Treasuries Up—Again—On Eurozone Debt Deterioration [Bloomberg] "Treasury 10-year note yields fell for a third straight day for the first time since November amid concern about a bailout for Portugal, and as it joins Spain and Italy in plans to borrow at least $43 billion this week. Two-year note yields touched the lowest in almost five weeks as the cost of insuring Portuguese bonds against default rose to a record. Treasuries yields extended a drop from Jan. 7, after Federal Reserve Chairman Ben S. Bernanke said the labor- market recovery will be gradual and a report showed the nation’s employers added fewer jobs than forecast. The Fed bought $7.79 billion in Treasuries due from February 2018 to August 2020 as part of its plan to spur the economy."
Further ECB Intervention in Eurozone Debt [Financial Times] The European Central Bank intervened to prop up the eurozone bond markets on Monday as political leaders and bankers warned the debt crisis was deepening amid fears Portugal was edging closer to an international bail-out. Although European Union officials denied they were talking about a bail-out for Portugal, the ECB had to buy the country’s government bonds to stop the market selling off steeply before important debt auctions in Lisbon on Wednesday.Investor attention is also turning towards Belgium, which has the third highest public debt-to-GDP ratio in the eurozone. The king of Belgium asked the country’s caretaker prime minister to draw up a tighter budget for 2011 than the one already agreed with the EU to ease market concerns over his country’s debt."
Arizona Shooting Suspect Appears in Court [Wall Street Journal] "Jared Lee Loughner, the man suspected of shooting 20 people Saturday, including a U.S congresswoman, made his first appearance in federal district court here Monday afternoon but said nothing that would reveal his possible motives. In a brief hearing before Magistrate Judge Lawrence O. Anderson, the 22-year-old Mr. Loughner, accompanied by federal public defender Judy Clarke, spoke clearly and deliberately when addressed by the judge.With a closely shaved head, Mr. Loughner entered the courtroom shackled at the waist wearing a dark beige jail jumpsuit. A U.S. Marshal stood nearby the defendant during the roughly 15 minute hearing."
Speculation Ramps on Verizon iPhone Unveiling [CNN Money] "After years of speculation and rumor, the big day is here: The anxiously awaited unveiling of a Verizon iPhone is expected to take place Tuesday morning—at 11 a.m. on 1/11/11, to be exact. On Apple's end, the iPhone has been a huge success. The company has sold more than 70 million iPhones since the device's launch in 2007. In its its fiscal fourth quarter it sold more than 14.1 million, up 91% from a year earlier. But for AT&T (T, Fortune 500)—currently the iPhone's sole U.S. carrier— the exclusive contract has come at a price. Customers have complained in droves about awful service on their iPhones, culminating in scathing Consumer Reports piece in December that labeled AT&T the worst phone carrier out there."