U.S. Government

  • 2016-05-02 15:39


    --Sens. Warner, Perdue Urge Bipartisan Budget Compromises
    --Sen. Warner: Parties Must Drop Fiscal 'Talking Points'
    --Sen. Perdue: 'We're In A Full Blown Crisis'

    LOS ANGELES (MNI) - Two members of the Senate Budget Committee, Democrat Mark Warner of Virginia and Republican David Perdue of Georgia, said Monday the U.S.'s fiscal outlook is more dire than most Americans realize, and the two parties need to negotiate reasonable compromises on entitlement and tax reform.

    In remarks on a panel on U.S.

  • 2016-05-02 15:00


    WASHINGTON (MNI) - The U.S. Treasury Monday estimated it will paydown $65 billion of net marketable debt in the second quarter of 2016, assuming a $350 billion cash balance on June 30.

    Previously, the Treasury estimated it would paydown $112 billion in the quarter, with a $350 billion cash balance at the end of June.

    "The increase in borrowing is due primarily to lower receipts and higher outlays, partially offset by higher net issuances of State and Local Government Series securities," Treasury said.

    In the first quarter of 2016, Treasury borrowed $244 billion, while the end-of-quarter cash balance was $314 billion. Treasury had previously estimated it would borrow $250 billion in the first quarter, assuming a $320 billion cash balance on March 31.

  • 2016-04-29 16:56


    * In the week ahead, the expectation for good April economic data and supply from the May Treasury refunding announcement might conflict with month-end duration needs as the Treasury market continues to see "as needed" flows that set a range for yields, fixed income market sources said. Analysts at BNP wrote, "We believe the rise in bond yields has probably already gone far enough. Thus we recommend selective duration longs: specifically, we recommend long US 10-years." Technical analysts at JP Morgan said post-FOMC the 10-year note rebound "stalled near last week's 1.80% breakdown, which marks key short-term resistance. Despite that, technicals remain very mixed ... .

  • 2016-04-28 19:08


    WASHINGTON (MNI) - The following is a "readout" from the Treasury Department of Secretary Jack Lew's telephone conversation Thursday with Greek Prime Minister Alexis Tsipras:

    Secretary Lew and Prime Minister Tsipras discussed the importance of Greece, the IMF, and European institutions constructively working together to conclude the first review of Greece's economic reform program and find a sustainable path forward in a timely manner.

  • 2016-04-28 16:56


    * Those who worry central banks are doing too much found out Thursday what happens when one of them does nothing. Disappointment in the Bank of Japan's decision to keep monetary policy steady Thursday led to a sharply lower dollar-yen and a hefty decline in Japanese stocks, with spillover effects for other world financial markets. In the U.S., BOJ disappointment translated into softer U.S. stocks, with the biggest Dow drop in more than two months, and heightened demand for U.S. Treasuries. In turn, lower U.S. Treasury yields, along with fears about a new leg lower in dollar-yen, weighed on the dollar across the board. Friday marks the start of the Golden Week holiday in Japan, with financial markets closed April 29 and May 3-5.

  • 2016-04-28 16:02


    --Updating 13:20 ET Story; Quotes, Updating Yen Rates, AmChamChina White Paper
    --USTR: 'Rampant Piracy' Of Intellectual Property Still Seen in China

    WASHINGTON (MNI) - No one expects the Treasury Department to blast China for any exchange rate irregularities in its semiannual report due any day now, but another arm of the government, the U.S. Trade Representative Office, hasn't held back its criticism.

    The Treasury report to Congress on International Economic and Exchange Rate Policies was due April 15 and should appear on a late afternoon as soon as late this week.

  • 2016-04-28 13:20


    --USTR: 'Rampant Piracy' Of Intellectual Property Still Seen in China

    WASHINGTON (MNI) - No one expects the Treasury Department to blast China for any exchange rate irregularities in its semiannual report due any day now, but another arm of the government, the U.S. Trade Representative Office, hasn't held back its criticism.

    The Treasury report to Congress on International Economic and Exchange Rate Policies was due April 15 and should appear on a late afternoon as soon as late this week.

  • 2016-04-28 12:19


    --Speaker Ryan: 'Good Faith' PR Talks Continue
    --Rep Ryan: Need To 'Bring Order' to PR 'Chaos'
    --Rep Ryan: GDP Report Shows 'Next To Nothing' Growth

    WASHINGTON (MNI) - U.S.

  • 2016-04-27 17:12


    * The Federal Reserve's policymaking Federal Open Market Committee left short-term interest rates unchanged Wednesday as expected, but gently modified its policy statement in a way that could begin the process of preparing financial markets for another modest rate hike in coming months. The FOMC, which started raising the federal funds rate from near zero in mid-December, left the funds rate in a 25 to 50 basis point target range, on a 9-1 vote, as Kansas City Federal Reserve Bank President Esther George dissented in favor of an immediate rate hike for the second straight meeting.

  • 2016-04-27 15:58


    --White House's CEA Chair Urges Need in Order to Spur Economic Growth

    WASHINGTON (MNI) - Comprehensive reform on immigration and business taxes, along with dramatic increases to infrastructure investment, are the keys to near-term economic growth, White House Council of Economic Advisors Chairman Jason Furman said in a broad discussion Wednesday.

    Of the three, immigration reform, namely a path to citizenship for undocumented workers, would make the largest positive impact on GDP, Furman said at an event sponsored by The Atlantic Magazine.

    "It helps offset one of the biggest challenges we face economically, which is our demographic headwinds, but it also increases productivity and innovation, not just by bringing in high-skilled people, though that