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The ideas pushed by Kimmeridge include divesting California Resources' Huntington Beach acreage in Orange County, which it believes could fetch around $800 million if sold for conversion to residential real estate, according to the sources. Register now for FREE unlimited access to Reuters.com RegisterKimmeridge has also told California Resources it should focus more on its nascent carbon capture and sequestration business (CCS). California Resources was not immediately available for comment. Much of California Resources' oil and gas comes from older wells which have low-but-steady production. California Resources was formed in 2014 after Occidental Petroleum Corp (OXY.N) spun off its California business into a separate entity.
Persons: Lucy Nicholson, Kimmeridge, David French, Daniel Wallis Organizations: REUTERS, Kimmeridge Energy Management Company, California Resources Corp, California Resources, Kimmeridge, Brookfield, Occidental Petroleum Corp, Thomson Locations: Los Angeles , California, U.S, California, divesting California, Huntington Beach, Orange County, Brookfield, New York
Morning Bid: Chill from the East
  + stars: | 2022-08-15 | by ( ) www.reuters.com   time to read: +3 min
People walk by the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 9, 2021. REUTERS/Andrew Kelly/File PhotoAug 15 (Reuters) - A look at the day ahead in U.S. and world markets by Mike Dolan. But in a year of hawkish central banks, it's also a reminder that interest rates can go down as well as up. A big question this week now is whether the red hot U.S. labour market and ebbing mortgage rates helped the domestic U.S. economy weather the chill from overseas. July readouts on retail - both national sales as well as from firms such as Walmart and Target - and housing dominate the week.
Persons: Andrew Kelly, Mike Dolan, it's, Brent, China's, Christopher Waller, Kirsten Donovan Organizations: New York Stock Exchange, REUTERS, Reuters.com Register China, Saudi, Treasury, Walmart, Target, Fed, Thomson Locations: Manhattan , New York City, U.S, Japan, Saudi, New York, China
A man checks his mobile phone as he waits while recharging his Ola electric scooter at an electric vehicle charging station in New Delhi, India, February 12, 2022. REUTERS/Aditi Shah/File PhotoNEW DELHI, Aug 15 (Reuters) - Indian ride-hailing firm Ola Electric plans to start producing electric cars in India in 2024 with a range of up to 500 km (310 miles), Chief Executive Bhavish Aggarwal said on Monday. Ola, which is backed by Japan's Softbank Group (9984.T) and currently makes e-scooters, did not give an investment figure or production target. The company was setting up an electric vehicle ecosystem, aiming to produce cars, two wheelers and batteries all at a single plant in the state of Tamil Nadu, he said. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Manoj Kumar, Editing by David Goodman and Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Persons: Aditi Shah, Ola, Bhavish Aggarwal, Japan's, Aggarwal, Manoj Kumar, David Goodman, Susan Fenton Organizations: REUTERS, Japan's Softbank, Thomson Locations: New Delhi, India, Tamil Nadu
Democrats spent last week swearing that only high earners would be squeezed under their plan to beef up the Internal Revenue Service. A quick analysis from the budget scorer confirms that the audit expansion will ensnare the middle class. The CBO made the point in an Aug. 12 letter to Sen. Mike Crapo , who had sought to bind Democrats to their promise to limit audits to high earners. If the IRS expansion plan “is not about folks who make less than $400,000,” as White House press secretary Karine Jean-Pierre claimed, why not make that clear in the bill? Mr. Crapo proposed an amendment to ensure new audits would exclude taxpayers earning less than $400,000, but Democrats voted it down 51 to 50.
Persons: Sen, Mike Crapo, Karine Jean, Pierre, Crapo Organizations: Internal Revenue Service, Congressional, Office, CBO, White
For 70 years it was the flagship store of venerated entertainment retailer HMV, helping the Beatles launch their first major record deal in 1962. Today this landmark is home to Candy World, one of more than two dozen shabby American-themed stores selling candy and trinkets whose recent mysterious explosion on one of London’s most popular shopping thoroughfares has confounded officials and property experts. Their spread exemplifies the decay of Oxford Street. The mass public hangings stopped in the 1780s, and soon the street reinvented itself as a shopping destination. But today it faces unprecedented crisis, its stores struggling to compete with online retail while coping with crippling overheads — and that was before Covid-19.
