12 mins. ago
With the focus of global investors shifting away from the short-term economy to long-term fiscal credibility, the US dollar started its day on August 24 on multi-month lows. Although Treasury Department's plan to double buybacks to the tune of $4 billion per operation on 10- to 30-year debt has eased concerns in some market circles, others are concerned that Washington intends to further suppress long-term borrowing via the deficit without remediation. U.S. 30-year yields are at 5.337%, last week's 19-year highs, and a slightly better than expected Services report on Friday did little to push the dollar higher. Investors are watching both Friday's speech by Fed Chair Kevin Warsh from Jackson Hole and July's inflation for more insight on the possible direction and duration of monetary policy.
Buyer perception is that the ECB will continue to adhere to the fight against inflation after the September opening of a 2.5% deposit rate. In the meantime, while the recovery in Europe is uneven, sentiment in the markets is that recent growth data and business activity support the push for further inflation focus against the backdrop of the Iran conflict.
Sterling is further supported by the comparative relationship with the dollar. Fed Chair Kevin Warsh rose to 2.9% in July, while second-quarter GDP increased by 0.4%. There were also declines in retail sales and an unexpected budget deficit by the government which has weakened prospects. With all of this in mind, the best case scenario is still limited. Most economists predict interest rates will stay the same for the remainder of 2022. That said, inflation is still expected to rise enough to prompt the Bank of England for at least one interest rate hike in 2026.
For August 24, the primary FX theme is increased uncertainty over U.S. fiscal policy and treated the dollar as being weak, while the risks of tightening by the ECB and BoE supported the euro and pound.
For the U.S. Dollar Index, the 4-hour chart shows a price currently at $98.89 after breaking the $99.38 support. The price is below the 50, and 100, period Exponential Moving Averages (EMAs) confirming a bearish sentiment. The price has been attempting to stabilize in the range of $98.55 to $98.82, and has broken some support, but no major resistances have been established.
#inflation #support #price #kevin
Buyer perception is that the ECB will continue to adhere to the fight against inflation after the September opening of a 2.5% deposit rate. In the meantime, while the recovery in Europe is uneven, sentiment in the markets is that recent growth data and business activity support the push for further inflation focus against the backdrop of the Iran conflict.
Sterling is further supported by the comparative relationship with the dollar. Fed Chair Kevin Warsh rose to 2.9% in July, while second-quarter GDP increased by 0.4%. There were also declines in retail sales and an unexpected budget deficit by the government which has weakened prospects. With all of this in mind, the best case scenario is still limited. Most economists predict interest rates will stay the same for the remainder of 2022. That said, inflation is still expected to rise enough to prompt the Bank of England for at least one interest rate hike in 2026.
For August 24, the primary FX theme is increased uncertainty over U.S. fiscal policy and treated the dollar as being weak, while the risks of tightening by the ECB and BoE supported the euro and pound.
For the U.S. Dollar Index, the 4-hour chart shows a price currently at $98.89 after breaking the $99.38 support. The price is below the 50, and 100, period Exponential Moving Averages (EMAs) confirming a bearish sentiment. The price has been attempting to stabilize in the range of $98.55 to $98.82, and has broken some support, but no major resistances have been established.
#inflation #support #price #kevin
25 mins. ago
LeBron James is the latest NBA player to have his finances come under scrutiny following a new report from Bloomberg that was published on Tuesday. According to the story's headline, "LeBron James Borrowed $300 Million From Insurers Arranged by Guggenheim."
Guggenheim is the financial services firm run by Mark Walter, the guy who owned the Los Angeles Lakers for about a year. He recently sold the team to Josh Kushner and Bob Iger. The Dodgers might be next. You're probably familiar with all that.
MORE: LeBron James leaving Los Angeles looks even better now
If you are familiar with all that, the headline sounds pretty juicy. However, if you actually reading the article it sounds more like LeBron James was doing some basic rich guy stuff. So anyone expecting a year-long investigation into the Lakers committing cap circumvention is going to be disappointed. The story doesn't seem to have anything to do with LeBron choosing or re-signing with the Lakers. Via Bloomberg:
"James' borrowing from the two Midwestern insurers — structured as sales of ***** et-backed bonds — began when he was at the Cleveland Cavaliers and his career was poised for new heights."
#Lakers #insurers #year
Guggenheim is the financial services firm run by Mark Walter, the guy who owned the Los Angeles Lakers for about a year. He recently sold the team to Josh Kushner and Bob Iger. The Dodgers might be next. You're probably familiar with all that.
MORE: LeBron James leaving Los Angeles looks even better now
If you are familiar with all that, the headline sounds pretty juicy. However, if you actually reading the article it sounds more like LeBron James was doing some basic rich guy stuff. So anyone expecting a year-long investigation into the Lakers committing cap circumvention is going to be disappointed. The story doesn't seem to have anything to do with LeBron choosing or re-signing with the Lakers. Via Bloomberg:
"James' borrowing from the two Midwestern insurers — structured as sales of ***** et-backed bonds — began when he was at the Cleveland Cavaliers and his career was poised for new heights."
#Lakers #insurers #year
51 mins. ago
Today, Galaxy unveiled a revolving line of credit on its retail app GalaxyOne, letting eligible U.S. clients borrow cash against BTC, ETH, and staked SOL for liquidity without selling.
The terms: The multi-asset line carries no origination fee, an 8.99% variable APR, and a 50% loan-to-value ceiling, with staked SOL continuing to earn rewards while pledged.
The pitch: Galaxy says pledged collateral isn't rehypothecated and draws typically land in USD or USDC almost instantly, framing the product as steadier than pure DeFi borrowing rails.
The fit: It's the newest build-out of GalaxyOne, the superapp Galaxy launched in October 2025 that already bundles high-yield cash, staking, and commission-free stock trading.
#cash
The terms: The multi-asset line carries no origination fee, an 8.99% variable APR, and a 50% loan-to-value ceiling, with staked SOL continuing to earn rewards while pledged.
The pitch: Galaxy says pledged collateral isn't rehypothecated and draws typically land in USD or USDC almost instantly, framing the product as steadier than pure DeFi borrowing rails.
The fit: It's the newest build-out of GalaxyOne, the superapp Galaxy launched in October 2025 that already bundles high-yield cash, staking, and commission-free stock trading.
#cash
3 hours ago
You might have more in common with billionaires than you think.
"It's funny, talking about my personal finances, because no one ever believes anything I say," said YouTube creator Jimmy Donaldson, more well-known as MrBeast, to the Wall Street Journal earlier this year. "I have negative money right now, I'm borrowing money. That's how little money I have."
The YouTuber is worth approximately $2.6 billion; much of that comes from equity in his $5 billion company, Beast Industries.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
#street
"It's funny, talking about my personal finances, because no one ever believes anything I say," said YouTube creator Jimmy Donaldson, more well-known as MrBeast, to the Wall Street Journal earlier this year. "I have negative money right now, I'm borrowing money. That's how little money I have."
The YouTuber is worth approximately $2.6 billion; much of that comes from equity in his $5 billion company, Beast Industries.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
#street
3 hours ago
The U.S. national debt has hit $40 trillion, and the Trump administration is facing questions about its budget plans as a result. The good news is, there has one: The American economy will apparently grow its way out of any fiscal crisis.
"It's been a problem for 35 years," Trump told reporters Friday. "And what we have now … is we have tremendous growth. And the way you take care of debt is with growth, and we have tremendous growth. We've never had growth like we have right now."
"There's nothing magic about the $40 trillion number," Treasury Secretary Scott Bessent said on CNBC last week, "And we can grow our way out of that."
