(Reuters) - South Africa's economy may be growing above its capacity but this does not pose a significant threat to the inflation outlook, a senior central bank official said on Tuesday.
"We believe we are more or less at levels that are not posing an excessive threat to the inflation outlook," Reserve Bank economist Brian Khan said at a open forum on monetary policy in Pretoria.
Read more at Reuters Africa
Tuesday, May 15, 2007
European 10-Year Yields May Trade Near Three-Year High Before CPI Report
(Bloomberg) -- European 10-year bond yields may trade near the highest in almost three years before a report that's likely to show inflation in the euro region is close to the European Central Bank's 2 percent ceiling.
The yields have risen 35 basis points this year on speculation robust economic growth will fan inflation and prompt higher interest rates. Futures trading shows that investors are raising bets on how high policy makers will lift interest rates.
Read more at Bloomberg Bonds News
The yields have risen 35 basis points this year on speculation robust economic growth will fan inflation and prompt higher interest rates. Futures trading shows that investors are raising bets on how high policy makers will lift interest rates.
Read more at Bloomberg Bonds News
Buffett's Berkshire Boosts Bet on Health-Care Stocks With J&J and Sanofi
(Bloomberg) -- Berkshire Hathaway Inc.'s Warren Buffett increased a bet on health-care stocks in the first quarter, almost doubling the company's stake in Johnson & Johnson and adding to its Sanofi-Aventis SA holding.
Berkshire bought 24.1 million shares of J&J, the world's biggest health-care products company, to finish March with 48.7 million, the firm said in a filing with the U.S. Securities and Exchange Commission yesterday. The company boosted the number of American depositary receipts it held in Sanofi, France's largest drugmaker, 70 percent to 828,500, and disclosed an investment in WellPoint Inc., the No. 1 U.S. health insurer, for the first time.
Read more at Bloomberg Bonds News
Berkshire bought 24.1 million shares of J&J, the world's biggest health-care products company, to finish March with 48.7 million, the firm said in a filing with the U.S. Securities and Exchange Commission yesterday. The company boosted the number of American depositary receipts it held in Sanofi, France's largest drugmaker, 70 percent to 828,500, and disclosed an investment in WellPoint Inc., the No. 1 U.S. health insurer, for the first time.
Read more at Bloomberg Bonds News
Chancellor Brown Says U.K. Inflation Shows Signs of `Coming Down' in May
(Bloomberg) -- Chancellor of the Exchequer Gordon Brown said U.K. inflation is falling this month and he will maintain the Bank of England's target for price stability.
``Having carefully examined current inflationary trends and then re-examined the basis of our approach, I believe we are right to maintain our view that directly targeting inflation is the way forward,'' Brown told business leaders in London late yesterday. ``Inflation this month is coming down.''
Read more at Bloomberg Bonds News
``Having carefully examined current inflationary trends and then re-examined the basis of our approach, I believe we are right to maintain our view that directly targeting inflation is the way forward,'' Brown told business leaders in London late yesterday. ``Inflation this month is coming down.''
Read more at Bloomberg Bonds News
Judge scolds star witness at Conrad Black trial
(Reuters) - "I have told you multiple times over several days: Restrain your answers to the question posed," Judge Amy St. Eve told former Black business partner David Radler, who was on the stand for a sixth day facing often withering cross-examination.
She told Radler's lawyer, Joseph Duffy, to tell him to be responsive to questions.
Read more at Reuters.com Bonds News
She told Radler's lawyer, Joseph Duffy, to tell him to be responsive to questions.
Read more at Reuters.com Bonds News
AT&T sees mobile, U-Verse ads growing to $1 bln
(Reuters) - "We really expect over the next three years that we are going to be able to put this into something significant to contribute to the bottom line," said Stankey at the Reuters Global Technology, Media and Telecoms Summit in New York.
Stankey told Reuters Television that advertising over AT&T's networks could be a billion dollar business over the next three years.
Read more at Reuters.com Business News
Stankey told Reuters Television that advertising over AT&T's networks could be a billion dollar business over the next three years.
Read more at Reuters.com Business News
Tribune Forced to Pay Higher Interest Rates on $5.51 Billion in Loans
(Bloomberg) -- Tribune Co., owner of the Chicago Tribune and Los Angeles Times, will have to pay higher interest rates than it initially proposed on $5.51 billion of loans to fund its buyout, three investors involved in the deal said.