Persons: , Dan Neidle, Clifford Chance, , overheads, Stuart Machin, Spencer Organizations: Oxford St, HMV, Beatles, Candy, Oxford, Debenhams, Topshop, Marks, Telegraph Locations: Jolly, Hong Kong
(Reuters) -Malaysia Airlines has signed a provisional agreement to acquire 20 Airbus A330neos to replace its ageing fleet of A330 widebody jets in a deal that also involves aircraft leasing company Avolon. FILE PHOTO: A Malaysia Airlines plane carrying the first batch of tourists arrives at the airport as Langkawi reopens to domestic tourists, amid the coronavirus disease (COVID-19) pandemic, in Malaysia September 16, 2021. The fleet upgrade, which includes purchase rights for another 20 A330neos, comes amid signs of a pick-up in demand for widebody jets after a lengthy downturn. From East Asia to the Gulf, several airlines are renewing widebody fleets as international air traffic recovers from its pandemic lows. Malaysia Airlines, which cut its debt burden by more than half as part of a restructuring agreed with creditors last year, has said it aims to return to profit in 2023 as demand improves.
Persons: Lim Huey Teng, Izham Ismail Organizations: Reuters, Malaysia Airlines, Airbus, REUTERS, Industry, Royce, ” Malaysia Airlines Locations: Langkawi, Malaysia, Avolon, East Asia, Asia, Australia, New Zealand
Chinese developers in 'survival mode' slash property investment
  + stars: | 2022-08-15 | by ( ) www.reuters.com   time to read: +3 min
Summary Property investment in July drops 12.3% y/yNew construction starts fall at fastest pace in almost a decadeBEIJING, Aug 15 (Reuters) - Chinese developers in "survival mode" sharply cut property investment in July while new construction starts suffered their biggest fall in nearly a decade, suggesting the liquidity-challenged sector is not about to turn the corner anytime soon. Wary buyer sentiment has also chilled new investment by developers. Register now for FREE unlimited access to Reuters.com Register"Everyone except state-owned enterprises is in survival mode," said a senior official at a Shenzhen-based developer, speaking on condition of anonymity. In January-July, property investment fell 6.4% from a year earlier, the most since March 2020. New construction starts tumbled 36.1%, extending from a 34.4% drop in the first half.
Persons: Cash, Xi Jinping, Liangping Gao, Ryan Woo, Kevin Yao, Shuyan Wang, Clare Jim, Jacqueline Wong Organizations: National Bureau of Statistics, Reuters, Communist Party, CPC, Thomson Locations: BEIJING, Shenzhen, New
China unexpectedly cuts key rates as economic data disappoints
  + stars: | 2022-08-15 | by ( ) www.reuters.com   time to read: +5 min
"The People's Bank of China is already responding to these headwinds by stepping up support... But with credit growth proving less responsive to policy loosening than in the past, this probably won't be sufficient to prevent further economic weakness." read moreThe property sector, which has been further rocked by a mortgage boycott that weighed on buyer sentiment, deteriorated in July. Property investment tumbled 12.3% in July, the fastest rate this year, while the drop in new sales deepened to 28.9%. BALANCING ACTIn order to prop up growth, the central bank on Monday unexpectedly lowered interest rates on key lending facilities for the second time this year.
Persons: Julian Evans, Pritchard, Nie Wen, Fu, We've, Wang Jun, Wang, Kevin Yao, Stella Qiu, Ellen Zhang, Winni Zhou, Sam Holmes Organizations: National Bureau of Statistics, Capital Economics, People's Bank of, Hwabao Trust, NBS, China, Economist, Thomson Locations: BEIJING, SHANGHAI, China, People's Bank of China, New Zealand, Shanghai, Zhejiang, Yiwu, Beijing
"Our teams assess our policies, training, processes and resources on an ongoing basis to ensure that they are comprehensive," it said. Reuters spoke to about two dozen Dalit tech workers in the United States who said discrimination had followed them overseas. "Significant caste discrimination exists in the United States," said Mayuri Raja, a Google software engineer who is a member of the AWU and advocates for lower-caste colleagues. Google reiterated to Reuters that caste discrimination fell under national origin, ancestry and ethnic discrimination. South Carolina law professor Brown expects no immediate resolution to the debate over of whether companies should reference caste.
