UPDATE 1-Fed banks wanted flat discount rate in May, June

(Reuters) - But the Fed regional bank directors were concerned about a
potential threat from a slumping housing market, according to
minutes of meetings of the Washington-based Fed Board of
Governors, which must approve changes in the discount rate
governing Fed lending to commercial banks.




"Directors considered it likely that business investment
would begin to strengthen soon, buoying overall economic
growth, but they noted that activity in the housing market was
continuing to contract and cautioned that the housing sector
posed a downside risk to economic performance," according to
minutes from a June 25 meeting.


Read more at Reuters.com Bonds News

Nasdaq to buy board technology firm, no terms

(Reuters) - Directors Desk is the newest company to join Nasdaq's clutch of companies offering non-trading services, as the exchange fights to keep clients and increase revenue.




Competition among exchanges has turned fierce, and Nasdaq competes for trading volume with alternative trading venues like BATS Trading and for company listings with the New York Stock Exchange, owned by NYSE Euronext .


Read more at Reuters.com Mergers News