Tribune may pay 3 percentage points over the London interbank offered rate on the seven-year term loan, said the investors, who declined to be identified because the terms aren't public. The media company sought on April 26 to pay Libor plus 2.5 percentage points.
Read more at Bloomberg Bonds News
Tribune may pay 3 percentage points over the London interbank offered rate on the seven-year term loan, said the investors, who declined to be identified because the terms aren't public. The media company sought on April 26 to pay Libor plus 2.5 percentage points.
Read more at Bloomberg Bonds News
Chrysler CEO says brands will not be broken up
(Reuters) - The CEO also said Cerberus has endorsed the current product plan and investment in plants.
"The product plan is set," LaSorda said.
Read more at Reuters.com Business News
"The product plan is set," LaSorda said.
Read more at Reuters.com Business News
UPDATE 1-Mexico's April same-store sales down 2.5 pct-ANTAD
(Reuters) - In April 2006, ANTAD's members same-store sales jumped 9.1 percent. The results are recorded at outlets that have been open for at least 12 months and are seen as the most reliable indicator of retailers' operating performance.
Department stores had the weakest performance last month, according to ANTAD, also known as the National Association of Supermarkets and Department Stores.
Read more at Reuters.com Market News
Department stores had the weakest performance last month, according to ANTAD, also known as the National Association of Supermarkets and Department Stores.
Read more at Reuters.com Market News
Cocoa in New York Falls to One-Week Low as Rain Bolsters African Crops
(Bloomberg) -- Cocoa in New York fell to a one-week low as rain bolstered crops in Ivory Coast and Ghana, the biggest growers of the beans used to make chocolate.
The rain will moisten soils for the crop that usually flowers in April and May and is harvested in October, said Meteorlogix LLC in Woburn, Massachusetts. Weekly cocoa shipments at Ivorian ports rose 21 percent from a week earlier to 17,000 tons, London-based Sucden Ltd. said today in a report.
Read more at Bloomberg Commodities News
The rain will moisten soils for the crop that usually flowers in April and May and is harvested in October, said Meteorlogix LLC in Woburn, Massachusetts. Weekly cocoa shipments at Ivorian ports rose 21 percent from a week earlier to 17,000 tons, London-based Sucden Ltd. said today in a report.
Read more at Bloomberg Commodities News
Home builder sentiment sinks to 15-year low
(Reuters) - The NAHB/Wells Fargo Housing Market index dropped three points to 30 in May, matching the 15-year low set in September 2006, the group said.
Economists polled by Reuters had forecast the index would stay at April's 33 reading. The index stood at 46 last May.
Read more at Reuters.com Business News
Economists polled by Reuters had forecast the index would stay at April's 33 reading. The index stood at 46 last May.
Read more at Reuters.com Business News
Euronext First-Quarter Revenue Rises 16 Percent as Trading Level Increases
(Bloomberg) -- Euronext NV, which was bought by NYSE Group Inc., said first-quarter revenue increased 16 percent on record trading.
Total revenue in the quarter rose to a record 310 million euros ($420 million) from 268 million euros in the year-earlier period, Euronext said today in an e-mailed statement.
Read more at Bloomberg Stocks News
Total revenue in the quarter rose to a record 310 million euros ($420 million) from 268 million euros in the year-earlier period, Euronext said today in an e-mailed statement.
Read more at Bloomberg Stocks News
Rand holds tight range, looks for direction
(Reuters) - South Africa's rand traded in a tight range on Tuesday, as its gains from importer demand were offset by steady metals prices, and traders said the currency's short-term outlook was not clear.
The rand was trading at 6.9190 versus the dollar at 1525 GMT, about 0.3 percent firmer than its New York close of 6.9450 on Monday. It briefly flirted with the key 7/dlr mark earlier in the session, trading at 6.9920.
Read more at Reuters Africa
The rand was trading at 6.9190 versus the dollar at 1525 GMT, about 0.3 percent firmer than its New York close of 6.9450 on Monday. It briefly flirted with the key 7/dlr mark earlier in the session, trading at 6.9920.
Read more at Reuters Africa
Tribune Forced to Pay Higher Interest Rates on Loans for Buyout
(Bloomberg) -- Tribune Co., owner of the Chicago Tribune and Los Angeles Times, will have to pay higher interest rates than it initially proposed on $5.51 billion of loans to fund its buyout, three investors involved in the deal said.
