Treasuries rose Friday, sending benchmark yields to their lowest in nearly four weeks as sagging stocks and signs of subdued inflation allowed bonds to bask in the glow of well-received debt auctions.
The dollar fell against most major currencies Thursday, tracking a change in U.S. stocks, which rose as investors expressed optimism that economic deterioration was ebbing.
U.S. Treasurys rose Thursday, as benchmark yields touched their lowest levels in four weeks following strong demand in an auction of new seven-year notes and as an unexpected jump in jobless claims revived economic worries.
Federal Reserve Chairman Ben Bernanke denied accusations Thursday that he pressured Bank of America to follow through on its purchase of Merrill Lynch late last year or risk having top management removed.
The U.S. Federal Reserve on Thursday extended a number of its emergency funding facilities and swap lines with central banks around the world to Feb. 1, 2010, saying that while conditions in financial markets have improved recently, some markets remain impaired and seem "likely to be strained for some time."
One of the enduring mysteries about Ken Lewis' decision to proceed with Bank of America's $50 billion acquisition of Merrill Lynch last fall is why Lewis did not disclose Merrill's growing weekly multi-billion dollar losses to his shareholders before they voted on the deal on December 5. Was he pressured to close the deal by Federal Reserve Chairman Ben Bernanke and then Treasury Secretary Hank Paulson? Or was Lewis determined to add the investment bank to BofA's financial empire come heck or high water?
The Nasdaq trimmed gains Wednesday and the Dow dipped after the Federal Reserve kept a key short-term interest rate near zero, but said nothing about expanding a program meant to keep long-term rates from spiking.
Treasurys mostly fell Wednesday after a successful auction and a Federal Reserve policy statement that said the economy will continue to be weak for months to come.
The Federal Reserve kept its key interest rate near zero Wednesday, and said in a statement that although the U.S. economy remains weak, there are signs of a recovery.
The dollar rose against rival currencies Wednesday as investors took shelter in the U.S. currency after the Federal Reserve said the economy would "remain weak for some time."
Treasuries rose Friday, sending benchmark yields to their lowest in nearly four weeks as sagging stocks and signs of subdued inflation allowed bonds to bask in the glow of well-received debt auctions.
The dollar fell against most major currencies Thursday, tracking a change in U.S. stocks, which rose as investors expressed optimism that economic deterioration was ebbing.
U.S. Treasurys rose Thursday, as benchmark yields touched their lowest levels in four weeks following strong demand in an auction of new seven-year notes and as an unexpected jump in jobless claims revived economic worries.
Federal Reserve Chairman Ben Bernanke denied accusations Thursday that he pressured Bank of America to follow through on its purchase of Merrill Lynch late last year or risk having top management removed.
The U.S. Federal Reserve on Thursday extended a number of its emergency funding facilities and swap lines with central banks around the world to Feb. 1, 2010, saying that while conditions in financial markets have improved recently, some markets remain impaired and seem "likely to be strained for some time."
One of the enduring mysteries about Ken Lewis' decision to proceed with Bank of America's $50 billion acquisition of Merrill Lynch last fall is why Lewis did not disclose Merrill's growing weekly multi-billion dollar losses to his shareholders before they voted on the deal on December 5. Was he pressured to close the deal by Federal Reserve Chairman Ben Bernanke and then Treasury Secretary Hank Paulson? Or was Lewis determined to add the investment bank to BofA's financial empire come heck or high water?
The Nasdaq trimmed gains Wednesday and the Dow dipped after the Federal Reserve kept a key short-term interest rate near zero, but said nothing about expanding a program meant to keep long-term rates from spiking.
Treasurys mostly fell Wednesday after a successful auction and a Federal Reserve policy statement that said the economy will continue to be weak for months to come.
The Federal Reserve kept its key interest rate near zero Wednesday, and said in a statement that although the U.S. economy remains weak, there are signs of a recovery.
The dollar rose against rival currencies Wednesday as investors took shelter in the U.S. currency after the Federal Reserve said the economy would "remain weak for some time."
Oil prices fell Wednesday after the Federal Reserve held interest rates near zero and said the nation's pace of economic contraction is slowing, but that the economy will stay weak for coming future.
This statement was posted on the Federal Reserve Web site on June 24, 2009.
