NEW YORK, May 5- U.S. The selling on Tuesday, often by traders winding down Treasury positions as inflation pressures show signs of quickening, accelerated after the Institute for Supply Management said its services index rose to 57.8 last month from 56.5 in March. "That was better than forecast," said Anthony Valeri, fixed-income strategist at LPL Financial in San...» Read More
Pimco's manager in charge of the world's largest bond fund, Bill Gross, may have made a mistake when betting against US bond prices earlier this year, but the economy has deteriorated faster than anyone had appreciated, analysts told CNBC Tuesday.
A few years ago, I pointed out in a column that the cost of insuring the US government against a default in the credit derivatives market, had risen above that of McDonalds, the US fast food company, for the first time, the FT's Gillian Tett writes.
Volatility is likely to be a major challenge for the asset management industry and institutional investors, as a lack of transparency and major concerns over the global economy persist, according to Nicholas Lyster, European CEO of asset management firm Principal Global Investors.
Gasoline futures opened slightly lower Sunday evening as East Coast refineries got through Hurricane Irene relatively unscathed.
ConocoPhillips has shut down its 238,000 barrel-per-day Bayway refinery New Jersey, as a precaution ahead of Hurricane Irene. The company also says its terminals are shutting down until it is safe to resume operations.
Gasoline futures declined Friday but rose nearly 3 percent for the week amid hurricane fears.
Federal Reserve Chairman Ben Bernanke is unlikely to announce a third round of quantitative easing in his Jackson Hole speech this afternoon, Tony Fratto, the director of Hamilton Place Strategies, a public policy research firm, told CNBC.
In any murder mystery film, it pays to watch the boring gray man (or woman) in the corner; quiet, unobtrusive characters can be deadly. So, too, in finance. Four years ago, the giant US money market funds seemed some of the dullest actors in the global financial scene. But in 2007, they quietly helped to spark the crisis in the mortgage-backed securities world.
The president of the Kansas City Federal Reserve told CNBC he sees a 20 percent chance of a recession.
Federal Reserve Chairman Ben Bernanke's speech from Jackson Hole, due later on Friday, has already been more widely trailed than a James Cameron film – although you can expect fewer special effects.
Federal Reserve Chairman Ben Bernanke may be willing and able to provide more monetary stimulus for the U.S. economy, but the more effective medicine—fiscal aid out of Washington—isn’t in the wings, say economists.
This speech will give Bernanke a chance to clear up some of the vague statements he made during the recent FOMC, says Jim Caron, Morgan Stanley Head of Interest Rate Strategy, who adds the Fed chief will probably not announce a QE3 or share details of steps to grow the economy.
Investors thinking they can find both safety and yield in Treasurys are making a dangerous bet that could begin to unravel soon, especially if the Federal Reserve switches from its easing programs to an updated version of Operation Twist.
This year, many states are receiving their first bit of good economic news since the beginning of the recession. More than half of them will take in more revenue than they expected, and a handful are reporting surpluses, according to one study. Several other reports point to the same trend: states' 2011 budgets heading in the right direction as tax collections increase.
A look ahead of Bernanke's speech and the risk aversion in Treasurys and stocks, with Peter Fisher, BlackRock global head of fixed income.
The economy is increasingly at risk of falling into recession, and could be more so if the stock market doesn't find its sea legs sometime soon.
Those looking for a clear and unambiguous green light for QE3 from Fed Chairman Ben Bernake’s much anticipated speech in Jackson Hole on Friday could be disappointed.
On July 21, EU leaders agreed to a second bailout for Greece, one that was supposed to draw a line under the euro zone debt crisis and give the new government in Athens a chance come to grips with the huge debts it inherited when it was elected. One month later, and the situation appears to be getting worse rather than better, according to Simon Derrick, the head of currency research at Bank of New York Mellon.
The fact that Deven Shama, the president of Standard & Poor’s, has stood down from his job just a couple of days after the agency downgraded the United States' credit rating has raised questions over whether he is being made into a scapegoat to deflect political pressure on the credit ratings agency.
Markets are caught up in the push pull of worry about Europe's debt crisis and sluggish U.S. growth.