Tribune may pay 3 percentage points over the London interbank offered rate on the seven-year term loan, said the investors, who declined to be identified because the terms aren't public. The media company sought on April 26 to pay Libor plus 2.5 percentage points.
Read more at Bloomberg Bonds News
Tribune may pay 3 percentage points over the London interbank offered rate on the seven-year term loan, said the investors, who declined to be identified because the terms aren't public. The media company sought on April 26 to pay Libor plus 2.5 percentage points.
Read more at Bloomberg Bonds News
Ford Motor Credit sets price talk on debt sale
(Reuters) - Citigroup Global Markets, JP Morgan and Lehman Brothers are joint lead managers on the sale.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Inflation still challenging -Fed's Minehan
(Reuters) - "All of these have occurred, yet the U.S. economy has performed in an extraordinarily smooth way, with GDP averaging 3 percent over that long period and unemployment down, at many times well below the level that was thought to be the harbinger of inflation when I joined the Federal Open Market Committee in 1994. Inflation itself, though certainly challenging at present, trending lower," she said.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Treasuries Little Changed as Consumer Prices Increase Less Than Forecast
(Bloomberg) -- U.S. Treasuries were little changed after a government report showed April consumer prices increased less than economists forecast.
Yields dipped for the first day in three on speculation that inflation pressures may have peaked, leaving the Federal Reserve room to hold rates steady. Fed policy makers held borrowing costs at 5 1/4 percent for the eighth time at a policy meeting last week, saying inflation remains the ``predominant'' economic risk.
Read more at Bloomberg Bonds News
Yields dipped for the first day in three on speculation that inflation pressures may have peaked, leaving the Federal Reserve room to hold rates steady. Fed policy makers held borrowing costs at 5 1/4 percent for the eighth time at a policy meeting last week, saying inflation remains the ``predominant'' economic risk.
Read more at Bloomberg Bonds News
European Union Scraps Import Duties From Ex-Colonies to Boost Economies
(Bloomberg) -- The European Union will scrap most of the remaining customs charges on imports from 78 former colonies in Africa, the Caribbean and Pacific in an effort to fuel the commodity-dependent economies.
The EU's trade arrangements with the group of developing countries expire on Jan. 1. Today's decision to increase access to the European market, backed by ministers meeting in Brussels, also ends limits on the volume of exports to the 27-nation bloc.
Read more at Bloomberg Emerging Markets News
The EU's trade arrangements with the group of developing countries expire on Jan. 1. Today's decision to increase access to the European market, backed by ministers meeting in Brussels, also ends limits on the volume of exports to the 27-nation bloc.
Read more at Bloomberg Emerging Markets News
Zimbabwe cancels bank's FX licence
(Reuters) - Zimbabwe's central bank on Tuesday cancelled the foreign currency dealership licence of a local bank saying it had illegally moved $4.8 million abroad.
NMB Bank Limited is one of the financial houses that remained after several locally-owned banks were closed in 2004 when the Reserve Bank of Zimbabwe (RBZ) launched a crackdown on errant institutions.
Read more at Reuters Africa
NMB Bank Limited is one of the financial houses that remained after several locally-owned banks were closed in 2004 when the Reserve Bank of Zimbabwe (RBZ) launched a crackdown on errant institutions.
Read more at Reuters Africa
Bank of America appeals frozen LaSalle sale
(Reuters) - "If we are successful in appealing to the Dutch court, we expect the parties to fulfil the contract," a spokesman for Bank of America said. "The Dutch statute does not require shareholder approval for the sale of LaSalle and we believe the Dutch statute protects the rights of a third party like Bank of America that acted in good faith."
ABN was not immediately available for comment.
Read more at Reuters.com Mergers News
ABN was not immediately available for comment.
Read more at Reuters.com Mergers News
Brazil's Currency Strengthens, Breaking Through 2 Reais-Per-Dollar Level
(Bloomberg) -- Brazil's real gained, breaking through the 2-per-dollar level for the first time in six years, as a surge in retail sales in March fueled expectations that Latin America's biggest economy is picking up.
The real jumped 0.6 percent to 1.9962 reais per dollar at 9:43 a.m. New York time after the government said that retail, supermarket and grocery store sales rose 11.5 percent in the month from a year ago.
