the treasury is part of the executive branch. federal reserve is an independent agency, created by congress, with independence of the political pressures from the white house. in that sense, the treasury could not mandate instructions to the federal reserve. chairman thomas p. mccabe believed the fed's role was to restrain inflation. treasury secretary john snyder and president truman wanted the fed to help finance the war. president truman, in his memoirs, described the experience he had in 1917. he bought liberty bonds. he didn't know, and most people didn't know, that those liberty bonds, certainly the series he bought, went up and down with market prices. after the war, interest rates rose, bond prices fell, and many people had to sell bonds below what they paid for them. truman never forgot that experience. he thought the government shouldn't cheat people. truman called the federal open-market committee to the white house for a tongue-lashing. never before had a president tried so directly to influence fed policy. there was

a top treasury official lays out his plan.hen you think of design, you might not think of biology. using both to cure cancer. that is later on "lunch money." ♪ >> the rise of the digital currency bitcoin has raised a lot of questions in washington. is it a currency and currency rules apply? then there is the issue of bitcoin's used for illegal activity. one of the highest ranking officials in the government spelled out what needs to happen to answer those questions. george cohen, treasury undersecretary for terrorism and financial intelligence. >> virtual currencies pose illicit finance risks. most significant is the risk that virtual currencies pose because of anonymity. illicit actors have always sought to exploit anonymity to hide their financial trails, making it more difficult for institutions to detect suspicious activity, identify those involved, and collect transaction records. the basic tools used to weed out bad actors. for terrorist financiers, virtual currencies are appealing. the funds could be swiftly sent across

the established between irs and treasury with policy discussions that go on treasury plays of the rule with the critical rule and one has to inform the other. i can guarantee it will be a full and fair and open it will take a while to go through but everything will be reviewed. that is what should happen. >> but what i am asking do you agree that the commissioner can stop this if he wants to? >> yes. in the role of improving policy as opposed to enforcement actions it is in the domain policy is jointly through the secretary for tax policy and the commissioner and both have a role to play. >> when we get this straight. we have had this situation arises it looks like the irs is used in some people have acted improperly in the air in the middle of an extensive investigation all i unmasking if the commission decides to resolve this matter he has authority to do so? train wreck i tried to answer yes or no does he have the authority we will stop this? >> he does sign off on policy regulations so both have signed off it takes both of them. >> in other words, if he decides they have gone too f

with the regular 30 year treasury you're making that money overtime.re as with the series ee savings bond you need to hang on to the thing for 20 years or you get next to nothing. so say you buy it and need to sell. some unforseen circumstance could happen like you need to lose your job. you wouldn't even be up 2% over 18 years. not up 2% but with a normal treasury if you have to sell before 20 years are up you have still collected your interest payments up until that point. a lot can happen so for most people i think series ee is an insane risk to run. if you're wealthy and there's no chance at all you might need to spend that money then because you pay no state or local taxes you do better. a big better over a 20 year period but for regular people, not the super wealthy, i think the series ee is a very unsafe bond because it's so heavily back loaded. i understand the impulse behind wanting to put your money in a savings bond. we have all been taught how safe it is. there's no risk of losing any of your principal which is a major risk with owning stoc

, of treasuries.governments, sovereign wealth funds around the world. there is a lot of natural demand in the treasuries. the growth in the treasury market is what spurred the growth of the corporate debt market. because there have been these purchases by the federal people intohas sent corporate debt, riskier debt. >> to look for higher returns. >> that's right. >> who is doing this buying up of corporate debt? institutional investors, mom-and-pop investors? >> it's both, it's everybody. you have mutual funds that i for a greater proportion of particular -- that account for a greater proportion of particularly the junk bond market. people who do additionally would go to certificates of deposit and other kinds of safe investments in treasuries are now delving into other asset classes like corporate debt in particular for higher returns. if you think about someone who has retired, trying to live off of their savings to my they need to get something. >> they can't get two percent. and the federal reserv

regulations moving up the chain to the treasury department to become final. in other words, if the commissioner is opposed to the irs regulations and truly committed to restoring the credibility and reputation of the irs, as he claims, he can block the regulations from moving forward. secretary lew, if you approve of those regulation, i must say you're wrong. but can you at least confirm, i'm not saying you do, but can you at least confirm that the irs commissioner has the authority to choose to not approve making the irs targeting regulations final, and that he may exercise that authority free of influence or pressure from treasury and/or the white house? >> senator hatch, i think you and i agree 100 appearance that the irs should be totally apart from politics and i think we all learned in the 1970s of the danger of crossing that line. i also know that the investigations that we have done, in terms of information available to us, i hope this is confirmed by the investigations that you conduct, is that there was no political activity behind the very bad judg

