U.S. Treasury to sell $75 bln in bills

June 25 (Reuters) – For details of the U.S. Treasury’s auctions of 4-week and 8-week bills on Thursday, see: 4-week bills here 8-week bills here (Reporting By Karen Brettell)

Your first trade for Tuesday, June 25

The"Fast Money " traders shared their first moves for the market open.

Tim Seymour was a buyer of FedEx.

Brian Kelly was a buyer of the Junior Gold Miners ETF.

Dan Nathan was a seller of the Consumer Staples ETF.

Guy Adami was a buyer of CME Group. 

Trader disclosure: Tim Seymour is long AMZN, AAPL, ACBFF, ACRGF, AMZA, ACB, APC, APH, BA, BABA, BAC, BIDU, BX, C, CCJ, CGC, CLF, CMG, CNTTF, CRLBF, CRON, CSCO, CWEB, CURLF, DAL, DIS, DPZ, DVYE, DYME, EEM, EUFN, EWM, FB, FDX, FXI, GE, GILD, GM, GOOGL, GTBIF,GTII, GWPH, HAL, HEXO, HK.APH, HRVOF, HVT, HYYDF, INTC, ITHUF, JD, KHRNF, KRO, KSHB, LEAF, LNTH, MAT, MCD, MJNE, MO, MOS, MPEL, MPX, MRMD, NKE, OGI, ORGMF, OTC, PAK, PHM, PYPL, RH, RL, SBUX, SQ, STZ, T, TER, TIF, TGOD, TNYBF, TRSSF, TRST, TWTR, UA, UAL, VALE, VIAB, VOD, X, XRT, YNDX, 700. Tim is short IWM, RACE, SPY, TSLA. Tim's firm is long CGC, HEXO, CRON, APH. Tim is on the advisory board of Green Organic Dutchman, Heaven, Kushco, Dionymed, Tikun Olam, CCTV, and Canndescent. Brian Kelly is long Bitcoin, Litecoin and Ethereum, GLD, USO. Dan Nathan is long EA June / Sept call calendar. Long DIS June / Sept call calendar. XHB long sept put spread. TLT Long Sept call spread. Long SBUX long August put spread. PG, SMH Long Aug put spread. Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck.

Britain's new prime minister should take up position on July 24 – spokesman

LONDON, June 25 (Reuters) – Britain’s new prime minister should take up his position on the afternoon of July 24, a spokesman for Theresa May said on Tuesday, fleshing out a succession triggered by her resignation after failing to get her Brexit deal approved by parliament.

MoneyGram To Use RippleNet For Cross-border Payment

Money transfer company MoneyGram International joined Ripple’s enterprise blockchain network RippleNet to enable faster and secure cross-border settlements for its customers.

The move follows an initial strategic investment of $30 million by blockchain firm Ripple in exchange for MoneyGram equity.

The partnership will be for an initial term of two years, during which Ripple may invest up to an additional $20 million.

MoneyGram will utilize Ripple’s xRapid product, leveraging XRP in foreign exchange settlement as part of MoneyGram’s cross-border payment process. XRP, Ripple’s native digital asset, will act as a real-time bridge between the sending and receiving currencies.

RippleNet is expected to improve MoneyGram’s settlement of cross-border payments by increasing efficiency and reducing operating cost.

xRapid claims to settle funds instantly of funds from US dollars to destination currencies on a 24/7 basis.

MoneyGram currently relies on traditional foreign exchange markets to meet its settlement obligations, which require advance purchases of most currencies.

Initially, Ripple had partnered MoneyGram in January 2018 to pilot XRP in their payment flows and to explore MoneyGram’s integration into Ripple’s ecosystem.

CBO cuts long-term debt forecast by 11 percentage points

The Congressional Budget Office in its annual outlook forecast debt as a percentage of GDP in 2048 to be 11 percentage points lower in this year’s extended baseline projections than it was in last year’s, owing to a decline in spending projections. That decline is because of smaller appropriations for relief and recovery efforts related to hurricanes and wildfires — which then gets projected over the long term — and because of a downward revision of average interest rates. Still, the CBO expects debt to get to "unprecedented" levels — 144% of GDP by 2049, up from 78% this year.

US new-home sales fell 7.8% in May

Is home ownership still part of the American dream?

National Association of Home Builders CEO Jerry Howard on the state of the housing market.

WASHINGTON (AP) — Sales of new U.S. homes slumped 7.8% in May, as sales plunged in the pricier Northeastern and Western markets.

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The Commerce Department said Tuesday that new homes sold at a seasonally adjusted annual rate of 626,000 in May, down from 679,000 in April. During the first five months of the year, purchases of new homes have fallen 3.7% compared to the same period in 2018.

Lower mortgage rates and a healthy job market have yet to unleash more home-buying. Sales of new homes plummeted 35.9% in the West and 17.6% in the Northeast. New-home sales rose 4.9% in the South and 6.3% in the Midwest, which are generally more affordable markets.

The median sales price of a new home fell 2.7% from a year ago to $308,000.

Still, there are signs that sales could recover.

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Sales of existing homes — which are the bulk of the market — rebounded in May. They increased 2.5% to a seasonally adjusted annual rate of 5.34 million, evidence that lower mortgage rates might ultimately improve buying.

Hamilton police investigate stabbing that sent man to hospital

Police are investigating after a man was stabbed in Hamilton.

Police say at around 11 p.m. on Monday, the 32-year-old victim was walking with his girlfriend when he was attacked and stabbed behind the Dairy Queen on Barton near Lottridge.

He was taken to hospital with serious but non-life-threatening injuries.

Police say the victim and attacker knew each other, but a suspect description has yet to be released.

Investigators hope to speak to the victim later on Tuesday.