Today's Headlines

Bloomberg:
- Bear Stearns(BSC) Agrees to Secured Loan Facility with JPMorgan Chase.
- Emerging-market bond yield premiums over US treasuries swelled to their widest since June 2005.
- Bear Stearns(BSC) Funding Is ‘Unequivocally Positive,’ Peters Says.
- VIX Poised for Highest Close Since 2003.

Wall Street Journal:
- The SEC is likely to tell companies that, though they must use market prices for securities they hold, they may also give broader spreads of possible values.

CNBC:
- JPMorgan Chase(JPM) CEO Dimon would be interest in buying all or part of Bear Stearns(BSC). “Based on conversations that I’ve had with people familiar with the situation, that certainly is one route that could be taken here,” CNBC’s David Faber said. JPMorgan, which worked with the NY Fed to provide emergency financing for Bear Stearns today, is going to be able to “go through a great deal of securities and figure out what the true marks are, and try and understand whether they want to make a bid for all or part of the company,” Faber said.

BusinessWeek:
- Larry Fink: BlackRock’s(BLK) Bear Starts to Feel Bullish.

Reuters:
- Credit crunch hurting global shipyard orders.

Globe and Mail:
- Bank of Canada Governor Mark Carney said slower growth in the US will extend to other economies, lowering demand for commodities and depressing prices.