Treasury yields jumped to the highest level since 2011 amid swelling speculation the Federal Reserve will trim its bond purchases next month. Emerging markets led losses in stocks and industrial metals slid, while U.S. shares were poised for their first four-day slump of 2013.
Employers fired the fewest workers last week since before the recession began almost six years ago, raising expectations that bigger job gains will soon give U.S. consumers the ability to boost spending.
Sydney native Greg Gibbs bought his first Breckenridge, Colorado ski condo in 2011 and a second this January, predicting the end of a record period of strength for Australia’s dollar. The Royal Bank of Scotland Group Plc strategist could hardly have timed it better.
Stocks declined amid corporate earnings that disappointed investors and growing concern the Federal Reserve may reduce its bond purchases, while oil capped the biggest four-day slide in nine months. The pound gained after the Bank of England raised its growth forecast.
G. Robert Blakey, the law professor who helped draft the U.S. wiretap statute, may submit a brief supporting imprisoned hedge fund manager Raj Rajaratnam’s effort to overturn his conviction for insider trading, a U.S. appeals court ruled.
Zillow Inc., operator of the largest real-estate information website, dropped the most in three months after reporting a second-quarter loss on higher costs related to advertising and acquisition-related compensation.
Pacific Investment Management Co., BlackRock Inc. and Bank of New York Mellon Corp. are seeking a court order blocking Richmond, California, and Mortgage Resolution Partners LLC from seizing mortgages through eminent domain, saying the initiative would hurt savers and retirees.