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A chainsaw-wielding, self-professed “anarcho-capitalist” is now one step closer to overhauling Argentina’s beleagured economy — by throwing out the nation’s peso currency and adopting the US dollar as legal tender.
The yield on the 10-year Treasury has reached 5% for the first time since 2007. Treasury yields have been climbing rapidly, with the 10-year yield rallying from less than 3.50% during the spring and from just 0.50% early in the pandemic. Monday morning, the yield on the 10-year Treasury was at 4.96% after hitting 5.02% earlier.
Big tech takes center stage at a crucial time for markets as rising bond yields and fear of further Fed tightening have sent stocks lower in recent weeks.
The Commerce Department is set to report third-quarter gross domestic product Thursday. It’s the broadest measure of economic output, and it’ll likely show that the US economy expanded at a staggeringly rapid pace from July through September, despite higher interest rates, depleted pandemic savings and high inflation.
Big tech takes center stage at a crucial time for markets as rising bond yields and fear of further Fed tightening have sent stocks lower in recent weeks.