There was something of a watershed moment in the $21 trillion US Treasury market. After a period of relentless selling that pushed longer-term yields to their highest levels in a year, Federal Reserve Chair Jerome Powell had one last opportunity to quell investors’ nerves before the central bank’s self-imposed blackout period. Instead, he said that he’s not too bothered by ...

House Democrats are reportedly pressing President Joe Biden to reverse US policy on Cuba once again, returning to the detente that prevailed before Donald Trump took office. Biden should indeed take the first steps towards renewed openness — and put the onus on Cuba’s Communist leaders to respond. As with so many of his predecessor’s policies, Trump was quick to ...

Bloomberg Australia’s government will subsidise 800,000 half-price air fares as part of a A$1.2 billion ($920 million) package to prop up the nation’s ailing tourism industry. To run from April 1 to July 31, the discounted fares are designed to help tourism-dependent regions and should support airlines, hotels and hospitality venues, Prime Minister Scott Morrison said in a statement. The ...