Persons: Steve Jobs, Stephen Lam, hasn't, Big, casteism, Kevin Brown, Mayuri Raja, Sundar Pichai, Koray Bulut, Goodwin Procter, Bulut, Dell, John, Paul Singh Deol, Janine Yancey, Yancey, Brown, Paresh Dave, Kanishka Singh, Sudarshan, Kenneth Li Organizations: Steve, REUTERS, OAKLAND, Apple, Cisco Systems, Cisco, Big Tech, University of South, Reuters, IBM, Dell, Facebook, Meta, Microsoft, Google, Alphabet Workers, Consortium, California State University, Democratic Party, Civil Rights Department, Global Social Media, Dhillon, Thomson Locations: Cupertino , California, U.S, Calif, Silicon, India, California, University of South Carolina, Meta, United States, Massachusetts, San Francisco, Carolina, Washington, New Delhi
Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Many investors got stranded with Russian assets, as their value plummeted, buyers disappeared and sanctions made trading hard. The Treasury provided further guidance on July 22 to help settle default insurance payments on Russian bonds. read moreThe price of some Russian bonds has jumped alongside the renewed trading activity since late July. "Some banks and brokers are using this bid to facilitate divestment of Russian positions for investors that want to get out."
Persons: Mike Segar, PIMCO, Gabriele Foa, Davide Barbuscia, Rodrigo Campos, Megan Davies, Paritosh Bansal, Edward Tobin Organizations: Wall, New York Stock Exchange, REUTERS, Reuters, Treasury Department, Treasury, JPMorgan Chase &, Bank of America Corp, Citigroup Inc, Deutsche Bank AG, Barclays Plc, Jefferies Financial Group Inc, Street, Bank of America, Barclays, Citi, JPMorgan, Jefferies, Deutsche Bank, Russia, Goldman Sachs Group Inc, Foreign, Control, Regulators, Global, Reuters Graphics Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Moscow, Ukraine, Russia, Algebris, New York
The projections are part of First Street Foundation's new, peer-reviewed extreme heat model, which shows that most of the country will have upticks in the number of days with heat index temperatures above 100 degrees over the next 30 years as a result of climate change. The heat index represents what a temperature feels like to the human body when humidity and air temperature are combined. As humans continue to pump heat-trapping greenhouse gases into the atmosphere, temperatures around the world are rising, which increases both the frequency of extreme heat events and their severity. The researchers looked at the seven hottest days expected for any property this year and calculated what the equivalent could be in 30 years. Across the country, they found that, on average, a community's seven hottest days are projected to become the location's 18 hottest days by 2053.
Persons: Jeremy Porter, Porter Organizations: City University of New, National Oceanographic, First Locations: City University of New York, Europe, Miami, Dade County
Salman Rushdie's recovery is "headed in the right direction," his agent told The New York Times Sunday. Rushdie was stabbed 10 times in an attack reports say may be linked to Iran's Revolutionary Guard Corps. Rushdie was attacked Friday as he took the stage to give a lecture at the Chautauqua Institution in New York. "The road to recovery has begun," Andrew Wylie, Rushdie's literary agent, said in a text message to The New York Times. "A 24-year-old born in the United States did not come up with Salman Rushdie as a target on his own," a Middle Eastern intelligence official told VICE World News.
Persons: Salman, Rushdie, Khomeini, , Salman Rushdie, Andrew Wylie, Zafar Rushdie, Hadi Matar, Muhammad, Matar Organizations: New York Times, Revolutionary Guard Corps, Service, Iran's Revolutionary Guard Corps, Chautauqua Institution, CNN, NBC News New, Iranian Armed Forces, Islam, NATO Locations: New York, NBC News New York, New Jersey, Bahrain, Saudi Arabia, United States
An aerial view of the PCK oil refinery on which a German embargo against the import of Russian oil is planned, stands on June 29, 2022 in Schwedt, Germany. The United States has expressed concern to India that it was being used to export fuel made from Russian crude, through high-seas transfers to hide its origin, to New York in violation of U.S. sanctions, a top Indian central banker said on Saturday. The United States has expressed concern to India that it was being used to export fuel made from Russian crude, through high-seas transfers to hide its origin, to New York in violation of U.S. sanctions, a top Indian central banker said on Saturday. U.S. sanctions on Moscow for its February invasion of Ukraine prohibit the import to the United States of Russian-origin energy products including crude oil, refined fuels, distillates, coal and gas. "The refined output was put back on that ship and it set sail without a destination.