Read more at Bloomberg Emerging Markets News
The real jumped 0.6 percent to 1.9962 reais per dollar at 9:43 a.m. New York time after the government said that retail, supermarket and grocery store sales rose 11.5 percent in the month from a year ago.
Read more at Bloomberg Emerging Markets News
Canadian Stocks May Drop as Yamana Profit Trails Forecast, Gold Declines
(Bloomberg) -- Canadian stocks may fall for a second day, led by commodity producers after Yamana Gold Inc. earnings fell short of analysts' estimates and bullion prices declined.
Losses in the market may be limited on speculation that a bidding war for LionOre Mining International Ltd. may continue after the nickel miner received a sweetened takeover bid from Xstrata Plc. Shares of Thomson Corp. may advance after it struck an agreement to buy Reuters Group Plc to create the biggest financial news and information company.
Read more at Bloomberg Stocks News
Losses in the market may be limited on speculation that a bidding war for LionOre Mining International Ltd. may continue after the nickel miner received a sweetened takeover bid from Xstrata Plc. Shares of Thomson Corp. may advance after it struck an agreement to buy Reuters Group Plc to create the biggest financial news and information company.
Read more at Bloomberg Stocks News
Ford Motor Credit to sell $1.5 bln notes in 2 parts
(Reuters) - The joint lead managers on the sale are Citigroup Global Markets, JP Morgan and Lehman Brothers.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Yahoo appoints Weisel co-founder as new CFO
(Reuters) - Jorgensen replaces Susan Decker, who was named in December to a new role as head of Yahoo's advertiser and publisher group, the company's main revenue generating businesses.
Decker remained as CFO while the company conducted a search to fill that position.
Read more at Reuters.com Business News
Decker remained as CFO while the company conducted a search to fill that position.
Read more at Reuters.com Business News
Ingersoll-Rand to explore sale or spinoff of units
(Reuters) - Another possible scenario would be to spin-off the businesses to the company's shareholders, Ingersoll said.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
US sees March long-term capital inflow of $67.6 bln
(Reuters) - Including short-term securities such as Treasury bills, foreigners bought a net $45 billion of U.S. securities in March, not enough to cover that month's $63.9 billion trade deficit and below the upwardly revised February net inflows of $101.5 billion.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
U.S. April Consumer Prices Rise 0.4 Percent; Core Rate Climbs 0.2 Percent
(Bloomberg) -- Prices paid by U.S. consumers rose less than forecast in April, suggesting inflation may be abating as the economy cools.
The consumer price index increased 0.4 percent after rising 0.6 percent in March, the Labor Department said today in Washington. Core prices, which exclude food and energy, were up 0.2 percent after a 0.1 percent gain.
Read more at Bloomberg Currencies News
The consumer price index increased 0.4 percent after rising 0.6 percent in March, the Labor Department said today in Washington. Core prices, which exclude food and energy, were up 0.2 percent after a 0.1 percent gain.
Read more at Bloomberg Currencies News
U.S. Stock-Index Futures Gain After Consumer-Price Index Trails Forecast
(Bloomberg) -- U.S. stock-index futures gained after consumer prices rose less than forecast, reinforcing the Federal Reserve's expectation that inflation will abate as the economy slows.
Standard & Poor's 500 Index futures expiring in June added 2.5 to 1511.2 as of 8:41 a.m. in New York. Dow Jones Industrial Average futures advanced 20 to 13,408. Nasdaq-100 Index futures climbed 2.25 to 1898.5.
Read more at Bloomberg Stocks News
Standard & Poor's 500 Index futures expiring in June added 2.5 to 1511.2 as of 8:41 a.m. in New York. Dow Jones Industrial Average futures advanced 20 to 13,408. Nasdaq-100 Index futures climbed 2.25 to 1898.5.
Read more at Bloomberg Stocks News
Sony May Post Biggest Loss in Four Years as PlayStation 3 Outsold by Wii
(Bloomberg) -- Sony Corp., the world's second-largest consumer electronics maker, may report its biggest quarterly loss in four years after the PlayStation 3 game console failed to spur as much demand as Nintendo Co.'s Wii player.
The net loss at Tokyo-based Sony may have widened to 75.8 billion yen ($630 million) in the fiscal fourth quarter ended March 31, from 66.5 billion yen a year earlier, according to the median estimate of 11 analysts surveyed by Bloomberg. Sales probably rose 9.5 percent to 2.02 trillion yen, the survey showed.
