Japan Yields Slip, Casting Doubts on 10-Year Bond Auction Demand
The 5-year yield dropped as much as 9 basis points to 0.99% and the 10-year rate was down 8.5 basis points to a low of 1.465%. The moves come after US Treasuries surged on Friday as a surprisingly soft payroll report saw traders ramp up their bets on Federal Reserve interest-rate cuts this year.
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Yahoo
a few seconds ago
- Yahoo
Rachel Reeves under pressure to ‘urgently rule out' tax hikes
The Conservatives are urging Chancellor Rachel Reeves to "urgently rule out" increasing share taxes in the upcoming autumn budget, following the leak of a memo from Angela Rayner suggesting a series of tax hikes. The Tories argue that leaving investors "in limbo" could harm the economy. The party claims that scrapping the £500 dividend allowance would pull an estimated 5.22 million more individuals into paying investment levies. This pressure on ministers comes after a document, reportedly sent by the Deputy Prime Minister to Ms Reeves, was leaked to the press. In the memo, Ms Rayner proposed removing the dividend allowance to generate approximately £325 million annually, as well as axing inheritance tax relief for AIM shares and increasing dividend tax rates, according to The Telegraph. Shadow chancellor Mel Stride commented: 'The Government need to urgently rule out these tax hikes on savers and investors before speculation causes further economic harm. 'Labour don't understand how business works and how to create growth. More taxes on investment, entrepreneurship and saving are the last thing our economy needs right now.' The Government's U-turns over welfare reform and winter fuel payments have left the Chancellor with a multibillion-pound black hole to fill, fuelling speculation that she will seek to raise revenue through tax hikes. The Tories claimed axing the dividend allowance would drag 'an estimated 5.22 million more people into paying dividend tax'. This figure appears to be based on an assumption that at least 8.82 million people in the UK hold shares that pay dividends. Some 3.6 million are already subject to dividend tax, according to data obtained by investment platform AJ Bell through a Freedom of Information request. The Chancellor last year said she would not be 'coming back with more borrowing or more taxes' after her first budget but has since refused to rule out raising specific levies, saying it would be 'irresponsible' to do so. A Labour Party spokesperson said: 'The Conservatives have some brass neck. They've still not apologised for the damage caused by the Liz Truss mini-Budget, nor the £22 billion black hole they left – which hammered firms and families across the country. 'Labour is doing more to support business than the Tories ever could. 'We've already delivered three historic trade deals and four interest rate cuts – to reduce costs and put money back in people's pockets.'
Washington Post
3 minutes ago
- Washington Post
In his own words: Trump's comments over the past year on the jobs report
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Associated Press
3 minutes ago
- Associated Press
In his own words: Trump's comments over the past year on the jobs report
WASHINGTON (AP) — In firing the head of the agency that produces monthly jobs figures, President Donald Trump alleged that the recent weaker-than-expected numbers were phony and that positive numbers reported before the 2024 election were manipulated to make him look bad. It's a familiar cadence Trump has adopted in reacting to jobs reports: He treats the figures as legitimate when they are favorable to him and fraudulent when they are less than stellar or seem to benefit his opponent. A look at some of Trump's observations on jobs reports over the past year: Aug. 5, 2024 'STOCK MARKETS ARE CRASHING, JOBS NUMBERS ARE TERRIBLE, WE ARE HEADING TO WORLD WAR lll, AND WE HAVE TWO OF THE MOST INCOMPETENT 'LEADERS' IN HISTORY. THIS IS NOT GOOD!!!' — Trump post on Truth Social Suggesting President Joe Biden and Vice President Kamala Harris were responsible, Trump was reacting to the news that U.S. employees had added 114,000 jobs in July — 35% fewer than expected — and that the unemployment rate was at its highest level in nearly three years. Nov. 1, 2024 'Today's jobs report is a great embarrassment for our Nation. Kamala has lied for years about their pathetic job growth, which has never been real. Kamala killed 46,000 manufacturing jobs, while 773,000 Americans have lost employment in just the last year — all while their jobs have been taken by foreign-born workers. America is a Nation in Decline because Sleepy Joe, and Lyin' Kamala, didn't do their job. 'TRUMP' WILL FIX IT! MAKE AMERICA GREAT AGAIN! GO VOTE!' — Trump post on Truth Social Days ahead of the presidential election, Trump blasted news that U.S. employers had added just 12,000 jobs in October, a total that economists say had been held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. Nov. 4, 2024 'Nearly 250,000 people dropped out of the labor force. They dropped out because they couldn't get a job. Can you imagine that? Can you imagine? These are the numbers, and they don't want to talk about it, but that's OK. These numbers are disqualifying.' — Trump campaign rally in Raleigh, North Carolina According to Bureau of Labor Statistics data, around 220,000 people left the civilian U.S. workforce from September to October 2024 during Biden's presidency. April 4, 2025 'GREAT JOB NUMBERS, FAR BETTER THAN EXPECTED. IT'S ALREADY WORKING. HANG TOUGH, WE CAN'T LOSE!!!' — Trump post on Truth Social Trump quickly praised news that in March, U.S. employers had added a surprising 228,000 jobs, showing that the American labor market was in solid shape as he embarked on a risky trade war with the rest of the world. The hiring numbers were up from 117,000 in February and were nearly double the 130,000 that economists had expected. June 6, 2025 'GREAT JOB NUMBERS, STOCK MARKET UP BIG! AT THE SAME TIME, BILLIONS POURING IN FROM TARIFFS!!!' — Trump post on Truth Social Trump responded enthusiastically to the initial numbers on the May jobs report, which indicated that the economy added 139,000 jobs. That estimate was later revised down to 125,000 jobs, prior to the most recent revision down to just 19,000. Aug. 1, 2025 'I was just informed that our Country's 'Jobs Numbers' are being produced by a Biden Appointee, Dr. Erika McEntarfer, the Commissioner of Labor Statistics, who faked the Jobs Numbers before the Election to try and boost Kamala's chances of Victory. ... I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY.' — Trump post on Truth Social Trump ousted McEntarfer following a report showed hiring slowed in July and was much weaker in May and June than previously reported, taking issue in subsequent days to the revisions of jobs figures that are a regular occurrence with the monthly reporting. ___ Kinnard can be reached at
