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LONDON (Reuters) - More governments are selling bonds that mature in 30, 50 and even 100 years’ time, capitalising on rock-bottom borrowing costs and a willingness among investors to look past risks for the sake of slightly higher yields.
After Germany’s state of North Rhine Westphalia (NRW) raised 2 billion euros on Jan. 5 via a 100-year issue, France said on Monday it would soon sell a 50-year bond, its first new debt at that maturity since 2016.
A brisk start that has also seen Mexico and Indonesia sell 50-year bonds could mean issuance volumes approach levels seen in 2016, when euro zone governments sold a record 19 billion euros of bonds with maturities of 30 years and over.
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Janet Yellen, President-elect Joe Biden's pick to take over the U.S. Treasury, is expected to affirm the United States' commitment to market-set currency rates when she testifies on Capitol Hill on Tuesday, the Wall Street Journal reported.
Janet Yellen, President-elect Joe Biden's pick to take over the U.S. Treasury, is expected to affirm the United States' commitment to market-set currency rates when she testifies on Capitol Hill on Tuesday, the Wall Street Journal reported.
Updated Jan 15, 2021 | 08:52 IST
The Dow fell 68.95 points or 0.22% while the S&P was down 14.30% or 0.38%. The Nasdaq was down 16.31 points or 0.12% and Dow Futures fell 80 points, or nearly 0.1% Biden proposes $1.9 tn rescue plan; US Fed says no rate hikes for now | Photo Credit: AP
US President-elect Joe Biden unveiled a $1.9 trillion stimulus package called the ‘American rescue plan’. Federal unemployment payments was increased to $400 per week and extended through September with direct payments $1,400 to many Americans. The federal moratoriums on evictions and foreclosures were extended through September. The plan calls for $350 billion in aid to state and local governments. It also allocates $70 billion for Covid testing and vaccination programs and raised the federal minimum wage to $15 per hour.