Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Treasury yields jumped on Thursday after the release of U.S. inflation data that topped economist expectations along with a bonds sale that saw weak demand.
The benchmark 10-year yield rose to 2.13% while the 2-year rate climbed to trade at 1.182%. Bond yields move inversely to prices.
U.S. consumer prices rose by 0.1% last month, the Labor Department said. Economists polled by Reuters expected a flat inflation reading. Core inflation, meanwhile, climbed 2.1% in the 12 months through June.
Andrew Hunter, senior U.S. economist at Capital Economics, is not too worried about a surge in inflation yet, however. "Higher tariffs could yet put some further upward pressure on core goods prices over the coming months but, with growth in unit labour costs slowing, we still think core CPI inflation will remain muted," he said.
Yields extended their gains, however, after a Treasury Department 30-year bond auction saw weak demand. The department sold $34 billion worth of 30-year bonds. The bid-to-cover ratio, a measurement of demand, came in at 2.13. That's well below its 12-month average of 2.27.
Earlier in the day, yields traded lower after comments from Federal Reserve Chairman Jerome Powell supported the case for an interest rate cut later this month.
Testifying in front of the House Financial Services Committee, Powell pointed to "broad" global weakness that was clouding the U.S. economic outlook. His comments bolstered the case for easier monetary policy in the world's largest economy.
In addition to Powell's relatively dovish testimony, the minutes from the Fed's previous policy showed many policymakers thought more policy stimulus would be required soon. Powell is scheduled to testify in front of Senate members on Thursday.