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As the U.S. Senate works to rewrite immigration policy, the House of Representatives is spending floor time on legislation that won’t become law, voting today to repeal President Barack Obama’s 2010 health-care law.
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Treasuries rose, with 10-year note yields headed for their biggest two-day decline since mid-April, as government and Federal Reserve reports pointed to a weakening economy and slower inflation.
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Real estate topped the list of sovereign wealth funds’ investments last year, overtaking commodities and financial services, according to Institutional Investor’s Sovereign Wealth Center.
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China retained its lead over Japan as the largest foreign creditor to America in March, U.S. Treasury Department data show.
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Treasuries snapped their longest losing streak in two months on speculation the economy may be slowing after reports showed manufacturing in the New York region shrank this month and producer prices dropped the most in three years in April.
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Australia’s dollar fell to an 11- month low after the premium the nation’s bonds offer over U.S. debt shrank to the least in a year, sapping the allure of the currency as a higher-yielding asset.
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Treasury 10-year note yields reached two-month highs as speculation the Federal Reserve may consider tapering its record bond-purchase program crimped demand for the securities as equities indexes traded at record levels.
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Wall Street’s biggest bond dealers are starting to forecast that the U.S. Treasury will reduce the size of its debt auctions in coming months for the first time in three years as government revenue soars.
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Treasuries fell, with 10-year note yields climbing to the highest level in six weeks, as signs the U.S. economy is improving amid central-bank monetary stimulus sapped demand for U.S. debt.
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U.S. Treasury Secretary Jacob J. Lew said a one-time payment from Fannie Mae confirms that the nation’s debt ceiling won’t be reached until September.