U.s. Treasury | featured news

Every six months, the Treasury issues a report declaring that China’s currency is undervalued, draining dollars and jobs out of the U.S. economy. And every six months, the Treasury defers action, saying the Beijing government is not manipulating its currency. But with the prolonged slump in jobs, pressure is mounting among American politicians — as well as those in Europe, Brazil and emerging markets — to challenge China, even if that means imposing import tariffs to protect domestic industries and jobs.

Vice President Biden mistakenly claimed Americans own 85% of U.S. Treasury securities during his visit to China.

China and other governments have little choice but to keep buying U.S. Treasury debt to store swelling foreign reserves even after Washington’s credit rating was cut by Standard & Poor’s.

Maybe the cash-strapped U.S. government should start selling iPads. According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That's still a lot of money, but it's less than what Steve Jobs has lying around.

China boosted its net holdings of U.S. Treasurys in May for the second month in a row, remaining the largest foreign holder, according to the Treasury International Capital report.

The spot price of gold set fresh intraday records after Moody's put its long-standing triple-A rating of U.S. Treasurys on review, triggering fresh buying of the yellow metal and prompting bulls to eye a break above $1,600 a troy ounce.

Shares of American International Group Inc fell more than 3 percent on Wednesday after the insurer and the U.S. Treasury sold $8.7 billion worth of stock.

The Treasury department said on Tuesday that automaker Chrysler Group LLC has repaid $5.1 billion in bailout loans and ended its ability to draw a remaining $2.1 billion.

China boosted its holdings of U.S. Treasurys to its largest position in nearly a year during October as it remained the largest foreign holder of U.S. government debt, the Treasury Department said.

Troubled insurer AIG is to repay a $21bn bail-out loan, paving the way for a share sale by the US Treasury.