President Barack Obama will emphasize Democratic priorities in his next budget, dropping an offer to trim the growth of entitlement spending and proposing new tax limits for U.S.-based multi-national companies.
The government’s auction of $9 billion of 30-year Treasury Inflation Protected Securities will draw a yield of 1.463 percent, according to the average forecast of seven of the Federal Reserve’s 22 primary dealers in a Bloomberg News survey.
Standard & Poor’s shouldn’t get to see communications among White House officials including President Barack Obama to try to back its claim that the U.S. sued the company to retaliate over a government debt downgrade, the Justice Department said.
Treasuries fell, pushing 10-year note yields to a two-week high, as the U.S. sold $24 billion of the securities a day after Federal Reserve Chairman Janet Yellen said the central bank remains on course to taper bond purchases.
The new U.S. debt ceiling is $17.2 trillion, the Treasury Department said in a report today as members of Congress prepared to vote on a measure to suspend the restriction on the nation’s borrowing capacity.