Read more at Bloomberg Exclusive News
The net loss at Tokyo-based Sony may have widened to 75.8 billion yen ($630 million) in the fiscal fourth quarter ended March 31, from 66.5 billion yen a year earlier, according to the median estimate of 11 analysts surveyed by Bloomberg. Sales probably rose 9.5 percent to 2.02 trillion yen, the survey showed.
Read more at Bloomberg Exclusive News
TREASURIES-Bonds flat ahead of April inflation data
(Reuters) - The Fed maintained in a statement last week that core inflation, which does not include volatile food and energy costs, remains "somewhat elevated", and that inflation still presents a greater risk than slower economic growth.
But there has been some evidence that inflation pressures are easing, including a flat reading last week on the core Producer Price Index for April. If inflation were to slow to a level the Fed finds comfortable, the central bank could move to cut benchmark interest rates to stimulate the economy.
Read more at Reuters.com Bonds News
But there has been some evidence that inflation pressures are easing, including a flat reading last week on the core Producer Price Index for April. If inflation were to slow to a level the Fed finds comfortable, the central bank could move to cut benchmark interest rates to stimulate the economy.
Read more at Reuters.com Bonds News
Advantage gathers funds to buy Tokyo Star -sources
(Reuters) - Advantage is leading the race to buy two-thirds of Tokyo Star from another fund, Dallas-based Lone Star [LS.UL], for about $1.6 billion.
Under Japanese law, the winner of the auction would have to make an offer for all the Tokyo-based regional lender's shares, valued on the stock market at about $2.4 billion.
Read more at Reuters.com Mergers News
Under Japanese law, the winner of the auction would have to make an offer for all the Tokyo-based regional lender's shares, valued on the stock market at about $2.4 billion.
Read more at Reuters.com Mergers News
China's Stock Index Falls Most in Month After Rally: World's Biggest Mover
(Bloomberg) -- China's stocks fell the most in a month as investors judged gains this year to be excessive relative to earnings growth potential. China Minsheng Banking Corp. and China Merchants Bank Co. led declined.
Consumer stocks including Inner Mongolia Yili Industrial Group Co. climbed after a government report showed the nation's retail sales increased last month. Bank of Communications Ltd., China's sixth largest, surged 71 percent on its debut in Shanghai.
Read more at Bloomberg Stocks News
Consumer stocks including Inner Mongolia Yili Industrial Group Co. climbed after a government report showed the nation's retail sales increased last month. Bank of Communications Ltd., China's sixth largest, surged 71 percent on its debut in Shanghai.
Read more at Bloomberg Stocks News
Home Depot profit falls on softer housing market
(Reuters) - Earnings declined by about one-third to $1 billion, or 53 cents a share, in the first quarter ended on April 29, from $1.5 billion, or 70 cents a share, a year earlier.
Analysts on average expected profit of 59 cents a share, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
Analysts on average expected profit of 59 cents a share, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
European Food Stocks, Nestle Decline; Reuters and Hanson Shares Advance
(Bloomberg) -- European food stocks declined after Deutsche Bank AG recommended reducing holdings in Nestle SA, Unilever NV and Groupe Danone, citing rising commodity prices. Benchmarks in the region were little changed.
Construction and media companies rose after Reuters Group Plc, the world's biggest publicly traded provider of financial data, and Hanson Plc, the No. 1 maker of sand and gravel for construction, agreed to be bought. Rio Tinto Group and Anglo American Plc led mining shares lower after copper prices fell to a five-week low in Shanghai.
Read more at Bloomberg Stocks News
Construction and media companies rose after Reuters Group Plc, the world's biggest publicly traded provider of financial data, and Hanson Plc, the No. 1 maker of sand and gravel for construction, agreed to be bought. Rio Tinto Group and Anglo American Plc led mining shares lower after copper prices fell to a five-week low in Shanghai.
Read more at Bloomberg Stocks News
Asian Currencies: Peso Rises on Overseas Remittances, Korean Won Retreats
(Bloomberg) -- The Philippine peso climbed to the highest since October 2000 as remittances from Filipinos working overseas increased.
