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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Treasury bills

Treasury bills stories: 17 news summaries

MARKETS

 Dow Climbs 37 
 on Day 8 of Streak 

Eight-day winning stretch is first in 28 months

(Newser) - Stocks closed up today as the Dow continued its modest winning streak for an eighth day—the longest period of gains in 28 months—though trading volume remained light, the Wall Street Journal reports. An auction of 7-year Treasury notes saw decent demand. AIG shares rose 28.8% on reports... More »

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(Newser) - The Federal Reserve has slowed its recovery-minded plan to purchase Treasury securities but said that "economic activity is leveling out," the Wall Street Journal reports. The Fed’s policy committee hopes to complete its $300 billion purchase of Treasury securities by October—originally slated for September—and... More »

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$134B Bond Fraud May Be Mob Handiwork

US, Italian authorities blame organized crime for huge counterfeiting

(Newser) - The counterfeit bonds with a face value of $134 billion seized near the Swiss border are probably the work of the Mafia, say Italian and American secret services. The mystery surrounding the suitcase stuffed with fake US Treasury bonds deepened yesterday, after a blog revealed that police had released the... More »

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OPINION

$134B Suitcase Could Be Huge Smuggling Scam

Italy arrests men with enough US bonds to buy a few countries

(Newser) - Last week, Italian authorities detained two Japanese men attempting to cross the border into Switzerland carrying a suitcase stuffed with $134 billion in US bonds. The men are either massive counterfeiters or—even scarier—the fourth-largest creditors of the US Treasury, with enough cash to buy three or four countries.... More »

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Ben Bernanke Italy Switzerland debt bonds US dollar counterfeiters Treasury bills Timothy Geithner smuggling Treasury note

MARKETS
(Newser) - A Treasury note bump and continued skittishness about the US economy sent stocks down today, the Wall Street Journal reports. “Yesterday, everyone was happy about the consumer,” one strategist said. “Now people are wondering about the flip side: What happens if consumption gets out of hand?” The... More »

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OPINION

China's Trouble: Lots of Dollars, Little Sense

Krugman: Beijing knows it's in trouble, remains tied to old ills

(Newser) - China’s recent call for an alternative to the dollar as a reserve currency underlines how much trouble the country is in after years of stockpiling greenbacks, Paul Krugman writes in the New York Times. The Chinese, long unwilling to let the yuan float freely on foreign exchanges, are signaling... More »

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MARKETS

 Dow Wavers, Finishes Up 90 

Poor Treasury auction saps some investor confidence

(Newser) - Stocks wavered today, with the indices posting gains but off session highs, the Wall Street Journal reports. A rise in durable-goods orders stoked an early rally, but enthusiasm was tempered by weak demand for US Treasuries in an auction. The Dow dipped into losses in the afternoon, but closed up... More »

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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... More »

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 Fed to Spend $1T on 
 Mortgage, Treasury Securities 

Latest intervention hopes to lower lending costs

(Newser) - The Fed plans buy up to $300 billion in long-term Treasury securities in an attempt to make lending more affordable, the Wall Street Journal reports. The massive buy is intended to push down interest rates on consumer loans and corporate bonds, which are linked to yields T-bills. The Fed will... More »

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Geithner: China 'Manipulating'
Its Currency

Strong charge could
roil relations at a delicate time

(Newser) - Tim Geithner today accused China of "manipulating" its currency, a volatile charge in the diplomatic world that is certain to anger Beijing and possibly prompt it to sell some of its massive reserves of US dollars, the New York Times reports. The Treasury nominee made the accusation in a... More »

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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%.... More »

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Jittery About Loss, Investors Stuff Cash In 0% T-Bills

Willing to take nothing for their money

(Newser) - The results of yesterday’s short-term bond auction were staggering. Investors snapped up $30 billion worth of Treasuries at a 0% yield—essentially lending the government money for free, the New York Times reports. Earlier, some investors even accepted a negative yield to park their cash in three-month Treasury bills.... More »

Fed Looks to Raise Cash
With Its Own Debt Issue

Economy's dive prompts central bank to get more creative with financing programs

(Newser) - The Federal Reserve’s balance sheet has more than doubled to $2 trillion since August as it’s financed new programs and bailed out ailing businesses, prompting the central bank to weigh issuing its own debt for the first time, reports the Wall Street Journal. The Fed, looking for... More »

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MARKETS

 Dow Down 242 on Auto Doubts 

Uncertainty over bailout details gives rally a flat tire

(Newser) - Yesterday’s gains in the market, buoyed by the probable Detroit bailout, slipped away today as details remained uncertain, the Wall Street Journal reports. Though investors are still optimistic about the president-elect’s infrastructure initiative’s impact on raw goods and energy, that sector couldn’t carry the market. The... More »

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MARKET Open

Stocks Take Modest Bounce 

Dow up after disastrous session

(Newser) - Stocks headed north this morning, after a grisly Monday that saw the Dow fall 7.7% and the S&P 500 drop 8.9%. Things looked less traumatic today, as the Dow rose a modest 68 points at the open, accompanied by 1.2% and 1.4% rises in the... More »

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ANALYSIS

 Key Indicator Points 
 to a Long Slump 

Yield curve predicts slow recovery in developed economies as credit remains tight

(Newser) - A little known—but closely followed—indicator that contrasts the differences in yield between 2- and a 10-year government securities suggests the economic downturn in the developed world is likely to hang around a lot longer, reports the Wall Street Journal. Yield curves generally are narrow when the economy is... More »

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ANALYSIS

 Tax Hikes Loom as 
 Deficit Nears $1T 

Blue or red, next president may need to boost revenues with increase

(Newser) - The bailout and other government spending are adding on to an already-enormous US budget deficit, and the next president might well have to raise taxes, no matter who it is, the Christian Science Monitor reports. This fiscal year will put the US down nearly $1 trillion, one nonpartisan group estimates,... More »

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17 Stories