Mar 21, 2011
Daily Treasury Long Term Rate Data
Monday Mar 21, 2011, 4:36 PMTreasury Long-Term Average Rate and Extrapolation Factors. Beginning February 18, 2002, Treasury ceased publication of the 30-year constant maturity series. Instead, from February 19, 2002 through May 28, 2004, Treasury published a Long-Term Average Rate, "LT>25," (not to be confused with the Long-Term Composite Rate, definitions below). In addition, Treasury published daily linear extrapolation factors that could be added to the Long-Term Average Rate to allow interested parties to compute an estimated 30-year rate. On June 1, 2004, Treasury discontinued the "LT>25" average due to a dearth of eligible bonds. In place of the "LT>25" average, Treasury published the Treasury 20-year Constant Maturity rate on this page along with an extrapolation factor that was added to the 20-year Constant Maturity to obtain an estimate for a theoretical 30-year rate. On February 9, 2006, Treasury reintroduced the 30-year constant maturity and is no longer publishing the extrapolation factor.
The Long-Term Average Rate, "LT>25," was the arithmetic average of the bid yields on all outstanding fixed-coupon securities (i.e., excluding Inflation-Indexed securities) with 25 years or more remaining to maturity. This series first appeared on February 19, 2002, following discontinuation of the 30-year Treasury constant maturity series. Subsequently, the "LT>25" average was discontinued on June 1, 2004.
Linear Extrapolation Factors were determined by considering the slope of the yield curve at it's long end and extrapolating out to a theoretical 30-year point. To use the Extrapolation Factor to determine a 30-year proxy rate, add the factor to the 20-year Constant Maturity Rate. For example, if on a particular day the 20-year Constant Maturity was 5.40% and the Extrapolation Factor was 0.02%, then a 30-year theoretical rate would have been 5.40% + 0.02% = 5.42%. Publishing of the Linear Extrapolation Factors was discontinued on February 9, 2006 with the reintroduction of the 30-year Constant Maturity Rate.
The Long-Term Composite Rate is the unweighted average of bid yields on all outstanding fixed-coupon bonds neither due nor callable in less than 10 years.
For more information regarding these statistics contact the Office of Debt Management by email at email@example.com.
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F & F I | CFTC : CFTC Charges Florida Resident Jeremy M. Globe and his Company, GlobeFX Club, Inc for false statements made to the NFA.
The CFTC filed an enforcement action charging defendants Jeremy Munson Globe and GlobeFX Club, Inc., both of Homestead, Fla., with making false, fictitious or fraudulent statements or omissions to the National Futures Association (NFA) during an NFA investigation and audit.
CFTC Charges Florida Resident Jeremy M. Globe and his Company, GlobeFX Club, Inc., with Making False Statements to the National Futures Association
F & F I | CFTC and State of California Charge The Trade Tech Institute, Inc., Technology Trading International, Inc., Robert Sorchini and Richard Carter with Fraudulently Soliciting More than 600 Managed Commodity Trading Accounts
The CFTC today announced that a federal court in Los Angeles entered a restraining order against defendants The Trade Tech Institute, Inc., Technology Trading International, Inc., Robert Sorchini and Richard Carter freezing defendants’ assets, prohibiting the destruction or alteration of their books and records, and requiring defendants to provide an accounting of all funds and assets under their control.
CFTC and State of California Charge The Trade Tech Institute, Inc., Technology Trading International, Inc., Robert Sorchini and Richard Carter with Fraudulently Soliciting More than 600 Managed Commodity Trading Accounts
Financial And Forex Info : SEC Charges Three Firms and Four Individuals in Los Angeles-Based Boiler Room Operation.
The Securities and Exchange Commission today charged three firms and four individuals involved in a boiler room scheme operating out of Los Angeles that defrauded investors who they persuaded to buy purportedly profitable trading systems.
SEC Charges Three Firms and Four Individuals in Los Angeles-Based Boiler Room Operation
Financial And Forex Info | Treasury to Begin Orderly Wind Down of Its $142 Billion Mortgage-Backed Securities Portfolio
Treasury Will Authorize Sale of up to $10 Billion in Agency-Guaranteed Mortgage-Backed Securities per Month
Part of Continued Wind Down of Holdings Acquired as Part of the Financial Stabilization Actions in 2008 and 2009 to Help Combat the Financial Crisis
WASHINGTON – Today, the U.S. Department of the Treasury announced that it will begin the orderly wind down of its remaining portfolio of $142 billion in agency-guaranteed mortgage-backed securities (MBS). Starting this month, Treasury plans to sell up to $10 billion in agency-guaranteed MBS per month, subject to market conditions.
