Treasury prices rose on Monday, pulling yields down for a sixth event in seven, as a miss of vital information and low trade volumes gave traders small provender forward of Federal Reserve Chairman Ben Bernanke’s debate during a Fed shelter on Friday.
Category: Banking, Finance, and Global Economic News
JPMorgan Chase & Co.’s Douglas Braunstein was grilled by U.S. senators after saying he couldn’t remember how Chief Executive Officer Jamie Dimon reacted when the bank resumed sending reports to a regulator.
Democrat Carl Levin of Michigan, the head of the Permanent Subcommittee on Investigations, asked about Dimon’s reaction after a panel report yesterday saying the CEO told executives last year to stop sending the investment bank’s daily results to the Office of the Comptroller of the Currency. Dimon believed “it was too much information,” the report said, citing an interview with an OCC examiner.
The dollar held near a 3-1/2-year high against the yen and was little changed against the euro on Monday after last week’s stronger-than-expected U.S. jobs growth fueled speculation the Federal Reserve could back off its ultra-loose monetary policy sooner than anticipated.
The euro slipped against the dollar Monday as caution ahead of a round of monetary policy meetings this week pushed the currency to its lowest level against the greenback in over two months.
The euro traded at $1.3019, down from $1.3066 late Friday.
Major stock indexes bobbed between losses and gains Monday afternoon before ending the day higher, as uncertainty about the outcome of a budget battle in Washington pushed most world stock markets lower.
The Dow Jones industrial average is at 14,127.82, within 40 points of an all-time record of 14,164.53 and its second-highest finish ever. It gained 38 points, or 0.3%, on Monday.
Gaining 0.45% and 0.4% respectively were the S&P 500 and the Nasdaq composite.
Chinese shares dived because of government moves to cool high housing prices.
Asian bonds fell a fifth day, with the informal benchmark index headed for a longest losing
streak in dual months, as mercantile reports from a U.S. to China and Australia stoked regard tellurian expansion is slowing.
The bank’s Monetary Policy Committee kept rates during 0.5 percent and did not boost a asset-buying program, value £375 billion, or $598 billion. The program, famous as quantitative easing, aims to boost a income supply to inspire spending and borrowing.
In July, a bank announced an additional £50 billion of item purchases that is still underneath way, and some analysts design a serve enlargement in November.
Good morning. Here’s what you need to know. Asian markets were mixed in overnight trading with the Nikkei down 0.57 percent, falling to a two-week low. Europe is selling off, and U.S. futures are flat.
Yields on 10-year records , that pierce inversely to prices, fell 4 basement points to 1.65%. They haven’t sealed next that turn given Aug. 13, according to FactSet. A basement indicate is one one-hundredth of a commission point.
Shanghai fell to a fresh multi-year low, while losses for Samsung Electronics curb gains in South Korea. Japan sees modest gains.
GLOBAL MARKETS: European Stocks, Euro Drop; Greece, FOMC in FocusWall Street JournalEuropean stocks slid and the euro pulled back against the dollar Wednesday as investors consolidated recent gains, while upcoming meetings between Greece’s prime minister…
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