After trending lower over the past few sessions, treasuries showed a notable move back to the upside over the course of the trading day on Wednesday.
Bond prices moved modestly higher in early trading and climbed more firmly into positive territory as the day progressed.
Republican Presidential candidate Newt Gingrich sought to fire up supporters in Georgia last week by pledging to lower gas prices by drilling anywhere in America that oil might be found.
To highlight the importance of his point, Gingrich claimed the matter was urgent for conservatives because it's impossible to put a gun rack in the back of the Chevrolet hybrid-electric car, the Volt.
Tonight's CNN-sponsored Republican debate in Mesa, Arizona, the first in almost a month, could have a significant impact on the shape of the GOP nomination process going forward.
The debate will be the last before Arizona and Michigan vote in state primaries on February 28th and before ten states hold their own primaries on Super Tuesday on March 6th.
Mitt Romney is staging a comeback in the Republican presidential primary race, with the latest polls showing the former Massachusetts Governor with slim leads over Rick Santorum in Michigan and Georgia.
Treasury Secretary Timothy Geithner Wednesday unveiled the Obama Administration's plan to reform the corporate tax code to promote economic growth in the United States.
Geithner, speaking to reporters at the Treasury Department, said that the present tax code was written for a different economic era and needs to be modernized.
Following yesterday's auction of $35 billion worth of two-year notes, the Treasury Department sold $35 billion worth of five-year notes on Wednesday, attracting average demand.
The five-year note auction drew a high yield of 0.90 percent and a bid-to-cover ratio of 2.89.
(RTTNews) - Hong Kong is on Thursday scheduled to release January figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.
Imports are expected to fall 4.5 percent on year after climbing 8.1 percent in December. Exports are tipped to contract 7.0 percent on year following the 7.4 percent expansion in the previous month. The trade balance is expected to show a deficit of 29.9 billion Hong Kong dollars following the 48.9 billion HKD shortfall a month earlier.
Taiwan will provide January numbers for commercial sales and industrial output. Sales are called lower by 4.74 percent on year after easing 0.49 percent in December. Output is tipped to plummet an annual 15.3 percent after retreating 8.15 percent in the previous month.
Singapore will announce the inflation rate for January, with analysts expecting the rate to come in at 4.7 percent - down sharply from 5.5 percent in December.