Latest news with #USDepartment
Yahoo
6 hours ago
- Business
- Yahoo
US Treasury keeps notes, bonds auction sizes steady, increases debt buybacks
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. Treasury Department said on Wednesday it does not anticipate increasing auction sizes for notes and bonds for at least the next several quarters, in line with market expectations, as it announced a $125 billion refunding from August to October 2025. It will, however, continue to make incremental increases to the size of Treasury Inflation-Protected Securities (TIPS) and T-bill auctions. "We use T-bills as a shock absorber for unexpected, seasonal or short term variations in borrowing needs as part of our regular and predictable issuance plan," a senior Treasury official said in a call with reporters on Wednesday. "That's because we believe ... changes in borrowing needs and addressing them in the people market is the most effective way to borrow at the least cost over time because of the ability of that market to absorb those kind of short-term changes. We think that the level of bill issuance offered today is very consistent with those plans and has helped us in light of the changes." In a statement, department will further sell $58 billion in U.S. three-year notes, $42 billion in 10-year notes, and $25 billion in 30-year bonds next week. These were the same auction sizes for the same securities announced at the February refunding. The Treasury also announced it will double the frequency of long-end nominal buybacks and increase the size of cash management buybacks, all aimed at improving liquidity in the market. The changes to the buybacks will take effect on August 13. "The Treasury will be focusing more on bill supply and they are trying to help market liquidity by increasing the sizes and frequency of buybacks, especially in the long end of the curve," said Gennadiy Goldberg, head of U.S. rates strategy, at TD Securities in New York. "So net net, this should be slightly positive for the long end." Long-dated Treasuries briefly rallied after the refunding announcement, pushing their yields lower. But their yields were last higher on the day as the initial impact from the refunding was muddied by the strong U.S. gross domestic product number. U.S. 10-year yields were last up 4.4 basis points at 4.372%. The Treasury announced that it's increasing the frequency of liquidity support buybacks in both the 10- to 20-year and 20- to 30-year nominal buckets to four times per quarter from two currently. But it will keep the current $2 billion maximum purchase per operation in both sectors. With respect to the other nominal coupon pairs, the department will continue to conduct one liquidity support operation per quarter for up to $4 billion. All told, the changes will lift total size of liquidity support buybacks from a maximum par amount of $30 billion per quarter to $38 billion. CASH MANAGEMENT BUYBACKS The Treasury is also increasing the size of cash management buybacks from a maximum $120 billion per year to $150 billion. For this quarter, however, it does not expect conducting cash management buybacks around the September tax date due to the ongoing rebuilding of the Treasury's cash balance. Cash management buybacks will resume in December, the Treasury said. Overall, the Treasury's financing plan will refund about $89.8 billion of privately-held Treasury notes and bonds maturing on August 15 and raise new cash of $35.2 billion from private investors. The Treasury also stressed the focus on T-bill issuance this quarter. It expects further marginal increases in T-bill auction sizes in coming days and then maintaining sizes at or near those levels through the end of September. It added that further increases in T-bill auction sizes are anticipated in October. "This guidance (on T-bill issuance) will continue to be the focal point of future refunding announcements," wrote Tom Simons, chief economist at Jefferies in a research note. "(Treasury) Secretary (Scott) Bessent has made it clear that he is carefully considering the best strategy and timing for terming out the debt versus continuing to lean on the front-end. At some point, perhaps after a few Fed (Federal Reserve) rate cuts, issuance of more coupons will be more attractive." Median forecasts from primary dealers estimated that Treasury could increase bill supply by $260 billion over a month and by $600 billion over a quarter without causing significant price deviations in bills relative to fair value, according to minutes of the meeting on Tuesday of the Treasury Borrowing Advisory Committee released on Wednesday. With respect to TIPS, Treasury plans to maintain the 30-year TIPS reopening auction size at $8 billion for August, increase the 10-year TIPS reopening auction size to $19 billion in September, and increase the October 5-year TIPS new issue auction size to $26 billion.
Mint
6 hours ago
- Politics
- Mint
'We will deny your Visa, if...': US Embassy's BIG warning against birth tourism
US Visa: Amid the US Department's tightening of its visa policies, the US Mission to Nigeria has issued a stern warning that visa applications will be cancelled if applicants are found travelling to US primarily to give birth in the US for citizenship purposes. 'Using your visa to travel for the primary purpose of giving birth in the United States so that your child will have US citizenship is not permitted. Consular officers will deny your visa application if they have reason to believe this is your intent,' the US Mission to Nigeria announced, in a social media post. Birth tourism in the US refers to the practice where foreign nationals travel to the country to give birth so that their off springs get direct US citizenship, as per the rights granted by the 14th Amendment. The US Mission to Nigeria's latest post warns people against indulging in the practice. Donald Trump has previously voiced concerns against the misuse of 14th Amendment rights for birth tourism. During his first term, the POTUS had issued a fact sheet titled 'President Donald J. Trump Is Taking Action to End Birth Tourism, Protect National Security, and Curb the Abuse of Public Resources' which strongly criticised the practice of birth tourism. 'The Administration is taking action to end 'birth tourism' – a practice in which aliens travel to the United States with the purpose of giving birth to gain citizenship for their children. Organizations bring in large numbers of aliens to systematically exploit this loophole and unfairly provide citizenship for their children,' reads the official notice now available on the archives of the official White House website. The Donald Trump administration is also planning to overhaul the H-1B visa program for skilled foreign workers, aiming to replace it with a more weighted and wage-linked selection process. The proposed changes aim to give preference to certain applicants based on additional criteria—potentially including wages—thereby benefiting highly-skilled and higher-paid professionals.
