The current bond-market sell-off, characterized by surging yields, is surpassing some of the most severe market downturns from previous eras. According to Bloomberg, losses in Treasury bonds with maturities of 10 years or more have amounted to 46% since March 2020, and the 30-year bond has seen a decline of 53%. These losses are approaching the magnitude of stock-market declines observed during some of the … Continue reading The collapse in Treasury bonds now ranks among the worst market crashes in history

In September, the nation’s employers unexpectedly added 336,000 jobs, marking the most significant monthly increase since January. This robust job growth demonstrates that many companies maintain confidence in their hiring decisions, even in the face of elevated interest rates and a somewhat uncertain economic outlook. The latest employment figures revealed a notable improvement over the previously reported data, with August witnessing a substantial revision to … Continue reading US employers added a surprisingly strong 336,000 jobs in September

In September, there was a significant surge in job growth in the United States, indicating the continued strength of the labor market and supporting the possibility of the Federal Reserve raising interest rates later this year, although wage growth is showing signs of moderation. According to the Labor Department’s highly anticipated employment report released on Friday, nonfarm payrolls saw an increase of 336,000 jobs last … Continue reading US job growth smashes expectations, raising prospects for rate hikes

Mortgage rates have continued their upward trajectory, registering a substantial increase last week. Consequently, total mortgage demand saw a decline of 6% compared to the prior week, as reported by the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages, within the limits of conforming loan balances ($726,200 or less), rose to 7.53% from 7.41%. This change was accompanied … Continue reading Mortgage demand drops to the lowest level since 1996

In the third quarter, Ford Motor’s U.S. new vehicle sales experienced a 7.7% increase compared to the same period the previous year, primarily driven by higher sales of traditional pickup trucks throughout its product range. On Wednesday, the Detroit automaker reported a substantial 15.3% surge in truck sales, contrasting with a 5.1% dip in car sales and essentially flat sales of SUVs. Ford’s sales growth … Continue reading Ford pickup truck sales lead third-quarter growth

The criminal trial of Sam Bankman-Fried, the former CEO and founder of FTX, commenced on Tuesday, marking a pivotal moment that will determine his future as he confronts seven federal charges related to fraud and conspiracy in connection with the collapse of his cryptocurrency empire. FTX, once the world’s second-largest cryptocurrency exchange with an estimated valuation of $32 billion, took a dramatic turn when it … Continue reading Sam Bankman-Fried’s criminal fraud trial set to launch