Political theater clouds US debt ceiling vote (AFP)
AFP – US lawmakers Tuesday hold a certain-to-fail vote on raising the government’s borrowing limit, revealing political posturing on a issue the White House warns could have “calamitous” economic consequences. View full post on All Stories
Treasury Yields Approach This Year’s Low on Europe Debt Concern
Treasury yields approached the lowest level this year on speculation Europe’s debt crisis is getting worse and the U.S. economy is weakening. View full post on All Stories
Senate Republicans enter debt debate
They’ve spotted their best chance to dive into the debt fight now that the Gang of Six is on its last lifeline. View full post on All Stories
Europe’s debt crisis to hit mortgage rates
Europe’s debt problems may be on the other side of the world, but Australian mortgage holders are very much in the firing line. Analysts say the increasing cost of funding for the banks will mean higher interest rates for home owners. It’s another headache for consumers already under pressure from rising rents and higher utilities [...]
The U.S. Debt Default Chaos Makes Banks Look Vulnerable (The Motley Fool)
The Motley Fool – Just when the sluggish economy had started to show some encouraging signs, the news of the U.S. hitting the debt ceiling of $14.29 trillion reared its head. There have been several debates on whether to raise the ceiling. But now the only way out seems to be a hike in the [...]
European Central Bank rules out Greek debt restructuring
Vittorio Hernandez – AHN News Lagonissi, Greece (AHN) – The European Central Bank rejected on Wednesday a proposal to restructure Greece’s debt. ECB Executive Board Member Juergen Stark said a Greek debt restructuring would only create a catastrophe because the move would damage the banking system. Lorenzo Bini Smaghi, another ECB board member, said the [...]
Beyond the debt ceiling barrier
On Monday, the U.S. government technically breached the debt ceiling, breaking through the $14.2 trillion barrier. On Tuesday, economic chaos somehow failed to materialize. The bond market evinced utter calm, even boredom, at the news (in fact, the yield on a 10-year Treasury bond fell to its lowest mark since last December, which is the [...]
Government Debt Ceiling Limit Reached
The U.S. debt hit its ceiling today, but Treasury Secretary Timothy Geithner said the Treasury Department will take “extraordinary measures” to ensure the U.S. does not default on its loans. In a letter he wrote to Congress, he said he can prolong “lawful borrowing” until August 2nd. But Geithner warned Congress against not acting to [...]
China Reduces U.S. Treasury Holdings as Debt Ceiling Debated
China, the biggest foreign owner of U.S. government debt, trimmed its holdings of Treasuries for a fifth straight month in March as lawmakers debate how to expand borrowing after reaching a statutory threshold. View full post on All Stories
Boehner agrees Washington must raise debt limit
Vittorio Hernandez – AHN News Washington, D.C., United States (AHN) – U.S. House Speaker John Boehner acknowledged on Monday that Washington needs to raise its debt limit. He made the admission on a radio interview on the day that the U.S. federal government reached its $14.3 trillion debt limit. Boehner said Congress, at some point, [...]
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