Category: Economic

Bonds Yields Jump Again Wiping Out the May Treasury Rally

Mary Pat Campbell

Link: https://mishtalk.com/economics/bonds-yields-jump-again-wiping-out-the-may-treasury-rally/

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Yield on the 10-year treasury is 4.59 percent on May 29, right where it started the month. A quarter-point rally on hopes of rate cuts vanished today.

Yields are still lower than the 2024 intraday peak of 4.74 percent, but they are nearly 70 basis points higher than the start of the year as rate cut after rate cut hopes keep getting priced out.

Minneapolis Federal Reserve President Neel Kashkari says he wants to see “many more months” of positive inflation numbers before interest rates start to come down — and refused to rule out a rate hike if needed.

Author(s): Mike Shedlock

Publication Date: 29 May 2024

Publication Site: Mish Talk

Closing the Racial Wealth Gap in Retirement Readiness

Mary Pat Campbell

Link: https://knowledge.wharton.upenn.edu/article/closing-the-racial-wealth-gap-in-retirement-preparedness/?utm_campaign=KatW_Monthly2023&utm_medium=email&utm_source=kw_campaign_monitor&utm_term=7-2-23&utm_content=Closing_the_Racial_Wealth_Gap_in_Retirement_Readiness

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One factor undermining older Americans’ ability to prepare financially for retirement is the debt burden they carry. Increasingly, adults are carrying debt into retirement, according to Mingli Zhong, research associate, and Jennifer Andre, data scientist at the Urban Institute.

Their presentation on “Racial Differences in Debt Delinquencies and Implications for Retirement Preparedness” tracked some 4.8 million adults age 50+ who had credit bureau records. They found that the median debt amount for older households with debt was about three times higher in 2016 ($55,300) than in 1989 ($18,900 in real 2016 dollars).

The authors also reported racial disparities in debt levels. Compared to an older adult in a majority-white community, a typical older adult in a community of color is more likely to have any type of delinquent debt, carry a higher balance of total delinquent debt, and have a higher balance of medical debt in collections. The older adult living in a majority-white area has a higher balance of delinquent student loan debt and delinquent credit card debt, they also found.

Author(s): Olivia S. Mitchell, Sylvain Catherine

Publication Date: 6 June 2023

Publication Site: Knowledge at Wharton

Quotes of the Day on Rent Inflation By the Fed and Property Managers

Mary Pat Campbell

Link: https://mishtalk.com/economics/quotes-of-the-day-on-rent-inflation-by-the-fed-and-property-managers/

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According to data from the U.S. Census Bureau, moving rates for Americans declined from 12.8% in 2021 to 12.6% in 2022.

But what is it for 2024?

My guess has been 9 percent in a range of 8 to 11 percent or so. But we will not know that for two more years.

Author(s): Mike Shedlock

Publication Date: 13 May 2024

Publication Site: Mish Talk