Dollar Tumbles as Fed Buys Treasuries and Mortgage Debt
The dollar plummeted on news yesterday afternoon that the US Federal Reserve would buy up to $300 billion in US Treasuries and would start buying mortgage bonds in a move that could add up to $1.15 trillion to the Fed’s balance sheet. More
US New Jobless Claims at 646,000
New jobless claims for US workers fell to 646,000 last week – down from 658,000 the week before but still continuing a string of eight straight weeks of job losses. More
UK Deficit Grows to Nearly £75bn
The UK deficit surged to £8.99bn ($12.6 billion USD) for the month of February bringing the total deficit for the year to £75.2bn ($105.4 billion USD). More
House Prepares to Vote on Bill to Tax Bonuses
In an unprecedented move that will surely send a strong signal to all firms receiving government bail-outs, the House of Representatives will vote on a bill that taxes “excessive” bonuses at a 90% tax rate. The proposed law would apply to any company receiving more than $5 bn in support money, and to any employee of that company that earns more than $250,000 including bonuses. More
