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Fed Moves Street; Dow Up 91
 Fed Moves Street; Dow Up 91 
MARKETS

Fed Moves Street; Dow Up 91

Plan to buy Treasuries, mortgage-backed securities stirs stocks

(Newser) - Stocks slumped today until the announcement of the Federal Reserve’s plans to buy billions in Treasuries and mortgage-backed securities, which caused a minor rally in equities, the Wall Street Journal reports. Treasury prices surged and yields plummeted. The Dow gained 90.88 to close at 7,486.58. The...

Next Bubble May Be in Treasuries
Next Bubble May Be
in Treasuries
ANALYSIS

Next Bubble May Be in Treasuries

But the rest of the bond market is attractively priced

(Newser) - As the credit and stock markets collapsed, investors rushed to Treasuries as the safest possible bet. But the rush to safety could be fueling a bubble, writes Andrew Bary for Barrons. Yields have been plummeting, with 10-year notes at 2.4% and three-month bills selling last week for 0.05%....

Cash-Squeezed States Warn of Collapsing Infrastructure

Fed stimulus eyed as municipal bonds wither

(Newser) - Thousands of infrastructure projects across the country are on hold as states wrestle with budget crises, the New York Times reports. Gov. Arnold Schwarzenegger warned yesterday that California was “on a track toward disaster" as school, bridge, and road construction projects ceased, the victims of the credit squeeze and...

Judge Says Detroit Mayor Can See Sis
Judge Says Detroit Mayor Can See Sis

Judge Says Detroit Mayor Can See Sis

Kilpatrick ducks another night in jail as court rejects violation

(Newser) - Detroit Mayor Kwame Kilpatrick dodged another visit to jail this morning when a judge ruled that his weekend contact with his sister was not a violation of the terms of his bond, even though she was present at the incident that got him into trouble in the first place. The...

$10M Bond Allows Guru to Leave US
$10M Bond Allows Guru
to Leave US

$10M Bond Allows Guru to Leave US

'Swami Ji' follower puts up cash after sex charges in Texas

(Newser) - A Hindu guru charged with groping two underage girls will be permitted to leave the country, despite 20 counts of indecency, after a follower put up $10 million to guarantee his return. Given how much money's involved, the arrangement to allow Prakashanand Saraswati—known as Swami Ji—passage to India...

Investors Urge Reluctant Fed to Buy Mortgage Debt

Critics say plan would put too much risk on taxpayers

(Newser) - The best way for the Fed to help reverse the sagging economy is for it to buy some of the $6 trillion in outstanding mortgage-backed securities that have Wall Street so nervous, investors say. The move would ease the credit crunch but put taxpayers at risk. It’s an option...

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