While people who own and sell cryptocurrency have always had to pay taxes on their earnings, a new rule finalized by the US Treasury Department can ensure that they’re paying the proper amount on their sales. The new rule will require cryptocurrency platforms like exchanges and payment processors to report their users’ transactions to the […]
Tag: Treasury
US Treasury finalizes new crypto tax reporting rules
By Hannah Lang (Reuters) – The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users’ sales and exchanges of digital assets to the Internal Revenue Service. The new requirements aim to crack down on crypto users who may be failing to pay […]
Jobs, inflation data may break the US Treasury market out of narrow range
By David Randall NEW YORK (Reuters) – A series of upcoming economic reports and Congressional testimony from Federal Reserve Chairman Jerome Powell could jolt U.S. government bonds out of a narrow trading range. Yields on benchmark U.S. 10-year Treasuries, which move inversely to bond prices, have bounced between about 4.20% and 4.35% since mid-June, as […]
Treasury Secretary promotes Biden housing, economic development policies in Minnesota visit
Secretary of the Treasury Janet Yellen speaks to the Economic Club of Chicago luncheon on Jan. 25, 2024 in Chicago, Illinois. Yellen used the address to highlight the state of the U.S. economy. Photo by Scott Olson/Getty Images. U.S. Treasury Secretary Janet Yellen touted investments in affordable housing and community development on a visit to […]
US Treasury to devote extra $100 million over 3 years to affordable housing
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen announced $100 million in new financing on Monday to increase the supply of affordable housing, as the Biden administration seeks to address high housing costs ahead of the Nov. 5 presidential election. The measure is one of several moves by the Treasury to try […]
Larger US Deficits Pave the Way for Even More Treasury Bills
(Bloomberg) — US fiscal deficits are projected to grow over the next decade, likely pushing the government to increasingly rely on Treasury bills and healthy demand to plug the holes. Most Read from Bloomberg The nonpartisan Congressional Budget Office last week upped its deficit estimate for 2024 to almost $2 trillion from about $1.6 trillion […]
Shrinking Fed rate cut expectations to keep US Treasury yields elevated: Reuters poll
By Sarupya Ganguly BENGALURU (Reuters) – U.S. Treasury yields will plateau over the coming three months and then only fall modestly by year-end amid receding expectations of Federal Reserve interest rate cuts, according to a Reuters poll of bond strategists. After peaking at 5.02% in October, the benchmark U.S. 10-year Treasury note yield plummeted over […]
Long-dated Treasury holdings downsized as Fed faces tough inflation choices
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Bond investors, worried about persistently sticky inflation, have reduced their exposure to longer-dated U.S. Treasuries ahead of the Federal Reserve’s two-day monetary policy meeting this week in which it is likely to hold interest rates steady. The U.S. central bank’s policy-setting Federal Open Market Committee is widely expected […]
U.S. Treasury sanctions Ecuadorean crime gang Los Lobos and its leader-statement
(Reuters) – The United States on Thursday imposed sanctions on Ecuadorean crime gang Los Lobos and its leader, the Treasury Department said in a statement. Los Lobos, led by Wilmer Geovanny Chavarria Barre, known by his alias Pipo, has emerged as Ecuador’s largest drug trafficking organization and contributes significantly to the violence gripping the country, […]
Summers Sees Higher US Long-Term Treasury Yields Over Time
(Bloomberg) — Former US Treasury Secretary Lawrence Summers said he sees higher long-term interest rates over time. Most Read from Bloomberg “Markets should be getting used to rates in current ranges for the foreseeable future and probably long rates above current levels,” he said Tuesday in an Economic Club of New York webinar conducted with […]
Treasury Yields Fall, Dollar Weakens As Manufacturing Activity Gauge Contracts More Than Expected
Treasury Yields Fall, Dollar Weakens As Manufacturing Activity Gauge Contracts More Than Expected The U.S. manufacturing activity barometer contracted more than expected in May, leading to a sharp retreat in Treasury yields at the start of the week. After falling back into contraction in April, manufacturing activity continued to decline for the second consecutive month, […]
Dow leads stock slide as rising Treasury yields rattle nerves
US stocks waded in the red on Wednesday, after a spike in Treasury yields unsettled investors already weighing whether recent data will shift the needle on interest rates. The benchmark S&P 500 (^GSPC) fell 0.7%, while the Dow Jones Industrial Average (^DJI) drifted about 0.9% lower, shedding nearly 350 points. The Nasdaq Composite (^IXIC) also […]