U.S. Treasurys fell Wednesday in volatile trading dominated by repositioning ahead of an auction of five-year notes and the Federal Reserve's upcoming policy statement.
U.S. stocks were poised for a higher open Wednesday as investors reacted to a stronger-than-expected report on durable goods orders and waited to hear what Federal Reserve policy makers say about the economy.
Stocks struggled Tuesday, with the Dow touching a fresh three-week low, as investors eyed a weaker-than-expected housing market report and geared up for the latest from the Federal Reserve.
U.S. Treasury debt prices rose Tuesday as the market repositioned itself a day ahead of the Federal Reserve's policy statement, gaining additional support from a strong kick-off to the week's record bond auctions.
President Obama offered a passionate defense of the Federal Reserve on Tuesday, explaining his proposal to put the central bank in charge of monitoring broad risks facing the financial system.
Should the Federal Reserve be more worried about the threat of inflation on the long-term horizon, or deflation in the short-term?
The U.S. dollar fell broadly Tuesday as stabilizing equity markets in Europe and the United States eroded safe-haven flows into the greenback.
Stocks were headed for a higher opening on Tuesday morning as investors reacted to Moody's saying it will maintain the United States' credit rating at triple-A. They also awaited the beginning of the two-day meeting of the Federal Reserve.
The U.S. government's response to the credit crisis has been, on the whole, successful in warding off financial Armageddon. But as the banking system stabilizes, the Federal Reserve's emergency loan and market-support programs could start to inadvertently subsidize unwise risk-taking. To avoid having taxpayers once again on the hook for Wall Street excesses, the government needs a clear strategy for winding the schemes down.
Government debt prices jumped Monday as Wall Street experienced a massive sell off and the government bought back $7.5 billion in debt.
President Barack Obama had better be ready for fisticuffs. Though the administration's plan to overhaul U.S. financial regulation appears designed to avoid some big battles, the president's careful political calculus won't spare him from sparring with lawmakers and financial firms.
After three months of rallying, the stock market seems to have hit the wall.
Treasury prices rebounded Friday ahead of a week full of auctions, government purchase operations, and the Federal Reserve's two day meeting.
The dollar and yen fell Friday, while higher-yielding currencies such as the Australian dollar rose as more upbeat U.S. data and gains in equities boosted hopes that a global economic recovery was on track.
Investors are kicking themselves for failing to spot the twin bubbles in the stock and housing markets when the laws of economic gravity for both became spectacularly unhinged. Now, America should be on red alert for another bubble that's destined to pop -- outrageously overpriced government bonds, the flipside being outrageously low interest rates.
Treasury prices tumbled Thursday after the government announced $104 billion in debt auctions and mostly positive economic data sent stocks higher.
Treasury Secretary Timothy Geithner testified before lawmakers Thursday, defending a sweeping set of proposals put forth just a day earlier by President Obama aimed at overhauling the nation's financial system.
President Obama on Wednesday unveiled his long-anticipated plan to restructure how banks and other firms are regulated in the hope of preventing another financial collapse.
Treasury prices were mixed Wednesday as a five-day day rally cooled, with longer-term bonds erasing earlier gains, as stocks moved higher amid tempered inflation worries.
Package delivery giant and U.S. economic bellwether FedEx Corp said the next two quarters will be "extremely difficult" as the recession and higher fuel prices bite into its bottom line, but it also said the pace of economic decline appears to be slowing.
Government debt prices rallied Friday, sending yields retreating from recent multi-month highs, with three major auctions safely behind the market.
Last Saturday, a young African-American president used eloquent prose to challenge the world to learn from the horrors of the Nazi Holocaust at Germany's Buchenwald concentration camp: "To this day, there are those who insist that the Holocaust never happened -- a denial of fact and truth that is baseless and ignorant and hateful. This place is the ultimate rebuke to such thoughts; a reminder of our duty to confront those who would tell lies about our history."
The 10-year Treasury yield soared to 4% for the second day in a row Thursday - before backing off later in the session -- heightening inflation fears and threatening to upset the nascent signs of an economic recovery.
Bank of America CEO Ken Lewis heads to Capitol Hill on Thursday, and he's likely to be grilled by lawmakers about the government's role in ensuring that the bank complete its controversial merger with Merrill Lynch.
