Gramercy Capital to sell stake in JV to SL Green

(Reuters) - Separately, Gramercy said it has agreed to modify its $900
million secured repurchase facility with Wachovia Securities
LLC and Goldman Sachs Mortgage Co.





Read more at Reuters.com Mergers News

Year-over-year core PCE index up 1.9 pct in May

(Reuters) - This latest reading should provide some comfort to Federal Reserve policy-makers who on Thursday opted to hold interest rates steady but still cautioned that inflation was a key concern.




"It's a dip into their comfort zone and if it's sustainable going forward, I think it suggests that the Fed is not in a position to raise rates any time this year," said John Silvia, chief economist at Wachovia Securities in Charlotte, North Carolina.


Read more at Reuters.com Economic News

US RATE FUTURES-Fretting over GDP inflation component

(Reuters) - CHICAGO, June 28 - U.S. short-term interest rate
futures extended losses slightly on Thursday as dealers focused
on upwardly revised inflation readings in the final
first-quarter GDP report.




"The higher inflation is what folks are focusing on. It's a
little disconcerting," said Mark Vitner, economist at Wachovia
Securities in Charlotte, North Carolina.


Read more at Reuters.com Bonds News