Vance's Pakistan Trip 'On Hold' After Iran Demands Lifting Blockade Of Its Ports, Talks Appear Off

5Y Auction Tails Despite Jump In Foreign Demand, Yields Hit Session High After a mediocre 2Y auction to start the week's coupon issuance this morning, moments ago the Treasury sold 5Y notes in another average auction. The sale of $70BN in 5 Year paper stopped at a high yield of 3.955%, down fractionally from 3.980% last month, and tailing the When Issued 3.950% by 0.5bps. This was an improvement from last month's 1.4bps tail, but more concerningly this was the 11th tail in a row for 5Y issues. The bid to cover...

After the death of Jason Arday, it is appropriate to examine the academic system in higher education and see why we should not expect it to change.

$139 Million Drug Bust Exposes Broker-Style Cross-Border Trucking Operation By Phil Brink of FreightWaves Canadian and U.S. agencies uncovered a broker-style operation using commercial transportation connections to move illegal drugs. Authorities display evidence seized during Project Bay, including suspected cocaine, methamphetamine and opium. The operation recovered nearly 1.7 metric tons of drugs and 17 firearms. (Photo: Ontario Provincial Police)  Canadian authorities seized nearly 1.7 metric tons of illegal drugs during a cross-border investigation named Project Bay. The haul included suspected cocaine, methamphetamine and opium. Authorities estimated the products’ street value above $139 million....