treasury says regulation will support virtual currencies. elon musk takes advantage of u.s. dependence on russian rocket engines. to our viewers here in united states and those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines today. musk'sng details elon hall for the u.s. to reduce dependence on russia in the space program. peter cook, with the latest on russia joining -- on crimea joining the russian federation. busy 24 hours. we had the crisis escalating today when the russian president, after that big speech in front of the parliament in moscow, basically officially absorbing crimea into russia, with a signature on a document. you had western nations condemning that russian action, and promising to respond by stepping up sanctions. they warning the crisis is entering a new, more dangerous phase of live ammunition. the greenlight for that in ukraine. president putin effectively bringing crimea back into the russian fold. kremlinally televised speech where putin defended russia's actions in ukraine. >> the re

so, i don't think you can even go down to 2.5% on the ten-year treasury. same time, look at what else has gone on. yes, we have had some people sell stocks and go into bonds but they have gone into other kinds of bonds, high-yield is doing fine. lopes are doing fine. >> high yield like the stock market? all right. i got to get out of here. abigail dolittle, actually, i never -- i never met stalin. i was alive, but i never met stalin. abigail dolittle, zane brown, john rutledge. thank you all very much. >>> now this could be the final meeting of the kudlow youth summit tonight. our college-aged crew of young adults will tackle the lousy obamacare enrollment numbers and the ukraine crisis, joining me on set right now. stay with us on kudlow. we will be right back. l right in retirement, will you outlive your money? l right uhhh. no, that can't happen. that's the thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created the exclusive.. confident retirement approach. now you and your ameripise advisor can get the r

so are irs and treasury -- >> well, as in most bills, treasury basically pays the bills and the database on a system of our presenting them with information. much the way medicare bills are paid. >> mr. levin, and then we will conclude. >> thank you. well, welcome to i just want to ask that we enter into the record, mr. chairman, the three documents relating to the medicare advantage rates. one from the secretary to the speaker, one, an article from "the new york times," and one letter from beneficiaries. >> without objection they will be entered into the record. >> and also asked that the cbo table on 4015 that will be coming up in the next couple of days with your amendment showing about 13 million people would become more with the uninsured. >> without objection as well. >> thank you spent thank you for your time this morning. appreciate that. with that, this hearing is now adjourned. [inaudible conversations] [inaudible conversations] [inaudible conversations] >> while the u.s. does not officially support taiwan independence, it does conduct trade and maintain diplomatic ties to the

that is, you don't see treasury bills rising at the same pace as you do a 30-year treasury or corporate debt. so we don't oftentimes see all the rates rise together. in fact, if you looked at how the market reacted to janet yellen's comments, the 30-year treasury, the yield on that actually dropped. so even though we saw 2-year treasuries go up in yield, 30-year treasuries went down, it could actually be pretty good for investors who are in some of the longer duration securities. >> so brian, if you want to make some changes in your portfolio, what areas should you go into? you heard dominic's package. he was talking about financials and also technology stocks. i know those are big areas. but do you agree with that and also what else would you add on the list? >> it all depends on the context. i disagree with the financials. mainly in this environment banks are effectively borrowing for very low interest, effectively for free and lending at a higher rate. when interest rates do begin to rise, i don't think we're going to see those lending rates rise as quickly as the bank's borrowing ra

treasury rates actually developed. people bailed out of commercial paper and said i want to be in treasury security. maybe they're not very good long term but on a short term basis, if you buy a treasury security, what it means, if government promises to pay a hundred dollars, they will pay me a hundred dollars. what it will buy, that's a different question. i'll get my hundred dollars at least. you can see the same developments. the run on northern rock. the run on the money market fund. these things had implications through financial markets. the reason i mentioned those two things, the key speck -- aspect of the financial crises, people couldn't figure out who was solvent on who was not. because they were holding these collateralized debt operation and they weren't sure what they were. people were concerned about the solvency of institutions. that made them concerned about lending. the run on northern rock, got people concerned. northern rock dead not hold the securities by the way. government investment funds in th

