Cody Easterday admitted billing Tyson for over 260,000 heads of cattle that didn’t exist, in order to cover over $200 million in commodity-trading losses.
A selloff for the ages in the bond market has yields flirting with crisis levels. Bond investors aren’t all convinced that’s enough for what comes next.
“The Fed will have no choice but to reliquefy the system,” an event that is likely to happen by the end of the World Series, Minerd writes on Thursday.
The U.K housing market is starting to cool down after house prices fell in September from a record high in August, as rising interest rates put “significant downward pressure” on mortgage rates, lender Halifax said on Friday.
The increase in new jobs in September slowed to a 17-month low of 263,000 due to ongoing labor shortages and waning demand for new workers as talk of recession grows, but it was still too strong for a Federal Reserve bent on slowing the economy and tackling high inflation.
Treasury yields rose Friday after the U.S. September payrolls report showed a surprise decline in unemployment as well as growth in wages, making a pivot in Fed policy less likely.