Congressional negotiators are touting a U.S. budget accord that will ease the long-criticized automatic spending cuts for the next two years, remove the risk of a government shutdown and cut the deficit by $23 billion.
Business Roundtable lobbyists wanted 2013 to be the year lawmakers, free of immediate election pressures, would revamp U.S. immigration policy, pass a debt- lowering budget and expedite a pair of trade deals.
Honed by 15 years of falling consumer prices that burnished the appeal of fixed-income assets in Japan, the Asian nation’s bond buyers are amassing long-term Treasuries as disinflation emerges in the U.S.
McGraw Hill Financial Inc.’s Standard & Poor’s unit said the U.S. government has broadened the securities covered in its fraud lawsuit against the ratings company so that the case would be unmanageable at trial.
Vice President Joseph Biden arrives in Japan today on a trip to demonstrate the American commitment to the Asia-Pacific and defuse tensions over a Chinese air defense zone that drew criticism from the U.S. and its allies.
Treasury 10-year note yields traded at almost a two-month high on speculation a U.S. jobs report next week will be strong enough to lead the Federal Reserve to vote to trim bond purchases as soon as December.