The front end of the Treasury curve is attractive, says JPMorgan's Priya Misra
Priya Misra, JPMorgan Asset Management fixed income portfolio manager, joins 'Squawk Box' to discuss the state of the economy, impact of tariff uncertainty, U.S. Treasury market, yield curve trends, and more.
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Treasury yields steady after sharp Wednesday declines on weak data
U.S. Treasury yields stabilized on Thursday after sharp declines notched Wednesday on the back of a slate of disappointing U.S. data. The 2-year yield rose less than 1 basis point to 3.885% at 3:26 a.m. EST, with the 10-year Treasury yield also up by less than 1 basis point at 4.371%. The 30-year long bond yield held steady at 4.89%. One basis point equals 0.01%. Yields and prices move inversely in the bond market. Investors will be keeping an eye out on April trade data and on the latest initial jobless claims print coming out later on Thursday, after a set of weak indicators sent Treasury yields on a steep tumble during the previous session. The 10-year bond yield eased by more than 10 basis points on Wednesday. The services sector activity weakened unexpectedly in May to 49.9%, slipping just below the threshold that separates expansion from contraction and missing the Dow Jones forecast of 52.1% Similarly, private sector payrolls increased by only 37,000 in May, falling significantly short of a Dow Jones estimate of 110,000. The disappointing figure heightened investor concerns about a weakening labor market and its potential economic fallout. Despite the forecast misses, the latest numbers are not "so bad" as to revive fears about a recession in the world's largest economy, Deutsche Bank wrote in a research note published Thursday. Later this week, traders will also be keeping an eye on May's non farm payrolls and unemployment rate, due out on Friday.
Yahoo
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Ukraine and U.S. discuss how to make minerals fund operational by year-end
WASHINGTON (Reuters) -Ukraine and the United States have discussed how to make a minerals fund operational by the end of the year and the fund's first meeting is expected in July, Ukraine's First Deputy Prime Minister, Yulia Svyrydenko, said in Washington on Wednesday. The agreement on developing Ukraine's mineral resources, heavily promoted by U.S. President Donald Trump, was signed by Svyrydenko in Washington in April after weeks of tough negotiations made the terms more favorable to Kyiv. Ukraine's parliament then ratified the deal. On Wednesday, Svyrydenko held meetings with U.S. Treasury Secretary Scott Bessent and the Development Finance Corporation, which would be a partner of the minerals fund, "and we discussed very concrete steps how to make this fund operational during this year," she told reporters. "So we plan to have the first board meeting of this fund in July and we will discuss what will be the seed capital to start operating this fund. And actually, too, we should adopt the investment strategy for this fund for the next few years." The negotiations leading to the clinching of the minerals fund deal followed a heated exchange at the White House between Trump and Ukrainian President Volodymyr Zelenskiy over how to work towards ending Ukraine's three-year-old war with Russia. The agreement was critical to Zelenskiy mending ties with Trump. The two men met briefly at the Vatican in April during the funeral of Pope Francis to help put their relations back on track. 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
Yahoo
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Musk calls for killing House's ‘big, beautiful bill'
Elon Musk on Wednesday called for killing the House's 'big, beautiful bill' and for a new spending bill to be drafted after he threw a wrench into GOP leadership's plans to pass President Trump's bill of legislative priorities by July 4. 'A new spending bill should be drafted that doesn't massively grow the deficit and increase the debt ceiling by 5 TRILLION DOLLARS,' Musk said on his social platform X. He later added on X, 'Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL.' Musk, who was at the helm of the Department of Government Efficiency (DOGE), called the legislation passed by the House 'pork-filled' and a 'disgusting abomination' on Tuesday. His stinging criticism doubled down on his previous comments that the bill undermines the cost-cutting efforts of DOGE. Speaker Mike Johnson (R-La.) told reporters Wednesday that there isn't time for a new bill in response to Musk's comments. 'I want Elon and all my friends to recognize the complexity of what we've accomplished here. This extraordinary piece of legislation, record number of savings, record tax cuts for the American people and all the other benefits in it. We worked on the bill for almost 14 months. You can't go back to the drawing board, and we shouldn't,' Johnson said. 'We have a great product to deliver here. So I know it doesn't … it's not perfect by some peoples' estimations. But you cannot make perfect the enemy of the very, very, very good. …So I'll continue to try to reach Elon and tell him, extol the merits of our work here. I hope he'll understand it.' Musk's criticism gave political cover to the fiscal hawks in the Senate who were already critical of the legislation, including GOP Sens. Ron Johnson (Wis.), Mike Lee (Utah) and Rand Paul (Ky.). Paul said Tuesday on CNBC's 'Squawk Box' that if four conservatives band together, they could force Senate GOP leaders to agree to bigger spending cuts and possibly 'separate out' language to raise the debt ceiling by $4 trillion. Similarly, Lee called for the Senate to 'make this bill better.' The group wants to see deeper spending cuts while other Republicans, like Sens. Susan Collins (Maine), Lisa Murkowski (Alaska), Josh Hawley (Mo.) and Jerry Moran (Kan.), are worried that House language to cut Medicaid spending will hurt their constituents. Meanwhile, the White House has brushed off Musk bashing the bill and said his criticism 'doesn't change the president's opinion.' Speaker Johnson earlier Wednesday said Trump is 'not delighted' with Musk's position on the bill and that 'Elon did a 180 on that.' Trump is 'deeply involved' with 'personally advocating' for the bill, and there will be additional meetings going forward between the administration and lawmakers to get it passed, a White House official told The Hill. Trump held a press conference with Musk in the Oval Office on Friday to mark his exit from the White House team and to thank the Tesla CEO for his work to overhaul the federal government. Mychael Schnell contributed. Updated at 4:26 p.m. EDT Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
