Markets are now treating UK bonds like Greek and Italian debt

London CNN Business — The pound may have paused its headlong crash towards parity with the US dollar, but the damage to the UK economy sparked by Prime Minister Liz Truss’ huge tax-cutting gamble is still rippling through financial markets. Sterling stabilized early Tuesday to trade near $1.08, bouncing off Monday’s record low of around … Read more

Why a rising 10-year Treasury yield is rattling financial markets as it briefly tops 4%

The 10-year Treasury yield, a vital benchmark that influences a vast array of consumer borrowing costs, traded above 4% for the first time in at least 12 years — the latest move in a rise that’s starting to ripple across financial markets. The rate TMUBMUSD10Y, 3.818% soared to as high as 4.01% early Wednesday — … Read more

Opinion: Reset your retirement calculator now for today’s bleaker stock markets and make sure you’re still on track

When markets are down, you don’t want to look at your 401(k) statement. But with a potential “lost decade” of stock returns creation, you have to at least take a peek, because it’s time to get real about your ability to afford retirement. Economists often point to the fact that stock markets always eventually go … Read more

What rising interest rates mean for your credit, loans, savings and more

Editor’s Note: This is an updated version of a story that originally ran on August 26, 2022. In its continued bid to quash high inflation, the Federal Reserve on Wednesday raised the overnight bank lending rate to a range of 3% to 3.25%. It is the fifth increase by the US central bank in six … Read more

Brace yourselves, the Fed is about to inflict ‘some pain’ to fight inflation — here’s how to prepare your wallet and portfolio

The Fed is ready to bring the pain. Are you prepared? Weeks ago, Federal Reserve Chair Jerome Powell cautioned there would be “some pain to households and businesses” as the central bank jacks up interest rates to fight inflation that’s higher than it’s been in four decades. Powell and other members of the Fed’s Federal … Read more