Treasury's Malpass Says US Bond Market Robust, Warns on China
Bond prices climbed into positive territory in the afternoon, extending the rebound from yesterday's intraday lows.
Though a bout of recent selling has pushed Treasury yields to their highest levels in months, the results of the $12 billion, 30-year bond auction showed some investors see the move as a buying opportunity.
The thirty-year bond auction drew a high yield of 2.867 percent and a bid-to-cover ratio of 2.74, while the ten previous thirty-year bond auctions had an average bid-to-cover ratio of 2.32.
Benchmark 10-year notes gained 6/32 in price to yield 2.53 percent, after rising as high as 2.597 on Wednesday, the highest since March 15.
The drop in the dollar came after Bloomberg reported that Chinese officials reviewing foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries.
SAFE says it only learned of the supposed plan through media reports, blaming them on "erroneous information sources" (错误的信息来源 cuòwù de xìnxī láiyuán) or "fake information" (假消息 jiǎ xiāoxī).
The SAFE said China has been diversifying its foreign currency reserves investments to help "safeguard the overall safety of foreign exchange assets and preserve and increase their value".
United Parcel Service, Inc. (NYSE:UPS) Stake Lifted by Hendershot Investments Inc
The active investment managers in our partner's database now hold: 451.38 million shares, up from 447.95 million shares in 2017Q2. S&P Research maintained the stock with "Buy" rating in Wednesday, July 29 report. (NYSE: UPS ) rating on Monday, January 8.
Tom Hanks and Meryl Streep are brilliant in Spielberg's news drama
Is the scene so obvious that the ghost of Frank Capra himself would call it corny? You love movies about Robert McNamara. But historical irony, no matter how relevant, means little to movie-goers if a film isn't well told and well executed.
Feds say Texas violated special education laws
The agency also collected more than 400 public written comments from those who could not attend a meeting in person. Legislators passed a law in May prohibiting Texas from capping special education services.
The major US index futures are pointing to a higher opening on Thursday on the heels of the first losing session of the new year.
The Labor Department said import prices inched up by 0.1 percent in December after climbing by an upwardly revised 0.8 percent in November. Economists had expected prices to rise by 0.2%.
At 6:50 a.m. ET (1150 GMT), Dow e-minis were down 109 points, or 0.43 percent, with 27,895 contracts changing hands.
Excluding food and energy prices, core producer prices still dipped by 0.1% in December following a 0.3% increase in November.
Economic data may also attract attention, with traders likely to keep a close eye on reports on retail sales and consumer price inflation.
"I expect him to give strong remarks favoring USA workers and explaining how his presidency is characterized by putting American interests first in terms of our policies but also the importance of being engaged in world affairs as we continue to be", Malpass said, after meeting European Union officials in Brussels, including chief Brexit negotiator Michel Barnier and aides of EU President Donald Tusk.
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