So the trilogy is complete, and it is magnificent. The portrait of Thomas Cromwell that began with Wolf Hall (2009) and continued with Bring Up the Bodies (2012) now concludes with a novel of epic proportions, every bit as thrilling, propulsive, darkly comic and stupendously intelligent as its predecessors. “Concludes” is perhaps not the word, for there is no tone of finality. Cromwell, Lord Privy Seal, deputy head of the church in England, chief minister, second man of the realm, Cremuel, my...

(Bloomberg) -- Treasury bills are suggesting that the agreement between the Trump Administration and congressional leaders on an extension of the U.S. debt limit doesn’t signal the end of the political drama. Suspending the debt limit for three months will still likely continue to constrain Treasury’s borrowing through the rest of the year, at a time when it expects to issue $501 billion in net marketable debt with an end-December cash balance of $360 billion, up from its current level of $32...

While the storm surrounding Eonia has come and gone, its sudden spike higher in late November is raising fresh questions over how to replace Libor and its variants, the ubiquitous borrowing benchmarks set to be phased out. Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership. Your access to unlimited Treasury & Risk content isn’t changing. Once you are an ALM digital member, you’ll receive: Critical Treasury & Risk information...

The U.S. Treasury on Tuesday sold $179 billion of securities as it works to rebuild its cash balance, with yields at its auctions of three- and six-month debt rising to levels unseen since 2008. Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership. Your access to unlimited Treasury & Risk content isn’t changing. Once you are an ALM digital member, you’ll receive: Critical Treasury & Risk information including in-depth analysis...

The U.S. Treasury has sold $179 billion of securities as it works to rebuild its cash balance, with yields at its auctions of three- and six-month debt rising to levels unseen since 2008. The government began on Tuesday by auctioning $51 billion of three-month bills at a yield of 1.64%, 6 basis points more than similar-tenor debt sold on Feb. 12, and $45 billion of six-month bills at 1.82%. All told, the offerings saw decent demand, given the market is facing a deluge of sales following the...