The peso advanced 4.2 percent this year as funds sent home rose 26.4 percent in March from a year ago to $1.3 billion, exceeding $1 billion for an 11th month, according to central bank data. Filipinos yesterday voted in mid-term elections.
Read more at Bloomberg Currencies News
The peso advanced 4.2 percent this year as funds sent home rose 26.4 percent in March from a year ago to $1.3 billion, exceeding $1 billion for an 11th month, according to central bank data. Filipinos yesterday voted in mid-term elections.
Read more at Bloomberg Currencies News
Europe shares seesaw, inflation worries offset M&A
(Reuters) - European shares teetered either side of unchanged on Tuesday as concern about a possible flare-up in U.S. inflation data later offset gains stemming from a fresh wave of merger news.
At 0819 GMT, the FTSEurofirst 300 of top European shares was down 0.12 percent at 1,576.66 points, with French shares on the CAC 40 underperforming with a 0.4-percent fall.
Read more at Reuters Africa
At 0819 GMT, the FTSEurofirst 300 of top European shares was down 0.12 percent at 1,576.66 points, with French shares on the CAC 40 underperforming with a 0.4-percent fall.
Read more at Reuters Africa
Vattenfall Says Ringhals-2 Reactor in Sweden to Increase Output on May 18
(Bloomberg) -- Vattenfall AB, the Nordic region's biggest utility, said its Ringhals-2 nuclear reactor in Sweden would restart on May 18, two days earlier than expected.
The reactor's production was cut to 460 megawatts from 867 megawatts on May 4 because of a short-circuit in the starter part of the generator.
Read more at Bloomberg Energy News
The reactor's production was cut to 460 megawatts from 867 megawatts on May 4 because of a short-circuit in the starter part of the generator.
Read more at Bloomberg Energy News
Preem Says Crude Oil Leak Caused Refinery Fire; Damage Assessment Ongoing
(Bloomberg) -- Preem Petroleum AB, a Swedish refiner, said a fire at its Gothenburg refinery was caused by an oil leak in a unit when the plant was being started up after a maintenance shutdown.
Preem is assessing the damage caused, company spokesman Thomas Oegren said in a telephone interview today. It's too soon to say whether the incident will delay the start up of the unit beyond its planned May 25 date, he said.
Read more at Bloomberg Energy News
Preem is assessing the damage caused, company spokesman Thomas Oegren said in a telephone interview today. It's too soon to say whether the incident will delay the start up of the unit beyond its planned May 25 date, he said.
Read more at Bloomberg Energy News
GMAC plans 1.3 bln euro 3-part bond -banker
(Reuters) - The first two tranches will be issued by GMAC International Finance, while the third will be via GMAC Canada.
ABN AMRO, BNP Paribas and SG CIB are managing the sale.
Read more at Reuters.com Bonds News
ABN AMRO, BNP Paribas and SG CIB are managing the sale.
Read more at Reuters.com Bonds News
U.K. FTSE 100 Stocks Including Rio Tinto Drop; Hanson, Reuters Advance
(Bloomberg) -- U.K. stocks including Rio Tinto Group and Anglo American Plc fell. Shares of Enterprise Inns Plc, Hanson Plc and Reuters Group Plc climbed.
The benchmark FTSE 100 Index added 1.8, or less than 0.1 percent, to 6557.3 in London at 8:14 a.m. The FTSE All-Share Index was unchanged at 3405.95. Ireland's ISEQ Index rose 14.18 to 9588.30.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index added 1.8, or less than 0.1 percent, to 6557.3 in London at 8:14 a.m. The FTSE All-Share Index was unchanged at 3405.95. Ireland's ISEQ Index rose 14.18 to 9588.30.
Read more at Bloomberg Stocks News
European Two-Year Bond Yields Trade Near Five-Year High After German GDP
(Bloomberg) -- European two-year government bond yields traded near the highest in almost five years after a report showed Germany's economy expanded faster than expected in the first quarter.
The extra yield investors earn on 10-year U.S. Treasuries over similar maturity German bunds today shrank to the least since 2004 before reports today that are expected to show Europe grew at a faster pace than the U.S. in the first quarter.
Read more at Bloomberg Bonds News
The extra yield investors earn on 10-year U.S. Treasuries over similar maturity German bunds today shrank to the least since 2004 before reports today that are expected to show Europe grew at a faster pace than the U.S. in the first quarter.
Read more at Bloomberg Bonds News
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