it went to the treasury department. when it was being worked on in the irs to when you get to speed on february 14, are you saying basically we started over to answer the subpoena you got? >> no, turns out we had already provided significant information on all of the categories of the subpoena. at february subpoena asked what? >> of your subpoena asked for all e-mails, all documents related -- >> a significant mean all? >> now, we provided -- we said we'll continue to work with the committee to provide other documents. >> this is where it gets to the point of understanding because this has not been discussed in the last three months. this has been going on for coming up a year now it has been discussed and understood and talked about, especially as it had targeted around several individual, lois lerner been one of them that is is not a storyline. it's the factors information wanted to come information requested and you made a statement earlier and said the public needs to feel satisfied about what's going on. do you thi

treasurys. >> u.s. treasurys, yes. adam: swiss accounts so the irs don't get you.hank you. >>> st. patrick's day do you have a pep in your step today? ouryou're not alone. we will hear from the founding producer of river dance as the show tours the country. cheryl: get your tap shoes on. also this. more gloom than boom of housing. confidence issues plaguing the nation's largest homebuilders. we'll hear from the ceo jerry howard exclusively. that is coming up next. [ telephone rings ] [ shirley ] edward jones. [ male annncer ] with nearly 7 million investors... oh hey, neill, how are you? [ male announcer ...you'd expect us to have a highly skilled call center. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing. [ male announcer ] and we do. ♪ see what's new at projectluna.com so i can reach ally bank 24/7, but there ar24/7.branches? i'm sorry, i'm just really reluctant to try new things. really? what's wrong with trying new things? look! mommy's new vacuum! (cat screech) you feel that in your m

very interesting to hear from a treasury official about this, isn't it?have been some real questions in washington about how do you regulate bitcoin? is it in fact a currency? what we have heard consistently david:e government and -- david cohen is one of the highest-ranking officials to spell it out. he says there's an opportunity for bitcoin to be a good day, something u.s. entrepreneurs can take advantage of. but we are going to demand transparency and the same rules of the road at we demand for other currencies for other markets. >> we were asking him if he thought he could regulate the coin with existing -- existing legislation. listen to what he said about how to regulate bitcoin. >> where we are today, we are very comfortable we have the appropriate regulatory tools in place.o stop -- tools in but just as the industry evolves, we will look at our regulatory approach and evolve to ensure we are staying at least abreast of the risks that may be developing? >> the bottom line is he was saying today the way they are regulating bitcoin is at the entry a

is there danger in piling into treasurys right now? >> of course there is danger moving into anything too quickly. i think over the course of the last several days more of what we see has really been driven by economic trend, right? we've seen a lot of evidence of slowing growth in china. as we've seen numerous times over the course of the last years that's a huge catalyst for global activity everywhere. i think at love trade and positive movement in treasurys this last week has been driven by that factor and not driven by headlines of ukraine. david: aeropostale is down nine teen%. retailers are taking hard for the week. some people say it is weather. there are other headwind beside the weather, aren't there, retailers? >> there are tremendous headwind with retailers like aeropostale. a retail remembers taking it on the chin and we're looking forward to that as well. higher taxes, more health care costs and big box stores are having to watch out for the margins. the internet is doing a phenomenal job of doing a seismic shift in how pe

treasuries. u.s. has never defaulted on its debt so there will be more than treasuries. there is a guarantee but you are subject to risk in terms of ukraine's own ballot seat -- balance sheet. the risk is higher. but it has been done most recently in tunisia five months ago. the u.s. guaranteed their seven-year bonds. 60 basis points. that is the gap from treasury and what the yield on their bond and the year before last, it was done in jordan and the gap there is 70. >> is a fascinating gift to be able to be able -- gift to be able to give a guarantee on bonds when ukraine and the government there as been calling for billions of pounds in international assistance. if you cannot quite get the cash -- >> pony it up any way you can. there is a little effect so you see yields on all kinds of bonds, including ones not guaranteed by the united states. yields generally do go down when you have these loan guarantees. you get an effect where everyone is more prepared to open up their wallets than it would be if you did not have one. >> the interim prime minister meets obama toda

in terms of treasuries, we saw a bit of a reversal. prices are down now.e rising for the first time in four days. yields have been falling all this week. earlier this morning as well on concern about china's growing economy. overnight we got data from china that shows industrial output in a retail sales, fixed asset rose but it signaled a slowdown from what economists were looking for. taking a look at gold prices. gold is already lower before the 8:30 number and extended its loss a bit, trading lower. keep in mind, when you look at the longer term chart of gold, just to go but six months, it is still treading around its highest since early september. gold for the year 2014 is up 14%. one individual stock where watching this morning is general electric. it filed an ipo of its north american finance. register to sell $100 million of shares in any offering an expected to be completed by the end of the year. the firstenergy is taking toward paring down its assets in the retail finance divinity -- the first step it is taking toward paring down its assets in th