Economists would be inclined to agree with Bessent: The value of the debt, while an extraordinary milestone, doesn't hold much relative weight. What economists (and more importantly, the bond market) is watching is the debt-to-GDP ratio: This demonstrates the level of borrowing by a country against its economic capacity to repay and service it.
Currently, the U.S. ratio stands at 122%. To bring it back into a lower balance, an economy could cut its borrowing or—as Bessent suggests—increase its growth.
When the alternative is cutting borrowing and, as a result, government spending, the growth plan is a more optimistic and politically palatable route.
It's also the latest in a series of solutions proposed by the White House: Originally, President Trump had suggested that tariffs would pay down the national debt (the plan was quickly nixed by a Supreme Court ruling ordering the administration to repay approximately $100 billion in revenues that the justices deemed illegal).
#Trump #borrowing #trillion
"It's been a problem for 35 years," Trump told reporters Friday. "And what we have now … is we have tremendous growth. And the way you take care of debt is with growth, and we have tremendous growth. We've never had growth like we have right now."
"There's nothing magic about the $40 trillion number," Treasury Secretary Scott Bessent said on CNBC last week, "And we can grow our way out of that."
Economists would be inclined to agree with Bessent: The value of the debt, while an extraordinary milestone, doesn't hold much relative weight. What economists (and more importantly, the bond market) is watching is the debt-to-GDP ratio: This demonstrates the level of borrowing by a country against its economic capacity to repay and service it.
Currently, the U.S. ratio stands at 122%. To bring it back into a lower balance, an economy could cut its borrowing or—as Bessent suggests—increase its growth.
When the alternative is cutting borrowing and, as a result, government spending, the growth plan is a more optimistic and politically palatable route.
It's also the latest in a series of solutions proposed by the White House: Originally, President Trump had suggested that tariffs would pay down the national debt (the plan was quickly nixed by a Supreme Court ruling ordering the administration to repay approximately $100 billion in revenues that the justices deemed illegal).
#Trump #borrowing #trillion
13 hours ago
Milestones are usually meant to be celebrated, but this achievement isn't necessarily a positive development. The U.S. government's debt balance has officially exceeded $40 trillion. This massive sum is equal to 124% of the country's gross domestic product (GDP), up from a 62% share in 2006.
What's more, the federal debt burden has more than doubled in a decade. Compared to 20 years ago, it has exploded 376% higher. Within the U.S. budget, more money goes to interest payments now than it does to anything else, except Social Security and Medicare.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Here's what history says all of this borrowing means for the stock market. Investors will want to pay attention.
When President Donald Trump began his second term, he immediately set up the Department of Government Efficiency. This agency, headed by Elon Musk, was tasked with cutting spending and reducing the deficit. But by any measure, it was a complete failure. Even the world's most prominent tech visionary couldn't make a tiny dent in fixing the country's finances.
#signal #debt #years #milestones
What's more, the federal debt burden has more than doubled in a decade. Compared to 20 years ago, it has exploded 376% higher. Within the U.S. budget, more money goes to interest payments now than it does to anything else, except Social Security and Medicare.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Here's what history says all of this borrowing means for the stock market. Investors will want to pay attention.
When President Donald Trump began his second term, he immediately set up the Department of Government Efficiency. This agency, headed by Elon Musk, was tasked with cutting spending and reducing the deficit. But by any measure, it was a complete failure. Even the world's most prominent tech visionary couldn't make a tiny dent in fixing the country's finances.
#signal #debt #years #milestones
3 days ago
Treasury data confirmed last night that U.S. national debt now stands at $40 trillion, with the government now expected to spend more than $1 trillion in interest on the debt in the fiscal year of 2026.
Debt hawks have been warning policymakers for some time that the nation's fiscal path is unsustainable, and the issue is increasingly rising up voters' agendas in the run-up to midterms later this year.
A new report from The Conference Board throws the issue into a new light for consumers: The potential impact on their personal finances if policymakers continue borrowing at the current pace.
The Conference Board modeled a series of scenarios: Baseline (using Congressional Budget Office data based on current trends), a good-case (in which federal deficits are cut roughly in half, in line with current targeting proposals), and a bad-case (in which deficit levels grow to 9% of GDP rather than the current 6% to 7%).
The Conference Board also modeled two financial crisis scenarios—a default and an interest rate shock—which economists like Bridgewater ****** ociates founder Ray Dalio have long been concerned about.
Even dismissing the most extreme negative outcomes, consumers still stand to lose thousands if policymakers don't act to reduce spending.
For example, the report models a family saving to buy a $600,000 house in either 5 or 10 years, with a 20% down payment and a 30-year fixed mortgage. The report does not provide a methodology for calculating rates offered in 2031 and 2036, but concludes that total payments over three decades for a home bought in 2031 come to $2.89m, and $2.8m in 2036.
#current #report
Debt hawks have been warning policymakers for some time that the nation's fiscal path is unsustainable, and the issue is increasingly rising up voters' agendas in the run-up to midterms later this year.
A new report from The Conference Board throws the issue into a new light for consumers: The potential impact on their personal finances if policymakers continue borrowing at the current pace.
The Conference Board modeled a series of scenarios: Baseline (using Congressional Budget Office data based on current trends), a good-case (in which federal deficits are cut roughly in half, in line with current targeting proposals), and a bad-case (in which deficit levels grow to 9% of GDP rather than the current 6% to 7%).
The Conference Board also modeled two financial crisis scenarios—a default and an interest rate shock—which economists like Bridgewater ****** ociates founder Ray Dalio have long been concerned about.
Even dismissing the most extreme negative outcomes, consumers still stand to lose thousands if policymakers don't act to reduce spending.
For example, the report models a family saving to buy a $600,000 house in either 5 or 10 years, with a 20% down payment and a 30-year fixed mortgage. The report does not provide a methodology for calculating rates offered in 2031 and 2036, but concludes that total payments over three decades for a home bought in 2031 come to $2.89m, and $2.8m in 2036.
#current #report
4 days ago
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Gold (GC=F) December futures opened at $4,577 per troy ounce on Friday, August 21, 2026, up 0.1% from Thursday's closing price. The price of gold is up this morning at $4,633.90 per troy ounce as of 9 a.m. ET.
Gold continued to rise Friday morning amid concerns about U.S. debt. Earlier in the week, the national debt hit a record high of $40 trillion, five months after eclipsing $39 trillion.
For context, the U.S. debt balance was $28.4 trillion in late 2021. Fast-rising national debt erodes trust in the U.S. dollar and raises borrowing costs. As the debt balance grows, higher yields are required to compensate investors for the risk the government will take inflationary measures, like printing money, to service the debt. At the current debt level, interest costs exceed defense spending.
These dynamics can prompt higher demand for gold as a safe haven from the dollar, both for investors and central banks around the world.
#Friday #troy #price #balance
Gold (GC=F) December futures opened at $4,577 per troy ounce on Friday, August 21, 2026, up 0.1% from Thursday's closing price. The price of gold is up this morning at $4,633.90 per troy ounce as of 9 a.m. ET.
Gold continued to rise Friday morning amid concerns about U.S. debt. Earlier in the week, the national debt hit a record high of $40 trillion, five months after eclipsing $39 trillion.
For context, the U.S. debt balance was $28.4 trillion in late 2021. Fast-rising national debt erodes trust in the U.S. dollar and raises borrowing costs. As the debt balance grows, higher yields are required to compensate investors for the risk the government will take inflationary measures, like printing money, to service the debt. At the current debt level, interest costs exceed defense spending.
These dynamics can prompt higher demand for gold as a safe haven from the dollar, both for investors and central banks around the world.
