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Statue of Albert Gallatin in front of the US Treasury Department building in WashingtonMarkets

Long bonds crack 5% then ease as Treasury holds $125bn refunding line

The 30-year US Treasury yield touched 5.03 per cent on Monday, its first break above the threshold since July, before pulling back. On Wednesday Treasury kept its $125 billion refunding plan flat and held the line on its forward guidance.

By Marcus Holloway

Headlines

US Politics

King Charles tells Congress US and UK 'stand united' as Trump-Starmer rift deepens

King Charles III became only the second British monarch to address a joint meeting of Congress, lobbying for the Atlantic alliance and NATO as President Donald Trump's public feud with Prime Minister Keir Starmer over the Iran war casts a shadow over US-UK ties.

US Politics

Tennessee Republicans set Thursday vote on map that splits Memphis into three districts

Tennessee Republicans were due to vote Thursday on a congressional map that would split Memphis into three districts and end the state's only Democratic House seat, days after the Supreme Court's Callais ruling.

US Politics

Federal court order halts White House ballroom as Republicans push $1bn taxpayer top-up

A federal court order barring above-ground construction of Donald Trump's $400 million White House ballroom remains in force, with the DC Circuit set to hear the administration's appeal in mid-June. Senate Republicans have moved separately to inject $1 billion of taxpayer money into the project's security perimeter.

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Beijing skyline showing traditional Chinese architecture against modern skyscrapers, the city where Trump is due to land on May 14 for talks with Xi JinpingForeign Affairs

Trump motorcade arrives in Beijing as Xi summit goes ahead through Iran war

Densely packed residential buildings in Beirut's southern suburbs along the Mediterranean coastForeign Affairs

Israel strikes Beirut for first time since Lebanon ceasefire, targets senior Hezbollah commander

A military missile launches skyward leaving a trail of smoke against the sunsetDefense

Vance presses Trump on Iran war intel as US missile stockpile fears mount

Container ship at industrial harbor, with cranes loading goods that drive the global trade flows central to US tariff policyUS Politics

Stanford's Fingar calls Trump tariff policy a complete failure ahead of Xi summit

Industrial crude oil tankers under loaded draft on the open seaMarkets

Saudi Aramco trims June Asia crude prices by $4 a barrel as supply jitters cool

Close-up of an AMD Ryzen processor held against a yellow backgroundTechnology

AMD beats on Q1 as data-center revenue jumps 57%, lifting AI chip rally

A person holding multiple Indonesian Rupiah banknotes, the currency that fell to a record 17,445 to the dollar before Bank Indonesia tightened FX rulesMarkets

Rupiah hits record low as Bank Indonesia tightens FX rules for third time in two months

Big Ben and the Houses of Parliament in Westminster, London, under a blue skyPolitics

UK voters head to polls in local elections that could hasten Starmer exit

Aerial view of the Bank of England on Threadneedle Street in the City of LondonMarkets

Why Thursday's UK local elections matter for global bond markets

Front view of the White House North Portico in Washington, with lawn and central fountainUS Politics

Republicans seek $1bn for Trump ballroom security in ICE funding bill

Operators in a control room monitoring multiple surveillance and data feedsDefense

Pentagon awards Scale AI a $500m contract to sift battlefield data

Blue-lit server rack in a data center, the hardware environment that Arm's new AGI CPU is designed to displace from x86 platformsTechnology

Arm beats on Q4 but stumbles on AGI CPU supply as $2bn data center orders pile up

Aerial view of an oil tanker on open oceanWorld

US fires on Iranian oil tanker as Trump threatens 'much higher' strikes if talks fail

Close-up of a U.S. gasoline pump display showing per-gallon price and 87 octane fuel gradeEconomy

Treasury hikes Series I bond rate to 4.26% as inflation jumps to 3.3%

Tokyo stock-market display board showing rising prices, illustrating the Nikkei's record close above 62,000 on ThursdayMarkets

Nikkei tops 62,000 as Tokyo leads Asia rally on Iran peace hopes and AI chip surge

Front view of the United States Supreme Court building on a sunny dayUS Politics

Republican-led states race to redraw maps after Supreme Court guts Voting Rights Act