The speed at which the yield on the 10-year Treasury has climbed has forced investors to re-examine how they value stocks, bonds and every other investment. And the immediate verdict has been to sell them at lower prices.
Stocks and bonds sold off on Thursday after Federal Reserve Chairman Jerome Powell underwhelmed markets by refraining from pushing back more forcefully against the recent spike in Treasury yields.
Banks have less than a year before the Fed has indicated it will stop allowing them to enter into new contracts pegged to LIBOR, a bedrock of the financial system being phased out by global policy makers.
A steady march higher in Treasury yields has been drawing money out of the stock market and leading investors to question the massive run-up in Big Tech valuations.
Under the Paycheck Protection Program, the administration is establishing a two-week window, starting Wednesday, in which only businesses with fewer than 20 employees—the overwhelming majority of small businesses—can apply for the forgivable loans.
Indie Asset Partners customers are upset that the hedge fund, which was supposed to spread out funds to dozens of money managers, instead concentrated the money with a single manager whose performance tanked early last year.
The Federal Reserve says there’s evidence that hiring has picked up in recent weeks, although the job market remains badly damaged by the pandemic.
Bond yields continue to climb, as murmurs of inflation have started among investors and as the economy continues to climb out of the hole that was created by the pandemic.
The episode has been portrayed as a victory of the little guy over Wall Street titans, but not everyone is buying it. Lawmakers from both parties are among the skeptics.
The moratorium on foreclosures of federally guaranteed mortgages had been set to expire on March 31. Census Bureau figures show that almost 12% of homeowners with mortgages were late on their payments.
Attorneys in the Justice Department’s criminal division are conducting a wide-ranging investigation into possible market manipulation from the trading surrounding GameStop, and recently issued a subpoena to Robinhood as part of that, a person familiar with the matter said.
Apria Inc., one of the nation’s largest providers of home health equipment and services, began listing shares Thursday morning on the Nasdaq exchange.
Treasury yields fell after a government report showed that inflation remained tame last month. That’s encouraging for investors because it suggests the U.S. economy will be able to receive more stimulus without overheating.
Federal Reserve Chairman Jerome Powell on Wednesday underscored the Fed’s commitment to reducing unemployment to multi-decade lows, while signaling little concern about the risk of potentially high inflation or financial market instability.
A bill that would require students at public schools to complete the Free Application for Federal Student Aid advanced to the Indiana House after lawmakers approved the measure in a Senate vote Tuesday.
Joshua Smiley, who was Lilly’s second-highest-paid employee, was named CFO in January 2018. Lilly said Smiley also engaged in “inappropriate personal communications” with other employees.
American Resources Corp. is the latest central Indiana firm to jump on the “blank-check company’ bandwagon—forming a shell company that uses public offering proceeds to scoop up an acquisition target.