US yields fall from 2002 high as oil dips, Bessent vows on debt
US bond yields fell from their highest levels since 2002 as oil prices retreated below USD100 a barrel and Treasury Secretary Scott Bessent insisted the government’s debt load can be tamed. (Bloomberg)
Breaking News
US services sector activity slows in September as price pressures mount
US services sector activity slowed in September, with strong domestic demand stretching supply chains and raising prices paid by businesses for inputs, indicating that inflation could remain high into next year. (The Edge Malaysia)
US job growth slows sharply in September; unemployment rate rises to 4.2%.
US job growth slowed more than expected in September, but that likely does not signal a material shift in the labour market, with the weakness likely related to a calendar quirk. (The Edge Malaysia)
US inflation rises less than expected in August; consumer spending surges
US inflation increased less than expected in August, which could see financial markets further reduce the odds of another interest rate increase from the Federal Reserve next month. (The Edge Malaysia)
US job openings fall in August; layoffs remain low
Job openings, a measure of labour demand, had dropped by 256,000 to 7.079 million by the last day of August, the Labor Department’s Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey, or Jolts report, on Tuesday. (The Edge Malaysia)
Trump to unveil planned USD15.0b Iowa steel project
President Donald Trump will announce on Monday a Minnesota company’s plan to build a USD15 billion (RM61.3 billion) steel mill in Iowa, a White House official said, a major investment that the administration is highlighting as it seeks to promote domestic manufacturing ahead of the November mid-term elections. (The Edge Malaysia)
US Fed plans to raise bank oversight thresholds — Reuters
The US Federal Reserve is working on a plan to raise the asset thresholds that trigger stricter oversight of big banks, four people with knowledge of the matter said, which would allow some lenders to avoid costly additional regulation and potentially spur consolidation. (The Edge Malaysia)
US Treasury to buy back up to USD6.0b in longer-dated govt debt
The US Treasury said it will purchase up to USD6.0b (RM24.48 billion) of longer-dated government debt on Thursday, in line with the first such operation under Secretary Scott Bessent’s expanded programme to stem the recent rise in borrowing costs. (The Edge Malaysia)