Fed Chief Powell: Economy at a Turning Point
U.S. gets boost from vaccines, stimulus, but risks remain.
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Apr 11, 2021
Federal Reserve Chairman Jerome Powell said Sunday that the U.S. economy is at a turning point, as vaccines and stimulus roll out and more Americans land jobs but that the nation isn t out of the woods yet. I would say this. What we re seeing now is really an economy that seems to be at an inflection point, said Powell in a preview Sunday of the 60 Minutes show he will appear in at 7 p.m. ET on CBS. An excerpt of the interview appeared on Face the Nation and
Bond Yields Slide After Solid Start to Auction Week; Inflation Eases
The bond market faces a key test this week as the Treasury plans $120 billion in new auctions amid the steepest rise in yield in at least eight years.
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Mar 9, 2021
U.S. Treasury yields tumbled Tuesday following the first of three key test for the bond market this week as the government plans for the sale of $120 billion in new debt.
The Treasury sold $58 billion in 3-year notes at an auction-high yield of 0.335%, with foreign demand falling just below average at 47.8%. Overall demand for the new paper, however, was solid, with bidders seeking $2.69 for every $1 on offer from the government, the highest since June of 2018. A crucial auction of $38 billion in 10-year notes follows Wednesday with a $24 billion sale of 30-year bonds wrapping up the weekly fund period on Thursday.
American Air Reportedly Set to Issue $10 Billion of Debt
American Airlines is set to issue $10 billion of debt, a media report says. Bond yields in the offering may range 5.75% to 6%.
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American Airlines (
AAL) - Get Report shares rose after a report said the carrier was issuing $10 billion of debt, using its loyalty-miles program as collateral
The move would be the biggest-ever borrowing by an airline, Bloomberg News reports.
American Air shares recently traded at $21.72, up 0.6%. On Wednesday they have traded up as much as 4.1% at $22.48, nearing their 52-week high of $22.80, set early last June.
They have soared 71% over the past six months as investors grow increasingly optimistic that the economy will recover from the pandemic and travel opportunities will open up.