Persons: Michael Patra, Patra Organizations: United, U.S . Treasury Department, Bank of India Locations: Schwedt, Germany, United States, India, New York, Indian, U.S, Russian, Gujarat, Michael Patra ., Moscow, Ukraine, New Delhi
The onshore yuan eased to a one-week low against the dollar after the PBOC unexpectedly cut key interest rates. New Zealand's kiwi slumped 0.35% to $0.6433, pulling away from Friday's high at $0.6468, the strongest level since June 8. Chinese industrial output, retail sales and fixed-asset investment all fell short of analyst estimates, as a nascent recovery from Covid-19 lockdowns faltered. To support the economy, the People's Bank of China unexpectedly cut a key interest rate for the second time this year and withdrew some cash from the banking system on Monday. Bitcoin last rose 2% to $24,813, bringing it close to Sunday's high of $25,053, a level not seen since June 13.
Persons: Ken Cheung, Thomas Barkin, Tapas Strickland, Strickland, Europe's, Sterling Organizations: New, Federal Reserve, U.S, Australian, People's Bank of, Mizuho Bank ., Richmond Fed, CNBC, National Australia Bank, Federal, Market Committee, Treasury Locations: New Zealand, China, Covid, People's Bank of China, Ukraine
Buildings of a residential compound are seen in Shanghai, China, March 17, 2016. REUTERS/Aly SongBEIJING, Aug 15 (Reuters) - China's new home prices in July were unchanged for a second month as already fragile sentiment was further corroded by a mortgage boycott by homebuyers upset by unfinished projects despite continued stimulus measures. Compared to a year ago, new home prices in July fell 0.9%, the fastest pace since September 2015, and extending a 0.5% decline in June, according to Reuters calculations based on National Bureau of Statistics (NBS) data released on Monday. Already grappling with a debt crisis among developers and weak homebuyer sentiment, China's property market, accounting for a quarter of gross domestic product by some metrics, has been further rocked by a mortgage boycott that erupted last month across the country. Register now for FREE unlimited access to Reuters.com RegisterReporting by Liangping Gao and Ryan Woo; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly Song BEIJING, homebuyers, Liangping Gao, Ryan Woo, Christian Schmollinger Organizations: REUTERS, National Bureau of Statistics, Thomson Locations: Shanghai, China
Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Many investors got stranded with Russian assets, as their value plummeted, buyers disappeared and sanctions made trading hard. The Treasury provided further guidance on July 22 to help settle default insurance payments on Russian bonds. read moreThe price of some Russian bonds has jumped alongside the renewed trading activity since late July. "Some banks and brokers are using this bid to facilitate divestment of Russian positions for investors that want to get out."
Persons: Mike Segar, PIMCO, Gabriele Foa, Davide Barbuscia, Rodrigo Campos, Megan Davies, Paritosh Bansal, Edward Tobin Organizations: Wall, New York Stock Exchange, REUTERS, Reuters, Treasury Department, Treasury, JPMorgan Chase &, Bank of America Corp, Citigroup Inc, Deutsche Bank AG, Barclays Plc, Jefferies Financial Group Inc, Street, Bank of America, Barclays, Citi, JPMorgan, Jefferies, Deutsche Bank, Russia, Goldman Sachs Group Inc, Foreign, Control, Regulators, Global, Reuters Graphics Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Moscow, Ukraine, Russia, Algebris, New York
New Zealand Prime Minister Jacinda Ardern inspects soldiers during an official welcoming ceremony at Admiralty House in Sydney, Australia, March 2, 2018. REUTERS/Dean Lewins/PoolWELLINGTON, Aug 15 (Reuters) - New Zealand is sending 120 military personnel to Britain to help train Ukrainians in front-line combat, the government said on Monday. The deployment will enable two infantry training teams to equip Ukrainian personnel with the core skills to be effective in combat, including weapon handling, combat first aid, operational law and other skills. She stressed that New Zealand troops have not and would not engage in combat in Ukraine. Thirty New Zealand defence personnel completed a deployment in May to train Ukrainian military personnel in operating artillery.
