Economic News

(AFX UK Focus) 2006-08-01 22:49 GMT: NEW YORK (AFX) - Treasury bond prices rose slightly Tuesday, with the yield on the 10-year note closing around its lowest level in a month and a half, despite robust U.S. inflation and economic data.

The dollar dropped to a fresh three-week low versus the euro and was little changed against the yen Tuesday, reversing early gains after solid U.S. economic data raised hopes the Federal Reserve will hike interest rates in August. Currency analysts said investors started to take profits after the dollar's gain earlier today. In New York trading, the euro stood at $1.2815, compared with $1.27 ...

Treasury prices were little changed Tuesday, after a batch of solid U.S. economic data did little to sway market expectations the Federal Reserve will halt its two-year interest-rate tightening campaign in August. The market is in a "wait-and-see mode at this point," said Kim Rupert, managing director at global fixed income analysis at research firm Action Economics, adding that investors are l ...

Treasury prices edged lower Tuesday, sending yields a touch higher, after a batch of solid U.S. economic data trimmed expectations the Federal Reserve will halt its two-year interest-rate tightening campaign in August. The 10-year benchmark Treasury note was last 2/32 lower at 101 01/32 with a yield (TNX) of 4.989%, up from 4.986% late Monday. Bond prices and yields move in opposite directio ...

The dollar rose against major foreign-exchange counterparts Tuesday, after firm economic data reignited hopes the Federal Reserve will raise interest rates again in August. In New York trading, the euro stood at $1.2742, compared with $1.2771 late Monday. The dollar changed hands at 115.23 yen, compared with 114.64 yen. The British pound traded at $1.8663, compared with $1.8679. The dollar w ...

U.S. stocks sold off at midday Tuesday, after a new round of strong economic data dealt a blow to hopes for a speedy conclusion to the U.S. rate- tightening program. Investors are taking in earnings news from Visteon, Verizon and other household names and monthly vehicle sales that are down by a one-third for both Ford and DaimlerChrysler. The Dow Jones Industrial Average (DJI) was down 65 p ...

Home builders gained ground in London on Tuesday, as a mixture of M&A speculation, earnings news and economic data all combined to give the sector a boost. Retirement home builder McCarthy & Stoneshowed some of the strongest gains, up 2% after a consortium including Bank of Scotland, a unit of HBOS, unveiled a 1.1 billion-pound ($2.05 billion) cash offer for the company. This bid top ...

U.S. stocks began August with losses Tuesday, after monthly income and spending data put core inflation at an 11-year high, dealing a blow to hopes for a speedy conclusion to the U.S. rate-tightening program. Investors are taking in earnings news from Visteon, Verizon and other household names as they await Treasury Secretary Henry Paulson's debut speech in his new role. The Dow Jones Indust ...

The dollar rose modestly against major foreign-exchange counterparts early Tuesday, after a government report showed U.S. core consumer inflation matching an 11-year high in June. The core personal consumption expenditure price index, adjusted to exclude food and energy inputs, increased 0.2% for the third straight month in June, and it's has risen 2.4% in the past 12 months, matching the large ...

U.S. stock losses mounted Tuesday morning, after a new round of data, including a report that put core inflation at an 11-year high, dealt a blow to hopes for a speedy conclusion to the U.S. rate-tightening program. Investors are taking in earnings news from Visteon, Verizon and other household names and looking forward to Treasury Secretary Henry Paulson's debut speech in his new role. The  ...