The US Treasury Department on Friday announced it would proceed with its sales of Treasury bills and coupons in December as previously scheduled. The announcement follows President Donald Trump’s order to close the federal government on Christmas Eve and the day after Christmas. Most Read from Bloomberg “Treasury confirms that it will maintain its anticipated schedule for auctions and announcements on Wednesday, December 24, 2025,” the department said in a statement. “Maturities and settlements on Fri ...

Gold pared gains as traders grew cautious on bets of further monetary easing next year after US Federal Reserve officials offered strongly opposing views Friday. Declines in US equities, driven by a selloff in technology shares, also meant some investors may have to exit their positions in metals to cover losses elsewhere. Most Read from Bloomberg Federal Reserve Bank of Cleveland President Beth Hammack said she would prefer interest rates be slightly more restrictive to keep pressure on inflation, whi ...

The U.S. Federal Reserve has quietly made a move that markets have not seen in years and one that could have major consequences for risk assets like cryptocurrencies. With quantitative tightening (QT) now officially over, the Fed has confirmed it will begin buying around $40 billion worth of short-term U.S. Treasury bills every month. Fed officials say the move is merely “technical,” meant to keep the financial system running smoothly. But history shows that when the Fed starts adding money back into th ...

Core Viewpoint - The Federal Reserve's decision to cut interest rates and resume purchasing Treasury bills has sparked a debate about the U.S. economy's future, with contrasting views from analysts and economists [1]. Group 1: Economic Perspectives - Economist Peter Schiff warns that the Fed's new liquidity measures represent a dangerous return to quantitative easing, predicting that this policy will lead to rising long-term interest rates [2]. - In contrast, institutional investors express optimism, with LPL Financial's Chief Economist Jeffrey Roach stating that the Fed's actions indicate a successful balance of its dual mandate, leading to a "Goldilocks" scenario for the economy [3]. - Gina Bolvin from Bolvin Wealth Management supports this optimistic view, suggesting the Fed is shifting focus from fighting inflation to managing economic risks [4]. Group 2: Fed's Actions and Market Reactions - The Fed plans to purchase approximately $40 billion per month in shorter-maturity Treasuries to smooth volatility in short-term funding markets, a move that has drawn criticism from Schiff [4][5]. - Bill Adams, Chief Economist for Comerica Bank, notes that the Fed is operating in a "data vacuum" due to delayed economic releases and anticipates a leadership change when Chair Powell's term ends in May 2026 [5]. - Chris Zaccarelli of Northlight Asset Management cautions that the current optimistic sentiment may diminish if investors realize that the path to lower rates is slower than expected [6]. Group 3: Market Performance - The S&P 500 index has increased by 17.35% year-to-date, while the Dow Jones index has returned 13.36%, and the Nasdaq Composite has gained 22.68% in the same period [7]. - The SPDR S&P 500 ETF Trust (NYSE:SPY) closed at $687.57, up 0.66%, while the Invesco QQQ Trust ETF (NASDAQ:QQQ) closed at $627.61, up 0.41% [8].

December 11, 2025 01:28 AM GMT Federal Reserve Monitor | North America December FOMC Reaction: Well Positioned to Wait and See How the Economy Evolves The Fed reduced the funds rate by 25bp but signaled that future adjustments will be more data dependent, as we expected. We continue to expect further cuts in January and April, but if the labor market stabilizes, then future cuts may not come until inflation decelerates. Key expectations | M December 11, 2025 01:28 AM GMT December FOMC Reaction: | Chief US E ...

The Federal Reserve's move to expand its balance sheet again by buying Treasury bills is expected to ease money-market strains, calming investor worries that years of bond-portfolio runoff had drained too much liquidity from the financial system. ...

CONCLUDED Fed Meeting Today: FOMC Cuts Again, Projects Just One More Next Year Last Updated: Fed Surprises Market With Early Buying of T-Bills By Karishma Vanjani The Fed said it is going to start purchasing short-term U.S. debt this week, a timeline that was earlier than Wall Street expected. Wall Street strategists, including from Bank of America, had expected the Fed to announce a plan to buy additional Treasury bills, starting in January, to smooth out disruptions that have taken place in the short-term ...

Economic Outlook - Some officials view the economy as cooling in a controlled manner, while others express concern that deterioration could accelerate if borrowing costs remain high for an extended period [1] - Hiring has slowed and wage growth has decelerated, yet unemployment remains low by historical standards [1] Federal Reserve Actions - The Federal Open Market Committee (FOMC) lowered the interest rate by a quarter percentage point in both September and October due to labor market concerns, maintaining a cautious "wait-and-see" approach influenced by tariff inflation and trade policy [2] - The FOMC signaled a potential pause in rate cuts in the short term, with the Federal Funds Rate now set between 3.50% and 3.75% following a 25-percentage-point cut in December [5][6] - The Fed plans to buy $40 billion of Treasury bills monthly starting December 12 to ensure sufficient cash in the financial system, marking a shift from previous balance sheet reduction strategies [13][15] Inflation and Employment - The Fed's dual mandate requires balancing inflation and job growth, with current inflation levels deemed too high and the labor market showing signs of softening [9][10] - Powell indicated that the Fed has done enough to support employment while keeping rates high enough to manage price pressures [7] Future Projections - The quarterly Summary of Economic Projections suggests one more quarter-point rate reduction is expected in 2026, with growth upgraded to 2.3% primarily due to adjustments from the government shutdown [4][19] - The "dot plot" will be closely monitored for insights into the Fed's future rate strategy, with a small number of projected cuts indicating caution among policymakers [17][18]

A "major firm" will test a GBP stablecoin in the FCA sandbox. Credit: FCA. Key Takeaways The U.K. government will consult on changes expanding the market for Treasury bills. Compared to its peers, the U.K. government debt has much longer average maturities. A “major firm” will test a GBP stablecoin in the FCA’s regulatory sandbox. In the United States, stablecoins have already driven a noticeable increase in demand for Treasury bills. Now, as regulators in the U.K. anticipate a wave of GBP-denomi ...

Core Insights - The table presents bids, sales, stop-rates, pro-rata, and prices for specific ISINs, indicating active market participation and pricing dynamics [1] Group 1: Bids and Sales - The total bid amount is 4,960 million kr, with sales amounting to 3,940 million kr, reflecting a strong interest in the securities [1] - Individual bids include 1,200 million kr for ISIN 98 20169 DKT 03/03/26 I and 3,760 million kr for ISIN 98 20243 DKT 02/06/26 II, showing varied investor interest across different securities [1] Group 2: Stop-rates and Prices - The stop-rate for the securities is approximately 1.60% for ISIN 98 20169 DKT 03/03/26 I and 1.61% for ISIN 98 20243 DKT 02/06/26 II, indicating competitive pricing in the market [1] - The prices for the securities are 99.5972 for ISIN 98 20169 DKT 03/03/26 I and 99.1926 for ISIN 98 20243 DKT 02/06/26 II, suggesting a slight discount from par value [1] Group 3: Settlement Information - The sale is scheduled to settle on December 2, 2025, providing a timeline for investors regarding the transaction [1]