Tag: Government Finance
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Treasury yields fall after soft European data
[ad_1] Bond yields fell on Monday after weak economic data from Europe and as traders await central bank policy decisions this week. What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.824% slipped by 2.1 basis points to 4.837%. Yields move in the opposite direction to prices. The yield on the 10-year Treasury TMUBMUSD10Y, 3.800%…
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Elderly couple ripped off by daughter takes a tax hit on the stolen $2 million
[ad_1] A federal judge has blocked a more than $400,000 income tax refund claimed by elderly fraud victims, saying he regrets there’s nothing he can do by law but side with the IRS. The story of Dennis and Suzanne Gomas shows the limits of the tax code’s help for crime victims — especially now, the…
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China keeps benchmark lending rates unchanged
[ad_1] China’s benchmark lending rates were kept unchanged, as expected on Thursday, following a hold of policy rates earlier this month. However, economists say Beijing will need to ramp up support to shore up the country’s sputtering economy. The one-year loan prime rate was held steady at 3.55%, while the five-year LPR was unchanged at…
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PNC’s stock slides 3% premarket after its outlook disappoints and revenue falls short of estimates
[ad_1] PNC Financial Services Group Inc.’s stock fell 3% in premarket trading Tuesday, after the regional bank missed its second-quarter revenue target. Pittsburgh-based PNC PNC, +0.07% said net income for the three months ending June 30 rose to $1.5 billion, or $3.36 a share, compared with $1.496 billion, or $3.39 a share, in the year-earlier…
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IRS collects $38 million from ‘delinquent millionaires’
[ad_1] The Internal Revenue Service is starting to put more heat on high-earning tax scofflaws, months into upgrades to the tax agency’s enforcement and operations. The IRS has resolved approximately 175 tax-delinquency cases against millionaires in the past few months, and it has raked in $38 million in back taxes, Commissioner Danny Werfel said late…
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U.S. budget deficit widens to $227.8 billion in June
[ad_1] The numbers: The U.S. federal budget deficit widened sharply to $227.76 billion in June, up from $88.8 billion in the same month last year, the Treasury Department said Thursday. For the first nine months of the fiscal year, the deficit was $1.39 trillion, up from $515.1 billion in the same period last year. Key details:…
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Treasury yields fall further after cooling inflation data
[ad_1] Bond yields continued to decline Thursday as traders adjusted positions following news U.S. inflation is at its lowest in more than two years. What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.653% slipped 8.8 basis points to 4.662%. Yields move in the opposite direction to prices. The yield on the 10-year Treasury TMUBMUSD10Y,…
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U.S. stock futures fall following ADP payrolls data as Treasury yields surge
[ad_1] U.S. stock-index futures fell early Thursday after the ADP data on private payrolls reported the largest increase since July 2022. The yield on the 10-year Treasury note broke above 4% after the data while the yield on the 2-year note reached its highest level since 2006. How are stock-index futures trading Stocks fell Wednesday……
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Opinion: Debt-ceiling deal has put the U.S. on course for an fiscal trainwreck
[ad_1] The agreement that President Joe Biden and House Speaker Kevin McCarthy reached recently to suspend the U.S. debt ceiling until 2025 avoided immediate turmoil in financial markets but does little to avert the crisis that may be brewing due to huge federal deficits. The deal cuts the 2024 deficit by $64.5 billion and offers plans to save…
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Treasury yields mildly mixed ahead of holiday break
[ad_1] Benchmark Treasury yields were little changed on Monday, with trading thin ahead of a holiday break and jobs data at the end of the week. What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.954% rose by 4.6 basis points to 4.942%. Yields move in the opposite direction to prices. The yield on the…