Latest Government debt News

Treasury Secretary Steven Mnuchin, left, leaves a meeting with Senate Majority Leader Mitch McConnell of Ky. as negotiations continue on a coronavirus relief package on Capitol Hill in Washington, Tuesday, Aug. 4, 2020. (AP Photo/Andrew Harnik)

Treasury ramps up auctions as borrowing, virus surges

Aug. 5, 2020 9:33 AM EDT

WASHINGTON (AP) — The Treasury Department will ramp up the size of the bonds and other securities it auctions across-the-board in the face of the unprecedented borrowing needs of the the U.S. government as cases of COVID-19 surge in parts of the country. Treasury officials said Wednesday that the billions...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Wednesday, Aug. 5, 2020. Major Asian stock markets declined Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. (AP Photo/Vincent Yu)

Asian shares fall on jitters over US stimulus, China trade

Aug. 4, 2020 11:43 PM EDT

BEIJING (AP) — Major Asian stock markets declined Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney declined. Investors are watching the stalemate among U.S. legislators over employment benefits for...

FILE - In this July 20, 2020 file photo, people exercise during a government-ordered lockdown to curb the spread of the new coronavirus in Buenos Aires, Argentina, after the city government authorized people to exercise outdoors as part of a roadmap for rolling back on Covid-19 curbing quarantine restrictions. Argentina’s government said Tuesday, Aug. 4, 2020, it has reached an agreement with its main creditors to restructure billions of dollars in foreign debt, offering some relief for a country hobbled by recession even before the pandemic hit. (AP Photo/Natacha Pisarenko, File)

Argentina reports debt restructuring deal with creditors

Aug. 4, 2020 3:46 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina said Tuesday it has reached an agreement with its main creditors to restructure $65 billion in foreign debt, offering some relief for a country hobbled by recession long before the pandemic. The agreement will allow creditor groups “to support...

File-This Thursday, June 6, 2019, photo shows the U.S. Treasury Department building at dusk, in Washington. The Treasury Department is projecting government borrowing of $947 billion in the current July-September period, which would be a record for the quarter but down from the all-time high of $2.75 trillion in this year's second quarter. Treasury officials announced Monday, Aug. 3, 2020, that the government also plans to borrow $1.22 trillion in the October-December period. (AP Photo/Patrick Semansky, File)

US Treasury projects record Q3 borrowing of $947 billion

Aug. 3, 2020 3:50 PM EDT

WASHINGTON (AP) — The Treasury Department is projecting government borrowing of $947 billion in the current July-September period, which would be a record for the quarter but down from the all-time high of $2.75 trillion in this year's second quarter. Treasury officials also announced Monday that the...

Fitch lowers its outlook on US credit rating to 'negative'

Jul. 31, 2020 7:19 PM EDT

WASHINGTON (AP) — Fitch has lowered the outlook for its U.S. government credit rating to “negative” from “stable” due to soaring budget deficits, but the agency is keeping its overall rating at the highest AAA level. Fitch said Friday that the downgraded outlook reflects the...

FILE - In this April 16, 2020, file photo, a customer puts gold bars on basket for sell to a gold shop in Bangkok, Thailand. The price of gold surged more than $30 on Monday, July 27, 2020 to over $1,926 per ounce as investors step up buying of the precious metal often sought in times of uncertainty. Gold was trading at $1,926.20 by early afternoon in Asia, up 1.5%, after surging over the weekend. (AP Photo/Sakchai Lalit, File)

Gold's luster grows as investors hedge in uncertain times

Jul. 27, 2020 5:17 PM EDT

Wall Street is in the throes of a gold rush, as investors drive the price of the precious metal to new heights. Gold has been the best investment of the year so far. The price of the precious metal has climbed nearly 27% this year, more than triple the return of the largest U.S. bond funds and towering over the...

FILE - In this May 14, 2015 file photo, construction workers chat in front of a billboard for state investment fund 1 Malaysia Development Berhad (1MDB) at the fund's flagship Tun Razak Exchange development in Kuala Lumpur, Malaysia. Goldman Sachs reaches $3.9 billion settlement with Malaysia over scandal-plagued 1MDB sovereign wealth fund. (AP Photo/Joshua Paul, File)

Goldman Sachs and Malaysia reach $3.9B settlement over 1MDB

Jul. 24, 2020 9:06 AM EDT

KUALA LUMPUR, Malaysia (AP) — Malaysia’s government said Friday it has reached a $3.9 billion settlement with Goldman Sachs in exchange for dropping criminal charges against the bank over bond sales that raised money for the 1MDB sovereign wealth fund, which was looted of billions of dollars in a...

FILE - In this Feb. 13, 2020 file photo, President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington. In a shift, the Senate Banking Committee is likely to back President Donald Trump's unconventional nomination of  Shelton for the Federal Reserve's Board of Governors in a party-line vote Tuesday, July 21. (AP Photo/J. Scott Applewhite, File)

Senate panel approves Trump's controversial Fed nominee

Jul. 21, 2020 4:00 PM EDT

WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump's choice of Judy Shelton for the Federal Reserve board of governors on a party-line vote, overcoming widespread questions about her qualifications for the Fed. Committee Chairman Sen. Mike Crapo, Republican of Idaho,...

German Chancellor Angela Merkel, left, and French President Emmanuel Macron walk onto the podium prior to a media conference at the end of an EU summit in Brussels, Tuesday, July 21, 2020. Weary European Union leaders finally clinched an unprecedented budget and coronavirus recovery fund early Tuesday, finding unity after four days and as many nights of fighting and wrangling over money and power in one of their longest summits ever. (John Thys, Pool Photo via AP)

Stimulus package breaks new ground in European unity

Jul. 21, 2020 11:00 AM EDT

FRANKFURT, Germany (AP) — European leaders took a historic step towards sharing financial burdens among the EU's 27 countries by agreeing to borrow and spend together to pull the economy out of the deep recession caused by the virus outbreak. Pushed by Germany's Angela Merkel and France's Emmanuel Macron,...

FILE - In this Aug. 16, 2019 file photo, Puerto Rico Gov. Wanda Vazquez speaks during an interview with the Associated Press at the official residence La Fortaleza, in San Juan, Puerto Rico. Vazquez announced on Saturday, May 16, 2020, that she will hold a non-binding referendum in November to decide whether Puerto Rico should become a U.S. state. (AP Photo/Dennis M. Rivera Pichardo, File)

Puerto Rico announces referendum to protect public pensions

Jul. 20, 2020 3:08 PM EDT

SAN JUAN, Puerto Rico (AP) — Puerto Rico’s governor announced Monday that she plans to hold a referendum on whether public pension payments should be protected by the U.S. territory’s Constitution for the first time in the island’s history. If approved, the measure would prohibit using...