treasuries,h treasuries have ballooned in the past six years. buyers, now they are slowing their purchases and homegrown investors are picking up the lisa brahm of its is joining me. >> there is incredible growth in the market. ballooned tot has $12 trillion. the chinese and the japanese were responsible and bought a lot of the bonds of the u.s. issued. 2010, china accelerated i-30% each year. they have bought much less. japan is slowing their purchases as well. the reason why we care is because if demand slows, the question is could yields ride more -- rise more? that is still pretty healthy to support a recovery. >> is still relatively low. if yields and treasuries rise too quickly, that could deteriorate the value of debt across the board. treasury is in a benchmark rate. of this is a very important rate in the market. the concern is that if demand slows too much, this could cause a disproportionate yield to derail the recovery. >> what are investors saying? >> there is a slowdown in foreign purchases. counterintuitively, u.s. investors are p

the treasury. the period following that inflation came down and actually stayed fairly low and stable for the next decade. the period from 1954 to 1964 not bad. i don't want to be accused of only heaping criticism on the fed. it's actually a pretty remarkably stable and low inflation rate during this period. the website that generated these graphs keeps changing the scale on them. it's hard to compare from one graph to another. you have to look at the numbers on the axis to see that inflation is between one and two percent. that's pretty good compared to the previous decades. in the 1960's, the fed started to become more ambitious. the result of that was the peacetime great inflation. where inflation rose up to 8% came back down again and reached double digits. finally the decision was made to put somebody in charge who knew how to fight inflation and that was paul volcker. you can see he dramatically did bring inflation down. but it was a painful experience. the reason it happened was that the fed

they will fed and treasury.tests are certainly capping off a positive week of news for the financial sector. they are benefiting from fed chair janet yellen's statement signaling interest rates could move higher over the next 12 months. that is something the financials will watch. we want to keep eye on the market as well along with the banks today, adam. adam: cheryl, the united states is back in fitch's good graces. the ratings agency taking america off watch negative reaffirming the country's top aaa credit grade. blackrock says investors should turn to muni bonds over the government's debt including 10-year treasurys. he joins us now. peter, are. why are munis returning a better yield than the u.s. 10-year? >> i think there is a couple reasons. one is selloff last year, created a lot of value in asset classes particularly outside of treasurys when rates rose so much. beginning of the year, flight to quality trade. u.s. treasurys are the preferred asset class when there is fear of global tension fake taking p

as the internet edition by the bug reports second the us department of treasury bills overall volume of us debt rose by five point eight trillion dollars in the first place among foreign central banks of china with just ten seconds. the biggest sellers of us that ireland sixteen point six billion dollars. norway nine billion dollars in russia six point eight billion dollars according to the date of the u s treasury department in january russia was a well placed among the largest holders of us debt. on fourteenth of march the liberal amount of years that was registered at seventeen point four hundred and sixty four trillion dollars out of this amount twelve when fifty five trillion dollars is treatable that which can be freely bought and sold. across the world thirty percent of all the banks are planning to change their automated teller machines but two thousand sixteen. as business portal capital but he said reports overall more than two point six million machines are installed globally. it is forecasted that by the year two thousand and two. this amount will rise to three point seve

the treasury.ove lower as investors move in. somethat market pullback, are questioning wether the markets will recover to with all-time highs that we saw just last week. a longer-term drop. tom lee was on "in the loop" this morning. look at whaten we really matters for the next few years, i think it will be corporate balance sheets. i think they have been cautious, needlessly cautious. capital stock needs to be replaced. coming.a caps fan cycle look at consumers, hugely thertant to the economy, deleveraging cycle i think is done. banks are beginning to ease lending standards which have been unusually restrict it the last few years. can see it in measure data. fannie and freddie -- last year the average fight those score for an improved loan was down 13 points from where it averaged from 2009. almost 30 points higher than the early 2000 cost. we have room. >> not all investors have the same bullish sentiment. one man pointed out -- terms easing is done in of more easing. the fed has been talking abo

