Treasury yields finish higher, with 10-year rate inching closer to 5%
Monday's selloff in U.S. government debt pushed 10- and 30-year yields...
Monday's selloff in U.S. government debt pushed 10- and 30-year yields further into their highest levels in more than a year ahead of a mid-week inflation update.
The 10-year yield rose to 4.802%, while the 30-year rate advanced to 4.986%. Those were the highest closing levels since Oct. 31 of last year, according to Dow Jones Market Data.
Stocks started the week off mixed: The Dow and S&P 500 both rose while the Nasdaq fell as investors pivoted out of tech stocks and into the energy and materials sectors.
Bitcoin sagged below $90,000 for a brief moment today as investors thought twice about putting their money into risk assets.
Oil hit a five-month high as traders continue to digest the latest round of sanctions against the Russian oil industry.
Glenfarne agrees to develop $44B Alaska LNG project
Alaska Gasline Development Corp. has entered an agreement with Houston-based...
Alaska Gasline Development Corp. has entered an agreement with Houston-based Glenfarne Energy Transition to develop the $44 billion Alaska LNG project, which includes a 800-mile pipeline from the North Slope, a Nikiski export terminal and an onsite carbon capture facility. A final investment decision is expected in the first half of this year, with pipeline operations projected to begin in 2030 or 2031.
Santa Ana winds bring more danger to Southern California
The strong, dry winds that fueled the wildfires last week have returned,...
The strong, dry winds that fueled the wildfires last week have returned, and officials warn the threat of continued spread remains high until Wednesday. At least 24 people have died and over 12,000 structures have been destroyed as of Sunday night. The nation’s top investigators are exploring the possible origins of the fires, including an electrical tower area near Eaton Canyon. The Palisades Fire is 13% contained, and the Eaton Fire is 27%. LAPD is now warning people affected by the tragedy to be on guard against scammers who are “actively targeting vulnerable individuals and families, exploiting their distress.”
Despite a recent push to enforce RTO policies, offices have never been...
Despite a recent push to enforce RTO policies, offices have never been this vacant. Moody’s reported that 20.4% of office spaces in the 50 largest metro areas in the US were empty in the fourth quarter of last year. That represents a new high and a sign that plenty of companies still don’t mind if employees get their work done at home in their pajamas.
Older office spaces—think endless rows of cubicles and the most depressing lighting imaginable—are being knocked down and pushed aside for more modern workspaces near transport hubs that offer coworking spaces, fitness centers, and restaurants. While some companies say the RTO push is about increasing productivity, Resume.org said 1 in 3 business leaders want workers back in the office due to existing lease agreements.
It’s a busy week for Wall Street: Last week’s strong...
It’s a busy week for Wall Street: Last week’s strong jobs report has investors on edge for this week’s inflation data. If Wednesday’s consumer price index report comes in higher than expected, the Fed might put its already cooling plans for rate cuts on ice. It’s also the start of Q4 earnings season: Big banks JPMorgan, Goldman Sachs, Wells Fargo, and Citigroup kick things off on Wednesday, while Bank of America, US Bancorp, Morgan Stanley, and PNC Financial release their numbers on Thursday.
JPMorgan Chase is reportedly dealing with backlash to its RTO mandate. Per the Wall Street Journal, the company shut down the comments on an internal post about the decision when employees expressed their dismay about the end of hybrid/remote work.
Prospect Medical Holdings, which owns more than a dozen hospitals, became the second major hospital system once backed by private equity to file for bankruptcy in less than a year.
Nippon Steel may acquire US Steel after all—the Biden administration delayed an order to abandon the $14.9 billion deal, allowing courts to hear legal challenges to the order.
Walmart has recalled 48-ounce cartons of Great Value Family Size Chicken Broth, which it says was sold at 242 stores in nine states. It is urging consumers to throw out the affected product.
