U.S. stocks and Treasuries rose, as improving economic data offset concerns that the Federal Reserve will cut monetary stimulus as soon as next month. The euro strengthened after German business confidence climbed to the highest in more than 1 1/2 years.
Four Senate Republicans say they’re inclined to support Janet Yellen to be chairman of the U.S. Federal Reserve, leaving her nomination one vote shy of the 60 she needs to be confirmed by the full Senate.
Rules under consideration by federal regulators could require clearinghouses to back up Treasuries pledged as collateral in the $693 trillion over-the-counter derivatives market with credit lines, according to industry executives.
Federal Reserve policy makers have publicly debated whether to maintain their bond-buying pace since well before Janet Yellen was named last month to succeed Chairman Ben S. Bernanke. One voice has been missing: Yellen’s.
Federal Reserve Bank of Philadelphia President Charles Plosser, an opponent of Fed bond purchases, said the central bank should focus on price stability as its primary objective, and not worry as much about “fluctuations” in employment.