treasury department dismissing it. undersecretary of treasury saying current regulations are sufficient. this doesn't qualify as a currency. what do you think, they're dismissing it too easily. >> it is not money. it changes too much in value and not useful. imagine getting paid in bitcoin. melissa: it is not going away. it is getting traction. >> it underscores people don't trust the dollar. people are looking for alternative currencies. one of the things i think you see in the next congress removing some of the barriers to having alternative currencies in this country. melissa: james, what do you think? >> i'm starting to think about it coin can not be killed. melissa: yeah that's what i think. >> largest exchange collapses, various people associated with it are charged and arrested. the identity still not established from the person who created it. what it is you have to respect this demand for another currency option. melissa: yes. >> as we see the fed creating more and more money. and also a new payment system. i

naturally, you will get higher interest rates into your treasuries and three year treasuries and cd ratesbe a little bit higher. the economy seems just strong enough that we should be able to do that barring some catastrophe. >> you look at a one-year chart of the 10 year treasury yield and this thing over the past eight months has been incredibly consistent. what actually breaks us out of that? it will be a somewhat faster gdp growth and secondly, it's this idea that inflation will continue to creep higher. one thing we have noticed is the housing market has turned a corner and continues to climb a little bit. that means that core inflation which is what the fed looks at continues to push a little bit higher. we think it will be just enough 20 15 or 2016n will address. >> i think a lot of people don't they have a dual mandate. the balance sheet gets bigger and bigger. >> it keeps exploding. you drew links between that and how wordy the fed statement has gotten. the alanbe carrying on greenspan style of op the station -- of obfuscation. >> the statement has gotten very wield a. the correl

leal brainard served as undersecretary of international affairs at the treasury from 2010 to 2013. dr. bernard previously served as deputy director of the national economic council and as the u.s. sherpa to the g8. dr. brainard also served as vice president of the ber kins institution and was associate professor of applied economics at m.i.t. sloan school of management. mr. gus tap poe velasquez aguillar is currently director of the latino economic development center in washington, d.c. previously served for six years as the dlum office of human rights. he was also previously the director of the office of latino affairs in washington, d.c., d.c. mr. mark mcwatters currently served as assistant dean for graduate programs at southern methodist university's school of law. previously he practiced for more than two decades as a domestic and cross border tax merger, acquisition and corporate finance attorney. in addition he served as a judicial clerk to the honorable walter eli of the ninth circuit court of appeals. we will now swer in the nominees. will the nominees please rise and rais

saw treasury yields come down as people piled into the us government treasuries, gold jumping prettyxponentially. is this news flow fast and furious and clean enough people can figure out what is going on and jump in to get a little riskier, perhaps? >> gold, $13.60. if the market is above there, we could see 1400 the does not change the fact gold is in a range, the risk premium is built in. the safe haven trade is there. if we see a glimmer of hope there could be some sort of progress as john kerry goes, it will be back to 1320. imagine making new highs. we are prepared to buy the pullback mess and psa have the last two years. >> it could be a real buying opportunity as people wonder what to do, but a little bit more problematic is what is happening the energy complex while natural gas is down, uk natural gas jumped 10%, that is very much getting sort of the heat of what is happening overseas, but again brent shown a real premium between the spread. >> that spread you should throw off the table in this scenario again. this going to affect it, faked in the uk natural gas without ques

people have been selling treasuries. the longest decline for treasuries that we have seen.ore about going on in the bond market and fixed income. havelked about what we seen going on. an decision in the stock market. we have seen movement into riskier assets. which is interesting given what has been going on in ukraine and elsewhere globally, given some of the global risks out there. >> our investors are rejecting will doept that ukraine strep the improvement. they're going back into stocks and junk bonds and selling treasuries. they are adding a that we will stay in this week spot. the economy will grow slowly ontoh that we will hold corporate bonds and treasuries and betting that it will increase enough to sustain the companies that have incurred all this debt. we have this situation where people are plunging back into the same trades before the selloff in january. we backds are -- aren't where we were at year-end? with stocks near record high. >> the question is what has changed. people have backed away from expectations of how much yields can rise because there are ques