#Friday #troy #price #balance
4 days ago
Something metallic turned up under a garden in a quiet Tallinn suburb in 1969, and the Soviets spent the next twenty years trying to get it out, bringing in excavators and scientists and military, borrowing the house from its owners and living in it, digging on and off until perestroika ended the whole effort and they walked away. Astrophysicist Dr. Beatriz Villarroel and Ocean X co-founder Dennis Åsberg went to that address to find out what is still down there. ****** ody came to the door, but the neighbor who had watched all of it from his window talked to them for an hour.
This is their full conversation with Ross Coulthart, recorded for "Secret Soviet UFOs" and running well past what the special had room for. Villarroel walks through the peer-reviewed work that brought her to Estonia, highly reflective objects photographed in orbit years before anyone on Earth had launched a satellite, and why she thinks the same search belongs in the ground. Åsberg ties Merivälja to the Baltic Sea anomaly his team found on sonar roughly 300 kilometers away and argues that both could predate the last ice age. Between them, they count five European cases and will not give up the coordinates of one of them. What ****** ody can answer yet is what sits under that garden, and the only thing that would settle it is ground-penetrating radar in the yard of a man who has already told them no.
Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.For the latest news, weather, sports, and streaming video, head to NewsNation.
#nobody #sberg #tallinn
This is their full conversation with Ross Coulthart, recorded for "Secret Soviet UFOs" and running well past what the special had room for. Villarroel walks through the peer-reviewed work that brought her to Estonia, highly reflective objects photographed in orbit years before anyone on Earth had launched a satellite, and why she thinks the same search belongs in the ground. Åsberg ties Merivälja to the Baltic Sea anomaly his team found on sonar roughly 300 kilometers away and argues that both could predate the last ice age. Between them, they count five European cases and will not give up the coordinates of one of them. What ****** ody can answer yet is what sits under that garden, and the only thing that would settle it is ground-penetrating radar in the yard of a man who has already told them no.
Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.For the latest news, weather, sports, and streaming video, head to NewsNation.
#nobody #sberg #tallinn
4 days ago
By David Lawder and Tatiana Bautzer
WASHINGTON/NEW YORK, Aug 19 (Reuters) - The U.S. Treasury announced on Wednesday support measures for long-duration bonds, stepping in to staunch, at least temporarily, an upward march in yields that had unnerved global investors.
The move to double buyback sizes for long-duration debt came after a major bond selloff pushed the 30-year Treasury yield to its highest level since 2007 amid worries of an imminent escalation in the U.S.-Israeli war with Iran and rising concerns over a deteriorating U.S. fiscal picture. Higher bond yields push up borrowing costs, squeezing households, companies, financial markets and the federal budget alike. Total public debt outstanding topped the $40 trillion mark on Wednesday.
"I think that this will have a huge impact on the long end," said Dan Gottlander, global head of USD and CAD swaps trading at Citi, although he added that the move might prompt the U.S. Treasury to issue more short-term debt instead.
"It does not change deficits, obviously, and if you are going to buy back the long end, you still will need to issue," said Gottlander. "They may issue more bills, or also in the five-year to 10-year sector."
#debt #yields #global
WASHINGTON/NEW YORK, Aug 19 (Reuters) - The U.S. Treasury announced on Wednesday support measures for long-duration bonds, stepping in to staunch, at least temporarily, an upward march in yields that had unnerved global investors.
The move to double buyback sizes for long-duration debt came after a major bond selloff pushed the 30-year Treasury yield to its highest level since 2007 amid worries of an imminent escalation in the U.S.-Israeli war with Iran and rising concerns over a deteriorating U.S. fiscal picture. Higher bond yields push up borrowing costs, squeezing households, companies, financial markets and the federal budget alike. Total public debt outstanding topped the $40 trillion mark on Wednesday.
"I think that this will have a huge impact on the long end," said Dan Gottlander, global head of USD and CAD swaps trading at Citi, although he added that the move might prompt the U.S. Treasury to issue more short-term debt instead.
"It does not change deficits, obviously, and if you are going to buy back the long end, you still will need to issue," said Gottlander. "They may issue more bills, or also in the five-year to 10-year sector."
#debt #yields #global
4 days ago
If you haven't seen by now, Bitcoin made a violent move today, lurching roughly 6% to above $68K at time of writing, blowing out more than $1 billion of shorts along the way.
Most of crypto moved alongside it (most notably ETH), while gold and silver ripped as well. Meanwhile, long-term Treasury yields fell, the dollar weakened, and stocks barely moved.
All in all, it's behavior that heralds the return of the beloved debasement trade: buying hard ***** ets when investors believe policymakers will ultimately tolerate inflation or currency weakness to keep the economic machine running.
This move didn't come out of nowhere. The catalyst was an announcement from the Treasury that it will at least double how much it can buy back in each operation for certain 10- to 30-year Treasuries, from $2 billion to at least $4 billion beginning September 9.
Why are they doing this? Officially, Treasury wants to make these longer-dated bonds easier to buy and sell and reduce the risk of turbulence in that part of the market. The broader reason traders care is that long-term yields have remained high as inflation persists, government borrowing grows, and investors demand more compensation to lend the government money for decades. In fact, the 30-year yield hit its highest level since 2007 just yesterday.
#moved
Most of crypto moved alongside it (most notably ETH), while gold and silver ripped as well. Meanwhile, long-term Treasury yields fell, the dollar weakened, and stocks barely moved.
All in all, it's behavior that heralds the return of the beloved debasement trade: buying hard ***** ets when investors believe policymakers will ultimately tolerate inflation or currency weakness to keep the economic machine running.
This move didn't come out of nowhere. The catalyst was an announcement from the Treasury that it will at least double how much it can buy back in each operation for certain 10- to 30-year Treasuries, from $2 billion to at least $4 billion beginning September 9.
Why are they doing this? Officially, Treasury wants to make these longer-dated bonds easier to buy and sell and reduce the risk of turbulence in that part of the market. The broader reason traders care is that long-term yields have remained high as inflation persists, government borrowing grows, and investors demand more compensation to lend the government money for decades. In fact, the 30-year yield hit its highest level since 2007 just yesterday.
#moved
4 days ago
The U.S. Treasury said on Aug. 19 that it will double the amount of longer-term government bonds it buys back, from $2 billion to at least $4 billion per operation starting Sept. 9.
The move can help stabilize the bond market, push yields lower and ease some borrowing costs across the economy, including rates tied to mortgages and other loans.
Related: Mysterious trader buys millions ahead of Trump's 2:30 PM meeting
The key point is that this is not new stimulus or debt cancellation. It is a market-support measure designed to improve liquidity and reduce stress in longer-dated Treasurys.
Long-dated Treasurys are U.S. government bonds that mature 10-30 years from now. The Treasury said it is increasing buybacks to provide "greater liquidity support" in that part of the market, with the move coming a day after a sharp bond selloff pushed the 30-year yield to its highest level since 2007.
#buys #billion
The move can help stabilize the bond market, push yields lower and ease some borrowing costs across the economy, including rates tied to mortgages and other loans.
Related: Mysterious trader buys millions ahead of Trump's 2:30 PM meeting
The key point is that this is not new stimulus or debt cancellation. It is a market-support measure designed to improve liquidity and reduce stress in longer-dated Treasurys.
Long-dated Treasurys are U.S. government bonds that mature 10-30 years from now. The Treasury said it is increasing buybacks to provide "greater liquidity support" in that part of the market, with the move coming a day after a sharp bond selloff pushed the 30-year yield to its highest level since 2007.
