Latest Debt and bond markets News

In this May 19, 2020, photo, Senate Majority Leader Mitch McConnell of Ky., speaks with reporters after meeting with Senate Republicans at their weekly luncheon on Capitol Hill in Washington. Congress is at a crossroads in the Covid-19 crisis. Lawmakers are wrestling over whether to “go big” as House Speaker Nancy Pelosi wants for the next relief bill or hit “pause” as McConnell insists. (AP Photo/Patrick Semansky)

McConnell discusses prospects for another round of relief

May. 26, 2020 3:23 PM EDT

Faced with a collapsed job market, Congress needs to tend to unemployment insurance funds supporting millions thrown out of work, but surging debt means there are limits to the scope of federal aid to help heal the coronavirus -damaged economy, the Senate's top leader said Tuesday. In his first public appearances...

Hawaii lawmakers recess after addressing budget shortfall

May. 21, 2020 10:24 PM EDT

HONOLULU (AP) — Hawaii lawmakers on Thursday recessed after passing multiple funding bills designed to cope with the shock of the coronavirus pandemic that has hammered the state's tourism-dependent economy. House and Senate leaders said they expected to reconvene around June 15 to continue their work. ...

German Chancellor Angela Merkel speaks during a press conference following a joint video conference with French President Macron in Berlin, Germany, Monday, May 18, 2020. One topic was the Corona Pandemic and its consequences. (Kay Nietfeld/dpa via AP)

Germany breaks taboo in effort to get EU through pandemic

May. 19, 2020 12:13 PM EDT

FRANKFURT, Germany (AP) — Germany’s agreement to share debt with other EU countries to finance an economic recovery plan is being greeted as a political breakththrough and an overdue sign of unity in the face of the worst downturn the bloc has ever seen. Chancellor Angela Merkel broke with her...

Editorial Roundup:

May. 18, 2020 10:00 AM EDT

The Detroit News. May 16, 2020. Use relief funds for recovery alone As the federal government spends astronomical sums to combat the effect of economic slowdowns due to the pandemic, Congress needs to make sure that these funds are targeted as narrowly as possible. House Democrats have presented their latest...

In this Friday, May 8, 2020 photo, people look out at the Burj Khalifa, the world's tallest building, at sunset in Dubai, United Arab Emirates. Dubai built a city on the promise of globalization, creating itself as a vital hub for the free movement of trade, people and money worldwide. Now, with events cancelled, flights grounded and investment halted, this sheikhdom in the UAE faces both the threat of the coronavirus and a growing economic crisis. (AP Photo/Jon Gambrell)

Built for a global economy, Dubai now threatened by virus

May. 13, 2020 1:10 PM EDT

DUBAI, United Arab Emirates (AP) — Dubai built a city of skyscrapers and artificial archipelagos on the promise of globalization, creating itself as a vital hub for the free movement of trade, people and money worldwide — all things that have been disrupted by the coronavirus pandemic. Now, with...

Fed vows transparency in providing details on support

May. 12, 2020 5:01 PM EDT

WASHINGTON (AP) — The Federal Reserve said Tuesday that each month it will publish the names of borrowers from two of the programs it has established to support the economy during the coronavirus pandemic. The Fed said it will disclose details on the amounts of support being provided for its Term...

Hawaii lawmakers outline plans to make up budget shortfall

May. 11, 2020 10:47 PM EDT

HONOLULU (AP) — Hawaii lawmakers said Monday they plan to plug a projected $1 billion hole in the state budget for the upcoming fiscal year by using money from the rainy day fund, reducing vacancies in state bureaucracies and issuing bonds. The shortfall developed as the spread of the coronavirus pandemic...

Report: Gas tax revenue drop could delay road, rail projects

May. 9, 2020 11:20 AM EDT

CHICAGO (AP) — Gas tax revenue in Illinois could plummet by hundreds of millions of dollars this year because coronavirus restrictions are keeping drivers off the road, possibly delaying some major road and rail projects, a think tank has warned. The report from the Illinois Economic Policy Institute...

FILE - In this March 26, 2020, file photo, tractors groom the racing surface at the Pimlico Race Track in Baltimore, Md. The Preakness will remain at Pimlico Race Course into the foreseeable future, thanks to the passing of a bill to redevelop Maryland's race tracks with $375 million in bonds. (AP Photo/Steve Helber, File)

Pimlico to be renovated and keep Preakness after bill passes

May. 8, 2020 11:14 AM EDT

BALTIMORE (AP) — The Preakness will remain a fixture at timeworn Pimlico Race Course, which will receive a much-needed facelift following the passing of a bill to redevelop Maryland tracks. Gov. Larry Hogan on Thursday permitted a bill to become law that would enable the Maryland Stadium Authority to issue...

This Sept. 18, 2019 photo shows the U.S. Treasury Department building viewed from the Washington Monument in Washington. The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic. Treasury said Monday, May 4, 2020 that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it did in the July-September 2008 quarter as it dealt with the 2008 financial crisis. The extraordinary sum of $2.99 trillion of borrowing in a single quarter dwarfs the $1.28 trillion the government borrowed in the bond market for all of 2019. (AP Photo/Patrick Semansky)

As US piles up debt to aid economy, even usual critics cheer

May. 5, 2020 2:05 PM EDT

WASHINGTON (AP) — The U.S. government has opened the spigots and let loose nearly $3 trillion to try to rescue the economy from the coronavirus outbreak — a river of debt that would have been unthinkable even a few months ago. And yet the response, even from people who built careers as skeptics of...