Treasuries declined after a measure of consumer confidence in May reached an almost six-year high and an index of leading economic indicators topped forecasts, as Federal Reserve officials debate the pace of asset purchases.
The euro is under pressure as sovereign-wealth funds and central banks move reserves back into dollars or diversify into other currencies, Samarjit Shankar, a Boston-based managing director for the foreign-exchange group at Bank of New York Mellon Corp., said at a round-table with reporters in Tokyo.
Bank of New York Mellon Corp., the world’s biggest custody bank, is appealing a ruling allowing Chesapeake Energy Corp. to proceed today with redeeming $1.3 billion in bonds six years early at 100 cents on the dollar.
The yen slid to 100 per dollar for the first time in four years, extending losses triggered by the Bank of Japan’s deflation-fighting efforts. U.S. 30-year bonds erased gains while U.S. benchmark stock indexes fell from records.
Chesapeake Energy Corp. won a bid to carry out an early call of $1.3 billion in bonds at par after a judge rejected arguments by the notes’ trustee, Bank of New York Mellon Corp., and investors including River Birch Capital LLC.
Chesapeake Energy Corp. won a bid to save $100 million in interest payments by carrying out an early call of $1.3 billion in bonds at par after a judge ruled against the notes’ trustee, Bank of New York Mellon Corp.