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NEW YORK, May 21- U.S. Benchmark yields edged up, flirting with 2 percent, which was their highest level since mid-March, after Wall Street stocks touched new highs and nicked the appeal of low-yielding U.S. government debt. There is no reason to bid it before Bernanke, "said Eric Green, global head of rates and currency research and strategy at TD Securities in New York.
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Investors are watching to see if Abu Dhabi will use its wealth to bail out Dubai, the deeply indebted emirate that shook world markets when it said last week that its chief investment arm, Dubai World, would not be able to pay its debts on time. The New York Times reports.
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Dubai is now the next domino to fall as the fragility of the world's banking system comes under further pressure.
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Stocks rallied at the beginning of the week, then sold off on Dubai worries Friday, leaving the Dow within 10 points of where it started the week.
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Stocks pared their losses Friday, after a sharp drop at the open amid worries about Dubai defaulting on its debt.
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Dubai's debt woes may serve as a catalyst for a correction in stock markets but it does not signal a new crisis, investment manager Mohammed El-Erian told CNBC.
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The fact that Dubai has been struggling under huge debts is not a surprise to anyone who has followed the Emirate’s economy over the last 10 years.
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U.S. stock index futures pointed to a sharply lower open for a holiday-shortened session Friday, mirroring losses in European and Asian markets after Dubai announced the first step of restructuring some of its debt.
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The U.S. will need to eventually enact national value added tax in order to raise revenue and decrease its deficit, Paul Donovan, MD & deputy head of global economics at UBS, said Thursday.
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The ultralow interest rates the U.S. has been paying on its colossal debt may not last much longer, and the White House estimates that the tab will exceed $700 billion a year in 2019, the New York Times reported.
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For the first time in a decade, more people paid their credit card bills on time in the third quarter this year than in the second quarter.
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An auction to determine the value of Washington Mutual's credit default swaps priced them at $0.57—below the initial price of $0.63625 set in the auction.
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A British charity is pioneering the idea of reducing the country's bulging debt by encouraging people to buy gift vouchers that will be sent to the Treasury.
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The coroner’s report left no doubt as to the cause of death: toxic loans. That was the conclusion of a financial autopsy that federal officials performed on Haven Trust Bank, a small bank in Duluth, Ga., that collapsed last December, the New York Times reported.
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A certain segment of the hedge fund industry is in the midst of evolving. The evolution of these hedge funds is apparent in their shift from focusing on short-term gains to long-term maximization of value.
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Nicolas Cage is being sued by his former business manager, who claims lavish spending, not his advice, is to blame for the actor's financial problems.
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Goldman Sachs apologized for the role it played in the financial crisis, by taking part in the credit boom which preceded the bursting of the bubble the Financial Times reported Wednesday.
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The pace at which people fell behind on their mortgages slowed during the summer for the third consecutive quarter, but the overall delinquency rate hit another record, a new report shows.
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Governments and companies will soon find themselves battling over the small supply of private savings available, paving the way for another recession, Ron Napier, head of Napier Investment Advisors, told CNBC Monday.
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The crisis is not over as unemployment is likely to continue rising for the next 10 to 11 months, Dominique Strauss-Kahn, managing director of the IMF, told CNBC Thursday.