Treasury yields leap after much hotter jobs report than expected

U.S. Treasury yields rose Friday after jobs data came in much better than expected. The 10-year Treasury yield was up more than 12 basis points at 3.526%. The 2-year Treasury was up roughly 20 basis points to 4.299%. Yields and prices move in opposite directions and one basis point equals 0.01%. Nonfarm payrolls increased by … Read more

View More Treasury yields leap after much hotter jobs report than expected

U.S. credit card debt jumps 18.5% and hits a record $930.6 billion

For most Americans, inflation and rising interest rates are a one-two punch. On the heels of another rate hike this week by the Federal Reserve, credit card annual percentage rates are already near 20%, on average, and set to climb even higher. At the same time, more consumers are leaning on credit to afford increasingly expensive … Read more

View More U.S. credit card debt jumps 18.5% and hits a record $930.6 billion

Bank Of England Raises Interest Rate Tenth Time In Row, Up To 4%

The Bank of England will lift its key interest rate by a half-point to 4.0 per cent. London: The Bank of England on Thursday hiked its interest rate for a tenth time in a row as global authorities race to combat sky-high inflation. The central bank’s Monetary Policy Committee voted at a regular meeting to lift its key interest rate … Read more

View More Bank Of England Raises Interest Rate Tenth Time In Row, Up To 4%

Blackouts and soaring prices: Pakistan’s economy is on the brink | CNN Business

Islamabad/London CNN  —  Muhammad Radaqat, a 27-year-old greengrocer, is worried. He doesn’t know how much an onion will cost next week, let alone how he’ll be able to afford the fuel he needs to heat his home and keep his family warm. “All we’re being told by the government is that things are going to … Read more

View More Blackouts and soaring prices: Pakistan’s economy is on the brink | CNN Business

Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money

The Federal Reserve raised the target federal funds rate for the eighth time in a row on Wednesday, in its continued effort to tame persistent inflation. At its latest meeting, the central bank approved a more modest 0.25 percentage point increase after recent signs that inflationary pressures have started to cool. “The easing of inflation pressures … Read more

View More Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money

Wait until age 70 to claim Social Security: ‘The return on being patient is huge,’ says economist

Moyo Studio | E+ | Getty Images The first Social Security check was issued 83 years ago. The check, for $22.54, went to retired legal secretary Ida May Fuller of Ludlow, Vermont. Today, in 2023, the average retirement benefit is $1,827 per month, according to the Social Security Administration. The maximum Social Security benefit for … Read more

View More Wait until age 70 to claim Social Security: ‘The return on being patient is huge,’ says economist

As some retirees worry about surprises this tax season, these resources may help

Allison Michael Orenstein | Getty Images As the tax season kicks off, seniors may be facing new questions this year. A record 5.9% Social Security cost-of-living adjustment last year likely pushed up their income. Meanwhile, other income, such as required minimum distributions, other retirement account withdrawals or part- or full-time work may make filing more … Read more

View More As some retirees worry about surprises this tax season, these resources may help

India may have to walk a tightrope as budget looms, analysts say

India’s finance minister will present the annual budget to parliament on Wednesday. Seen here is a roadside vendor selling rice in Mumbai, India. Bloomberg | Getty Images India’s finance minister will present the annual budget to parliament on Wednesday. It comes as the government faces a tough balancing act to ensure fiscal prudence and growth … Read more

View More India may have to walk a tightrope as budget looms, analysts say

Euro zone inflation dips for a third straight month as energy prices continue to fall

Inflation in the euro zone eased in the last two months of 2022 but the economic indicator is still well-above the 2% mandate of the European Central Bank. Jeff Greenberg | Universal Images Group | Getty Images Inflation in the euro zone dropped for a third consecutive month in January on the back of a … Read more

View More Euro zone inflation dips for a third straight month as energy prices continue to fall

Britain hit by biggest day of strikes in a decade as pay disputes escalate | CNN Business

London CNN  —  As many as half a million workers are striking across Britain on Wednesday, closing schools, canceling university lectures and bringing most of the rail network to a standstill in what unions say will be the biggest single day of walkouts in more than a decade. Teachers, university staff, train drivers and civil … Read more

View More Britain hit by biggest day of strikes in a decade as pay disputes escalate | CNN Business