The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.020 percent, down from 0.025 percent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.075 percent, the same as last week. For a $10,000 bill, the three-month price was $9,999.49, while a six-month bill sold for $9,996.21.» Read More
A gauge of manufacturing in New York state contracted in June for the fourth time in five months, the New York Federal Reserve said in a report on Monday that also painted a mixed picture on inflation.
Surging food and fuel prices drove euro zone inflation to a new record high of 3.7 percent year-on-year in May, data showed, cementing expectations that the European Central Bank will raise interest rates on July 3.
China's factories hummed along last month, barely touched by the devastating earthquake in Sichuan. Industrial production growth inched up to 16.0% in the the year to May, topping market forecasts of 15.7%.
A few weeks ago the folks heading up the mortgage industry’s “Hope Now” initiative, which aims at getting lenders and servicers to refi, modify, or set up repayment plans for borrowers, came over to tell me how wonderful they were doing, and how their numbers were improving.
A look ahead to some of the major European events in business and politics next week.
Soaring gasoline and energy prices helped drive up U.S. consumer prices during May by the fastest rate since November, a government report showed.
Lunchtime on Friday 13th in Dublin and it looks to be unlucky for some. The results are still being counted, but early reports certainly suggest that the 'No' side has done better than it had hoped.
With Fed Chairman Ben Bernanke sounding alarms about inflation, the consumer price index is expected to have risen by 0.5 percent in May.
U.S. home foreclosure filings in May increased from April and were a whopping 48 percent higher than a year earlier, real estate data firm RealtyTrac said Friday.
The Bank of Japan kept interest rates on hold at 0.5% in a unanimous vote on Friday, as widely expected, as it balanced concerns about rising inflation with a worsening economic outlook.
China's retail sales held up in May despite the devastating Sichuan earthquake. May retail sales growth edged down to 21.6% from 22.0% in April, slightly below a consensus forecast of 21.8%.
Is there a July Fed action coming to take back a one-quarter rate cut? I think so. That would put up the target to 2.25%. It would be a shot heard round the world, strengthening the dollar and attracting new liquidity and capital flows into the US economy.
U.S. business inventories rose 0.5 percent in April, more than expected, while sales were their strongest since November, a government report showed.
Total sales at U.S. retailers rose a full percentage point in May as many consumers had more spending cash in their wallets from government rebate checks, a report on Thursday showed.
The Federal Reserve's leading inflation hawk told CNBC that interest rates will have to rise soon in order to keep a lid on rising prices.
The inflation outlook for 2008 in the U.S., Japan, euro zone and the UK rose again in June, triggering big revisions to economists' interest rate forecasts, Reuters polls showed on Thursday.
Chinese annual inflation fell in May to 7.7%, the first major break in a year-long surge, as food price increases slowed and other products resisted rising global commodity costs, the government said on Thursday.
South Korea's central bank held interest rates steady for a 10th consecutive month on Thursday, as expected, but warned Asia's fourth-largest economy faced a bigger risk from rising inflation than a domestic slowdown.
Here is a building, completed in 1930 and built to house the headquarters of the once-great American auto manufacturer, being sold to the folks who are holding a death-grip on America’s wallets.
The US economy remained "weak" in May as consumer spending slowed due to higher energy and food prices, the Federal Reserve said in its Beige Book summary.