Economy
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A debt-ceiling deal will spark a new worry: Who will buy the deluge of Treasury bills?
When the U.S. debt-ceiling fight finally is resolved, the Treasury is expected to unleash a flood of bill issuance to help refill its coffers run low by the protracted standoff in Washington, D.C., over the government’s borrowing limit. Treasury bills are debt issued by the U.S. government that mature in four to 52 weeks. New…
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Debt-ceiling angst sends Treasury bill yields toward 6%
Continued uncertainty about whether a debt-ceiling resolution can come together fast enough to avoid a government default pushed yields on Treasury bills maturing between early and mid-June toward 6% on Tuesday. The yield on Treasury bills maturing on June 6 touched that level before slipping slightly to 5.997% Tuesday afternoon, according to Bloomberg data. Meanwhile,…
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Goldman Sachs says weak investment flows suggest limited upside for the S&P 500
Investment flows into the U.S. financial market have been weaker than the S&P 500 index returns over the past two months, suggesting a headwind for equities over the coming weeks, said analysts at Goldman Sachs. The S&P 500 SPX, -1.12% return has been 7% stronger than investment flows in the past few months, said a…
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U.S. stocks close lower as debt ceiling talks drag on with deadline due in days
The Dow Jones Industrial Average on Tuesday closed at the lowest level in a week, as worries about the debt ceiling negotiations in Washington outweighed data suggesting economic growth remains resilient, while yields on Treasury bills maturing between early and mid-June climbed toward 6% on Tuesday. How stocks traded The Dow DJIA, -0.69% finished 231.07…
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It’s important for Fed to keep its options open at June meeting, Daly says
San Francisco Federal Reserve Bank President Mary Daly said Monday she wants central bankers to keep an open mind when they gather in June to decide what to do with interest rates at that meeting and at the other four policy meetings scheduled for this year. “I really think at this point in our tightening…
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U.S. stocks kick off week on cautious note as debt-ceiling talks continue
U.S. stocks saw a mixed start to the week ahead of more government debt-ceiling talks later on Monday, though the S&P 500 and Nasdaq Composite managed to remain near 2023 highs. Meanwhile, investors were weighing remarks by Federal Reserve officials about whether it would be appropriate to hold interest rates steady at the central bank’s…
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4 strategies to recession-proof your retirement plan
Protecting your retirement in the face of a potential recession means taking a hard look at your financial plan and making sure you have enough of a safety net if the economy falters later this year or next year. As many as two-thirds (67%) of U.S. adults expect the economy will enter into recession later…
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Biden says in Hiroshima press conference that Republicans must ‘move from their extreme positions’ on debt limit
President Joe Biden on Sunday called for Republicans to agree to compromises in debt-ceiling negotiations, as he wrapped up a visit to Japan for a G-7 summit and prepared to fly back to Washington, D.C. “Now it’s time for the other side to move from their extreme positions, because much of what they’ve already proposed…
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These are the leading candidates to succeed James Gorman as Morgan Stanley CEO — and what happens next
Morgan Stanley Chief Executive James Gorman said Friday that he plans to step down as the bank’s chief executive officer within a year, observing that the investment bank has a strong bench of internal candidates to serve as its next leader. “ ‘There’s an old saying … that when you have to hire an outside…
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Pay ranges in job listings are widening. It’s a ‘double-edged sword’ for job seekers, one economist says.
Salary ranges are getting wider for certain jobs — particularly those in technology hubs and in states with pay-transparency laws. Job listings in the fields of pharmacy, medical information, scientific research and development, industrial engineering, and software engineering are showing increasingly large pay ranges, according to a new study by Indeed Hiring Lab. While 45%…