Thursday, May 26, 2016 - 17:01 Thursday's Top Stories in the United States 0
* Rather than "one step forward, two steps back," the profit-taking seen Thursday in financial market instruments during U.S. hours did not erase the steady risk-on progress made in recent sessions. U.S. Treasury yields and the dollar, along with U.S. stocks and oil prices, were off the best levels of the week, but remained well up from the worst levels seen earlier in May. Although oil slipped back under the $50 mark that drew so much attention in the morning, it was not far below by day's end. Ahead of the long Memorial Day holiday in the U.S. and an eventful first week of June, it would not be a surprise to see further profit-taking and paring back of positions, traders said. The U.S. bond market will see a 2:00 p.m. ET close Friday for cash bonds...
Thursday, May 26, 2016 - 14:19 Analysis: Puerto Rico Aid Bill Now a Matter of Deadlines 0
By Denny Gulino
WASHINGTON (MNI) - Now that Republican and Democratic House leaders have demonstrated they can get many of their party's skeptics to hold their nose and vote for the restructuring and oversight bill for Puerto Rico, the question becomes how high are the barriers that still lie ahead.
Certainly the first hurdle is passage in the House of Representatives. All of the enemies of the Puerto Rico bill are set to repeat the arguments against it that they tried out Wednesday to no avail in the Natural Resources Committee.
But the extremely rare bipartisanship in sending H.R.
Thursday, May 26, 2016 - 12:16 US House Speaker Ryan: GOP Will Regroup On Spending Strategy 0
--House Speaker: Dems 'Sabotaging' Appropriations Bills
--Ryan: 'We Want To Pass Individual Bills'
WASHINGTON (MNI) - House Speaker Paul Ryan said Thursday that House Republicans will reassess their approach to the fiscal year 2017 appropriations process in the wake of the overwhelming defeat of the second spending bill of the year.
At a briefing, Ryan accused House Democrats for "sabotaging the appropriations process" by voting for amendments to the FY 2017 Energy and Water bill and then voting against the final bill.
The House Thursday rejected the Energy and Water spending bill on a 112 to 305 vote....
Wednesday, May 25, 2016 - 16:41 Wednesday's Top Stories in the United States 0
* This week, global investors have become more upbeat about world growth prospects, with the trend of risk friendly demand seen again Wednesday. U.S. stocks posted solid gains and crude prices rose to new seven-month highs. Other instruments saw more tempered moves and continued to trade in well-established ranges. The S&P 500 closed up 0.70% Wednesday at 2,090.54, after trading in a 2,078.93 to 2,094.73 range. The S&P gains were dwarfed by those seen in European stocks, where the French CAC 40 closed up 1.13% at 4,481.64 and the German DAX closed up 1.47% at 10,205.21. NYMEX July light sweet crude oil futures settled up $0.94 at $49.56 per barrel. In fixed income, 10-year U.S. Treasury yields were last at 1.873%, after trading in a 1.849% to 1...
Wednesday, May 25, 2016 - 15:05 Puerto Rico Bill Survives US Congressional Enemy Attacks 0
By Denny Gulino
WASHINGTON (MNI) - Congressional enemies of the Puerto Rico restructuring and oversight legislation, saying they are defending the primacy of general obligation municipal bonds, Wednesday found themselves defeated again and again by other Republicans who successfully kept the measure alive to be voted on by the full House.
House Natural Resources Committee Chairman Rob Bishop found himself voting against fellow Republicans intent on crippling the bill, even on some amendments with which he found merit, so the bill could make it out of his committee to the next step.
The tense second day of the committee's work on the bill, which ended with a 29-10 vote to send it to the House, saw the Puerto Rico delegate...
Wednesday, May 25, 2016 - 14:11 US House Speaker Ryan: House In 'Pretty Good Shape' on PR Bill 0
--House Speaker: Bill 'Protects Markets From Contagion'
--Speaker Ryan: GOP To Unveil Tax Reform Paper In June
--Ryan: Would Take 'Decades' To Pay Down National Debt
WASHINGTON (MNI) - House Speaker Paul Ryan said Wednesday he's confident there is solid support in the House for legislation to ease the economic and financial crisis in Puerto Rico.
Speaking to reporters in his conference room, Ryan said the bill drafted by the House Natural Resources Committee has strong bipartisan support.
"I think we're in pretty good shape," on the Puerto Rico bill, Ryan said.