The 6-Month T-Bill Breaches 5%. It Hasn’t Been This High Since 2007.
The rate on U.S. six-month Treasury bills surpassed 5% on Tuesday, reaching its highest level since 2007. That’s good news for investors looking to earn even more on their short-term cash. It’s still not enough to offset inflation, however, which remains stubbornly high even as the latest government data show it slowing. Source link
Steepest Home-Price Declines in Fourth Quarter Were in the West: WSJ
U.S. home prices rose in the fourth quarter from a year earlier, but once-booming West Coast markets were among a growing number of metro areas to post price declines. Source link
Credit Suisse Bank Losses Deepen, Threatening Overhaul: WSJ
Credit Suisse Group AG reported a fifth consecutive quarterly loss and said rich customers withdrew around $100 billion in the fourth quarter, signs that the beleaguered lender has yet to turn the corner. The Swiss bank is trying to recover from scandals and financial losses with a sweeping overhaul. It wants to focus on wealth […]
Home-Buying Companies Stuck With Hundreds of Houses as Demand Slows
Ribbon Home Inc. had a fast-growing business during the housing boom. The New York City-based startup purchased homes with cash on behalf of buyers. Then it sold the homes to the buyers at the same price, plus a fee, once the buyers got a mortgage. This approach made their clients’ offers more appealing, since sellers often […]
Banks Borrow Unsecured Cash at Record Clip While Deposits Flee
MarketsDeposits at U.S. lenders fell in two consecutive quarters last year for the first time in over a decade Source link
Market Rally Stirs Concerns It Could Feed Inflation
MarketsFinanceEconomists disagree about importance of market-driven financial conditions relative to Fed’s interest rates Source link
Oil futures get lift on China demand hopes
Oil futures rose Tuesday, finding support as ongoing hopes a revival in crude demand from China run strong. A devastating earthquake that left thousands dead in Turkey and Syria and Turkey’s Ceyhan oil export terminal, with a capacity of 1 million barrels a day, was expected to be closed through Wednesday, Reuters reported. See: How […]
‘ChatGPT is today’s hand calculator,’ this CEO says
Will you be able to build the next blockbuster videogame at home using ChatGPT? Not so fast, says Take-Two Interactive Software Inc. TTWO, -3.40% Chief Executive Strauss Zelnick. But that doesn’t mean the technology lacks promise. Read: Take-Two stock slips as company plans cost cuts, outlook falls below Street view Zelnick said on his company’s […]
Koch brothers–founded group is pushing Republicans to turn the page on Donald Trump
The late David Koch, who died in 2019, is shown during a speech by then–Fed Chairman Ben Bernanke at the Economic Club of New York seven years earlier. Bloomberg WASHINGTON — A group funded by billionaire Charles Koch will work to support a Republican presidential nominee other than Donald Trump, concluding in a strategy memo that “we need […]
Flying-motorcycle maker loses altitude in stock debut
Aerwins Technology Inc.’s stock lost about 56% of its value on Monday after the blank-check company Pono Capital completed its acquisition of the maker of battery-powered flying motorcycles. Aerwins was valued at $600 million when Pono Capital announced plans to buy the company in September. The stock fell to $5 a share on Monday after […]