Central banking
10-year Treasury yield holds at 3%; benchmark German bund yield hits 1%
The 10-year U.S. Treasury yield hovered at the 3% mark on Tuesday morning, while the 10-year German bund hit 1% for the first time since 2015, amid expectations around interest rate hikes. The yield on the benchmark U.S. 10-year Treasury note rose less than a basis point to 3.0045% at 4:15 a.m. ET. The yield […]
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Australia hikes its interest rate for the first time in more than a decade
Australia’s consumer price index jumped 2.1% for the first quarter in 2022, with prices of food, petrol and other consumer goods all surging. Ian Waldie | Bloomberg | Getty Images Australia hiked its interest rate for the first time in more than a decade, a widely expected move as consumer prices surge. Its central bank […]
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10-year Treasury yield tops 3% for first time since 2018
U.S. Treasury yields continued their push higher on Monday, with the 10-year Treasury yield capturing a new milestone in its rapid climb in 2022. The yield on the benchmark 10-year Treasury note rose about 11 basis points to 2.994%, and hit a high of 3.01% during the session. The yield on the 30-year Treasury bond […]
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Russia attempts last-ditch dollar bond payments to try to avert historic default
Russia faces renewed threat of debt default on May 4, according to major ratings agencies, as the grace period comes to a close after it attempted to service its dollar bond payments in Russian rubles. Mikhail Tereshchenko | Sputnik | via Reuters Russia’s Finance Ministry said Friday that it had attempted overdue dollar payments on […]
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Russia cuts key interest rate to 14%, says inflation could hit 23% this year
Russia’s President Vladimir Putin (L) and Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky\TASS via Getty Images However, with the ruble now returning to pre-war levels, policymakers are turning their attention to recalibrating the economy in an effort to absorb the impact of punitive sanctions from international powers. “The external environment for the Russian economy […]
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Euro zone inflation hits record high for the sixth month in a row
Inflation in the euro zone remains well-above the ECB’s target, as energy and food prices soar. Bloomberg | Bloomberg | Getty Images Inflation in the euro zone has hit a record high for the sixth consecutive month, sparking further questions over how the European Central Bank will react. Headline inflation in the 19-member region reached […]
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The Bank of Japan may have limited tools to deal with the weak yen, but that’s not its focus
The Bank of Japan may be limited in its ability to deal with recent weakness in the yen, but experts who spoke with CNBC noted the currency is not really the central bank’s main focus anyway. The Japanese yen went above 130 against the dollar on Thursday after the BOJ reiterated its ultra-easy monetary policy […]
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ECB dove says rate hike may come during the third quarter
European Central Bank Governing Council member Ignazio Visco has added his voice to heated discussions on when the ECB will begin to raise its benchmark interest rate. Rates in the euro zone have been negative following the region’s sovereign debt crisis, and the ECB has confirmed that it will conclude its net asset purchases in […]
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Senate confirms Lael Brainard as Fed vice chair
U.S. Federal Reserve board member Lael Brainard speaks after she was nominated by U.S. President Joe Biden to serve as vice chair of the Federal Reserve, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, U.S., November 22, 2021. Kevin Lamarque | Reuters The U.S. Senate on Tuesday confirmed […]
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Central banks need to put rates into the ‘pain zone’ — but the Fed won’t do it, fund manager says
LONDON — Overcoming doggedly high inflation requires interest rates to be pushed into the “pain zone.” But whether any central bank has the nerve to do it is the question, according to investment manager Man Group. “To actually fight inflation will require a central bank to show that they’re willing to put rates into the […]
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