Markets News
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California sold $1 billion of short- term notes to Barclays Plc and JPMorgan Chase & Co. to pay bills after tax collections in the biggest U.S. state by population trailed budgeted amounts, according to the treasurer’s office.
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The yen weakened to a seven-month low against the dollar as the highest yield premium on Treasuries when compared with Japanese debt since August damped the appeal of yen-denominated assets.
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U.S. stocks fell, a day after the Standard & Poor’s 500 Index failed to hold at an almost four- year high, as sales of previously owned houses missed estimates and data from Europe and China spurred economic concern.
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Treasuries rose for the first time in four days on speculation Europe’s rescue package for Greece won’t resolve the region’s debt crisis and as the U.S. sold $35 billion of five-year notes.