#buys #billion
5 days ago
The numbers have reached a scale that markets can no longer ignore. The U.S. fiscal deficit jumped to $432 billion in July alone, the biggest monthly shortfall since early 2021, pushing the year-to-date gap to nearly $1.8 trillion, with the full-year deficit expected to approach $2 trillion. The national debt is nearing the $40 trillion milestone, and the cost of financing it has ballooned to roughly $1.2 trillion so far this year, on pace for about $1.37 trillion for the full fiscal year.
The result has been a sharp move higher in long-term Treasury yields. The 30-year bond hit 5.33% in mid-August — its highest level in 19 years — while the 10-year note pushed toward 4.75%, a 20-month high before the Treasury stepped in this week to announce increased buying of longer dated bonds. Bond strategists point to a combination of forces for the recent high: mounting deficit concerns, inflation still stuck above the Fed's 2% target, and a wave of corporate debt issuance competing with Treasurys for investor cash. Some are calling it the return of the "bond vigilantes" — investors demanding higher yields to keep funding a government that keeps borrowing more.
Because bond prices move opposite to yields, when yields rise, existing bonds — which pay lower fixed rates — become less valuable, so their prices fall. And the longer a bond's maturity (its duration), the more its price drops for a given rise in yields. A 25 basis point rise in long-term yields can translate to roughly a 4% price loss in a long-duration bond fund.
That's why the debt story is fundamentally an ETF story. The funds holding long-dated Treasurys were absorbing the full force of the yield spike, while short-duration and alternative funds are becoming the market's refuge. While yields have since retreated post-Treasury announcement and there is a potential for a surge in buying 20+ year bond ETFs, the longer term impact to long-dated bonds remains to seen.
TLT is ground zero for the debt-and-yields story. As the most popular long-duration Treasury ETF, it holds bonds with 20+ years to maturity — exactly the part of the curve recently hammered as the 30-year yield hit multi-decade highs. TLT has slumped into a correction and touched a 22-year low in August, and investors have pulled more than $4.4 billion out of the fund this year. Strikingly, even a near-5% yield wasn't enough to stem the slide: the price losses from rising rates have overwhelmed the income the fund pays. TLT is the clearest example of how duration risk works against investors when the government's borrowing costs climb.
#year
The result has been a sharp move higher in long-term Treasury yields. The 30-year bond hit 5.33% in mid-August — its highest level in 19 years — while the 10-year note pushed toward 4.75%, a 20-month high before the Treasury stepped in this week to announce increased buying of longer dated bonds. Bond strategists point to a combination of forces for the recent high: mounting deficit concerns, inflation still stuck above the Fed's 2% target, and a wave of corporate debt issuance competing with Treasurys for investor cash. Some are calling it the return of the "bond vigilantes" — investors demanding higher yields to keep funding a government that keeps borrowing more.
Because bond prices move opposite to yields, when yields rise, existing bonds — which pay lower fixed rates — become less valuable, so their prices fall. And the longer a bond's maturity (its duration), the more its price drops for a given rise in yields. A 25 basis point rise in long-term yields can translate to roughly a 4% price loss in a long-duration bond fund.
That's why the debt story is fundamentally an ETF story. The funds holding long-dated Treasurys were absorbing the full force of the yield spike, while short-duration and alternative funds are becoming the market's refuge. While yields have since retreated post-Treasury announcement and there is a potential for a surge in buying 20+ year bond ETFs, the longer term impact to long-dated bonds remains to seen.
TLT is ground zero for the debt-and-yields story. As the most popular long-duration Treasury ETF, it holds bonds with 20+ years to maturity — exactly the part of the curve recently hammered as the 30-year yield hit multi-decade highs. TLT has slumped into a correction and touched a 22-year low in August, and investors have pulled more than $4.4 billion out of the fund this year. Strikingly, even a near-5% yield wasn't enough to stem the slide: the price losses from rising rates have overwhelmed the income the fund pays. TLT is the clearest example of how duration risk works against investors when the government's borrowing costs climb.
#year
5 days ago
Bitcoin (BTC) jumped 5.8% to levels above $69,500 on Wednesday, wiping out $1.23 billion in bets against it in one hour. Is the crypto bull market back?
The rally ran market-wide, with Ethereum (ETH) up 9% to $2,088, Solana (SOL) up 6.5%, and XRP (XRP) up 6.9%. One decision in Washington set it off.
The US Treasury said it will double its buybacks of long-term government bonds to at least $4 billion per operation. In plain terms, the government stepped in as a buyer of its own debt.
The timing couldn't be better for risk ******* ets. The 30-year yield, the interest rate the US pays on its longest debt, had just hit 5.337%. That was its highest level since 2007. The Treasury buyback announcement knocked it back to 5.192%.
Markets read the move as proof that Treasury Secretary Scott Bessent is watching borrowing costs. When yields fall, bonds pay less, and money hunts for returns elsewhere. Bitcoin sits near the front of that line.
#treasury #market #back #ethereum
The rally ran market-wide, with Ethereum (ETH) up 9% to $2,088, Solana (SOL) up 6.5%, and XRP (XRP) up 6.9%. One decision in Washington set it off.
The US Treasury said it will double its buybacks of long-term government bonds to at least $4 billion per operation. In plain terms, the government stepped in as a buyer of its own debt.
The timing couldn't be better for risk ******* ets. The 30-year yield, the interest rate the US pays on its longest debt, had just hit 5.337%. That was its highest level since 2007. The Treasury buyback announcement knocked it back to 5.192%.
Markets read the move as proof that Treasury Secretary Scott Bessent is watching borrowing costs. When yields fall, bonds pay less, and money hunts for returns elsewhere. Bitcoin sits near the front of that line.
#treasury #market #back #ethereum
5 days ago
US national debt hit a record $40tn (£29.3tn) as Donald Trump launched a major intervention in the bond market to calm investors after a global sell-off.
America's gross federal debt surpassed the milestone earlier this week, data from the US treasury showed on Wednesday, coinciding with a bond market crash that pushed government borrowing costs to multi-decade highs.
The US national debt has risen by $3tn in the past 12 months, raising fears about higher spending under Mr Trump.
It came as the US treasury said it would pump billions of dollars into the bond market after fears about inflation and surging government debt propelled borrowing costs to their highest level since the financial crisis.
In a move to calm increasingly volatile bond markets, the treasury said on Wednesday that it would double the amount available to buy long-dated US treasuries to $4bn (£3bn).
#government
America's gross federal debt surpassed the milestone earlier this week, data from the US treasury showed on Wednesday, coinciding with a bond market crash that pushed government borrowing costs to multi-decade highs.
The US national debt has risen by $3tn in the past 12 months, raising fears about higher spending under Mr Trump.
It came as the US treasury said it would pump billions of dollars into the bond market after fears about inflation and surging government debt propelled borrowing costs to their highest level since the financial crisis.
In a move to calm increasingly volatile bond markets, the treasury said on Wednesday that it would double the amount available to buy long-dated US treasuries to $4bn (£3bn).
#government
5 days ago
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Updated Aug. 19, 2026 11:17 am ET
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The U.S. Treasury said Wednesday it will buy back more of its longer-term bonds, in an effort to curb a sharp increase in borrowing costs.
#wednesday #back #curb
Updated Aug. 19, 2026 11:17 am ET
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(1 min)
The U.S. Treasury said Wednesday it will buy back more of its longer-term bonds, in an effort to curb a sharp increase in borrowing costs.
#wednesday #back #curb
5 days ago
MUMBAI, Aug 19 (Reuters) - India's rate panel left the door open to future rate hikes earlier this month, watching for evidence that supply-sparked inflation may be seeping into the broader economy which could merit higher borrowing costs, minutes of the committee's meeting released on Wednesday showed.
A sharp rise in oil prices brought on by the Iran war has stoked inflation worries, prompting markets to wager on rate hikes, while also exerting pressure on the Indian rupee.
