As government bond yields climb, mortgage rates in the United States have surged to their highest level in over a year, delivering another blow to the domestic housing market. Freddie Mac said Thursday that the average rate for 30-year fixed-rate mortgages rose from 6.66% the previous week to 6.71%. A year ago, the rate stood […]
Some of the largest U.S. asset holders have little protection against a weakening dollar, leaving the currency vulnerable to sharper declines if market sentiment shifts abruptly. As of June 30, investors in markets including Japan, Canada, and Taiwan had hedged only 41% of their foreign exchange risk exposure—the lowest level since at least 2015. By […]
Escalating attacks in the Middle East and growing inflation concerns have intensified market expectations of interest rate increases, pushing bond yields higher. Market odds for a Federal Reserve rate hike at its September meeting have now risen to around 67%. On Tuesday, the United States launched a new round of airstrikes targeting sites in Iran, […]
The White House, under President Donald Trump, called it “the largest oil deal in history”: the United States has reached an agreement with Venezuela to gain control over more than 65 billion barrels of the country’s crude reserves. According to a fact sheet released by the White House on Monday, this agreement—despite criticism from Venezuela’s […]
The United States and Iran have clashed for the first time in nearly a month, with U.S. forces striking Iranian rocket launchers and Iran retaliating by launching missiles toward Jordan. Colonel Tim Hawkins, spokesperson for U.S. Central Command, said Sunday that Iran was preparing to fire rockets carrying mines into the Strait of Hormuz. He […]
Federal Reserve Chair Kevin Warsh will deliver his first major speech since taking the helm of the world’s most influential central bank, delivering the opening address on Friday morning at 10 a.m. New York time. The event is gradually becoming a crucial test of his commitment to more concise communication. Fed watchers are hoping the […]
Nvidia’s optimistic sales forecast boosted stock and futures prices, reinforcing investor optimism that this year’s artificial intelligence rally still has room to run. Nvidia shares rose 4.7% in after-hours trading after the company projected strong revenue growth through 2028, lifting other AI-related stocks including Marvell Technology Inc. and Sandisk Corp. Futures for the tech-heavy Nasdaq […]
After five days of gains, gold prices have consolidated as investors shift focus to the Federal Reserve’s interest rate path ahead of this week’s annual Jackson Hole meeting. Gold eased slightly to around $4,650 per ounce, down from a three-month high hit in the previous session. However, it still rose about 7% last week, driven […]
Following reports that the Treasury might use part of its cash reserves (TGA accounts) to repurchase less liquid U.S. Treasuries, Treasury Secretary Scott Bentsen has not issued any further signals regarding reforms to U.S. debt management. The latest update shows that at a press conference on Monday, when asked whether bond buybacks would soon increase, […]
U.S. Treasury Secretary Bessent said last Thursday that he would implement a “bond adjustment” policy by buying large amounts of long-term U.S. Treasury bonds—requiring the sale of more short-term securities. This echoes the Federal Reserve’s famous bond yield adjustment program from the 1960s. Bessent noted that current yields have deviated from their “equilibrium” levels. Treasury […]