US to Auction $40 Billion in New Notes
For the first time in three days, two-year treasury notes fell on fears that as the government prepares to sell $40 billion in new notes, supply will outstrip demand for US government debt. More
Dollar Falls as Fed Dismisses Rate Increase
The dollar fell against the euro on signs that the Federal Reserve is not considering a rate increase in the near-term as the US economy continues to struggle. More
UK Mortgage Approvals on the Rise
A total of 31,162 mortgage applications were approved in the UK for the month of May. This is a 13-month high that is also a 15.8 percent increase over May 2008 and suggests that consumers are prepared to get back into the housing market. One downside note however, is the fact that the average value for each application fell by 13.9 percent from last year to £133,600 ($219,519). More
European Stocks Open Lower
Stocks opened lower in Europe today in a continuation of yesterday’s sell-off. By late morning trading, London’s FTSE 100 index was down 1.49 percent to 4,281.27, the CAC 40 in Paris lost 1.55 percent to 3,171.44, and Germany’s DAX 30 was down 1.40 percent to 4,771.60. More
