 12 (Reuters) - The Harrisburg, Pa., city council passed a resolution on Tuesday night authorizing a Chapter 9 bankruptcy filing, a city official said on Wednesday.The Pennsylvania state capital faces a $300 million debt crises tied to a project to revamp its incinerator and has been plagued with cash flow problems.Mark Schwartz, the council’s attorney in this matter, said on Wednesday that the bankruptcy filing would give the city “bargaining power” with its creditors and with the state, which is considering a takeover plan.”They were tired of being humiliated and denigrated,” he said of the council members who voted for bankruptcy on Tuesday.Chapter 9 is “a much better forum if you really want to address the financial problems of the city,” he added.The bankruptcy court for the middle district of Pennsylvania confirmed on Wednesday they have received a faxed bankruptcy petition from Harrisburg, but that it has not been filed yet.The state legislature is considering a bill that would call for an eventual takeover of the city and the forced implementation of a fiscal rescue plan.In July, the City Council rejected a state-approved rescue plan, which called on it to renegotiate labor deals, cut jobs, and sell or lease its most valuable assets, including the incinerator and parking garages.In August, the council rejected a similar plan that had been crafted by Mayor Linda Thompson, saying that both plans were overly burdensome for Harrisburg residents and did not ask enough of the county, bondholders and the bond insurer, Assured Guaranty.On Wednesday, a spokesman for Thompson said that the council’s actions could accelerate the state approving a takeover of Harrisburg.”(The bankruptcy) is hugely unpopular, but the council…is an independent body,” said mayoral spokesman Robert Philbin.He also said the city’s solicitor had raised questions about the legality of the vote during the meeting on Tuesday. The solicitor, Jason Hess, was not immediately available for comment.However, City Controller Dan Miller said on Wednesday the filing was the right move for Harrisburg.”I think it’s the only real option that we had,” said Miler, adding that the previous plans rejected by city council would have benefited creditors at the expense of the city.”They wanted to sell all of our assets and make Harrisburg destitute for decades to come,” he said.

Robert Marquardt, founder of the fund of hedge funds firm, said managers feel short bets on fixed income have run their course and were now looking at borrowing euros and Swiss francs, where rates look set to remain low, to buy emerging market currencies.”Managers are putting on currency plays because the long interest rate play is played out and a rising interest rate environment tends to support the currency,” he told Reuters in an interview this week.”Short and long-term interest rates both collapsed over the summer. Managers long (of) those bonds did very well. But that trade is finished for now,” he said. “Rates (in many developed economies) are not going to go lower — they are flat, or they will rise.”German 10-year bond yields have dropped below 1.8 percent this week from above 3 percent at end-June, while 10-year Treasury yields have dropped below 2 percent from 3.2 percent, benefiting macro funds betting bond prices would rise as the economic outlook deteriorated.Brevan Howard, one of Europe’s biggest hedge fund managers, for instance, made close to $1.5 billion (949 million pounds) over three weeks in August, the FT reported.Marquardt said hedge funds were now putting on carry trades — where low-yielding currencies are used to buy high-yielding assets — and buying currencies such as the Korean won or Mexican peso and may also target the Brazilian real and Malaysian ringgit, where interest rates are rising or are higher than in Europe.SWISS FRANCThe move comes after the Swiss National Bank last week surprised investors with an exchange rate cap, saying it would no longer tolerate a rate below 1.20 francs per euro and would defend the target.Having strengthened close to parity las month from more than 1.3 francs to the euro in April as risk-averse investors moved to safe havens, the franc fell around 9 percent in a day. Its cap could make it attractive for funds wanting to go short.”Managers and investors in general are tending to buy rising or higher interest rates currencies, and funding that with the low interest rate currencies of the severely indebted, slow-growing developed world,” Marquardt said.Some hedge funds are starting to use the euro, rather than the dollar, in carry trades, he said, adding: “…if it is the euro it may as well be the Swiss franc.”I do know a number of managers who were bearish the Swiss franc due to its extremely overvalued situation, which they saw as unsustainable; they had been waiting for a peak to happen so they could swap to the franc as a funding currency,” Marquardt said.Last week’s move by the Swiss National Bank hit managed futures hedge funds, which try to make money from latching onto market trends, although some managers that had short bets gained.Mike Dever, founder and director of research at U.S.-based Brandywine Asset Management, which manages computer-driven funds with $100 million in assets, saw his fund profit from being short the franc, and said he expected it to weaken further.”The market had built up so much enthusiasm a month ago, you knew it was not going to sustain itself in perpetuity. The market had pretty much shot it at that point, it had received all the enthusiasm it could at that point,” he told Reuters.”We are still net short, just because I think the back has been broken. My expectation is that it will continue to ratchet lower over the next 3-6 months.”