The government bailout of banks, lenders, Bear Stearns and AIG brought in billions of dollars to the Federal Reserve in the first quarter of 2009.
U.S. economic conditions were weak or got worse through May, but some areas of the country saw signs the contraction was moderating, a Federal Reserve report said Wednesday.
Federal Reserve Bank of Richmond President Jeffrey Lacker said Wednesday that U.S. government bond yields may be rising due to optimism on a recovery, and views the Fed will raise interest rates sooner than had been expected.
For the second time this year, the Federal Reserve is under pressure to come clean on its role in a costly government bailout of a big financial company.
The dollar ended a two-day winning streak Tuesday, falling against major currencies as investors questioned whether the economy had improved enough to justify talk of higher U.S. interest rates by year end.
All 10 of the largest U.S. banks under orders to raise additional capital as a buffer against further economic shocks have submitted plans to do so, the Federal Reserve said on Monday.
Treasury prices were mixed Monday after the Federal Reserve purchased $7.5 billion of its own debt, and the market braced itself for a busy issuance week.
Long-term Treasury bond yields continue to creep toward 4%, a level they haven't traded at since mid-October. And that's raising an interesting "Is the glass half-full or half-empty" type of debate.
Is the Federal Reserve concerned about inflation? It depends on which member of the central bank you ask.
The refinancing tide has ebbed, but mortgage profits for the nation's biggest banks are in no danger of drying up.
Fixing America's health care system is necessary to expand coverage and prevent rising costs from further straining the U.S. economy, President Obama said Tuesday.
Treasury prices rose Wednesday after the Federal Reserve's purchase of government debt and Fed Chairman Ben Bernanke's comments about the national deficit.
Has the Federal Reserve been reading too many fairy tales?
Despite near universal criticism of their many missteps during the credit bubble, the ratings agencies aren't irrelevant just yet.
The U.S. economy shrank at an annual pace of 5.7% in the first quarter, a less severe drop than initially reported but still the second-biggest quarterly decline in 27 years, the government said Friday.
Government debt prices rose Thursday after the benchmark 10-year yield had hovered at a 6-month high earlier in the session, at the last of three major auctions scheduled for the week.
The government is going deeper into hock and that's starting to make people nervous.
Bailout watchdogs have something new to growl about: the lack of financing in the commercial real estate markets.
House prices are taking a long ride in the wayback machine. Unfortunately, Americans' housing-related debt isn't going anywhere fast.
The nation has a 'flation problem. But it is deflation or inflation? Or maybe it's disinflation, stagflation or hyperinflation?
U.S. stocks were set to open lower Thursday, dragged by ongoing concerns about the nation's economic outlook and the latest report on the dismal job market.
Stocks ended lower Wednesday, erasing earlier gains, as the Federal Reserve's dour economic outlook curbed optimism about the health of U.S. banks.
The Federal Reserve's latest forecasts for the U.S. economy are gloomier than the ones released three months earlier, with an expectation for higher unemployment and a steeper drop in economic activity.
If you're looking for a sign that the economy may be on the mend, look no further than the Treasury yield curve -- a closely monitored harbinger of the economy.
Government bond prices rose Wednesday, with gains accelerating after the Federal Reserve released its most recent - and increasingly grim - forecast for the economy as the minutes from its April meeting.
Treasury prices flip-flopped throughout the session Tuesday as investors digested a weaker-than-expected housing report and awaited the release of the minutes from the Fed's last meeting.
President Barack Obama may be making a broadly decent fist of tackling the financial crisis and the recession. But he is also revealing leanings that could undermine economic recovery and efficiency in the longer term. It's still early days - but fighting these traits is crucial.
Treasury prices rose Thursday as investors responded to a dour reading on the job market and the Federal Reserve bought another $3 billion in U.S. debt.
Want further proof that risk is no longer a four-letter word? Just take a look at what's going on in the bond market.
Euphoria returns! Who could have guessed that Bank of America stock would rally 70 percent the week it learns the Feds are demanding new capital equal to nearly half the bank's market capitalization?
The chairman of the Federal Reserve Bank of New York resigned Thursday, days after coming under attack for his continuing involvement in a company regulated by the institution.
