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World news

Sydney man charged with being 'economic agent' for North Korea
BBC News - World 17-12-2017 02:19
Chan Han Choi, 59, from Sydney, was arrested and charged with breaching sanctions and weapons laws.
Chile: Landslide destroys village and kills at least five
BBC News - World 17-12-2017 01:05
A search continues for 15 people missing, after five died in a village in the south of the country.
Anita Hill to chair Hollywood harassment commission
BBC News - World 16-12-2017 23:08
The lawyer will head the group after a series of Hollywood sexual abuse and harassment allegations.
Pentagon ran secret multi-million dollar UFO programme
BBC News - World 16-12-2017 21:45
US media reports say documents from the operation describe strange aircraft and hovering objects.
Woolly mammoth skeleton sold for 548,000 euros in France
BBC News - World 16-12-2017 17:32
The ancient skeleton is thought to be the largest of its kind in private hands.
ANC: Zuma pleads for unity as party picks new leader
BBC News - World 16-12-2017 17:16
South Africa's governing party is picking a new head after a bitter leadership battle.

Finance

Pensions: Automatic saving to start at 18 under new plans
BBC News - Business 16-12-2017 23:51
An extra 900,000 young people could automatically save into a workplace pension under the plans.
Hunter Harrison: CSX railway boss dies
BBC News - Business 16-12-2017 22:05
The US transportation company's shares fell sharply on Friday after CEO's medical leave was announced.
US tax bill: Republicans agree sweeping changes
BBC News - Business 16-12-2017 00:06
Senate and House lawmakers reveal final details of the biggest change to the US tax code in 30 years.
Cash controversy: The High Streets with too many ATMs
BBC News - Business 15-12-2017 21:59
The cash machine industry and the network are at loggerheads over closure plans.
Sky News faces uncertain future after Disney-Fox deal
BBC News - Business 15-12-2017 21:59
Will Disney want to keep pumping money into a loss-making news channel after the Fox deal?
Unilever sells margarine business to KKR for £6bn
BBC News - Business 15-12-2017 16:58
The Anglo-Dutch firm is selling brands including Flora and ProActiv to the private equity giant.

Bonds

In News
Written by  Thursday, 24 May 2012 08:53

U.S. Treasury debt pared prices losses on Wednesday after the Federal Reserve reiterated it will continue its current program of asset purchases until the labor market improves "substantially."

Benchmark 10-year Treasury notes were trading 1/32 lower in price with the yield little changed from late Tuesday at 2.001 percent. Benchmark notes had been trading 8/32 lower in price just prior to the release of the Fed's latest policy statement.

The 30-year bond last traded 10/32 lower in price to yield 3.203 percent.

The Treasury Department auctioned $29 billion of seven-year notes at a high yield of 1.416 percent. The bid-to-cover ratio, an indicator of demand, was 2.60. That compared to a recent 10-auction average of 2.71.

Prices for U.S. Treasurys traded lower earlier in the session after data showed the U.S. economy unexpectedly shrank at the end of last year, with investors awaiting any hints about the Federal Reserve's asset-buying program as the central bank concludes a two-day meeting.

Gross domestic product fell at a 0.1 percent annual rate, its first decline since the 2007-2009 recession as businesses scaled back on restocking and government spending plunged.

"We have a slowing in government spending associated with the fiscal situation as well as some drawdown in military activity,'' said Terry Sheehan, economic analyst with Stone & McCarthy Research Associates in Princeton, New Jersey. "This report doesn't have immediate implications for Fed policy. They will be unhappy with it, but it's one quarter's number."

While the figure could see revisions in the months ahead, prospects for the new few quarters look "tricky,'' said Rob Carnell, an economist with ING Bank.

"Recent Treasury yield increases and sell-offs in the back month Fed funds futures look premature,'' he said. "We will find better levels to lock in low rates in anticipation of higher yields in the second half of the year."

Treasurys jumped after the data, but soon gave up those gains as investors turned toward Wednesday's other major event: the close of the Federal Reserve's two-day policy meeting.

Investors will scour the bank's statement for any hints of unease with its asset-buying program.

Suggestions along those lines in the December meeting minutes, released on Jan. 3, jump-started a sell-off that took yields up out of their range of recent months.

Investors are also awaiting nonfarm payrolls data on Friday. The Fed wants the unemployment rate to drop closer to 6.5 percent from the current 7.8 percent.

Read 1135 times Last modified on Friday, 24 April 2015 10:33
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