U.S. Treasury Department

The U.S. Treasury just concluded its Treasury auction, selling $35 billion in 5 year Treasuries. Rick Santelli gave it a B- grade. The auction ended with a 1.029% yield, which compares favorably to the 1.03 W/I prior to the end of the auction. The bid to cover on the auction was 2.71, compared...

S&P last night came out with a report that it could downgrade U.S. debt even if the debt ceiling is raised. S&P basically came out and said Congress needs to cut $4 trillion from the budget over the next 10 years, or a downgrade is likely. S&P and the other rating agencies are doing...

At 4:40 p.m., President Obama is going to deliver remarks on deficit reduction talks. If the U.S. is not able to reach an agreement on cutting its deficit and raising the debt ceiling, then the U.S. risks losing its "AAA" rating and may default on its debt. U.S. Treasury Secretary Tim Geithner...

A report from Bloomberg just crossed that has sent shock-waves across Wall Street and one, quite frankly, no one expected, at least right now. U.S. Treasury Secretary Tim Geithner is said to be leaving the Treasury after the deal on the U.S. budget is done. No word on who would replace him, but...

Rick Santelli just gave the recently completed U.S. Treasury auction a "D," as the auction had horrible metrics. The U.S. Treasury sold $35 billion worth of 5 year debt, and the yield on the auction was 1.615%, far higher than the 1.585% yield right before the auction. The bid to cover on the...

According to the Treasury Department, China added to its U.S. Treasury holdings in April, after having five straight months of declines. The Treasury said the world's most populous nation raised its holding of U.S. debt by $7.6 billion to $1.15 trillion. Overall, total foreign holders of U.S....

The U.S. Treasury has just announced the long-term TIC flows for April. It came in at $30.6 billion, versus estimates of $35 billion. April total net TIC Flows came in at $68.2 billion. Equity futures are lower with Dow futures off 120 points, S&P 500 futures are off 13.5 points, and NASDAQ...

Tomorrow, June 15, is a big day in terms of economic reports and the markets will be watching and waiting with every breath as the economy appears to be weakening. At 7:00 a.m., the MBA mortgage index is going to be released for the week ending June 10. At 8:30 a.m., May CPI will be released. It...

The U.S. Treasury just concluded its auction of 30 year U.S. Treasury debt, selling $13 billion in Treasuries. The auction was a little disappointing, as the bid to cover and the yield were weaker than expected. The bid to cover on this auction was 2.63, compared to a 2.65 10 auction average for...

Raj Rajaratnam was found guilty yesterday of insider trading on companies like AMD (NYSE: AMD). Rajaratnam was convicted on all 14 counts of securities fraud and conspiracy against him. According to sources close to the situation, the $9 billion American International Group (NYSE: AIG) stock sale...

The unbalanced trade relationship between China and the U.S. has recently come to the forefront of political discourse. In a two day meeting earlier this week, officials from the two economic superpowers met to discuss potential changes to the trade arrangement. The results of the meeting were...

This morning, AIG (NYSE: AIG) and the U.S. Treasury announced that they would be going ahead with the "re-IPO" of AIG, and sell a combined 300 million shares of the embattled insurer back to the public. With AIG's share slide since the beginning of the year, is a $9 billion offering in the best...

Treasury Secretary Timothy Geithner has made the decision to allow companies who trade certain currency contracts to prvent from wild swings to continue to do so without supervision. The law, Dodd-Frank, allows Geithner to allow certain strategies to be exempt from oversight. Businesses argue...

The U.S. Treasury just finished a 5-year $35 billion auction, and Rick Santelli gave it a C+ grade, as it was an average auction, nothing spectacular about it. The yield on the auction was 2.124%, and it has a bid to cover of 2.77, while the 10 auction average is 2.80, so this auction is just...

The U.S. Treasury just concluded its auction of 2 year debt, and Rick Santelli gave it a "C+" grade. $35 billion in debt was sold, and it had a yield of 0.673%, which was good, but the bid to cover was very weak. It came in at 3.06, while the 10 auction average was 3.42. Indirect bidders...