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Quinn delays $500 million borrowing in wake of state's bad credit rating

January 30, 2013
Chicago Tribune

Gov. Pat Quinn's administration delayed Wednesday's planned sale of $500 million in construction bonds, saying a recent credit downgrade because of inaction on government worker pension reform left the market "unsettled." While it's not unheard of for states to delay a bond sale, it is unusual, said Brian Battle, director of Chicago-based Performance Trust Capital Partners. "I think it certainly is a seminal event in Illinois history," Battle said. "Because of our credit rating, we could not sell bonds today. We could have, but we would have gotten hurt, and that's unusual. Now the citizens can see what the cost is for all this dithering in Springfield."

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Illinois Yanks Bond Amid Pension Woes

January 30, 2013
The Wall Street Journal

Illinois took the rare step Wednesday of postponing a bond auction just hours before it was expected to launch, as concerns grew among investors over the state's deep pension hole. "It's the first real market indication that, because of our fiscal condition, we couldn't sell bonds," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago, referring to his home state. His firm had no role in the Illinois bond sale.

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OmniAmerican Heads Class of Ex-Mutuals Ripe for Takeover

January 23, 2013
American Banker

Monday marked three years since the $1.3 billion-asset OmniAmerican (OABC) in Fort Worth, Texas, converted from a mutual savings bank to a stock corporation. Regulations bar converted mutuals from selling themselves during their first three years, and speculation usually heats up as they approach that milestone. "I do know that they don't have the earnings that they should have," says Daniel Bass, a managing director at Performance Trust Capital Partners. "I would assume they are getting talked to, [and] they have such a good footprint in Fort Worth from a buyer's perspective."

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Earnings season gives Street something to go on

January 11, 2013
MarketWatch.com

Brian Battle of Performance Trust Capital Partners is relieved to see the start of earnings season. He tells MarketWatch Radio's Joan Doniger that investors welcome the opportunity to look at solid numbers rather than political drama.

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Set that bar really low for earnings season

January 7, 2013
MarketWatch.com

Investors should have very low expectations for the earnings season. So says Brian Battle, director of trading at Performance Trust Capital Partners. He talks to Larry Kofsky about what to expect this season and Investors should have very low expectations for the earnings season. So says Brian Battle, director of trading at Performance Trust Capital Partners. He talks to Larry Kofsky about what to expect this season and how to prep for the debt ceiling debate in Washington.

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ASEAN Market Preview EAst West, Medco, Petronas, PTTEP, Keppel

January 3, 2013 
LiveTradingNews.com

On New Year’s Day, while the U.S. stock market was closed, Congress passed a bill to raise taxes on wealthy individuals and families, and preserve certain benefits, while avoiding immediate austerity measures. The combination of mandatory tax hikes and reduced federal spending, which had been set to go into effect on Jan. 1, had been known as the “fiscal cliff.” ” We had three choices: We were going to be off the cliff, we were going to be on the cliff, or we were going to avoid the cliff, and we avoided it,” said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago. “There’s a relief rally, some progress because we raised revenue, but I think it’s going to be short-lived because the relief rally today was created by politics, and the next cliff is going to be created by politics.”

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Shares surge with relief after deal ends US cliffhanger

January 2, 2013
The Independent

Congress approved an agreement on Tuesday night to prevent the bulk of the tax hikes and temporarily delay spending cuts set to come into force this month, sending shares higher when traders in London and New York returned to their desks today. "We had three choices: We were going to be off the cliff, we were going to be on the cliff, or we were going to avoid the cliff, and we avoided it," Brian Battle, the director of trading at Performance Trust Capital Partners in Chicago, said. But he warned about the looming challenges, as the debate now shifts to raising the debt ceiling in two months. "I think it's going to be shortlived, because the relief rally today was created by politics, and the next cliff is going to be created by politics."

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Wall Street starts 2013 with a rally on "cliff" agreement

January 2, 2013
Fox Business News

Congress passed a bill to raise taxes on wealthy individuals and families, and preserve certain benefits, while averting immediate austerity measures. The combination of mandatory tax hikes and reduced federal spending, which had been set to go into effect on January 1, had been known as the "fiscal cliff." "We had three choices: We were going to be off the cliff, we we're going to be on the cliff, or we were going to avoid the cliff, and we avoided it," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago. "There's a relief rally, some progress because we raised revenue, but I think it's going to be short-lived because the relief rally today was created by politics, and the next cliff is going to be created by politics."

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