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World news

Mogadishu truck bombing death toll jumps to 358
BBC News - World 20-10-2017 21:47
More than 50 people are also still missing after last Saturday's huge truck bombing, officials say.
King Felipe VI says Catalonia 'will remain' Spanish
BBC News - World 20-10-2017 21:42
King Felipe VI says Spain will solve the crisis through democratic institutions.
Afghan suicide mosque attacks kill scores of worshippers
BBC News - World 20-10-2017 20:04
Some 60 people are killed as worshippers are targeted in two separate attacks on mosques.
Iraq Kurds: Army claims full control of Kirkuk province
BBC News - World 20-10-2017 18:00
Kurdish forces have not confirmed reports that they have given up the last area under their control.
Malawi cracks down on 'vampire' lynch mobs
BBC News - World 20-10-2017 17:02
Some 140 arrests are made over deadly attacks on people accused of sucking their victims' blood.
São Paulo's food pellets plan for poor children divides Brazil
BBC News - World 20-10-2017 16:45
A row is brewing over plans to use reconstituted food from leftovers near expiry to feed poor kids.

Finance

'Huge business rate rise' for small firms
BBC News - Business 20-10-2017 22:38
Inflation-busting increases are looming for thousands of shops in England, says research firm CVS.
BMW headquarters searched by EU investigators
BBC News - Business 20-10-2017 20:20
EU investigators are looking into allegations of a cartel involving BMW and four other German car giants.
Police conduct inquiries into Royal Bank of Scotland unit
BBC News - Business 20-10-2017 19:22
Officers are looking into a division of the bank set up to help failing firms, the BBC understands.
Government borrowing at lowest September level for 10 years
BBC News - Business 20-10-2017 12:21
The figures were the third straight month in which UK public finances were better than analysts forecast.
Rail firms 'consider' railcard for 26 to 30-year-olds
BBC News - Business 20-10-2017 10:23
It's thought one train company will begin trials of the new railcard in December
Australian carmaking runs out of road
BBC News - Business 19-10-2017 17:35
The final vehicle left the production line on Friday, in what many consider a symbolic moment.

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 1063 times Last modified on Friday, 24 April 2015 10:33
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