Ten-Year Note Auction Attracts Modestly Below Average Demand
After yesterday’s announcement of the results of its three-year note auction, the Treasury Department revealed on Wednesday that its auction of $41 billion worth of ten-year notes attracted modestly below average demand.
The ten-year note auction drew a high yield of 1.155 percent and a bid-to-cover ratio of 2.37.
The Treasury sold $38 billion worth of ten-year notes last month, drawing a high yield of 1.164 percent and a bid-to-cover ratio of 2.47.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The ten previous ten-year note auctions had an average bid-to-cover ratio of 2.43.
On Thursday, the Treasury is due to announce the results of this month’s auction of $27 billion worth of thirty-year bonds.
Eicher Motors Q3 net profit flat at ₹488 crore
Royal Enfield sold 1.99 lakh motorcycles, marking an increase of 5% over the year-earlier period.
Eicher Motors Ltd. reported standalone net profit for the third quarter ended December remained almost unchanged at ₹488 crore.
Total revenue from operations rose 19% to ₹2,804 crore. Royal Enfield sold 1.99 lakh motorcycles, marking an increase of 5% over the year-earlier period.
“As of December, the company was producing 75,000 units per month,” Vinod K. Dasari, CEO, Royal Enfield, told the media.
“This quarter has been encouraging as we have exceeded pre-COVID-19 production levels and had our best-ever December performance till date. Our long term goal is to have at least 20% of revenue coming outside India,” he added.
“While we have been able to stabilise our supply chain to some degree, there are still a few issues with erratic supplies, as well as increase in logistics and commodity costs. The demand has been steady and our bookings have stayed strong for the entire quarter,” he said.
“We want to be a global player and be present in all the major markets,” said Siddhartha Lal, MD.
Govt. pegs AI provisional loss for FY20 at ₹7,982 cr.
‘Carrier incurred ₹2,570 cr. loss in Q1’
Air India incurred a loss of ₹7,982 crore in the financial year 2019-2020, according to provisional figures shared by the government in Parliament.
The national carrier also incurred a loss of ₹2,570 crore in the first quarter of the current fiscal, when there was a nationwide lockdown and flights were grounded, against a loss of ₹785 crore in the comparable period of the previous fiscal, Minister of State for Civil Aviation Hardeep Puri told the Rajya Sabha on Wednesday.
The government helped the debt-laden carrier in multiple ways to sail through the year, which included a guarantee support of ₹964 crore to enable the airline to raise new loans for its working capital requirements.
The government also extended its existing guarantee of ₹6,693 crore and $819 million for refinancing of aircraft bridge loans. Additionally, the airline had also been provided a National Small Saving Fund loan of ₹4,500 crore.
South Korea to approve use of AstraZeneca COVID-19 vaccine for all aged 18-plus
SEOUL (Reuters) – South Korea’s drug safety ministry on Wednesday said it will approve use of AstraZeneca PLC’s COVID-19 vaccine for all people, including those aged 65 and over.
The AstraZeneca shot, co-developed by Britain’s Oxford University, is the first vaccine to be granted approval in the country.
Pedestrian killed in collision with car on Hampden Avenue Monday night
An adult woman died late Monday night following an auto-pedestrian crash in Denver.
A vehicle collided with a pedestrian in Denver’s Hampden South neighborhood in the 9100 block of Hampden Avenue.
The vehicle did stay on the scene of the indecent but Denver Police are still asking those with information to call 720-913-7867.
No identifying information on the woman has yet been released.
SoftBank to invest $900 million in gene sequencing firm Pacific Biosciences
(Reuters) – SoftBank Group Corp will invest $900 million in gene sequencing firm Pacific Biosciences of California Inc in its latest healthcare investment, the company said on Wednesday.
Fed's Powell: 'Still far from a strong job market'
Federal Reserve doesn’t have the tools to address inequality: Strategist
Quill Intelligence LLC CEO and chief strategist Danielle DiMartino Booth, Walser Wealth Management President Rebecca Walser and Ladenburg Thalmann Asset Management CEO Phil Blancato discuss how the Federal Reserve’s actions can affect the U.S. markets, economy and citizens’ daily lives.
Federal Reserve Chair Powell, in prepared remarks to the Economic Club of New York, warned the U.S. job market is fragile.
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Noting the economy is still far from a strong job market and that employment is still worse than at the worst point of the Great Recession.
He also cautions the unemployment rate, which dipped to 6.3% last month, should be closer to 10%.
France reaches 1.92 million first injections of coronavirus vaccine
PARIS (Reuters) – The French Health Ministry said on Monday that 1.92 million people had received a first injection of the COVID-19 vaccine since the start of the vaccination campaign, while 296,265 second injections had been administered to date.