Treasury yields tumble for a second day, with 10-year rate below 3.6%

Treasury yields fell across the board for a second day Tuesday as traders weigh actions from central banks going forward and The benchmark 10-year Treasury was last lower by 7 basis points at 3.581%, after having surpassed the 4% mark last week. The yield on the policy-sensitive 2-year Treasury fell 7 basis points to 4.031%. … Read more

Challenges to Biden’s student loan forgiveness plan put relief at risk

At least three challenges have been filed so far On Sept. 27, Frank Garrison, an attorney working for a conservative legal group, brought the first legal challenge to Biden’s plan, arguing that forgiveness would cause him personal injury in the form of a state tax bill. Canceled student debt can be considered taxable income. Although … Read more

Turkey inflation hits 83%; Erdogan vows to keep cutting rates

Exchange rates information at a currency exchange bureau in Istanbul, Turkey, in June. Inflation for the country of 84 million people has soared in the last two years, in particular as Turkish President Recep Tayyip Erdogan insists on continuing to cut interest rates rather than raise them — deviating from the conventional way of controlling … Read more

10-year and 2-year Treasury yields fall as traders await PMI data

The yields on the 10-year and 2-year Treasurys fell on Monday as markets began a new quarter and investors looked ahead to the release of Purchasing Managers’ Index (PMI) data for the manufacturing sector. The benchmark 10-year Treasury was down 1 basis point to 3.7926% at around 4:30 am ET. The yield on the policy-sensitive … Read more

Credit Suisse is not about to cause a Lehman moment, economist Sri-Kumar says

Worries are mounting over Credit Suisse’s financial health — but that doesn’t mean markets are headed toward a “Lehman moment,” said the president of Sri-Kumar Global Strategies. “I think the Federal Reserve is going to have to face the consequences of a credit event” if it were to occur, Komal Sri-Kumar told CNBC’s “Squawk Box … Read more

‘The Fed is breaking things’ – Here’s what has Wall Street on edge as risks rise around the world

Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images As the Federal Reserve ramps up efforts to tame inflation, sending the dollar surging and bonds and stocks into a tailspin, concern is rising that the … Read more

Fed Vice Chair Brainard warns against retreating from inflation fight prematurely

US Federal Reserve board member Lael Brainard speaks after she was nominated by US President Joe Biden to serve as vice chair of the Federal Reserve, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, US, November 22, 2021. Kevin Lamarque | Reuters Federal Reserve Vice Chair Lael Brainard … Read more

Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALE. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates, … Read more

10-year Treasury yield tops 4%, soaring to 14-year high

The benchmark 10-year Treasury briefly topped 4% on Wednesday, reaching levels not seen since 2008, as markets took in Federal Reserve speaker commentary that hinted at further interest rate hikes. The yield on the 10-year Treasury was up 3 basis points to 3.9945% at around 4:20 am ET. Earlier in the day, it rose as … Read more

3 charts that show the UK’s market meltdown

Pound plunge Sterling’s response to the government’s announcement was near-immediate and extreme. The pound lost nearly 3.6% against the dollar Friday and continued to fall Monday when the market reopened. It hit an all-time low below $1.04 early Monday morning in London. It has since recovered slightly, trading around $1.08 at 8:30 am Tuesday, but … Read more