Gold futures mark highest settlement since April 2013

Read Live Updates From Day 2 Of Trump Team’s Arguments In Impeachment Trial

President Donald Trump’s impeachment trial in the Senate continued on Monday with the second day of his defense team’s opening arguments.

The House in December passed two articles of impeachment against Trump ― abuse of power and obstruction of Congress ― stemming from his efforts to get Ukraine to publicly commit to investigating political rival Joe Biden. Trump has denied any wrongdoing.

Democrats are urging the Senate to call new witnesses who have direct knowledge of Trump’s handling of congressionally-approved aid to Ukraine, including former national security adviser John Bolton and acting White House chief of staff Mick Mulvaney. 

Senate Republicans have been reluctant to do so. But an explosive report in The New York Times on Sunday that Bolton believed Trump tied the aid to Ukraine announcing his requested investigations prompted some key GOP senators to say they may vote in favor of calling such witnesses.

Each side in the trial was allotted 24 hours over three days to make their opening arguments. The Democrats concluded their presentation on Friday. After Trump’s defense team wraps up its arguments, senators will have 16 hours to ask questions before voting on whether to call new witnesses.

Read live coverage of Monday’s portion of the impeachment trial below:

Five-Year Note Auction Attracts Below Average Demand

After announcing the results of its auction of two-year notes earlier today, the Treasury Department revealed Monday afternoon that this month’s auction of $41 billion worth of five-year notes attracted below average demand.

The five-year note auction drew a high yield of 1.448 percent and a bid-to-cover ratio of 2.33.

Last month, the Treasury also sold $41 billion worth of five-year notes, drawing a high yield of 1.756 percent and a bid-to-cover ratio of 2.49.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous five-year note auctions had an average bid-to-cover ratio of 2.40.

Looking ahead, the Treasury is due to announce the results of its auction of $32 billion worth of seven-year notes on Tuesday.

Casper slashes its valuation 30 percent ahead of IPO

This unicorn just lost its horn.

Casper Sleep — which was valued at $1.1 billion in a private funding round last spring — slashed its valuation to less than $750 million on Monday as it looks to raise up to $158.6 million from its initial public offering, a new filing shows.

The trendy but money-losing mattress startup — which didn’t give itself a valuation when it first filed for an IPO on Jan. 10 — plans to sell about 8.3 million shares at a price range of $17 to $19 apiece, according to an amended prospectus filed Monday with the Securities and Exchange Commission.

The high end of that price range would value Casper at $744 million. The IPO could grow to a total of roughly 9.6 million shares if Casper’s underwriters exercise their greenshoe option to sell more stock, the prospectus says. In that case the IPO would raise $182.4 million and give the company a value of $768 million at $19 a share.

Casper CEO Philip Krim had sought a $1 billion price tag for the five-year-old company, The Post has reported. But that threshold apparently proved an obstacle for acquisition talks with Serta Simmons and Target, although Target reportedly took a minority stake.

Casper is looking to go public despite recording heavy losses. The company lost more than $67 million in the first nine months of last year on $312 million in revenue, according to its prospectus.

Meghan McCain Dismisses John Bolton Because His Book Title Is ‘Stupid’

Meghan McCain is skeptical of John Bolton’s firsthand account that President Donald Trump tied aid approved for Ukraine to officials investigating former Vice President Joe Biden and his son Hunter.

Her reasoning? She doesn’t like the proposed title of the former national security adviser’s forthcoming book, “In The Room Where It Happened.”

It’s a reference to a song from the Broadway musical “Hamilton,” but McCain wasn’t impressed.

“I think the title of his book is stupid,” McCain said during Monday’s broadcast of “The View.” She added ― twice ― that she thought “Hamilton” scribe Lin-Manuel Miranda should get royalties.

“The View” co-host also questioned why Bolton is now coming forward with firsthand information that supports the allegations at the center of the ongoing impeachment trial.

“It seems very interesting that he’s monetizing this so quickly that the moment it leaks, the web page where you can buy his book goes up immediately,” she said.

You can see the exchange below.

4 teens arrested after high school assault: Hamilton police

Hamilton police have arrested four teenagers following an assault near Bishop Tonnos Catholic Secondary School.

Investigators say there was a large disturbance on Jan. 16 involving multiple students from Bishop Tonnos and St. Thomas More Catholic high schools at a plaza in the area of Pannabaker Drive and Garner Road West in Ancaster.

During the incident, which was captured on video, a 15-year-old boy from Bishop Tonnos was assaulted and suffered minor injuries.

Gold futures mark highest settlement since April 2013

Gold futures on Monday marked their highest settlement in more than six years. Concerns surrounding the spread of the coronavirus fed risk-off sentiment, putting pressure on global stock markets and lifting haven demand for the precious metal. February gold GCG20, +0.43% rose $5.50, or nearly 0.4%, to settle at $1,577.40 an ounce. That was the highest most-active contract settlement since April 9, 2013, according to Dow Jones Market Data.