The panel had voted unanimously to keep the policy repo rate (INREPO=ECI) unchanged at 5.25% on August 5, while retaining its monetary policy stance at "neutral".
India's headline consumer inflation remained well within the central bank's 2-6% tolerance band at 4.45% in July. The Reserve Bank of India has a 4% medium term target.
While there are limited signs of inflation becoming generalized so far, headline inflation does appear to be normalizing "from its benign levels seen hitherto," RBI Chief Sanjay Malhotra said in the minutes.
#inflation
A sharp rise in oil prices brought on by the Iran war has stoked inflation worries, prompting markets to wager on rate hikes, while also exerting pressure on the Indian rupee.
The panel had voted unanimously to keep the policy repo rate (INREPO=ECI) unchanged at 5.25% on August 5, while retaining its monetary policy stance at "neutral".
India's headline consumer inflation remained well within the central bank's 2-6% tolerance band at 4.45% in July. The Reserve Bank of India has a 4% medium term target.
While there are limited signs of inflation becoming generalized so far, headline inflation does appear to be normalizing "from its benign levels seen hitherto," RBI Chief Sanjay Malhotra said in the minutes.
#inflation
5 days ago
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Bitcoin (BTC-USD) opened at $69,289.44 on Thursday, August 20, 2026, 7.1% higher than Wednesday's opening price. As of 9:15 a.m. ET this morning, the price of bitcoin moved up to $71,980.32.
Ethereum (ETH-USD) opened at $2,251.93 on Thursday, August 20, 2026, up 17.5% from Wednesday's opening price. The price of ethereum moved higher this morning to $2,293.10 as of 9:16 a.m. ET.
Bitcoin and ethereum prices jumped higher after President Trump pushed Congress to pass the Clarity Act, legislation that defines whether cryptocurrencies are regulated as securities or commodities. The bill is currently stalled in the Senate and scheduled for a procedural vote in September.
A decline in long-term Treasury yields also supported the move up in crypto prices. The yield dip followed the U.S. Treasury's announcement that it would double long-term debt buybacks. Lower long-term borrowing rates tend to increase demand for riskier ******* ets, including digital currencies, as investors seek out higher yields.
#ethereum #thursday #opening
Bitcoin (BTC-USD) opened at $69,289.44 on Thursday, August 20, 2026, 7.1% higher than Wednesday's opening price. As of 9:15 a.m. ET this morning, the price of bitcoin moved up to $71,980.32.
Ethereum (ETH-USD) opened at $2,251.93 on Thursday, August 20, 2026, up 17.5% from Wednesday's opening price. The price of ethereum moved higher this morning to $2,293.10 as of 9:16 a.m. ET.
Bitcoin and ethereum prices jumped higher after President Trump pushed Congress to pass the Clarity Act, legislation that defines whether cryptocurrencies are regulated as securities or commodities. The bill is currently stalled in the Senate and scheduled for a procedural vote in September.
A decline in long-term Treasury yields also supported the move up in crypto prices. The yield dip followed the U.S. Treasury's announcement that it would double long-term debt buybacks. Lower long-term borrowing rates tend to increase demand for riskier ******* ets, including digital currencies, as investors seek out higher yields.
#ethereum #thursday #opening
5 days ago
By David Lawder and Jacob Bogage
WASHINGTON, Aug 19 (Reuters) - Total U.S. debt has topped $40 trillion for the first time, the Treasury Department said on Wednesday, drawing fresh warnings that a fiscal crisis is brewing as ballooning costs for social safety-net programs and interest payments far outstrip revenues held back by tax cuts.
The Treasury's latest daily cash and debt balances statement showed total public debt outstanding at $40.047 trillion on Tuesday, a total that includes Treasury securities held by the public of $32.266 trillion and intra-governmental debt holdings of $7.782 trillion.
The federal government's IOU has now more than doubled in less than a decade, from $19.95 trillion when President Donald Trump was sworn in for the first time in January 2017. Roughly one-third of that increase occurred during two years of frantic government borrowing to fund the COVID-19 pandemic responses undertaken by Trump and former President Joe Biden, while the fiscal policy choices of both presidents combined with long-running tax-and-spending imbalances account for the rest.
Budget watchdog groups have anticipated crossing the threshold for weeks and issued stark warnings that a full-blown debt crisis could erupt unless lawmakers confront an unsustainable fiscal outlook and raise taxes, cut spending or both.
#trillion #first #time
WASHINGTON, Aug 19 (Reuters) - Total U.S. debt has topped $40 trillion for the first time, the Treasury Department said on Wednesday, drawing fresh warnings that a fiscal crisis is brewing as ballooning costs for social safety-net programs and interest payments far outstrip revenues held back by tax cuts.
The Treasury's latest daily cash and debt balances statement showed total public debt outstanding at $40.047 trillion on Tuesday, a total that includes Treasury securities held by the public of $32.266 trillion and intra-governmental debt holdings of $7.782 trillion.
The federal government's IOU has now more than doubled in less than a decade, from $19.95 trillion when President Donald Trump was sworn in for the first time in January 2017. Roughly one-third of that increase occurred during two years of frantic government borrowing to fund the COVID-19 pandemic responses undertaken by Trump and former President Joe Biden, while the fiscal policy choices of both presidents combined with long-running tax-and-spending imbalances account for the rest.
Budget watchdog groups have anticipated crossing the threshold for weeks and issued stark warnings that a full-blown debt crisis could erupt unless lawmakers confront an unsustainable fiscal outlook and raise taxes, cut spending or both.
#trillion #first #time
5 days ago
Bitcoin (BTC) has traded through two US market interventions in under three weeks. It moved the opposite way each time. Support for the yen pushed it down. An attack on long yields lifted it 8.8%.
Treasury Secretary Scott Bessent went further on Thursday. He said buybacks could exceed $4 billion per issue and would become routine, while denying that rates drove the decision.
Follow us on X to get the latest news as it happens
The pattern is narrower than it looks. Bitcoin does not reward intervention itself. It rewards the intervention that lowers long-dated US borrowing costs.
The first landed at the start of August. ****** an bought its own currency with an estimated $53 billion. The New York Fed then bought yen for the Treasury on August 1.
#august #intervention #bought #secretary
Treasury Secretary Scott Bessent went further on Thursday. He said buybacks could exceed $4 billion per issue and would become routine, while denying that rates drove the decision.
Follow us on X to get the latest news as it happens
The pattern is narrower than it looks. Bitcoin does not reward intervention itself. It rewards the intervention that lowers long-dated US borrowing costs.
The first landed at the start of August. ****** an bought its own currency with an estimated $53 billion. The New York Fed then bought yen for the Treasury on August 1.
#august #intervention #bought #secretary
5 days ago
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Silver (SI=F) September futures opened at $67.08 per ounce on Thursday, August 20, 2026, up 1.9% from Wednesday's closing price. The silver price moved lower this morning, reaching $66.81 as of 9:04 a.m. ET.
The silver price opened higher Thursday morning after long-term Treasury yields declined on Wednesday. The decline followed a U.S. Treasury announcement that it would double buybacks of long-term bonds over the next few months. The doubling of repurchases, to $4 billion or more per operation, is not significant in a market worth $32 trillion according to ***** ysts. Its effect on the long-term borrowing costs will likely be short term.
The quick decline in yields did benefit silver, however. The metal briefly rose above $67 for the first time since June before moderating.
The opening price of silver futures on Thursday, August 20, 2026, was 1.9% higher compared to Wednesday's closing price. Here's how today's opening silver price has changed versus last week, month, and year:
#thursday #long
Silver (SI=F) September futures opened at $67.08 per ounce on Thursday, August 20, 2026, up 1.9% from Wednesday's closing price. The silver price moved lower this morning, reaching $66.81 as of 9:04 a.m. ET.
