Foreign investors cut appetite for Treasurys as U.S. set to flog record level of debt As traders and analysts debate over who will harbor enough appetite to snap up $250 billion of debt sales this week, one group of investors has steadily retreated into the shadows — foreign bond-buyers.
With the Federal Reserve halting its asset purchases several months ago, it’s unclear who will take up its place to soak up the deluge of issuance without demanding dramatically higher yields. An increase to spending caps and Republican tax cuts have escalated the Treasury Department’s borrowing needs, with some estimating more than $1 trillion of net issuance this year.
See: Facing prospect of higher deficit, U.S. Treasury to boost short-term borrowing
Read: Bond market braces for $ 1 trillion tsunami of Treasurys this year
Against that backdrop of increased supply, the diminished presence of a key bulwark to the bond market is troubling.
“We expect that any increase in [foreign central bank] dem..
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Justice Department creates cybersecurity task force to fight election interference WASHINGTON — The Justice Department on Tuesday unveiled a new cybersecurity task force aimed in part at combating threats to the integrity of U.S. elections, as bipartisan pressure mounts in Washington for stronger countermeasures to deter future Russian and other foreign-backed campaigns targeting the vote.
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KFC says ‘the colonel is working on’ supply issues in the U.K. ‘The chicken crossed the road, just not to our restaurants … ’ That’s KFC lightheartedly explaining to U.K. customers its constrained poultry supply there.
According to a Guardian report, the Yum Brands YUM, -0.22% unit expects to be impacted by the supply issue through the week. More than 400 locations were closed Tuesday, according to the report.
The trade union GMB reportedly told that Guardian that it warned KFC late last year that it would face distribution problems if it switched to DHL from food-shipping specialist Bidvest Logistics BDVSF, +8.26% . An officer of the union reportedly said he’d cited a similar decision made six years ago that led to supply problems in warning against a repeat.
“The colonel is working on it,” KFC tweeted:
The Colonel is working on it. pic.twitter.com/VvvnDLvlyq
— KFC UK & Ireland (@KFC_UKI) February 17, 2018
Software update aims to lower costs and transaction speeds in bitcoin market In an attempt to tackle expensive bitcoin transaction fees and slow processing times, two leading cryptocurrency exchanges, Coinbase and Bitfinex, announced Tuesday they have rolled out a software update that they hope will address mounting concerns.
The update, called Segregated Witness (SegWit), is a soft-fork software update that alters the transaction process of the cryptocurrency bitcoin BTCUSD, +5.86% by increasing block-size limits, alleviating “block bloat.”
“New exchanges like Bitfinex and Coinbase integrating SegWit is great news for bitcoin,” Alex Sunnarborg, founding partner of Tetras Capital said.
“The most noticeable changes in the short term should be more efficiency when transacting — a user can expect to see decreased transaction fees and improved speed (as a result of being able to fit more SegWit transactions in bitcoin blocks due to the separation of ‘witness’ data),” he said.