Treasuries rallied, sending 30-year bond yields to a 10-month low, as mixed economic signals bolstered haven demand before a jobs report tomorrow. U.S. stocks were little changed after a three-day rally.
The largest U.S. private-equity funds and venture capital firms have relied on a five-year, multimillion-dollar lobbying campaign to protect the carried interest tax break that helped drive presidential candidate Mitt Romney’s 2010 effective tax rate below 14 percent.
TransCanada Corp.’s proposed $7.6 billion Keystone pipeline system, which would take crude from Alberta’s tar sands down through the Midwest and on to Texas and the Gulf Coast refineries, could be scuttled because of concerns about its potential impact on a major aquifer in Nebraska.
I keep reading that politics right now is all about the economy -- in the U.S., in Europe, in China, in India, wherever. The U.S. presidential election is focused so fiercely on the economy, in fact, that actual policy making has been shut down for months. Apparently it’s not possible to worry about the economy and do something about it at the same time.