by the time the fed stops expanding its balance sheet it will hold over $4 trillion in treasury and mortgage backed securities. former chairman bernanke suggested the fed might maintain the size of the balance sheet for some time rather than reducing it. this would mean the balance sheets to purchase those assets would remain in the financial system. rich manned fed president lacker has called these tinder on the books of the banking system. the fed will have to be jij lent to ensure the tools they have identified to manage the wind-down are sufficient to prevent market disruptions. these unconventional monetary tools have in my opinion failed to produce the promised benefits. as noted economists recently observed, over the last four years the share of adults working has not increased and gdp has fallen further behind potential as we would have defined it in the fall of 2009. all that is to say that despite unprecedented amounts of monetary intervention and record low interest rates, businesses have not responded by hiring new workers. dr. yellen, you commented on the need to monitor the cos

treasury yields. after that jump up posted jobs report from 2.73 to 2.82, just coming down a little bit. on the currency markets, not far away from where they were yesterday, remember, we hit that fresh 2 1/2 year high on friday of over 1.39. the u.s./dollar, just over the 103 handle. sterling, 1 .6623. that's where we stand in european trade. li sixuan has the updates out of singapore. >> thank you for that, ross. china markets not able to hold on to their morning gains after the mild drain of 6.3 million from the system. modest gains on the shanghai composite. the shenzhen comp ended flat. elsewhere, cutting its yield on exports, the nikkei 225 still gained 0.7%. otherwise, in australia, a pullback in the business condition survey kept investors cautious. the asx 200 ended on a flat note. as for individual stocks, china's construction and property stocks can rebound while valuations seemed to be attractive after the recent slide. yesterday, china merchants posted a 30% rise in contract signing sales

department of the treasury. he advises the senior economic leadership at the department of treasury and the white house on global markets. and without objection, the witnesses' full, prepared statements are going to be part of record. i'm going to encourage you all to summarize and just use your time to present your viewpoints, and afterwards the members will have five calendar days to submit statements and questions and any extraneous materials for the record. without objection, as member offices were notified last night in light of our tomb con statement -- time constraint, we're limiting to three minutes to help maximize the participation of all the members this morning. .. if i could now go to our ranking member, mr. engel, whose family is originally from the ukraine, mr. engel from new york. >> thank you very much, mr. chairman. deputy assistant rubinrubin. thank you for appearing before the committee today. and for your tireless efforts in support of ukraine. on an issue that is in the forefront of all our

the yield on the treasury goes down as the price goes up.here we are at 264, the yield on the ten-year note today. one of the causes we saw today for our own selling, the euro, as mario draghi, the head of the european central bank, made comments midday, or evening in europe, that were interpreted pretty bearish for the euro. down it went. down went our market in a second push today. and we're down there. keith bliss, you can't find any single reason for this selloff here. does it continue as a result? what do you think is going on here? >> you're right. it's a mall ga mags of a bunch of things. when you have a little tension overseas or in the emerging markets like we saw in january, people tend to forget that we're still trading near the all-time highs. why not take the money off the table, live to trade another day. normally we'd see a bounce on the next day. i'm not so convinced. we're still not oversold in any of the major indexes, in any -- we're not overbought in any of the bond levels. >> we are 2% from historic highs on the s&p 500.

if anything, treasuries have shown us to be a better hedge. i know they've had a pretty similar rally off an oversold condition. i do believe, if you know what hit the fan, i'd rather old treasuries than gold. >> some people think gold is a cure for all that ails them. we have over the course of the last several weeks seen bul lish gold buying, the 20-year long dated treasury etf. i don't think you need to think about this as a hedge. this is a trade on gold. it's that simple. >> if you believe what carter has to say, then this makes sense. i hate gold. i don't think it's an investment. i don't think you ought to be putting money in it. no more of an investment than antique baseball cards. a man has to know his limitations and biases. if i were to do anything in bold that's bullish, i would define my risk because i don't believe the whole story. >> this week scott has a trade to maximize your profits in spy and dan has a trade in linkedin. the web is future. you'll find trader blogs. check it out. here is what's coming up next. >>> pining for

will it be critical to watch the ten treasury? "prior to yellen coming out last week and the fomc, the 10- year went down to 262, it's back up to 275-276. that's the one to watch and you see that increase, again, you start seeing a stronger economy, and the fed might have to put the brakes on whenever it's going to be. the 10-year will tell us when that's going to happen." thank you so much daniel! "you too. thank you." paul eggers is filling in today for chuck coppolla. good morning paul! good morning angie. signed into law four years ago todayand debated everyday since, now only four days remaiin before the individual insurance mandate goes into effect. in today's cover story, we highlight the most controversial aspect of obamacare and hear from some procrastinators who still plan to sign-up. " this is going to take a little while here" since president obama uttered those words at the affordable care act signing ceremony, house republicans voted to repeal the law 54 times while the supreme court voted 5 - 4 to uphold it. there h