The silver price opened higher Thursday morning after long-term Treasury yields declined on Wednesday. The decline followed a U.S. Treasury announcement that it would double buybacks of long-term bonds over the next few months. The doubling of repurchases, to $4 billion or more per operation, is not significant in a market worth $32 trillion according to ***** ysts. Its effect on the long-term borrowing costs will likely be short term.
The quick decline in yields did benefit silver, however. The metal briefly rose above $67 for the first time since June before moderating.
The opening price of silver futures on Thursday, August 20, 2026, was 1.9% higher compared to Wednesday's closing price. Here's how today's opening silver price has changed versus last week, month, and year:
#thursday #long
5 days ago
U.S. stocks fell Thursday as Treasury yields climbed back from the prior session's decline and a steep drop in Walmart stock weighed on the broader market. The Dow Jones Industrial Average dropped 350 points, or 0.6%, with the S&P 500 off 0.3% and the Nasdaq Composite retreating 0.4%.
Walmart stock fell 8% after the company's U.S. comparable-store sales came in below what **** ysts had expected; its adjusted earnings outlook for the third quarter and the full year also disappointed, according to CNBC.
Bond yields turned higher Thursday, reversing Wednesday's pullback that had followed the Treasury Department's announcement that it would at least double repurchases of 10-, 20-, and 30-year debt over the coming months. The 10-year Treasury yield climbed more than 5 basis points to 4.704%, with the 30-year yield rising 6 basis points to reach 5.254%. The 30-year had spiked to its highest level in nearly 20 years earlier this week.
The intervention by Treasury Secretary Scott Bessent drew skepticism from **** ysts. **** ysts at ING, as quoted by The Wall Street Journal, compared the maneuver to "rearranging deckchairs on the **** anic," noting that without a concrete path to addressing the country's $40 trillion debt, any lasting relief in borrowing costs remained far-fetched.
Michael Schumacher, former head of macro at Wells Fargo, shared that skepticism. "I'm still negative. I think long-term rates go up for a few reasons. In the U.S. case in particular, there's just a huge budget deficit. Not much sign that's going to improve. On top of that, you've got defense spending going up," he told CNBC.
#points #yields
Walmart stock fell 8% after the company's U.S. comparable-store sales came in below what **** ysts had expected; its adjusted earnings outlook for the third quarter and the full year also disappointed, according to CNBC.
Bond yields turned higher Thursday, reversing Wednesday's pullback that had followed the Treasury Department's announcement that it would at least double repurchases of 10-, 20-, and 30-year debt over the coming months. The 10-year Treasury yield climbed more than 5 basis points to 4.704%, with the 30-year yield rising 6 basis points to reach 5.254%. The 30-year had spiked to its highest level in nearly 20 years earlier this week.
The intervention by Treasury Secretary Scott Bessent drew skepticism from **** ysts. **** ysts at ING, as quoted by The Wall Street Journal, compared the maneuver to "rearranging deckchairs on the **** anic," noting that without a concrete path to addressing the country's $40 trillion debt, any lasting relief in borrowing costs remained far-fetched.
Michael Schumacher, former head of macro at Wells Fargo, shared that skepticism. "I'm still negative. I think long-term rates go up for a few reasons. In the U.S. case in particular, there's just a huge budget deficit. Not much sign that's going to improve. On top of that, you've got defense spending going up," he told CNBC.
#points #yields
5 days ago
By Yoruk Bahceli, Ben Welsh, Dhara Ranasinghe and Rocky Swift
LONDON/NEW YORK/TOKYO, August 20 (Reuters) - U.S. debt has topped $40 trillion for the first time, underscoring the pressures on the world's major economies to fund ever-increasing spending demands -- from ageing populations to climate change and defence.
This year, the Iran war has rekindled inflation risks, while damage wrought by Europe's increasingly volatile weather is a further strain on public finances.
No wonder perhaps that U.S. 30-year Treasury yields have risen to their highest since 2007, prompting government action to contain rising borrowing costs. ******* anese borrowing costs are also near their highest in three decades and even Germany -- whose debt load is considerably lighter -- has seen its yields jump to the highest levels since 2011.
A high debt burden that brings higher borrowing costs risks hurting living standards by constraining spending and capping growth. Sovereign debt sets the benchmark for borrowing costs for companies and other loans, including household mortgages.
#spending #since
LONDON/NEW YORK/TOKYO, August 20 (Reuters) - U.S. debt has topped $40 trillion for the first time, underscoring the pressures on the world's major economies to fund ever-increasing spending demands -- from ageing populations to climate change and defence.
This year, the Iran war has rekindled inflation risks, while damage wrought by Europe's increasingly volatile weather is a further strain on public finances.
No wonder perhaps that U.S. 30-year Treasury yields have risen to their highest since 2007, prompting government action to contain rising borrowing costs. ******* anese borrowing costs are also near their highest in three decades and even Germany -- whose debt load is considerably lighter -- has seen its yields jump to the highest levels since 2011.
A high debt burden that brings higher borrowing costs risks hurting living standards by constraining spending and capping growth. Sovereign debt sets the benchmark for borrowing costs for companies and other loans, including household mortgages.
#spending #since
5 days ago
On August 17, AECOM (NYSE:ACM) delivered a third quarter that looked strong and messy at the same time. Backlog hit an all-time high on record quarterly wins, yet the company also absorbed a $337 million pretax charge tied to a delayed construction project. The result was a quarter where headline numbers cratered even as the underlying business kept expanding. That gap between top-line noise and forward momentum is what makes this print worth a closer look.
AECOM's backlog grew 13% to a new all-time high, powered by record quarterly wins and a company-wide book-to-burn ratio of 1.6, including 1.8 times in the Americas. Year to date, that ratio sits at 1.4, giving management unusually long visibility into future revenue. The design business, adjusted for one fewer working day, grew net service revenue 5%, with the Americas up 6% and international design returning to growth at 4%, led by the UK and Australia. Stripped of the charge, adjusted EBITDA climbed 5% and adjusted earnings per share rose 11% year over year, while the company raised its full-year adjusted EBITDA margin outlook to 17.4% from 17%.
Wins are coming from every direction. Canada landed a 10-year program management role on a highway and bus transit project, one of the company's largest Canadian awards ever, while Australia's backlog jumped more than 40% year over year. In the U.K., work on the Great Grid electricity upgrade helped push growth into the high single digits. The federal pipeline is expanding too, with the pipeline tied to the Department of War up roughly 30% in the quarter and less than half of IIJA infrastructure funding in AECOM's core markets spent so far. The balance sheet backs it up, with $2 billion of undrawn borrowing capacity and no near-term debt maturities.
The $337 million pretax charge stems from a construction management project first bid in 2019, where subcontractor productivity has pushed substantial completion from the first quarter of fiscal 2027 to near the end of the second quarter. That slippage cost $1.99 of earnings per share this quarter and forced a $185 million cash use, and management expects the project to keep burning cash through the first half of fiscal 2027. A second design-build P3 project from the same era also carries a significant claim position as AECOM pursues recoveries, even though the company says it no longer bids that structure for public-private partnership clients.
#year
AECOM's backlog grew 13% to a new all-time high, powered by record quarterly wins and a company-wide book-to-burn ratio of 1.6, including 1.8 times in the Americas. Year to date, that ratio sits at 1.4, giving management unusually long visibility into future revenue. The design business, adjusted for one fewer working day, grew net service revenue 5%, with the Americas up 6% and international design returning to growth at 4%, led by the UK and Australia. Stripped of the charge, adjusted EBITDA climbed 5% and adjusted earnings per share rose 11% year over year, while the company raised its full-year adjusted EBITDA margin outlook to 17.4% from 17%.