Hindustan Times
02-07-2025
- Politics
- Hindustan Times
US revises travel warning for Israel as Iran issues ‘fatwa' against Trump, Netanyahu; Full details here
The US Department has revised its travel advisory for Israel 'to reflect the current security situation' in the country amid 'terrorism and civil unrest.' The update comes as Iran, which was in conflict with Israel, on Sunday issued a 'fatwa' against US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu on Sunday. US has updated travel advisory for Israel ahead of Trump and Netanyahu meeting in the White House.(Reuters) The US has added Israel and the West Bank under a Level 3 Reconsider Travel category on Tuesday. Earlier, Israel was listed as a Level 4 Do Not Travel destination because of 'armed conflict, terrorism and civil unrest,' according to June 16 update. 'Terrorist groups, lone-actor terrorists and other violent extremists continue plotting possible attacks in Israel, the West Bank, and Gaza,' the new warning states. 'Terrorists and violent extremists may attack with little or no warning, targeting tourist locations, transportation hubs, markets/shopping malls, and local government facilities.' It further states that violence can happen in Israel, the West Bank, and Gaza at any time due to the unstable and complex security environment. Flights into and out of Israel may be canceled or minimized by airlines due to heightened regional tensions. What we know about fatwa issued against Trump and Netanyahu According to the New York Sun, Grand Ayatollah Naser Makarem Shirazi's fatwa, a religious decree similar to the one declared against award-winning author Salman Rushdie, encourages Muslims to overthrow Israeli and American officials for endangering the leadership of the Islamic Republic. The decree states anyone or any organization that jeopardizes the unity and authority of the Ummah, the worldwide Islamic community, should be labeled a "warlord" or "mohareb"—one who fights a war against God. Iranian law allows people who are considered mohareb to be executed, crucified, have limbs amputated, or exiled. Also Read: Netherlands Queen Maxima breaks silence on claims of mocking Trump in viral video; 'I said...' Trump says Israel accepts US-proposed 60-day ceasefire proposal Meanwhile, Trump appealed to Hamas to accept what he described as a "final proposal" for a 60-day ceasefire with Israel in Gaza, which will be presented by negotiating officials from Egypt and Qatar. Trump claimed on social media that a "long and productive" meeting between his delegates and Israeli officials over Gaza had taken place. According to Trump, Israel has consented to the terms of a 60-day truce and 'during which time we will work with all parties to end the War.' 'I hope, for the good of the Middle East, that Hamas takes this Deal, because it will not get better — IT WILL ONLY GET WORSE. Thank you for your attention to this matter!' the US President stated. Earlier in the day, Trump expressed optimism to reporters that Israel and Hamas terrorists in Gaza will be able to reach a ceasefire-for-hostages arrangement next week. On Monday, he will meet with Netanyahu at the White House.
Bloomberg
01-07-2025
- Business
- Bloomberg
Why the US Treasury Keeps Getting Hacked
A Bloomberg News investigation has found that in three major hacks the US Treasury didn't deploy cybersecurity measures that could have prevented the attacks or flagged the intruders sooner. Our review of previously unreported government documents and interviews with more than a dozen people — including current and former Treasury employees, bank executives and cybersecurity experts — uncovered new details about the hacks that underscore concerns about the department's cybersecurity defense dating back years. In all three instances, Bloomberg's investigation shows, the department failed to deploy security measures that might have prevented the breaches or flagged the intruders sooner. Bloomberg's cybersecurity reporter Jordan Robertson joined Caroline Hepker and Jack Sidders on Bloomberg Radio to discuss. (Source: Bloomberg)
Yahoo
27-06-2025
- Business
- Yahoo
Mexico's Terrafina to remove CIBanco as trustee after US sanctions
MEXICO CITY (Reuters) -Mexican real estate trust Terrafina said on Friday it planned to remove bank CIBanco as its trustee due to U.S. money laundering accusations, which resulted in Mexico's banking regulator stepping in to manage it. CIBanco has rejected the sanctions from the U.S. Treasury Department, which prohibit certain transactions with the firm. President Claudia Sheinbaum said on Thursday she had not received any evidence of money laundering from the U.S., which also sanctioned two other financial operators, Vector Casa de Bolsa and Intercam Banco. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
