|
Bill Cassidy: Republican senator who voted to convict Trump loses re-election bid BBCTrump sent a message by targeting Bill Cassidy. In defeat, Cassidy delivered one back CNNOpinion | Bill Cassidy and America's increasingly broken primary system The Washington PostBill Cassidy loses Senate primary in another major win for Trump PoliticoAn unlikely politician, Julia Letlow could be Bill Cassidy's successor US
|
|
Deadly drone strikes on Moscow ‘entirely justified', says Volodymyr Zelenskyy Financial TimesUkrainian drones hit Russia in massive overnight attack dw.comUkraine conducts large-scale drone strikes on Russia, killing 4 and wounding 12 others NPRLarge-scale Ukrainian drone attack kills three in Moscow region, says Russia BBCA
|
|
In the dark recesses of the economy, price pressures are bubbling up and foretelling another wave of inflation. Is inflation really heading to 5% or 6% again like during the bad days of the pandemic?
|
|
Wednesday's selling carried into Thursday as investors continued to take a risk-off approach to markets following the Federal Reserve's latest policy announcement.
The central bank issued its third jumbo-sized rate increase yesterday and set expectations that it will continue to hike rates over its next few meetings. However, the Fed is not alone in its aggressive stance. Several global central banks have increased their benchmark rates this week in an ongoing effort to tame inflation, including the Bank of England and Switzerland's National Bank, which earlier today issued 50 basis point and 75 basis point rate hikes, respectively. (A basis point is one one-hundredth of a percentage point.)
SEE MORE 10 Best Marijuana Stocks to Buy Now
"Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession," says Edward Moya, senior market strategist at currency data provider OANDA. "Most of these rate hikes around the world are not done yet which means the race to restrictive territory won't be over until closer to the end of the year."
The reaction here at home was a selloff in bond prices, which sent yields on government notes spiking. The 10-year Treasury yield surged 19.2 basis points to 3.704% - its highest level since early 2011 - while the 2-year Treasury yield spiked 12.1 basis points to 4.116%, its loftiest perch since late 2007.
Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
As for stocks, the tech-heavy Nasdaq Composite
|
|