treasury says a new tax scam is the biggest it's ever seen. and there's also growing concern identity theft is growing through your medical records. >>> and small giants on market monitor has small cap names he says are poised for big-time gains. all that and more on "nightly business report" for march 21st, 201 2014. >> good evening, everyone. wall street wrapped up an exhausting week with sharp declines and equally intense gains that sent stocks on a wild ride. it began on monday with a crucial vote in moscow to take control of crimea. once the threat of a military confrontation eased up, stocks surged. that rally continued on tuesday, but a day later federal reserve chair janet yellen hinted that interest rates might rise sooner than anyone expected and stocked plunged. investors bounced back on thursday on encouraging economic reports. and finally today, a qaudruple reaching day for options and futures pulled down stocks. but investors had the final say on the week, pushing the dow and s&p up more than 1%. and the s&p even hit a new record

most recently at treasury u at guarding against financial kris bring.work very hard in making sure americans manufacturing in ohio are able to compete in the global economy and are able to borrow to send her kids to college to borrow to buy homes, to protect their savings. this has been really my life's work, and the fed is a critically important place now. probably one of the most important places in terms of making sure americans get back to work. the slack in the economy. is overcome. and credit flows to those who are going to create jobs and create opportunity in the future. >> thank you. mr. chairman, i have one other question. this is to all three fed nominees, including mr. powell. basil has proposed capital surcharges in the range of 1.5 to 2% in the range of standards when she was vice chair of federal reserve, now federal reserve chair yellen said she agreed with governor stein that these capital surcharges should be higher. she says half the higher will help and i quote the future of the the fed. in the too big to fail subsidies and forcing i

this kind of item purchased mortgage assets and treasury bonds may be decreased to fifty five billion dollars. the main criterion according to experts is the state of the labor right. if ever have this year rise in employment exceeded expectations and unemployment decreased to six point seven percent in november two thousand thirteen this indicator was at the level of seven percent central banks in various country since the beginning of this year have increased their investment in treasury bonds of us with thirty billion dollars in comparison with december two thousand thirteen. as the internet edition by doug reports site can be used to fight with the treachery of the overall body matures and grows but i've put a trillion dollars in the first place among foreign central banks of china with japan in second the biggest sellers of us that our ireland sixteen point six billion dollars norway nine billion dollars and russia six point eight billion dollars according to the date of the u s treasury department in january russia was a well placed among the largest holders of us debt. the four

that's from, you know, this three decade build up in treasuries. that is being sort of met with the unwind of quantitative easing is going to put a lot of pressure on fixed income investors. so in a way, the u.s. equity rally is a fear-driven rally, but it's fear of the bond investor and all those bond jitters that we saw last summer, i think those will start coming back, you know, later on this spring. you know, unless we get a noticeable reset lower in u.s. or global gdp or an escalation of macro risks out of the ukraine and china. >> is it a smart play to buy into gold? gold prices are sitting at six-month highs. there was a consistent bearish call going into this year. did you make any money on the gold trade in the last few months? >> yeah. i had been long gold. i sent out a note in january recommending call spreads on the gld. i took some profits on those, but quite -- i actually think there's more to come in gold. and, you know, just to back up a second, sure, this is a ukrainian situation that is putting upward pressure on gold prices there

welcome to the treasury department. i'm with the office of national institutions here at treasury. it's great to have you-all here with us for the first meeting of the new president's advisory council on financial capability. also warm welcome to the members of the council. we are grateful that you have agreed to serve. the subject of financial capability is a priority for the administration, so we look forward to the work of this counsel with great interest. in a few minutes, we'll hear remarks from secretary lew, secretary duncan, sill seala munoz, and director rich cord ray. before i turn it over to secretary lew, let me make a couple points about the work of this council. first, the mission of this council in many ways follows from the work of the previous' president's advisory council on financial capability. that council submit add report to the president which it noted the importance among other things of financial education for our youth and drawing on all resources, private and public, state, local, and federal to advance this agenda. hence the focus on youth with this par

