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World news

Chile abortion: Court approves easing total ban
BBC News - World 21-08-2017 22:16
News of the judges' ruling by 6-4 led to celebrations among left-of centre parties in Santiago.
Trump to unveil Afghanistan war strategy
BBC News - World 21-08-2017 22:13
The US president is expected to outline a more aggressive US counter-terrorism policy in the region.
Kim Wall: Torso found amid search for submarine journalist
BBC News - World 21-08-2017 22:04
"Too early" to tell if woman's remains are those of missing Swedish journalist Kim Wall, police say.
Ambushed Ohio judge shoots gunman dead outside court
BBC News - World 21-08-2017 21:54
Judge Joseph Bruzzese was shot several times, but returned fire in a gunfight outside his chambers.
Barcelona attack: Van driver shot dead by police
BBC News - World 21-08-2017 21:36
Younes Abouyaaqoub, wearing a fake explosive belt, was cornered west of Barcelona after a tip off.
US Navy orders 'operational pause' after collision
BBC News - World 21-08-2017 19:51
The inquiry will look at "all related accidents at sea", US Defence Secretary James Mattis says.

Finance

Johnson & Johnson faces $417m payout in latest talc case
BBC News - Business 21-08-2017 22:31
The payout - to a woman who developed ovarian cancer - is the largest award so far against the firm.
Co-operative Group's stake in Co-op bank to fall to 1%
BBC News - Business 21-08-2017 21:49
Shareholders back a £700m rescue deal that will cut the Co-op Group's stake in the Co-op Bank.
Would you live in a home the size of a Tube carriage?
BBC News - Business 21-08-2017 18:26
The number of properties little bigger than a budget hotel room has soared, says Which?
Cambridge University Press reverses China censorship move
BBC News - Business 21-08-2017 16:51
Cambridge University Press restores access to sensitive China stories after academics protest.
China's Great Wall eyes Fiat Chrysler bid
BBC News - Business 21-08-2017 16:39
The Chinese SUV maker says it is interested in buying the Jeep owner, but no approach has been made.
VW to relaunch Kombi van as electric vehicle
BBC News - Business 21-08-2017 11:05
The famous van is set to return in modern electric form, five years after production finally ended.

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