Hedge funds will likely become increasingly important buyers of U.S. Treasuries, providing liquidity in the world's biggest bond market at a time of rising investor concerns over supply-demand dynamics, several market participants said on Thursday. Hedge funds' short positions in some Treasuries futures, contracts for the purchase and sale of bonds for future delivery, have recently hit record highs due to their involvement in so-called basis trades, which take advantage of the premium of futures contracts over the price of the underlying bonds. The trade, which contributed to severe disruptions in the Treasuries market when it was unwound rapidly in March 2020, has recently drawn attention from economists at the Federal Reserve as well as from the Bank for International Settlements.
A panel of external advisors to the U.S. Food and Drug Administration voted against Intarcia Therapeutics' diabetes treatment implant on Thursday, citing risks from potential side-effects. The committee unanimously held that the benefits of the drug-device combination for the treatment of type 2 diabetes did not outweigh its risks, pointing to the need for additional safety data. The decision comes on the back of two previous rejections by the health regulator owing to the drug's potential acute kidney injury (AKI) and cardiovascular risks.
JPMorgan on Friday said it will include India in its widely tracked emerging market debt index, setting the stage for billions of dollars of inflows into the world's fifth-largest economy. India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds according to JPMorgan.
WASHINGTON (AP) — With House Speaker Kevin McCarthy's latest funding plan in ruins and lawmakers leaving town for the weekend, there's no endgame in sight as hard-right Republicans push dangerously closer to a disruptive federal shutdown. The White House will tell federal agencies on Friday to prepare for a shutdown, according to an official with the Office of Management and Budget who insisted on anonymity to discuss the upcoming instructions. That's standard seven days out from a federal disru
SACRAMENTO, Calif. (AP) — A new plan from California's insurance commissioner aims to stop the nation's top insurers from leaving the wildfire-prone state by letting them consider climate risks when setting their prices. Unlike most states, California tightly restricts how insurance companies can price policies. Companies aren't allowed to factor in current or future risks when deciding how much to charge for an insurance policy. Instead, they can only consider what's happened in the past on a p
MADISON, Wis. (AP) — A group of Republican Wisconsin lawmakers on Thursday proposed impeaching the battleground state's top elections official as Democrats wage a legal battle to keep the nonpartisan administrator in office. Democrats say the GOP-controlled state Senate acted illegitimately when it voted along party lines last week to oust Wisconsin Elections Commission Administrator Meagan Wolfe. In a lawsuit challenging the vote, Democratic Attorney General Josh Kaul accused Republicans of att
The soap opera actor died on Sept. 15 at age 43, following a "valiant" struggle with "bipolar depression," according to his mother
Newly launched federal office under vice president Kamala Harris will respond to epidemic killing tens of thousands of Americans each year, Alex Woodward reports
Monarch describes partnership between two nations as ‘utterly vital’ to confronting challenges of Russia’s invasion of Ukraine and climate crisis
Sir Keir Starmer wants to give the official fiscal watchdog the power to publish forecasts independently.
Residents are say the ongoing project is disruptive.
MONTGOMERY, Ala. (AP) — The U.S. Supreme Court is expected to soon rule on Alabama's request to let it keep new GOP-drawn congressional lines in place as it fights a three-judge panel’s plan to create a second majority-Black district, or something close to it, in the Deep South state. The state attorney general and lawyers representing Black voters who challenged the map gave different interpretations in court fillings this week of whether Alabama blatantly defied justices' June decision in the
Activist investor Donerail Group, which owns shares in Stratasys, on Thursday said it will vote down the company's plan to buy Desktop Metal next week, the latest twist in a years-long drama over consolidation of the 3D printing industry. Donerail Group's managing partner William Wyatt, who cemented his activist investment skills at Starboard Value, made his firm's voting plan public one day after influential proxy advisory firm Institutional Shareholder Services on Wednesday urged shareholders to reject the deal on Sept. 28. He also said his firm would prefer a proposed plan by 3D Systems to buy Stratasys and criticized the Stratasys board for rejecting that proposal.
STORY: As Ukraine's military counteroffensive grinds on and Congress stages a bitter debate over spending ahead of a possible government shutdown, a growing chorus of Republicans have questioned the billions of dollars Washington has sent Kyiv for military, economic and humanitarian needs.The U.S. has sent some $113 billion in security and humanitarian aid to help Zelenskiy's government since Russia invaded in February 2022.
MIAMI GARDENS, Fla. (AP) — The unbeaten Dolphins will bring one of the NFL's most explosive offenses and an improving defense into their matchup with the winless Broncos. But Miami defensive tackle Christian Wilkins knows better than to underestimate Denver and Russell Wilson. The veteran quarterback has overcome each of his two previous 0-2 starts — both with Seattle — to make the playoffs. “His resume speaks for itself and the things he’s been able to do in this league," Wilkins said. “He pres
Fantasy football analyst Antonio Losada offers a full breakdown for tonight's matchup between the Giants and 49ers.
The Bank of Japan is expected to keep policy unchanged on Friday but will likely consider if tweaks to ultra-loose monetary settings need to be made as bond yields rise and inflationary pressures persist. Markets are focusing on comments from Governor Kazuo Ueda's briefing, to be held after the bank's two-day policy meeting, for clues on how soon the bank could phase out the massive stimulus programme of his predecessor. All economists surveyed in a Reuters poll expect the central bank to maintain its short-term interest rate target of -0.1% and that for the 10-year bond yield around 0%.
Irish actors Mescal and Scott play lovers in Andrew Haigh’s new romance
DALLAS COWBOYS (2-0) at ARIZONA CARDINALS (0-2) Sunday, 4:25 p.m. EDT, Fox BETTING LINE: Cowboys by 12 1/2, according to FanDuel Sportsbook AGAINST THE SPREAD: Dallas 2-0; Arizona 2-0. SERIES RECORD: Dallas leads 56-34-1. LAST MEETING: Cardinals beat Cowboys 25-22 on Jan. 2, 2022, in Arlington, Texas. LAST WEEK: Cowboys beat Jets 30-10; Cardinals lost to Giants 31-28. COWBOYS OFFENSE: OVERALL (18), RUSH (8), PASS (20), SCORING (1) COWBOYS DEFENSE: OVERALL (1), RUSH (9), PASS (1), SCORING (1) CAR
President Joe Biden ordered federal agencies to continue holding Norfolk Southern accountable for its February derailment in eastern Ohio and appoint a FEMA official to oversee East Palestine's recovery, but he still stopped short of declaring a disaster. Biden issued the executive order Wednesday evening. Part of the order essentially directed the environmental, health and transportation officials to continue doing what they are doing to make sure Norfolk Southern fulfills its responsibilities