Below is the text of the resignation letter New York Fed Chairman Stephen Friedman sent Thursday to William C. Dudley, New York Fed president.
Disco or new wave? "Jaws" or "E.T.?" Reggie Jackson on the Oakland A's or California Angels? 1975 or 1982?
Federal Reserve Chairman Ben Bernanke said Tuesday that the U.S. economy is stabilizing and will begin to rebound later this year, but the recovery will be slow and cautious.
Treasurys were mixed Monday as signs the economy may be stabilizing outweighed concerns about the record amounts of debt coming to the market this week.
Bankers are bracing for additional losses this year across a wide variety of loan categories, according to a report published Monday by the Federal Reserve, as the nation continues to suffer under the weight of a painful recession.
So much for the Federal Reserve being able to hold long-term bond rates below 3%.
Stocks rallied Wednesday afternoon after the Federal Reserve held interest rates steady, as expected, but issued a slightly more upbeat economic outlook.
The dollar remained weak against the euro and the pound Wednesday after the Federal Reserve said the economy is still hurting but that the pace of the decline appears to be slowing.
Treasurys were mixed Wednesday after the Federal Reserve held its key lending rate near zero and said that the rate of contraction of the economy has slowed since March.
The Federal Reserve said Wednesday that it believes the U.S. economy is getting worse, but the pace of decline has slowed and the outlook has improved.
The following statement was posted on the Federal Reserve Web site on April 29, 2009:
Next week the government is expected to reveal the results of its all-important bank stress-tests. Investors and customers alike will be scrutinizing these numbers to make sure their bank has the wherewithal to survive in this tough economic environment.
A major Obama administration plan to deal with financial companies too big to fail is becoming too big to zoom through Congress.
If the Federal Reserve holds a policy meeting but the market isn't interested, will chairman Ben Bernanke still make a sound?
The dollar and yen strengthened broadly Monday on rising risk aversion as concern grew that an outbreak of swine flu in Mexico could become a global pandemic, while the Mexican peso fell sharply.
Ramping up his campaign to crack down on credit cards, President Obama met Thursday with more than a dozen executives of card-issuing companies to press his case for new consumer protections.
A key House panel on Wednesday advanced a bill to crack down on credit card interest rates and fees amid signs the Obama administration will try to toughen the bill further before it goes to a full vote.
Treasurys fell Tuesday, giving back earlier gains, as investors chased higher returns in the stock market.
Treasurys edged lower Friday as investors responded to the Federal Reserve's ongoing campaign to buy $300 billion worth of U.S. debt.
Treasurys fell Thursday as investors responded to mixed economic news and the Federal Reserve's ongoing campaign to buy $300 billion worth of U.S. debt.
Treasurys were mixed Wednesday as investors responded to reports on inflation and industrial production.
A Federal Reserve official tells CNN that the Fed has not ruled out the idea of having regular news conferences to discuss monetary policy and other issues.
Federal Reserve Chairman Ben Bernanke said Tuesday he sees "tentative signs" that the economy's dramatic decline is easing, but that full recovery won't come until the financial system is stabilized.
Treasury prices rose Monday after the Federal Reserve purchased another $7.4 billion in government debt.
Americans are cutting back on their use of credit cards by a record amount according to the Federal Reserve -- and, maybe for good reason. There are some big changes that are happening to that plastic in your wallet.
Federal Reserve policymakers lowered their economic outlook for the rest of the year at its meeting last month, suggesting that they may not be done taking unprecedented steps to try and jumpstart a recovery.
Treasurys turned lower Monday as investors expressed concern over the flood of debt the government was bringing to market.
The recession entered its 17th month this week, and despite some encouraging signs, few expect a true recovery until the end of this year at the earliest.
Treasurys were mixed Wednesday, with longer term bonds gaining, after the Federal Reserve held its fourth purchase operation.
Treasury prices rose Monday, fueled by uncertainty about the nation's economic recovery after the Obama administration rejected turnaround plans submitted by U.S. automakers General Motors Corp. and Chrysler LLC.
The credit market hasn't shown many signs of changing recently, but that actually may be a good thing.
Is this the worst economy since the Great Depression? And what are the chances of the economy falling into another depression?
Treasury prices fell Wednesday after another big auction raised concerns that the supply of U.S. debt securities could outweigh demand.
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