tgrmike
05-11-2005, 06:47 AM
Major markets in Asia (http://edition.cnn.com/2005/BUSINESS/05/10/japanstocks.wednesday.reut/index.html) closed lower Wednesday while major European (http://money.cnn.com/markets/world_markets/) markets were mixed in early trading.
Treasury (http://money.cnn.com/markets/bondcenter/) prices were little changed, with the 10-year note yield at 4.20 percent.
The dollar (http://money.cnn.com/markets/currencies/) lost ground on the euro and the yen Wednesday after a report out of China suggested that country may revalue the yuan higher as soon as next week, although the report was denied by Chinese officials. The Chinese currency has been pegged to the dollar.
The report about a higher valued yuan also sparked a gain in U.S. stock futures on anticipation that U.S. goods would be more competitive with Chinese goods, and the risk of the Congress passing trade sanctions against China would be reduced.
http://money.cnn.com/2005/05/11/markets/stockswatch/index.htm
Treasury (http://money.cnn.com/markets/bondcenter/) prices were little changed, with the 10-year note yield at 4.20 percent.
The dollar (http://money.cnn.com/markets/currencies/) lost ground on the euro and the yen Wednesday after a report out of China suggested that country may revalue the yuan higher as soon as next week, although the report was denied by Chinese officials. The Chinese currency has been pegged to the dollar.
The report about a higher valued yuan also sparked a gain in U.S. stock futures on anticipation that U.S. goods would be more competitive with Chinese goods, and the risk of the Congress passing trade sanctions against China would be reduced.
http://money.cnn.com/2005/05/11/markets/stockswatch/index.htm