The Treasury Department’s $35 billion sale of five-year notes may draw a yield of 1.723 percent, according to the average forecast in a Bloomberg News survey of seven of the Federal Reserve’s 22 primary dealers.
The yen rose the most in almost two weeks versus the dollar as sales of new U.S. homes unexpectedly plunged to the lowest level in eight months, damping bets the Federal Reserve will lift interest rates anytime soon.
Pacific Investment Management Co.’s former Chief Executive Officer Mohamed El-Erian described Bill Gross as one of the world’s best investors in his first television interview since leaving the investment firm in March.
Czech Finance Minister Andrej Babis says he wants to manage public finances in the same way he ran his $12 billion business. Bondholders approve, awarding the three-month-old government with the lowest yields since May.