john gress

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Barack Obama: A presidency in pictures

Barack Obama has reached the end of his consequential eight-year presidency. As the nation’s first African-American commander in chief and his wife prepare to leave the White House behind, Yahoo News takes you through his two terms — the exultation over the raid that killed Osama bin Laden, the heartbreak of the massacre of children in Newtown, Conn., the tumultuous implementation of the Affordable Care Act, the controversial Iran nuclear deal, the outreach to Cuba, and many other signal moments and policies.

There are also many quiet, behind-the-scenes snapshots, family time with first lady Michelle Obama and daughters Sasha and Malia, and the unforgettable photo of the little boy who asked to touch the president’s hair. Through triumph and tragedy, these are some of the moments that exemplified the Obama era. (Olivier Knox/Yahoo News)

(Photos: Pete Souza/The White House[2], Larry Downing/Reuters, Pete Souza/The White House[2], John Gress/Reuters)

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See the rest on Yahoo News.

See more of our inauguration coverage here.

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Obama bids his final farewell to the nation from his adopted hometown of Chicago

President Barack Obama bid farewell to the nation on Tuesday in an emotional speech that sought to comfort a country on edge over rapid economic changes, persistent security threats and the election of Donald Trump.

Forceful at times and tearful at others, Obama’s valedictory speech in his hometown of Chicago was a public meditation on the many trials the U.S. faces as Obama takes his exit. For the challenges that are new, Obama offered his vision for how to surmount them, and for the persistent problems he was able to overcome, he offered optimism that others, eventually, will. (AP)

(Photos: Charles Rex Arbogast/AP, Pablo Martinez Monsivais/AP, Jonathan Ernst/Reuters, Jonathan Ernst/Reuters, John Gress/Reuters)

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See more images from Obama’s farewell on Yahoo News.

Treasurys are tumbling after data beats across the board

(A trader at the CME.REUTERS/John Gress)
The US Treasury market is under pressure on Wednesday following a bunch of better than expected data. CPI, retail sales, and Empire manufacturing all topped estimates, causing sellers to continue their recent attack on the complex. The post-data selling is having the biggest impact on the belly of the curve where yields are up more than 5 basis points apiece. Here’s a look at the scoreboard as of 8:49 a.m. ET:
  • 2-year +2.5 bps @ 1.259%
  • 3-year +4.0 bps @ 1.571%
  • 5-year +5.2 bps @ 2.015%
  • 7-year +5.1 bps @ 2.338%
  • 10-year +4.9 bps @ 2.518%
  • 30-year +4.5 bps @ 3.103%

Wednesday’s selling has run the 2-year yield to its highest point of 2017 as traders price in the possibility of further Fed rate hikes. Currently, the market sees a 42% chance the Fed will hike 25 basis points at its March meeting, according to Bloomberg’s World Interest Rate Probability data. 

Yields have been climbing for much of the past two weeks amid more hope of reflation in the US economy. The benchmark 10-year yield is up almost 20 bps since February 8. 

On Tuesday, in her Humphrey-Hawkins testimony, Fed Chair Janet Yellen warned waiting too long to raise interest rates is ‘unwise’ and could cause a recession. Yellen takes her testimony to the House Financial Services Committee on Wednesday. 

(Investing.com)
 

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