Wins are coming from every direction. Canada landed a 10-year program management role on a highway and bus transit project, one of the company's largest Canadian awards ever, while Australia's backlog jumped more than 40% year over year. In the U.K., work on the Great Grid electricity upgrade helped push growth into the high single digits. The federal pipeline is expanding too, with the pipeline tied to the Department of War up roughly 30% in the quarter and less than half of IIJA infrastructure funding in AECOM's core markets spent so far. The balance sheet backs it up, with $2 billion of undrawn borrowing capacity and no near-term debt maturities.
The $337 million pretax charge stems from a construction management project first bid in 2019, where subcontractor productivity has pushed substantial completion from the first quarter of fiscal 2027 to near the end of the second quarter. That slippage cost $1.99 of earnings per share this quarter and forced a $185 million cash use, and management expects the project to keep burning cash through the first half of fiscal 2027. A second design-build P3 project from the same era also carries a significant claim position as AECOM pursues recoveries, even though the company says it no longer bids that structure for public-private partnership clients.
#year
6 days ago
NVDA posted 85% revenue growth and MSFT's Azure crossed $100B annually, but Emanuel says what has peaked is the growth rate itself, not earnings.
Widening investment-grade tech spreads, driven by Microsoft's $175B CapEx and massive AI borrowing, are the clearest signal the buildout is straining balance sheets.
Act now: the ****** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Microsoft didn't make the cut. Grab the names FREE today.
Julian Emanuel, Evercore ISI's chief equity derivatives and quantitative strategist, said on CNBC this week that megacap tech results this quarter were "breathtaking" and then said, "the other side of breathtaking is it is likely to be as good as it gets." In the same breath, he told viewers to stay long on technology into 2027.
The tension resolves once you separate two ideas that usually get mashed together. Peak growth rate refers to the second derivative, meaning the rate of improvement.
#rate #Tech #azure #widening
Widening investment-grade tech spreads, driven by Microsoft's $175B CapEx and massive AI borrowing, are the clearest signal the buildout is straining balance sheets.
Act now: the ****** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Microsoft didn't make the cut. Grab the names FREE today.
Julian Emanuel, Evercore ISI's chief equity derivatives and quantitative strategist, said on CNBC this week that megacap tech results this quarter were "breathtaking" and then said, "the other side of breathtaking is it is likely to be as good as it gets." In the same breath, he told viewers to stay long on technology into 2027.
The tension resolves once you separate two ideas that usually get mashed together. Peak growth rate refers to the second derivative, meaning the rate of improvement.
#rate #Tech #azure #widening
7 days ago
By Parisa Hafezi and Katharine Jackson
DUBAI/WASHINGTON, Aug 18 (Reuters) - U.S. President Donald Trump said on Tuesday no talks were taking place with Iran and insisted the Strait of Hormuz was open, contradicting Iran's **** ertion that the critical waterway remained shut to shipping.
The receding prospects of a deal to end the nearly six-month conflict drove up oil prices again on Tuesday, while stock markets sagged and borrowing costs for major economies including the U.S. hit multi-decade highs, amid concerns about the long-term inflationary and fiscal impact of the crisis.
A temporary ceasefire agreement expired on Monday and a senior Iranian official told Reuters that his country was moving to a "fully offensive" military posture due to the diplomatic stalemate, though there were no reports of fresh strikes by either side on Tuesday.
"There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," Trump said in a post on Truth Social.
#talks #parisa #Dubai
DUBAI/WASHINGTON, Aug 18 (Reuters) - U.S. President Donald Trump said on Tuesday no talks were taking place with Iran and insisted the Strait of Hormuz was open, contradicting Iran's **** ertion that the critical waterway remained shut to shipping.
The receding prospects of a deal to end the nearly six-month conflict drove up oil prices again on Tuesday, while stock markets sagged and borrowing costs for major economies including the U.S. hit multi-decade highs, amid concerns about the long-term inflationary and fiscal impact of the crisis.
A temporary ceasefire agreement expired on Monday and a senior Iranian official told Reuters that his country was moving to a "fully offensive" military posture due to the diplomatic stalemate, though there were no reports of fresh strikes by either side on Tuesday.
"There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," Trump said in a post on Truth Social.
#talks #parisa #Dubai
7 days ago
Wall Street is backing away from a September Fed hike. The bond market is going the other way.
The implied chance of a hike at the Federal Reserve's Sept. 16 meeting has fallen from nearly 100% in late July to roughly one-third. Over the same stretch, the 30-year Treasury yield (^TYX) has climbed from about 5.09% to 5.31%, its highest level since 2007.
At first glance, those moves look backward. If investors expect less tightening from the Fed, longer-term borrowing costs might be expected to ease as well.
Instead, they are rising.
That puts Fed Chairman Kevin Warsh back in an increasingly familiar spot, caught between what the central bank is doing and what financial markets appear to want.
#federal
The implied chance of a hike at the Federal Reserve's Sept. 16 meeting has fallen from nearly 100% in late July to roughly one-third. Over the same stretch, the 30-year Treasury yield (^TYX) has climbed from about 5.09% to 5.31%, its highest level since 2007.
At first glance, those moves look backward. If investors expect less tightening from the Fed, longer-term borrowing costs might be expected to ease as well.
Instead, they are rising.
That puts Fed Chairman Kevin Warsh back in an increasingly familiar spot, caught between what the central bank is doing and what financial markets appear to want.
#federal
7 days ago
On August 7, Construction Partners (NASDAQ:ROAD) held its fiscal third-quarter 2026 earnings call and used it to raise guidance for the second time this year. Revenue climbed 28.2% year-over-year to $999.4 million, and the company closed the quarter with a record $3.36 billion project backlog. Operationally, the infrastructure and asphalt provider is focusing its growth strategy on two key drivers: expanding its commercial footprint in AI data center construction and navigating ongoing federal transportation funding debates in Washington.
CPI's quarter split roughly two ways: 8.9% organic growth and 19.3% from acquisitions, together pushing adjusted EBITDA up 24% to $163 million. Net income landed at $59.6 million, with adjusted EPS of $1.08. Management pointed to more than 1,000 commercial projects expected across its 8 states and 115-plus local markets this year, including a fast-growing data center vertical. In Texas, its Lone Star Paving unit is already working data center jobs with a pipeline exceeding $100 million, and in Oklahoma, the newly acquired Ellsworth Construction adds a further $100 million of active data center work with over $130 million more in the pipeline.
On the public side, CPI won airfield paving work at Pensacola International Airport and more than $80 million in Florida DOT rest-stop contracts along I-4. Management also argued that a proposed federal bill, BUILD America 250 Act, would fund highways at roughly 7.2% above prior levels, and noted that the last three transportation bills all ended up richer than their initial House versions.
Not every line moved the right direction. Gross margin actually slipped slightly, to 16.8% from 16.9% a year earlier, even as revenue surged, with management citing energy cost inflation and unusually wet weather in May. The balance sheet tells a similar story of progress with strings attached: debt to trailing EBITDA fell to 3.1x, but CPI just added a $300 million incremental term loan and expanded its revolver to $700 million, meaning the leverage reduction came alongside fresh borrowing.
On the funding side, management admitted the legislative calendar is tightening as midterms approach, raising the odds Congress leans on a continuing resolution rather than passing a new multiyear bill. And while CPI says a CR wouldn't disrupt fiscal 2027 activity, roughly 45% of the prior infrastructure law's funding still hasn't even been deployed, leaving real uncertainty about pacing.
