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...Macpherson, permanent secretary at the Treasury from 2005-2016, noted that a stronger economy might not help Sunak in the short term because the Bank of England may have to keep interest rates higher for...
...This means that if a bank lends cash to a hedge fund in exchange for temporary ownership of a Treasury bond, and the value of the bond decreases just as the hedge fund defaults on the trade, the bank loses...
...The Treasury, the BoE and the OBR declined to comment....
...A $39bn auction of 10-year Treasuries has been caught up in the broad bond sell-off that followed Wednesday’s US inflation numbers, leaving big banks to mop up almost a quarter of the bonds on offer....
...The choice by chancellor Jeremy Hunt extends a trend of former Treasury officials gaining top jobs at the BoE, a phenomenon that lawmakers have questioned as they seek to ensure the bank’s independence....
...Thierry Wizman, global interest rates and currencies strategist at Macquarie Group, said Fed chair Jay Powell “sounded very dovish” following the central bank’s March rate decision “and yet the dovishness...
...This is quid pro quo for the Bank passing the Treasury large dollops of cash over the last several years, and the Bank pursuing what it judged to be the best monetary policy for the overall economy....
...Donald Trump’s former US Treasury secretary had made a fortune rehabilitating a failed US mortgage lender after the 2008 financial crisis....
...Wall Street equities started a busy week of central bank decisions on the front foot, even as US Treasury yields hit their highest level so far this month....
...The Bank of England and HM Treasury have responded to a public consultation that brings the UK potentially closer to creating a digital pound, a new form of digital money designed for everyday business and...
...US Treasuries rallied after Federal Reserve governor Christopher Waller said he would like the central bank to increase its holdings of shorter-dated bonds....
...Kate Duguid So banks were really the main players in the Treasury market before 2008? And they’ve taken a big step back since then....
...They’re not actually allowed to fail, because primary dealers — a club of big banks — provide a backstop....
...The US has announced sanctions against an individual and two organisations accused of targeting Palestinians in the West Bank....
...The US Treasury department will place two affiliates of the Russia-based ransomware group LockBit under sanctions, citing the hack of the financial services arm of China’s largest bank, ICBC, as part of...
...Commercial banks could also become a net buyer of Treasuries this year....
...Big investors are selling US Treasuries and buying European government bonds, betting that cooler inflation in Europe will allow its central bank to start cutting interest rates sooner than the Federal Reserve...
...The Treasury on Thursday outlined a series of measures that it said would address issues raised in March “in a way that does not impose additional upfront financial costs for banks”....
...Because investors, central banks and foreign governments around the world all hold Treasury bonds, problems in that market quickly ripple out....
...But betting against bond markets became an increasingly dangerous game in the wake of the 2008 global financial crisis, as central banks including the Federal Reserve bought up vast quantities of their own...
...The committee’s concerns relate to ensuring that the Treasury is not paying over the odds in interest costs, which could happen for instance if bond-dealing banks were colluding to distort the market....
...Yet its invisible hand is now depleting the Treasury coffers to boost commercial bank profits....
...Such firms have become central players in a market once dominated by banks, as regulations brought in after the global financial crisis made it costlier for mainstream lenders to trade Treasuries....
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