The Bank of Japan's loose monetary policy has turned the yen into the world's cheapest and most reliable funding currency, creating a publicly subsidised funding pipeline for bankers.
The tax provides more than $23 billion per year in revenue for federal highway and public transit programs. The federal gas tax has been in place, in one way or another, since 1919 and was last raised in 1993.
The proposed rule establishes broad principles to guide the determination of whether state-level stablecoin regulatory regimes are 'substantially similar' to the federal framework, allowing smaller issuers to remain under state supervision.
USHY seeks to track the investment results of the ICE BofA US High Yield Constrained Index, composed of U.S. dollar-denominated, high yield corporate bonds, providing broad exposure in a low-cost wrapper.
"Oil prices are higher again this morning, but Treasury yields are lower as the risks to economic growth begin to take precedence over the risks to inflation," Oxford Economics said in a note on Monday.
Escalating geopolitical risk continued to dominate global markets' concerns, with safe-haven demand keeping the dollar index anchored near a multi-week high.
"The historical evidence reveals a striking pattern: government bonds have repeatedly generated substantial real losses during these extreme episodes. They have even underperformed equities and real estates which are traditionally regarded as risky assets."
The dominant force in play remains the Middle East conflict, which has kept oil prices elevated and inflation expectations firm. Reports that Washington is assembling a coalition to escort vessels through the Strait of Hormuz could offer some relief for the oil market and could weigh on the dollar.
Scott Bessent used a Senate appearance to defend President Donald Trump's campaign to slash interest and raise tariffs. Treasury Secretary Scott Bessent has faced questions from the United States Senate about President Donald Trump's ongoing campaign to slash interest rates, despite concerns that such a move could turbo-charge inflation. Bessent appeared on Thursday before the Senate's Financial Stability Oversight Council. There, he received a grilling from Democrats over rising consumer prices and concerns about Trump's attempts to influence the Federal Reserve, the US central bank.
The news comes after right-wing Youtuber Nick Shirley went viral for videos accusing Somali people in Minneapolis of deceptively collecting Medicaid grants to run fraudulent daycares. While some child care fraud has been uncovered in places like Minnesota, investigators have debunked most of Shirley's videos, noting that he visited many of the daycare centers during irregular hours before claiming they don't offer the services advertised.
President Donald Trump said Thursday that he is instructing "representatives" to buy $200 billion in mortgage bonds, arguing the move would lower interest rates and monthly housing payments. In a Truth Social post, Trump said the directive was possible because Fannie Mae and Freddie Mac have "$200 billion in cash." He added the bond purchases would help "make the cost of owning a home more affordable."
At the World Economic Forum in Davos, Bessent told journalist Christine Lee that the initiative is part of a larger effort to bring digital-asset innovation onto U.S. soil while keeping federal oversight of seized cryptocurrency This sentiment comes from questions about the government's handling of BTC seized from developers linked to Tornado Cash in the Southern District of New York as well as the handling of bitcoin from Samourai Wallet developers.
The newly-named Federal Reserve chairman faces an historic challenge that no predecessor has encountered since the years immediately following World War II. In that period, the gigantic spending required to aid our allies and secure military victory saddled the U.S. with towering debt. President Truman-fearing that huge interest costs would swamp the budget-heavily pressured the Fed to hold down rates. Today, the U.S. is wrestling with its biggest budget crisis in 70 years, and we're confronting a similar conundrum.