Persons: Jacinda Ardern, Dean Lewins, Lucy Craymer, Robert Birsel Organizations: Zealand, Admiralty House, REUTERS, WELLINGTON, New, Thomson Locations: Sydney, Australia, New Zealand, Britain, Ukraine, Zealand, Russia
Last month, protesters breached the presidential residence and prime minister’s office, and it was the one thing that felt good. At the prime minister’s office, someone played the piano and a shirtless man draped in a Sri Lankan flag slept on a couch. Sri Lanka — like so many other countries struggling for solvency — remains a colony with administration outsourced to the International Monetary Fund. has extended loans to Sri Lanka 16 times, always with stringent conditions. And as much as the West blames Chinese predatory lending, only around 10 to 20 percent of Sri Lanka’s foreign debt is owed to China.
Persons: Couples, Rajapaksa, Ranil Wickremesinghe Organizations: International Monetary Fund Locations: Lankans, Sri, canapes, Sri Lanka, China, Japan
Credit... David Guttenfelder for The New York TimesZAPORIZHZHIA, Ukraine — Increasingly frequent explosions near a vast nuclear complex in southern Ukraine and the shelling of a nearby town where many of the complex’s workers reside have accelerated a civilian exodus from the area. The company said the shelling killed an employee of the Zaporizhzhia nuclear complex and injured two others. While Russia controls the nuclear complex, Ukrainian technicians continue to operate it under increasingly difficult circumstances. The shift boss intended to drive his family out of the area and was considering not returning, Mr. Orlov said. “Nobody knows what’s going on in their heads,” he said of the Russian soldiers stationed at the nuclear plant.
Persons: Natalia Lytvenenko, David Guttenfelder, Dmytro Orlov, Mr, Orlov, ” Mr, , Volodymyr, , Lytvenenko, Oleksandr Organizations: The New York Times, Ukrainian Army, Civilian, ., Plant Locations: Blagoveshenko, Russian, Ukraine, Enerhodar, town’s, Russia, Ukrainian, Zaporizhzhia
The Trump Organization Civil-Fraud Investigation: What to KnowDonald Trump said he invoked his Fifth Amendment rights and declined to answer questions from the New York attorney general at a scheduled deposition Wednesday. WSJ’s Corinne Ramey explains what to know about the investigation into the financial dealings of the former president and his business. Photo illustration: Laura Kammermann
Persons: Donald Trump, WSJ’s Corinne Ramey, Laura Kammermann Organizations: Trump Organization Civil, New Locations: New York
Wall Street revives Russian bond trading after U.S. go-ahead
  + stars: | 2022-08-15 | by ( ) www.cnbc.com   time to read: +4 min
Many investors got stranded with Russian assets, as their value plummeted, buyers disappeared and sanctions made trading hard. In May, two U.S. lawmakers asked JPMorgan and Goldman Sachs for information about trades in Russian debt, saying they may undermine sanctions. The Treasury provided further guidance on July 22 to help settle default insurance payments on Russian bonds. The price of some Russian bonds has jumped alongside the renewed trading activity since late July. "Some banks and brokers are using this bid to facilitate divestment of Russian positions for investors that want to get out."
Persons: Spencer Platt, Goldman Sachs, PIMCO, Gabriele Foa Organizations: New York Stock Exchange, Reuters, Getty, Treasury Department, Treasury, JPMorgan, Bank of America, Citigroup, Deutsche Bank, Barclays, Jefferies Financial Group, Street, Citi, Jefferies, Russia, Foreign, Control, Regulators, Global Locations: New York City, U.S, Moscow, Ukraine, Russia, , Algebris
The greenback edged higher as traders continued to hawkish comments by Federal Reserve policymakers' against signs that U.S. inflation may have peaked. read moreNew Zealand's kiwi slumped 0.6% to $0.64165, pulling away from Friday's high at $0.6468, the strongest level since June 8. The minutes are a risk though, and "may push back on the notion of a Fed pivot," Strickland said. Bitcoin last rose 2.11% to $24,833, after earlier touching $25,212 for the first time since June 13. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kevin Buckland; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.
