U.S. government bond yields reversed an early climb and closed lower Thursday, with investors weighing persistent worries about the economic outlook against a better-than-expected monthly jobs report. The yield on the 10- year Treasury note, a key benchmark for borrowing costs on everything from mortgages to student loans, climbed above 0.71% in the wake of Thursday morning's data, according to Tradeweb. But it then retraced the move, settling at 0.670%, compared with 0.682% on...
U.S. government-bond yields climbed Thursday after data showed the economy added more jobs than expected last month, a sign of rebounding growth in the wake of pandemic shutdowns. The yield on the 10- year U.S. Treasury note, a key benchmark for borrowing costs on everything from mortgages to student loans, rose to a recent 0.704%, according to Tradeweb, from around 0.679% earlier in the session.
The recent surge in Covid-19 cases has brought more bad news for a municipal bond market already reeling from the impact of coast-to-coast shutdowns and record unemployment. Virgin Islands Water and Power Authority narrowly avoided default. The utility got a badly needed reprieve when Chicago-based Nuveen LLC agreed to accept a $34 million payment due Wednesday on Aug. 31 instead.
Worry about a second wave of Covid-19 cases is pushing junk bond yields to their highest levels in a month, causing the risky debt to underperform other credit markets. Prices of junk debt were mixed Wednesday despite gains in U.S. stocks, according to data from MarketAxess. Health- care bellwether HCA Healthcare Inc.' s bond due 2047 climbed about 2% to 125 cents on the dollar, while casino operator Eldorado Resorts Inc.' s new seven-year bond fell about 1% to 96 cents on the dollar.
Fed Chairman Says Economy Faces New Challenges From Coronavirus. Federal Reserve Chairman Jerome Powell is set to tell lawmakers Tuesday that the reopening of the U.S. economy-and the accompanying upturn in spending and hiring this spring-came sooner than central bank officials expected. Stocks on Track to End Second Quarter Up Sharply.
This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal. Lawmakers and businesses are pushing the U.S. government to offer debt relief to hundreds of small hotel owners who borrowed with the help of bond markets. But the biggest beneficiaries of any assistance could be large real-estate owners affiliated with properties that owe troubled hotel debt, according to an analysis...
U.S. government yields clung near recent lows even as stock markets rebounded Monday. The yield on the benchmark 10- year U.S. Treasury note closed at 0.636%, according to Tradeweb.
U.S. government yields clung near recent lows even as stock markets rebounded Monday. The yield on the benchmark 10- year U.S. Treasury note traded around 0.641%, according to Tradeweb.
The Federal Reserve formally opened Monday its $500 billion lending program to support issuance of new debt by large corporations, the last of nine emergency programs it is running to backstop lending markets due to the coronavirus pandemic. The Fed began purchasing earlier this month individual bonds of large companies that were highly rated as of March 22, but it hadn't yet said when it would initiate a companion effort to purchase newly issued securities by those...
Lawmakers and businesses are pushing the U.S. government to offer debt relief to hundreds of small hotel owners who borrowed with the help of bond markets. But the biggest beneficiaries of any assistance could be large real estate owners affiliated with properties that owe troubled hotel debt, according to an analysis by hotel union Unite Here International, which analyzed public filings and data from research firm Trepp LLC as of June 16.. The hotel owner with the most money in...
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