Business News

The world of negative interest-rates

Welcome to a world of negative interest rates. The European Central Bank moved its bank deposit rate to minus 0.4% today. It also extended its monthly asset purchases to 80 billion euros or $87 billion. A 10-year German Treasury is currently at .182%, a 10-year Japanese Treasury is at minus .029% and the 10-year US Treasury is at 1.87%. (CNBC)
Chinese stocks lost 2% last night, as we got another round of Chinese data. New Zealand announced a surprise cut interest rate cut while South Korea held rates steady. (CNBC)
Vail Resorts is reporting quarterly profits of $117 million. The results surpassed Wall Street expectations. The ski resort operator posted revenue of $599.4 million in the period. Vail Resorts shares have risen almost 4% since the beginning of the year and is up 53% in the last 12 months. (AP)
It is becoming the breakfast for lunch wars. McDonald's is testing an expansion of its all-day breakfast menu. McDonald's all-day breakfast has boosted sales for the chain since its launch in October, but only offers customers a limited number of breakfast items outside of morning hours. McDonald's has been testing a "bigger menu" for all-day breakfast in Oklahoma and North Carolina. (Brand Eating)
Oil is flat at $38.25 a barrel.
Gold is down $11 at $1247 a Troy ounce.

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