Persons: Daniel Munoz TOKYO, Ken Cheung, Thomas Barkin, Tapas Strickland, Strickland, Europe's, Sterling, Kevin Buckland, Simon Cameron, Moore Organizations: REUTERS, New, Federal Reserve, U.S, People's Bank of, Mizuho Bank, Richmond Fed, CNBC, National Australia Bank, Federal, Market Committee, Treasury, Thomson Locations: New Zealand, China, People's Bank of China, Ukraine, Ethereum's
Iran says Rushdie and supporters to blame for attack
  + stars: | 2022-08-15 | by ( ) www.reuters.com   time to read: +4 min
Author Salman Rushdie listens during the opening news conference of the Frankfurt book fair, Germany October 13, 2015. REUTERS/Ralph Orlowski/File PhotoDUBAI, Aug 15 (Reuters) - No one has the right to level accusations against Iran over Friday's attack on Salman Rushdie, for which he and his supporters are solely to blame, the foreign ministry in Tehran said on Monday. Register now for FREE unlimited access to Reuters.com Register"During the attack on Salman Rushdie, we do not consider anyone other than himself and his supporters worthy of reproach, reproach and condemnation," Kanaani told a news briefing. Hardline Iranian state media outlets celebrated the attack with headlines including "Satan has been blinded" and some Iranians voiced support online for the stabbing. A Hezbollah official told Reuters on Saturday that the group had no additional information on the attack on Rushdie.
Persons: Salman Rushdie, Ralph Orlowski, Nasser Kanaani, Kanaani, Antony Blinken, Rushdie, Iran's, Ruhollah Khomeini, Ayatollah Ali Khamenei’s, Hadi Matar, Nathaniel Barone, Matar, Ali Tehfe, Khomeini, Qassem Soleimani, Maya Gebeily, Michael Georgy, John Stonestreet Organizations: REUTERS, Iran, Twitter, Chautauqua Institution, Reuters, Islamic Revolutionary Guard Corps, NBC, Rushdie, Dubai Newsroom, Thomson Locations: Frankfurt, Germany, DUBAI, Iran, Tehran, New York, United States, Fairview , New Jersey, NBC New York, Yaroun, Lebanon, U.S, Beirut
Former Malaysian Prime Minister Najib Razak gestures during the break of his court proceeding at the Federal Court, in Putrajaya, Malaysia August 15, 2022. Prosecutors say more than $1 billion in 1MDB funds made its way into Najib's personal accounts. read moreThe Federal Court has scheduled hearings through Aug. 26 to hear Najib's final appeal. Malaysian law allows for a review of Federal Court decisions, but such applications are rarely successful. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rozanna Latiff; Editing by William Mallard and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.
Persons: Najib Razak, Najib, Hisyam Teh, Rozanna Latiff, William Mallard, Mark Heinrich Our Organizations: Malaysian, Federal, REUTERS, 1Malaysia Development, Prosecutors, SRC International, Federal Court, Reuters, Thomson Locations: Putrajaya, Malaysia, Hussain KUALA LUMPUR, Malaysian
REUTERS/Lee Jae-WonORLANDO, Fla., Aug 15 (Reuters) - Hedge funds slashed their long dollar positions and bet harder on a flatter yield curve, two macro trades that have come up trumps. Register now for FREE unlimited access to Reuters.com RegisterThat's a scenario that could keep the dollar under pressure, but re-steepen the curve and get the 10-year yield back above the two-year yield. Funds' net long dollar position against the yen is now just $2.3 billion, the smallest since March last year, and their net short sterling position is down to $2.6 billion. In bonds, the trend remains funds' friend as the 10-year Treasury yield fell as much as 50 basis points below the two-year yield, resulting in the most inverted curve since 2000. A short position is essentially a bet that an asset's price will fall, and a long position is a bet it will rise.
Persons: Lee Jae, Jamie McGeever, Diane Craft Organizations: REUTERS, ORLANDO, Federal, Futures, Reuters, Capital, Treasury, Fed, Citi, Thomson Locations: Seoul, Fla
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