Economic News

Treasury prices closed under pressure Monday, sending yields higher, as investors awaited a Tuesday auction of $21 billion in 3-year notes and the Federal Open Market Committee's decision on interest rates on Wednesday. The benchmark 10-year Treasury note closed down 4/32 at 95-9/32 with a yield ( TNX) of 5.118%. The 30-year long bond ended unchanged at 89-19/32 with a 5.18% (TYX) yield and  ...

The European Union’s economic recovery will gather pace this year, reducing unemployment and government deficits the European Commission forecast on Monday. // The brighter outlook will be marred, however, by persisent “structural weakness” in Italy, despite the global upswing, and the failure of Italy and France to rein in excessive budget deficits. The Commission predicted growth in the EU economy of 2.3 per cent this year, significantly up from the 1.6 per cent in 2005, and higher than t ...

Treasury prices were pressure Monday afternoon, sending yields higher, as investors awaited a Tuesday auction of $21 billion in 3-year notes and the Federal Open Market Committee's decision on interest rates on Wednesday. The benchmark 10-year Treasury note last was down 5/32 at 95-8/32 with a yield (TNX) of 5.12%, up from 5.11% at Friday's close. . The 30-year long bond was off 4/32 at 89-1 ...

The dollar continued its slide against major rivals Monday, hitting an eight-month low against the yen, after comments from U.S. and Japanese officials diminished expectations the Bank of Japan will intervene to halt the yen's rise. At the same time, the U.S. currency also touched fresh one-year lows against the euro, British pound and Swiss franc. U.S. Treasury Undersecretary Timothy Adams  ...

The European Commission has pushed up its estimate for economic growth in the eurozone this year to 2.1% from 1.9%. Investment, sustained world growth and consumer demand in Germany will help to boost the economy of the 12-nation bloc, the commission predicts. It also said the economy of the EU as a whole would grow by 2.3% this year from 1.6% in 2005. But it warned that potential supply disruptions made volatile oil markets the EU's "biggest near-term risk". The economy of the eurozone gr ...

The market value of some golf memberships in Japan, a keenly watched proxy for property prices and economic activity, has soared in recent months, sparking talk of a mini-bubble. // The stirring of golf course membership fees after years in the deflationary bunker coincides with evidence that land prices, which have been falling since the economic bubble burst in 1990, could finally be rising ag ...

BASEL, Switzerland (Reuters) - Central bank heads from leading industrialised and developing countries called for special attention to prevent the ongoing global economic boom from turning inflationary. Jean-Claude Trichet, president of the European Central Bank and spokesman for the G10 group of central bank governors, called on monetary policymakers not to be complacent, saying inflationary exp ...

The under-fire US dollar fell sharply against Asian currencies in early trade on Monday as Asian markets re-opened after the Golden Week holiday and a perceived war of words between the US and Japan intensified. // Tim Adams, the US Treasury under-secretary for international affairs, on Friday warned against verbal intervention in the currency market, appearing to rebuke Japanese officials who have repeatedly said that the final communique from the last month’s G7 meeting did not call for the d ...

WASHINGTON (Reuters) - The Federal Reserve will raise interest rates once more and leave them steady at 5 percent through 2007 as economic growth slows and inflation remains moderate, according to a survey of economists released on Monday. A panel of 50 forecasters surveyed by the National Association of Business Economics bumped up its consensus outlook for second-quarter economic growth to a 3. ...