“We’re continuing to wind down the emergency programs that were put in place in 2008 and 2009 to help restore market stability, and the sale of these securities is consistent with that effort,” said Mary J. Miller, Assistant Secretary for Financial Markets. “We will exit this investment at a gradual and orderly pace to maximize the recovery of taxpayer dollars and help protect the process of repair of the housing finance market.”
Treasury acquired its portfolio of agency-guaranteed MBS under authority provided to it by Congress under the Housing and Economic Recovery Act of 2008. These purchases of agency-guaranteed MBS helped preserve access to mortgage credit and promote economic stability during a period of unprecedented market stress and volatility.
The market for agency-guaranteed MBS has notably improved since the time Treasury purchased these securities in 2008 and 2009. Based on current market prices, Treasury expects to make a profit for taxpayers on this investment. The sale of these securities will not alter our previously stated debt management objectives, nor change the path on which we intend to achieve those objectives.
In 2008, Treasury retained State Street Global Advisors to acquire, manage, and dispose of its agency-guaranteed MBS portfolio. That firm will manage the wind down of this investment. At the end of each month, Treasury will post on its website the total agency-guaranteed MBS sales it has made, broken down by coupon and agency.
The sale of these securities is part of Treasury’s continued efforts to wind down emergency programs that were put in place in 2008 and 2009 to promote financial stability and restore economic growth. On October 3, 2010, new Troubled Asset Relief Program (TARP) purchasing authority expired, and Treasury is moving to exit its remaining TARP investments in private companies. In December 2010, Treasury sold its final share of Citigroup common stock, locking in a profit of more than $12 billion on that TARP investment. General Motors’ (GM) recent initial public offering cut Treasury’s common stock stake in that company nearly in half and brought in a total of $13.5 billion for taxpayers. Additionally, Treasury recently received $9.6 billion in TARP repayments through the sale of its Ally Financial trust preferred securities holdings and AIG’s sale of its MetLife equity stake.
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By MATTHEW L. WALD
Inspectors at each nuclear site have been told to double-check that emergency precautions mandated years ago were still in place, an American official said on Monday.
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AT&T's deal to acquire T-Mobile USA for $39 billion lifted the Dow industrials back above 12,000 despite unrest in the Middle East and military action in Libya.
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Until Apple introduced its highly popular device in 2007, Deutsche Telekom had been generating rising sales from its American operation.
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Part of the game will be for AT&T to show to regulators that the acquisition of T-Mobile is a net gain for consumers.
By BINYAMIN APPELBAUM
The Supreme Court refused to hear an appeal from an association of bankers trying to keep the names of financial institutions that received Federal Reserve loans from becoming public.
|Newspoll bounce back for Gillard|
|There's some rare good news for Julia Gillard today as she forges ahead with her carbon tax sales pitch.|
The PM's day: Julia Gillard will be interviewed by 3AW's Neil Mitchell after 8.30am. She'll attend caucus at 9.30am and question time at 2pm.
Opposition leader's diary: Tony Abbott has been on 2UE this morning. He'll attend Liberal and Coalition party room meetings this morning and question time later today.
Work it #1: Not to be outdone by Tony Abbott or John Howard for that matter, Julia Gillard has been pounding the pavement in tracksuit and sneakers. Inner-south Canberrans tell Capital Circle she's been spotted on morning power walks, with security detail in tow.
Work it #2: Of course, Tony Abbott's adrenaline addiction is of an entirely different order. His daily fix was interrupted by parliamentary business yesterday, forcing the well-toned Tone to attend a division in his gym gear.
Happy Birthday: We hear Tony Abbott's chief of staff Peta Credlin is celebrating a milestone birthday this week. The Opposition leader is throwing her a party in his office tomorrow night. We hear Liberal MPs and staffers have been invited over for a few drinks.