and the treasury department were involved, as well as hhs.es more time to decide if they want to have their own exchanges. insurers will have an extra month to sign people up in the open enrollment time frame for next year. basically, for 2015, they have taken a look at a number of things where there were concerns and complaints. and there may be tweaks. does include a two-year extension on people who were able to keep their noncompliant plans. this is october of last year where people started getting cancellation notices. obama, of course, got tremendous backlash for his comment, "if you like your plan, you can keep it" and people were saying that he was not keeping that promise. so they changed course. they changed it on a state-by-state basis for people to keep their plans. many states did, and now they will have the option through 2017 to have these noncompliant lands that do not follow under the law. they do not follow insurance maternity care. >> it was something that the president said repeatedly, over and over again, in order to get t

there's a fine new book called treasury's war by juan zarate who has a lot of experience of a lot of experience in this and he brings up one case in which intelligence is closely watching the whole terror network someplace but at the same time they have to have a meeting with justice because justices eager to wrap these fellows up and make arrests. one of or the other has to stand down. certainly stayed in dod have their differences and those are famous famous. a thing for citizens we don't always see how many overseas personnel we have that are not military or cia so for example the drug enforcement agency has a remarkable international network which is very active, very smart people. they go through many of the same fine schools in the states that other experts in security do and the fbi has some locations overseas as well and deploys on an ad hoc basis to a lot of crime scenes. there is some stationed overseas and many who go their overseas in a contingency. even the new york city waste department to go back to new york for a minute has a remarkable intelligence organization that

act about the outlook for treasuries this year. take a listen. >> interest rates are creeping up.g at a 10 year government bonds being around 3.4%. there will be a melt up in rates. you are looking in that environment. a lot of investors aren't used to this market. we think we are in the waning days. as interest rates are eroding those rates of return, you are zero. >> lets the were treasuries ended today. in the last hour, you have seen yields up higher. overall, it was a tight range for the market. they are not taking up very big additions. was a little rush into the treasury market. in terms of commodities, you have to look at oil here. moving on u.s. data, u.s. inventory is climbing for the seventh straight week. there's some weakness in the, the. refining capacity is down. they are transitioning from winter into spring. that affects the energy stocks. or on the markets, i'm alex feel. ♪

on the treasury markets, treasury's coming down a little bit, sending yields higher.fed'sead two-day policy meeting. we will have special coverage starting at about 2 p.m. tumbling today to a five-week low on speculation that the sanctions in the u.s. and european union are unlikely to disrupt oil shipment. he also want to highlight a couple of individual movers. new 52-weekitting a high after it reported fourth-quarter profit and revenue that came in well above analyst estimates. the company says results were helped by a new stable price environment and ongoing cost reduction efforts. and shares of irobot are charging higher. the 500 robot is now available for purchase. they give users a physical presence and view into a workplace without actually being there in person. we also have been watching ebay today, which has been under pressure from activist investor carl icon to spin off its paypal unit. colin sebastian has another idea. let's start with your big idea that you think google should be buying up paypal instead of ebay. why? >> we think carl icahn has triggere

selling in the treasury market. on the longer end of the curve. in terms of currencies, the currency world and get a little smaller today. the irs announced it does not consider bitcoin a currency. it will be treated as a pretty. -- as property. if you do prefer youth this the greenback, adam johnson has insight as to why now is the time to buy. >> dollars? this is your moment. the team making the case for the dollar. the bad weather is behind this. can see what has happened with all of the bad data. that is behind us. in theory, we will get an axle ration in the economic data. that should be bullish for the economy and the dollar. argument number two, weakness in asia. default suggests you should be in the u.s. in japan, there will be a new sales tax trying to reduce the budget deficit and debt. in china, we found out that organization is slowing by about two percent. -- 30%. that is bringing the middle class up. that has been knee changing paradigm. not the same story. slowing in asia. that is bullish for the doll

treasuries extended their largest slump this year. in the treasury market to the jobs report event and the stock market. what about earlier markets? we asked commodities broker how they were reacting. was really good. the revisions over the last two months or shocking. you saw a lot of gold investors that stepped out of the market. gold came up to the 1350 level, a key level of resistance. now we are back to a key level of support. the economy is starting to improve. we will see tapering continue and even accelerate. a lot of people shifting out of oil.and into oil pumped up. oil could be the new safety player now. >> from commodities back to stocks, adam johnson is here to tell us how we can use the jobs report to figure out which companies to invest in right now. >> follow the jobs and you will find the growth and stocks to buy. a time for a little insight. the economy generated, created, 100 75,000 new jobs in february. where were they? here's the breakdown. 79,000business services, new jobs created. health care, about 33,000. 28,0