U.S. Treasuries prices slip after ECB cuts rate
NEW YORK, May 2 (Reuters) – U.S. Treasuries prices slipped
on Thursday after the European Central Bank cut its main
interest rate.
The benchmark 10-year Treasury note slipped 3/32, allowing
its yield to edge up to 1.646 percent from 1.633
percent late on Wednesday.
Stocks, euro rise after Cyprus banks reopen
NEW YORK (Reuters) – The benchmark S&P 500 stock index set a record closing high while the euro rose from a four-month low as banks in Cyprus reopened to relative calm on Thursday after the island’s controversial bailout that taxed large depositors.
Stocks rose on Wall Street, the S&P closing at 1,569.19, surpassing the previous record high on October 9, 2007.
Stocks, euro gain as Cyprus banks reopen
NEW YORK (Reuters) – Major stock markets recovered and the euro edged off a four-month low on Thursday, as banks in Cyprus reopened to relative calm following the island’s controversial bailout.
On Wall Street, stocks moved in and out of positive territory in choppy, pre-holiday trade.
Global stocks, euro gain as Cyprus banks reopen
NEW YORK (Reuters) – Major stock markets recovered and the euro edged off a four-month low on Thursday, as banks in Cyprus reopened to relative calm following the island’s controversial bailout.
On Wall Street, stocks moved in and out of positive territory in choppy, pre-holiday trade. .N
Prices slip as equity rally lures investors
NEW YORK (Reuters) – The commitment to a stimulative monetary policy reiterated by Federal Reserve Chairman Ben Bernanke favored riskier assets over safe-haven U.S. debt, sending U.S. bond prices lower on Wednesday.
The fear of imminent U.S. government spending cuts and uncertainty about Italian politics which sent U.S. bond yields to one-month lows earlier this week abated as investors favored stocks and took some profits in U.S. Treasuries.
Don’t fear inflation boogeyman: BofA’s Harris
Worries about potential side-effects of unconventional monetary policy on financial markets are at least exaggerated, if not a near figment of the imagination.
This appears to be the conclusion of a comprehensively-argued research note by Bank of America Merrill Lynch global economist Ethan Harris.
New drama casts American Dream in a cold light
The American Dream distorted almost beyond recognition by mass foreclosures, women working on straight commission, men not working at all, and an alleged “higher power” who wants you to be rich beyond your wildest dreams, is the subject of the Women’s Project Theater’s production of “Bethany,” a new play by the young playwright Laura Marks.
The central character, Crystal, (played by America Ferrera, star of the “Ugly Betty” television series) is trying to regain custody of her daughter, Bethany, who has been placed in foster care because foreclosure has left her mother homeless.
Higher US bond yields may impede economic recovery
NEW YORK, Feb 3 (Reuters) – A rough couple of months in the
U.S. bond market has lifted interest rates off record lows and
could impede a slow economic recovery heavily dependent on cheap
money to keep going.
While stocks have surged to near-record levels from five
years ago, an accompanying rally in the $11.6 trillion U.S.
Treasury debt market appears to have run out of steam and bond
prices have dropped steadily since early December. That has
pushed up bond yields, which move in the opposite direction to
prices and they are now at the highest levels since last spring.
Analysis: Higher U.S. bond yields could impede economic recovery
NEW YORK (Reuters) – A rough couple of months in the U.S. bond market has lifted interest rates off record lows and now could impede a slow economic recovery heavily dependent on cheap money to keep going.
While stocks have surged to near-record levels from five years ago, an accompanying rally in the $11.6 trillion U.S. Treasury debt market appears to have run out of steam and bond prices have dropped steadily since early December. That has pushed up bond yields, which move in the opposite direction to prices and they are now at the highest levels since last spring.
Global stocks edge higher, data offsets Apple’s plunge
NEW YORK (Reuters) – World equity and commodity markets rose on Thursday on encouraging economic data, with U.S. stocks briefly topping a key psychological milestone despite a selloff in Apple shares that wiped out about $60 billion of its market value.
In currency markets the dollar soared 2 percent against the yen, on track for its biggest one-day gain in nearly 15 months, after a Japanese official said the government had no problem with the dollar strengthening to 100 yen.
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