'Phase 4' coronavirus stimulus bill: The proposals under serious consideration

Kudlow: New coronavirus stimulus package is ‘large scale’ National Economic Council Director Larry Kudlow on the additional coronavirus stimulus package, June jobs number and U.S.-China trade. As some states throughout the U.S. combat a surge in confirmed coronavirus cases, lawmakers still have not reached an agreement on whether to pass another stimulus bill. Continue Reading Below Senate Majority Leader Mitch […]

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UPDATE 1-Don't call it a fee waiver: Vanguard shifts money fund expenses

(Recasts, adds further Vanguard comment, Federated Hermes comment, byline) By Ross Kerber BOSTON, July 7 (Reuters) – Vanguard Group Inc reallocated expenses on a $1.9 billion municipal money market fund, a spokesman said, a move akin to the fee waivers that rivals have granted. Because of Vanguard’s client-owned structure it cannot simply waive fees and cover them, the industry’s traditional […]

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UPDATE 1-Atlantia must accept govt conditions to avoid licence revocation – Italy PM

(Adds context and details) ROME, July 7 (Reuters) – Italy’s government has told infrastructure group Atlantia what it must do to retain its toll-road licence, the prime minister said on Tuesday, as government officials said these included a reduced stake in its motorway unit. Rome has been threatening to revoke the business licence of Atlantia’s motorway unit Autostrade per l’Italia […]

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MORNING BID-Shanghai surprise

(A look at the day ahead from EMEA deputy markets editor Sujata Rao. The views expressed are her own.) After big recent rallies, it’s quite a disappointing performance from Chinese markets today – gains have fizzled to less than 1%. This month’s 14% leap has led to suspicions of a state-orchestrated buying binge that enables President Xi Jinping to show […]

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Japan household spending slumps as curbs hit travel, dining out

TOKYO (REUTERS) – Japan’s household spending fell at the fastest pace on record in May as consumers heeded the authorities’ calls to stay home to contain the coronavirus pandemic, pushing the world’s third-largest economy deeper into decline. The large spending drop will add to growing pressure on policymakers to ramp up moves to restore confidence among businesses and in particular […]

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UPDATE 1-Net short dollar positions fall in latest week -CFTC, Reuters

(Adds details, context, table) By Kate Duguid NEW YORK, July 6 (Reuters) – Speculators decreased their net short dollar positions in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Monday. The value of the net short dollar position fell to $13.91 billion in the week ended June 30, compared with a […]

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TREASURIES-Yields higher as investors factor in auctions

By Ross Kerber BOSTON, July 6 (Reuters) – U.S. Treasury yields were higher on Monday as investors priced in auctions this week that will increase the supply of the low-risk debt. The benchmark 10-year yield was up 3 basis points in morning trading at 0.7006%. Treasury auctions including one for $29 billion of 10-year notes set for Wednesday will increase […]

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UPDATE 1-Italian bond yields fall as markets pin hopes on economic recovery

* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Recasts lead, updates prices, adds comment) By Dhara Ranasinghe LONDON, July 6 (Reuters) – Italy led a fall in southern European bond yields on Monday, supported by expectations for hefty central bank stimulus and hopes that the world economy will bounce back quickly from the COVID-19 shock. Global stock markets rallied to […]

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