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U.S. Treasury yields were little changed on Monday as investor attention turned to the Federal Reserve meeting and interest rate decision slated for later in the week.At 4:45 a.m. ET, the yield on the 10-year Treasury was down by less than one basis point to 4.312%. The 2-year Treasury yield was last more than one basis point lower at 3.824%.Yields and prices move in opposite directions. One basis point equals 0.01%.Markets are looking ahead to the Federal Reserve’s interest rate decision on Wednesday. According to CME Group’s FedWatch tool, traders were last pricing in an over 98% chance of rates…
US policy uncertainty has rippled through rate-setting meetings across the world, as central bankers try to work out what a global trade war means for monetary policy. Stagflation fears are rising on the back of Donald Trump’s tariffs. And threats to central bank independence abound. Economics commentator Chris Giles, writer of the Central Banks newsletter, will join the FT’s Monetary Policy Radar reporters Elettra Ardissino, Joel Suss and Andrew Whiffin for a live Q&A on Wednesday May 7 at 10am ET/3pm BST.To take part, leave your questions in the comments section below this story. You can also endorse queries you…
Stay informed with free updatesSimply sign up to the Foreign exchange myFT Digest — delivered directly to your inbox.Taiwan’s currency has recorded its largest two-day jump in decades, as life insurers moved to hedge their exposed US portfolios and markets fretted that a trade deal with Donald Trump might include the exchange rate.Extending its gains when trading opened on Monday, the New Taiwan dollar rose another 2.5 per cent against the greenback, taking its two-day gain to 6.5 per cent. Its total rise since the start of April is almost 10 per cent.The sudden currency movement in Taiwan shows how…
LONDON (AP) — Thousands of people lined the roads around the Houses of Parliament and Buckingham Palace on Monday as British and allied troops paraded past at the start of four days of pageantry to mark the 80th anniversary of the end of World War II in Europe.After Big Ben tolled at the stroke of noon, actor Timothy Spall recited the victory speech that Winston Churchill delivered to a roaring crowd in central London on May 8, 1945. Britain started its commemorations of V-E Day three days early, because Monday is a public holiday in the U.K.The Cenotaph, the nation’s…
The offshore yuan strengthened and broke past the 7.2 level against the US dollar for the first time since November, signalling an optimistic shift in market sentiment as hopes of a trade war thaw and fresh demand grows for Chinese assets.The recent renminbi gain was largely driven by expectations that the US and China will soon begin negotiating, said Xu Tianchen, senior China economist at the Economist Intelligence Unit, adding that a working-level engagement may have already started, or was about to start.“We can reasonably expect the two countries to dial down some of their tariffs against each other, as…
The offshore yuan strengthened and broke past the 7.2 level against the US dollar for the first time since November, signalling an optimistic shift in market sentiment as hopes of a trade war thaw and fresh demand grows for Chinese assets.The recent renminbi gain was largely driven by expectations that the US and China will soon begin negotiating, said Xu Tianchen, senior China economist at the Economist Intelligence Unit, adding that a working-level engagement may have already started, or was about to start.“We can reasonably expect the two countries to dial down some of their tariffs against each other, as…
Saudi Arabia, Russia and six other members of the oil cartel announced over the weekend an output increase of 411 000 barrels a day for June, a month after a similar move had already caused prices to fall.(Getty Images/1715d1db_3) Oil prices slumped on Monday after OPEC+ countries announced a sharp production increase despite oversupply concerns and growing fears that US President Donald Trump’s trade war could weaken demand.Saudi Arabia, Russia and six other members of the oil cartel announced over the weekend an output increase of 411 000 barrels a day for June, a month after a similar move…
Bitcoin rose on Friday on track for the second daily profit in a row, trading near three-month highs and about to mark the fourth weekly profit in a row on strong crypto momentum. The currency is targeting the coveted $100,000 once more as US company MicroStrategy raised its bitcoin holdings to a new record high, and with strong cash inflow into bitcoin exchange funds in the US, boosting liquidity. The Price Bitcoin rose 0.8% at Bitstamp today to $97,306, with a session-low at $96,399. On Thursday, bitcoin rose 2.5%, the first profit in three days, hitting…
Two Chinese scientists believe their country’s earliest star catalogue – an astronomical list of celestial bodies known as “Shi’s Star Catalogue” – is the world’s oldest star log, dating back some 2,400 years.Citing new evidence in a study published on April 4 in the peer-reviewed astronomy journal Research in Astronomy and Astrophysics, researchers Zhao Yongheng and He Boliang from the National Astronomical Observatories, under the Chinese Academy of Sciences, said that Shi’s Star Catalogue was created around 335BC.That would make the stellar accounts, also known as the Star Manual of Master Shi, the oldest known human records of the stars,…
PARIS (AP) — The European Union launched a drive on Monday to attract scientists and researchers to Europe with offers of grants and new policy plans, after the Trump administration froze U.S. government funding linked to diversity, equity and inclusion initiatives.“A few years ago, no one would have imagined that one of the biggest democracies in the world would cancel research programs under the pretext that the word diversity was in this program,” French President Emmanuel Macron said at the “Choose Europe for Science” event in Paris.“No one would have thought that one of the biggest democracies in the world…