Former Federal Reserve chairman Ben Bernanke is joining bond giant Pimco as a senior adviser, as the firm seeks to bolster its star power following the departure of co-founder Bill Gross.
Treasuries rose for the first time in three days as yields at the highest levels in more than a week lured investors after the Federal Reserve said it’s on track to raise interest rates next year.
The Dow Jones Industrial Average capped the worst week since 2011, finishing with a 100-point lurch in the final half-hour of trading, as equities tumbled around the world after crude extended declines below $58 a barrel.
Pacific Investment Management Co. shrugged off talk of a haircut to become this year’s biggest buyer of debt issued by Austria’s failed lender, Hypo Alpe-Adria-Bank International AG.
European Central Bank policy makers said governments must accelerate plans to strengthen their economies or risk derailing the region’s recovery.
BlackRock Inc.’s Chief Executive Officer Laurence D. Fink said the firm is attracting new money from clients in October.
Treasuries rose for a fourth week, with 10-year yields dropping the most in three months, as investors awaited signals on the probable timing of Federal Reserve interest-rate increases in policy-maker speeches today.
Goldman Sachs Asset Management and Pacific Investment Management Co. say Treasuries are poised to fall as the Federal Reserve approaches the end of its bond- buying stimulus program.
Janet Yellen looks to be taking one page out of Alan Greenspan’s playbook while tearing up another as she plots monetary strategy for 2015 and beyond.
Treasuries fell on speculation that the exit of Bill Gross from Pacific Investment Management Co. may promp the world’s biggest manager of bond funds to shift away from U.S. government debt.