Mnuchin says 50-year bond could be available in 2020

Trump administration focused on 50-year bonds: Mnuchin

Treasury Secretary Steven Mnuchin on a potential seat change in wake of John Bolton’s resignation, China trade, Huawei, the bond market, and the upcoming 2020 Democratic presidential debate.

Treasury Secretary Steven Mnuchin said a 50-year bond is being "actively" considered for 2020.

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"In regards to ultra-long bonds, our focus right now is on 50-year bonds. That's something that we're actively considering for next year. And we'll consider 100-year bonds at an appropriate time," Mnuchin told reporters on Thursday.

Treasury Secretary Steve Mnuchin departs after speaking to reporters outside the West Wing of the White House in Washington, Monday, Sept. 9, 2019. (AP Photo/Andrew Harnik)

The idea isn't totally out of the blue. Mnuchin discussed issuing signifcantly longer-term bonds in August.

"If the conditions are right, then I would anticipate we'll take advantage of long-term borrowing and execute on that," Mnuchin told Bloomberg News during an interview.

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Trump Advisers Consider Interim China Trade Deal to Delay Tariffs

 Trump administration officials have discussed offering a limited trade agreement to China that would delay and even roll back some U.S. tariffs for the first time in exchange for Chinese commitments on intellectual property and agricultural purchases, according to five people familiar with the matter, Bloomberg News reports.

Some of President Donald Trump’s top trade advisers in recent days have discussed the plan in preparation for two rounds of face-to-face negotiations with Chinese officials in Washington, due to take place in coming weeks, the people said.

More information is available on the Bloomberg Terminal. 

Developing…

Two arrested for murder of newborn baby found with broken bones

A couple have been detained in connection with the murder of an eight-week-old baby found with ‘broken bones’.

Met Police said a man, 24, and a woman, 21, were arrested on suspicion of murder.

The little girl had been found unresponsive at home in South London in April earlier this year.

This is a breaking news story, more to follow soon…

Natural-gas prices turn higher on smaller-than-expected weekly rise in supplies

The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 78 billion cubic feet for the week ended Sept. 6. The average forecast of analysts polled by S&P Global Platts had called for an increase of 87 billion cubic feet. Total stocks now stand at 3.019 trillion cubic feet, up 393 billion cubic feet from a year ago, but 77 billion below the five-year average, the government said. October natural gas NGV19, +0.90% traded at $2.57 per million British thermal units, up 1.8 cents, or 0.7%, from Wednesday’s settlement. It was trading at $2.539 before the data.

DIANA Recalls Air Rifles

DIANA recalled about 1,400 DIANA Stormrider Gen 2 air rifles for potential injury or death. The rifle can unexpectedly discharge even if the safety is engaged.

The company has received one report of a premature discharge of the air rifle. However, there have been no injuries reported so far.

The recall involves DIANA Stormrider Gen 2 Air Rifle with 2-stage adjustable trigger. These include .177 and .22 caliber, pre-charged pneumatic rifles that are powered by a compressed air cylinder.

The company advised consumers to immediately stop using the DIANA Stormrider Gen 2 air rifles and contact Air Venturi to receive a free Trigger Upgrade repair kit and installation instructions.

The air rifles, manufactured in China by Shaoxing Snowpeak Air Gun Factory, were imported by Air Venturi and sold at Pyramyd Air, Air Gun Depot, and other air rifle retailers across the U.S. as well as online at Amazon.com, PyramydAir.com and AirGunDepot.com from July 2018 through June 2019 for about $220.

Stock futures rise as Trump delays China tariffs

Stock index futures rose on Thursday after President Donald Trump said the United States would delay scheduled tariff hikes on billions worth of Chinese imports, cooling tensions that have battered financial markets over the last year.

The decision, which Trump called “a gesture of goodwill”, came after China moved to exempt some US anti-cancer drugs and other goods from additional tariffs ahead of planned trade negotiations between the world’s two largest economies.

The United States will delay increasing tariffs on $250 billion worth of Chinese imports from Oct. 1 to Oct. 15, Trump tweeted.

However, lingering concerns of slowing global growth pushed gold prices higher and lifted shares of miners such as Barrick Gold Corp, AngloGold Ashanti Ltd and Gold Fields Ltd between 1.7 percent and 4.1 percent.

Later on Thursday, the European Central Bank (ECB) is expected to offer new stimulus measures to help boost the euro zone’s flagging economies.

Analysts said while the US economy is largely insulated from the troubles of Europe, investors might sell out in case the ECB delivered a more hawkish policy decision than expected.

Dow, Nasdaq gains belie mixed market breadth readings

Despite the healthy gains in the Big 3 stock market indexes, market breadth data is providing a mixed reading. The number of advancing stocks was slightly above decliners 1,438 to 1,257 on the NYSE, but advancing volume made up less than half–47.6%–of total volume. On the Nasdaq exchange, gainers topped declines by just 1,363 to 1,344, while advancing volume was 57.3% of total volume. Meanwhile, the Dow Jones Industrial Average DJIA, +0.42% rose 98 points, or 0.4%, the S&P 500 SPX, +0.48% hiked up 0.4% and the Nasdaq Composite COMP, +0.71% advanced 0.6%.