By John Shaw

By John Shaw

WASHINGTON (MNI) - Senate Majority Leader Harry Reid said Wednesday that the Senate will hold a third test vote at 12:20 p.m. today to formally begin debate on a financial regulatory reform bill.

By Yali N'Diaye

WASHINGTON (MNI) - While the U.S. 10-year yield was trading around 3.70% Tuesday, with U.S. Treasuries benefitting from flight to quality as fears on fears that the Greek crisis could spread, fixed income portfolio managers are still bracing for an increase of the yield to up to 4.75%.

The fact the U.S. recovery is gaining momentum, providing fewer reasons for the Federal Reserve to keep rates "exceptionally low," as well as supply challenges remain the real risks for the U.S. bond market, they told Market News International.

Data for: March 16, 2010 Source: Federal Reserve

SINGAPORE, April 28 (MNI) - The U.S. dollar eased back from early highs against the euro as the single currency staged a modest recovery in Asia Wednesday, although gains in the euro-zone currency were limited.

The U.S. dollar however kept a slightly firmer tone on the yen since the morning, without really making much progress from its midday levels.

SINGAPORE, April 28 (MNI) - The U.S. dollar eased back from early highs against the euro as the single currency managed a weak recovery in the Asian morning Wednesday despite the pall cast by ratings downgrades in Eurozone peripheral economies overnight.

Euro-dollar was knocked back to its lowest mark in almost a year in late U.S. trading hours, hitting $1.3146 after downgrades of Greek and Portugal sovereign ratings by Standard & Poor's prompted widespread risk aversion.

By Courtney Tower

OTTAWA (MNI) - Bank of Canada Governor Mark Carney, in the wake of deepening concerns about the Greek and Portuguese economies, Tuesday said that the risks of global sovereign credit problems are increasing.

World economic recovery could take longer to be fully achieved than has been expected and a main factor in this is the growing debt of many countries, Carney told the Finance Committee of Canada's House of Commons.

By John Shaw

WASHINGTON (MNI) - Senate Republicans again banded together Tuesday and rejected a Democratic motion to formally begin debate on a financial regulatory reform bill.

The Senate voted 57 to 41 to begin the debate on financial regulatory reform. Sixty votes are required to begin the debate.