1/LITMUS TEST
FILE PHOTO: A trader works as a screen shows Federal Reserve Chairman Jerome Powell s news conference after the U.S. Federal Reserve interest rates announcement on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 31, 2019. REUTERS/Brendan McDermid
As a mini-tantrum raged on bond markets on Feb. 25, the U.S. Treasury auctioned $62 billion in seven-year notes. But investors, it would appear, forgot to show up. The lowest bid-cover ratio of 2.04 on record sent 10-year Treasury yields rocketing to a one-year high above 1.61%.
The Fed signalling it is not perturbed by rising yields has markets fretting again. Scheduled 10-year and 30-year Treasury bond sales on Wednesday and Thursday will be what TD Securities dubs a “litmus test for potential market dysfunction”.
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LONDON (Reuters) - Prime Minister Boris Johnson is plotting a staged exit from lockdown that would see the United Kingdom’s battered economy returning to work over the next five months after leaping ahead of most of the world on vaccinating its people.
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The novel coronavirus, which emerged in China in late 2019, has killed 2.4 million people worldwide, upended normal life for billions and tipped the United Kingdom into its worst slump in 300 years.
After moving faster than all other Western peers bar Israel to vaccinate its population, the United Kingdom’s $3 trillion economy is aiming to be among the first major Western economies to return to some semblance of normality - though still far behind the furnaces of global growth in China.
As a mini-tantrum raged on bond markets on Feb. 25, the U.S. Treasury auctioned $62 billion in seven-year notes. But investors, it would appear, forgot to show up. The lowest bid-cover ratio of 2.04 on record sent 10-year Treasury yields rocketing to a one-year high above.
Genting Malaysia Bhd has invested over $800 million in its new theme park, Genting SkyWorlds, targeted for opening in the second quarter of this year, the company said in a virtual briefing on Tuesday.
By Reuters Staff
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(Reuters) - Casual dining chain Ruby said on Wednesday it had emerged from bankruptcy, nearly five months after it filed for Chapter 11 protection as restrictions due to the COVID-19 pandemic halted dine-in operations.
The restaurant chain, known for its classic American burgers and steaks, said the bankruptcy allowed it to shed liabilities, including leases from closed locations that were impacted by the health crisis and focus on 209 company-owned locations.
“Ruby Tuesday is a healthier company now and is positioned to be more efficient, competitive and stable for the future,” Chief Executive Officer Shawn Lederman said.