The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
* German 10-, 30-year bond yields hit new lows
* German 2-10 yield gap tightest since 2008
* Long dated EZ bonds outperform, down up to 13 bps
* RBNZ stuns markets with big rate cut
* Weak German industrial output data fans recession fears (Updates pricing)
LONDON, Aug 7 (Reuters) - German long-dated bond yields tumbled to new record lows deep in negative territory on Wednesday as a large rate cut from New Zealand and weak German data gave further impetus to a relentless rally in bond markets.
While some calm has returned to world markets after a ratcheting-up in U.S.-China trade tensions over the past week, fixed income markets continue to benefit from the expectation that a bitter trade war raises global recession risks and strengthens the case for monetary policy easing.
New Zealand's central bank stunned markets by cutting its official cash rate by a bigger-than-anticipated 50 basis points, and looked set to keep policy lower for longer in the face of growing economic risks.
"While New Zealand rarely registers on the radar for European bond markets, the big rate cut at the moment adds to the feeling that central banks need to get ahead of the curve in acting aggressively and not letting their currencies rise," said Christoph Rieger, head of rates at Commerzbank.
Across the bloc, 30-year bonds outperformed with yields falling 10-13 bps , with German ultra-long-dated yields sliding to a record low of -0.147% . Spanish 30-year bond yields fell below 1% for the first time to trade at 0.998%.
Ten-year bond yields across the euro area fell as many as 10 basis points with Spain's 10-year debt slipping to a new all-time low of 0.124%. The Dutch 10-year bond yield hit a new all-time low at -0.504%, while Ireland's 10-year bonds spent the whole session trading with a yield below zero for the first time ,.
Germany's benchmark 10-year bond yield slid to a record low of -0.61%, taking its falls so far this year to a hefty 82 bps and putting it on track for its biggest one-day tumble since ECB President Mario Draghi's Sintra speech in June this year. HSBC said on Tuesday the German Bund yield could tumble to -0.8% by year-end.
It has fallen for nine straight sessions, its longest streak of falls since November 2015, according to Refinitiv data.
Data showed German industrial output fell more than expected in June, a further sign that Europe's biggest economy contracted in the second quarter as exporters got caught in trade disputes.
"All in all, we would characterise today's industrial production report as devastating, with no silver lining," said Carsten Brzeski, chief economist at ING Germany.
Falling German long-dated bond yields pushed the gap over shorter-dated peers to just 25 bps - its tightest since 2008.
"We are seeing some pretty strong bullish flattening across curves," said Rabobank fixed income strategist Matt Cairns.
"If you are paying for the privilege of holding long-dated German debt, that is indicative of a market that doesn't expect central banks to pull back on easy policy anytime soon."
Last week's vow by U.S. President Donald Trump to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply escalating a bruising trade war, pushed German 30-year bond yields and the whole curve below 0% for the first time.
Germany meanwhile sold 2.646 billion euros in a top-up of its 0.00 percent, 5-year Bobl notes in a weak auction that led to a slight underperformance of five-year bonds.
(Reporting by Dhara Ranasinghe Editing by Mark Heinrich)