GOP Rep. Marlin Stutzman: ‘I don't see how' House has enough votes to pass Trump's megabill
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US Treasuries Edge Higher as Bessent Offers Support for Powell
(Bloomberg) -- Treasuries rose, reversing earlier losses, as Treasury Secretary Scott Bessent said he sees no reason for Jerome Powell to step down as Federal Reserve chair. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital Yields on Treasuries fell about 3 basis points across maturities. The rate on the two-year, which is particularly sensitive to changes in monetary policy, fell to 3.83%, the lowest level since July 3. Powell's future has become a key issue for bond investors as the Fed chief has come under fire from President Donald Trump for holding interest rates steady while waiting to see if trade tariffs impact inflation. Bessent, speaking Tuesday on Fox Business, however, said if Powell wants, he should stay in the post until his term ends in May. 'There could be some relief, at least for the longer end of the curve, that Bessent supports Powell remaining chair until the end of his term,' said Zachary Griffiths, head of investment-grade and macroeconomic strategy at CreditSights. With few major US economic data releases, and Fed speakers in a blackout period ahead of next week's meeting, traders are shifting their attention to next week's Treasury Department announcement of projected auction sizes for the quarter, Griffiths said. 'Growing comfort that Treasury will be maintaining nominal coupon auctions at current sizes for the foreseeable future may be assuaging supply/demand imbalance concerns,' he said. Benchmark 10-year notes extended gains to a fifth day with the yield dipping to 4.35%, about 13 basis points lower than its level a week ago. Powell Pressure Trump and some members of his administration view Powell as a hurdle to lower borrowing costs as they seek to refinance trillions in upcoming debt. Treasuries fell sharply last week after headlines flashed that the president was planning to fire Powell, a claim quickly denied by Trump. Deutsche Bank AG strategists estimated Powell's ousting would drive 30-year yields up by more than a half a percentage point. The yield stood at about 4.91% on Tuesday in New York. The strategists said the clearest hedge against risks to the Fed's independence — and a situation in which US government spending consumes monetary policy — are bets on steeper yield curves. (Recasts with Bessent comments.) Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
25 minutes ago
- Yahoo
Coca-Cola will roll out cane sugar Coke in US after Trump push
[Getty Images] US soft drink giant Coca-Cola says it plans to introduce a new Coke sweetened with cane sugar to its existing line-up , confirming a plan that President Donald Trump previewed last week. The company already uses regular sugar to sweeten its signature Coke drink in many parts of the world, but in the US it has typically used corn syrup, a lower cost alternative, for decades. Trump's Health Secretary Robert F Kennedy Jr has voiced concern about the corn syrup's health risks, though experts say there are no clear nutritional reasons to favour one sweetener over the other. "This will be a very good move by them - You'll see. It's just better!" Trump wrote on social media last week. In its quarterly update to investors on Tuesday, the firm confirmed it would "launch an offering made with US cane sugar" in autumn. The company said the new product would "complement" its existing line-up, offering more choices to customers. "We are definitely looking to use the whole tool ... kit of available sweetening options to some extent where there are consumer preferences," said boss James Quincey when asked about the decision. He noted that the firm already used cane sugar in several brands in the US, including lemonade, coffee and vitamin water. Trump surprised many when he announced on Truth Social last week that the company had agreed to use real cane sugar. The US president had previously raised the issue with the company's boss in January, according to a recent book 2024: How Trump Retook the White House. The book reported that he put billionaire sugar farmer Jose Fanjul - a major political donor - on the phone to discuss the matter. Trump touted the move on social media last week, writing: "I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so." At the time, a Coca-Cola spokesperson had said they "appreciate President Trump's enthusiasm". A product marketed in the US as "Mexican Coke", which is sold in glass bottles at a higher price, also lists traditional sugar, not corn syrup, as a sweetener and has gained a devoted following since its launch in 2005.
Yahoo
25 minutes ago
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With AI video, Trump's radical campaign against Obama takes a deranged turn
Donald Trump's weird preoccupation with Joe Biden is well documented. An analysis conducted by The New York Times, for example, found that during the first 50 days of the Republican president's second term, he mentioned 'Biden' an average of 6.32 times per day. The Times' report added, 'It is among his most frequently used terms (he said 'Biden' in more speeches than he had said 'America,' for example).' By his 100-day mark, according to NBC News, Trump had spoken about Biden, his family or his administration at least 580 times either in public remarks or on his social media platform. But as the Republican nears his 200-day mark, he's starting to focus far less on his immediate Democratic predecessor and much more on his other Democratic predecessor. Ten days ago, for example, Trump published an odd missive in which he said Barack Obama was at least partially responsible for 'creating' the Jeffrey Epstein files, which was bonkers for a variety of reasons, not the least of which was that former Democratic president had already been out of office for years when the Trump administration investigated, arrested and charged the late millionaire pedophile. This week, the Republican also declared that 'Obama himself manufactured the Russia, Russia, Russia HOAX,' which was every bit as ridiculous. Between the two absurdities, Trump also amplified a fake video that appears to have been created with AI that depicts Obama being arrested in the Oval Office. The New York Times reported: The fake video purports to show F.B.I. agents bursting into the meeting, pushing Mr. Obama into a kneeling position and putting him in handcuffs as Mr. Trump looks on smiling, while the song 'Y.M.C.A.' by the Village People plays. Later, the fake video shows Mr. Obama in an orange jumpsuit pacing in a cell. The start of the video shows a compilation of actual footage of Democratic leaders, including Mr. Obama and former President Joseph R. Biden Jr., saying, 'no one is above the law.' This coincided with Trump also promoting fake mugshots of Obama and his team wearing prison jumpsuits. If this sounds at all familiar, that's because during Trump's 2024 candidacy, while obsessing over Obama, the then-Republican candidate used his social media platform to promote a photo of the former Democratic president alongside text that called for 'public military tribunals.' It's worth emphasizing that there's literally zero evidence of Obama having done anything wrong in connection with Trump's Epstein and Russia scandals, and the suggestion that the Democratic president would be arrested because of Trump's controversies is insane, even by 2025 standards. What's more, it's very easy to believe that the incumbent Republican president is peddling this garbage in the hope of creating distractions and shifting blame away from himself. But if that's the case, why not just ignore Trump's obvious absurdities? Because of an unfortunate truth: Just because his anti-Obama crusade is a distraction doesn't mean nothing will happen. On the contrary, it's very easy to believe that Trump — who's already directed the Justice Department to investigate Biden — might very well take the same step with Obama. This article was originally published on