#year #management
CPI's quarter split roughly two ways: 8.9% organic growth and 19.3% from acquisitions, together pushing adjusted EBITDA up 24% to $163 million. Net income landed at $59.6 million, with adjusted EPS of $1.08. Management pointed to more than 1,000 commercial projects expected across its 8 states and 115-plus local markets this year, including a fast-growing data center vertical. In Texas, its Lone Star Paving unit is already working data center jobs with a pipeline exceeding $100 million, and in Oklahoma, the newly acquired Ellsworth Construction adds a further $100 million of active data center work with over $130 million more in the pipeline.
On the public side, CPI won airfield paving work at Pensacola International Airport and more than $80 million in Florida DOT rest-stop contracts along I-4. Management also argued that a proposed federal bill, BUILD America 250 Act, would fund highways at roughly 7.2% above prior levels, and noted that the last three transportation bills all ended up richer than their initial House versions.
Not every line moved the right direction. Gross margin actually slipped slightly, to 16.8% from 16.9% a year earlier, even as revenue surged, with management citing energy cost inflation and unusually wet weather in May. The balance sheet tells a similar story of progress with strings attached: debt to trailing EBITDA fell to 3.1x, but CPI just added a $300 million incremental term loan and expanded its revolver to $700 million, meaning the leverage reduction came alongside fresh borrowing.
On the funding side, management admitted the legislative calendar is tightening as midterms approach, raising the odds Congress leans on a continuing resolution rather than passing a new multiyear bill. And while CPI says a CR wouldn't disrupt fiscal 2027 activity, roughly 45% of the prior infrastructure law's funding still hasn't even been deployed, leaving real uncertainty about pacing.
#year #management
7 days ago
US stock futures fell on Tuesday as rising tensions between the US and Iran revived inflation concerns, with elevated oil prices adding pressure.
Futures on the Dow Jones Industrial Average (YM=F) slid 0.2%, while those on the S&P 500 (ES=F) declined 0.5%. Contracts for the Nasdaq-100 (NQ=F) retreated 0.9%, leading the major indexes lower after a downbeat start to the trading week.
Oil prices climbed to their highest level in over two weeks after President Trump said he intends to inflict more economic pain on Iran and threatened to "bomb" Oman if it interferes with the US's plans for the Strait of Hormuz.
Brent crude (BZ=F) futures, the international benchmark, hit $91 per barrel, and US benchmark West Texas Intermediate crude futures (CL=F) rose to $84 per barrel as the US Strategic Petroleum Reserve plunged to its lowest level since 1982.
Rising oil, an AI borrowing spree, and concerns over government borrowing have also lifted bond yields globally. In the US, the 10-year Treasury yield (^TNX) hit 4.72%, and the 30-year yield (^TYX) advanced to 5.31%, a 19-year high.
#year #rising #crude
Futures on the Dow Jones Industrial Average (YM=F) slid 0.2%, while those on the S&P 500 (ES=F) declined 0.5%. Contracts for the Nasdaq-100 (NQ=F) retreated 0.9%, leading the major indexes lower after a downbeat start to the trading week.
Oil prices climbed to their highest level in over two weeks after President Trump said he intends to inflict more economic pain on Iran and threatened to "bomb" Oman if it interferes with the US's plans for the Strait of Hormuz.
Brent crude (BZ=F) futures, the international benchmark, hit $91 per barrel, and US benchmark West Texas Intermediate crude futures (CL=F) rose to $84 per barrel as the US Strategic Petroleum Reserve plunged to its lowest level since 1982.
Rising oil, an AI borrowing spree, and concerns over government borrowing have also lifted bond yields globally. In the US, the 10-year Treasury yield (^TNX) hit 4.72%, and the 30-year yield (^TYX) advanced to 5.31%, a 19-year high.
#year #rising #crude
9 days ago
On August 13, Alphabet's (NASDAQ:GOOGL) Google unveiled Gemini 3.7 Flash, a new AI model built for coding and automated business tasks. The launch came without word on when the company's flagship Gemini 3.5 Pro model will arrive, a gap investors have watched closely as a gauge of whether Google's DeepMind unit can keep pace with Anthropic and OpenAI. It also landed the same week that Alphabet closed a $25 billion bond sale and posted its first-ever negative free cash flow quarter.
Gemini 3.7 Flash arrived just three weeks after Gemini 3.6 Flash, a pace that signals Google is iterating quickly on the models it hopes will power autonomous AI agents. The new model targets businesses building systems that can plan tasks, use software tools, and complete multi-step workflows with less human oversight, and Google says it shows improved performance on coding tasks including debugging, issue resolution, and production-ready code generation. To win over developers, Google priced Gemini 3.7 Flash at 75 cents per million input tokens and $3.75 per million output tokens through the end of the year, half the original cost of Gemini 3.6 Flash. It is also rolling out immediately to Gemini Spark, Google's subscription AI agent service available in more than 160 countries.
That pricing sits alongside a cloud business converting AI investment into revenue. Google Cloud's backlog has climbed to $514 billion, and Alphabet expects to recognize a little more than half of it as revenue over the next 24 months. Alphabet also holds more than $240 billion in cash and marketable securities, giving it room to keep funding its buildout as free cash flow comes under pressure.
Alphabet's capital expenditures are now guided to $195 billion to $205 billion for 2026, up from $91 billion in 2025 and $53 billion in 2024. Second-quarter capex alone was $45 billion, double the year-earlier figure, pushing Alphabet to a quarterly free cash flow loss of $5.9 billion. Buybacks have gone to zero, and Alphabet raised roughly $56 billion in debt plus about $50 billion from stock sales in the first half to help cover the gap.
That borrowing culminated in a $25 billion, ten-tranche bond sale that closed Monday, ranging from notes due in 2028 to a $2.5 billion tranche not due until 2066. Much of that money funds servers and networking gear that Alphabet itself depreciates over about six years, meaning a large share of this year's spending will need to be repaid all over again long before the longest bonds come due.
#flow
Gemini 3.7 Flash arrived just three weeks after Gemini 3.6 Flash, a pace that signals Google is iterating quickly on the models it hopes will power autonomous AI agents. The new model targets businesses building systems that can plan tasks, use software tools, and complete multi-step workflows with less human oversight, and Google says it shows improved performance on coding tasks including debugging, issue resolution, and production-ready code generation. To win over developers, Google priced Gemini 3.7 Flash at 75 cents per million input tokens and $3.75 per million output tokens through the end of the year, half the original cost of Gemini 3.6 Flash. It is also rolling out immediately to Gemini Spark, Google's subscription AI agent service available in more than 160 countries.
That pricing sits alongside a cloud business converting AI investment into revenue. Google Cloud's backlog has climbed to $514 billion, and Alphabet expects to recognize a little more than half of it as revenue over the next 24 months. Alphabet also holds more than $240 billion in cash and marketable securities, giving it room to keep funding its buildout as free cash flow comes under pressure.
Alphabet's capital expenditures are now guided to $195 billion to $205 billion for 2026, up from $91 billion in 2025 and $53 billion in 2024. Second-quarter capex alone was $45 billion, double the year-earlier figure, pushing Alphabet to a quarterly free cash flow loss of $5.9 billion. Buybacks have gone to zero, and Alphabet raised roughly $56 billion in debt plus about $50 billion from stock sales in the first half to help cover the gap.
That borrowing culminated in a $25 billion, ten-tranche bond sale that closed Monday, ranging from notes due in 2028 to a $2.5 billion tranche not due until 2066. Much of that money funds servers and networking gear that Alphabet itself depreciates over about six years, meaning a large share of this year's spending will need to be repaid all over again long before the longest bonds come due.
#flow
