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AirAsia X flight forced to land after 'shaking like washing machine'
BBC News - World 25-06-2017 10:42
AirAsia pilot changes course from Perth after an engine problem causes passenger plane to vibrate.
Pakistan oil tanker inferno kills at least 140
BBC News - World 25-06-2017 10:38
People were killed as they gathered to collect fuel from the overturned tanker, officials say.
China landslide: More than 100 missing as search continues
BBC News - World 25-06-2017 08:55
Thousands of rescuers are digging through rocks for a second day in the hope of finding survivors.
Texas mother held after two toddlers die in hot car
BBC News - World 25-06-2017 06:55
The Texas woman admitted she shut the car door to teach her girl and boy "a lesson", police say.
Trump accuses Obama of inaction over Russia meddling claim
BBC News - World 25-06-2017 01:15
The president says his predecessor "did nothing" despite knowing of meddling claims before the poll.
Italy acid attack model Gessica Notaro returns to work
BBC News - World 24-06-2017 21:32
The former Miss Italy finalist said she was doing so to encourage other women to defy bullies.


Free trade deals for 'poorest countries' to be maintained post-Brexit
BBC News - Business 25-06-2017 01:03
The government commits to maintaining duty-free imports for 48 developing countries.
Building society's account deadline axed
BBC News - Business 23-06-2017 22:01
Current accounts at the Norwich and Peterborough had been earmarked to close by the end of August.
Tesco is raising store staff pay by 10.5% over two years
BBC News - Business 23-06-2017 21:29
Hourly pay rates will rise to £8.42 an hour by November 2018 but Sunday pay will be reduced.
Troubled Toshiba flags deeper losses
BBC News - Business 23-06-2017 15:44
The troubled Japanese electronics giant delays its final earnings report again as its losses worsen.
Watchdog clamps down on online gambling
BBC News - Business 23-06-2017 11:28
The competition regulator is to take action against betting sites which it says are breaking consumer law.
Hinkley Point deal 'risky and expensive'
BBC News - Business 23-06-2017 07:43
Costs and risks for energy users 'not sufficiently considered' warns the National Audit Office.


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.

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