Your 7Â¢: Also tomorrow night at Parliament House, the ABC will present its annual showcase to MPs. Auntie's managing director Mark Scott will run MPs through the latest happenings at the national broadcaster. (Note to Senator Fierravanti-Wells: It's not Senate Estimates)
Meeting of the minds: Trade Minister Craig Emerson is having a tough time trying to convince Labor MPs of the excitement that is the Doha Round. A recent briefing for caucus members on trade issues attracted just one interested MP - fellow wonk and Member for Fraser Andrew Leigh. We hear it was a very long meeting despite the poor attendance.
Free advertising: Department of Immigration media chief Sandi Logan would like to thank the Opposition for the flood of applications yesterday for six vacancies on his communications team. Shadow SMOS Bronwyn Bishop questioned the appointments in parliament yesterday, warning the government couldn't spin the boats away. Logan says he won't bother advertis
AT&T's planned buy of T-Mobile USA is ultimately expected to get regulatory approval, combining the second and fourth largest wireless operators to create a new leader that will control around 43 percent of the U.S. wireless market. AT&T CEO Randall Stephenson suggested he had little choice but to do it as AT&T is in dire need of more wireless airwaves to increase network capacity for mobile Web services.
Google announced that it's partnering with Sprint to integrate the free calling and texting service Google Voice with the carrier's feature phones and smartphones. Sprint customers will be able to use their existing Sprint mobile number as their Google Voice number.
Nokia's strategy for entering the tablet computer market may not include Microsoft, its recently announced partner for smartphones, according to a person with knowledge of the company's thinking.
Microsoft widened its legal assault on devices running on Google's Android system, filing lawsuits for patent infringement against bookseller Barnes & Noble over its Nook electronic book reader.
Facebook's creation of a mobile payment subsidiary and registration of it in a number of states could signal the social network's intent to get more broadly involved in the payments business, writes VentureBeat's Owen Thomas. Bypassing credit-card processing fees from its Facebook Credits business and the possible creation of an ad network to rival Google’s AdSense were seen as potential driving factors.
|New York Market Close Mar 21/11 05:20 PM EDT|
| Metals || Bid || Ask || Change || Low || High |
Lehman expected CDO market to worsen
The local arm of collapsed US investment bank Lehman Brothers expected the market for complex investments linked to mortgages and corporate debt to deteriorate before the onset of the subprime crisis in the US housing market, according to Lehman's internal documents.
US stocks climb for third day
Investor's confidence rose again overnight in the US, with benchmarks on Wall Street making their biggest three day gains this year.
BC Iron appeals after bid falls over
Junior iron ore producer BC Iron says it will go to the Takeovers Panel in the hope of forcing Hong Kong-based Regent Pacific to continue with a takeover bid.
|AT&T's big deal lifts Wall Street|
|NEW YORK (Reuters) - Buyers emerged on Monday in U.S. stocks, enticed by the biggest proposed merger of the year, though crises in Japan, the Middle East and North Africa meant market volatility would continue. | Full Article|
|Home sales tumble, prices are near 9-year low|
|March 21, 2011 04:27 PM ET|
|WASHINGTON (Reuters) - Sales of previously owned U.S. homes plunged in February and prices hit their lowest level in nearly nine years, indicating a housing market recovery was still a long way off. | Full Article|
|AT&T/T-Mobile expected to survive regulatory review|
|March 21, 2011 04:07 PM ET|
|WASHINGTON (Reuters) - AT&T's planned buy of Deutsche Telekom AG's T-Mobile USA will face major demands from U.S. regulators, including extensive asset sales and promises to serve rural areas, but the $39 billion deal is expected to ultimately get a government nod. | Full Article|
|Special Report: Disasters show flaws in just-in-time production|
|March 21, 2011 02:19 PM ET|
|TSUCHIURA, Japan/DETROIT/SAN FRANCISCO (Reuters) - Just over a week after the massive earthquake hit the sprawling Texas Instruments chip plant here, a gardener is reworking the Japanese garden in an inner courtyard of the office tower attached to the plant. | Full Article|
|Citi to resume dividend, sets reverse stock split|
|March 21, 2011 01:21 PM ET|
|NEW YORK/CHARLOTTE, North Carolina (Reuters) - Citigroup Inc will resume paying a nominal dividend after it uses a reverse stock split to shrink the number of shares outstanding, taking another step in its long recovery from the financial crisis. | Full Article|
|March 21, 2011|