Treasury Secretary Scott Bessent isn’t short of investors keen to rap his knuckles—and his friend and mentor, Stan Druckenmiller, was at the front of the queue. Bessent has been chastised by many for his recent attempt to manage prices in the bond market. As 30-year Treasury yields rose toward a near-20-year high last month, the
When the news this week came out about oil spiking back up above $100 a barrel, analysts didn’t seem to be too concerned. This may be unusual: in the past, oil price surges sent shockwaves through markets and the economy, causing long lines at gas stations and frustrating drivers. But this time, economists say $100
While Florida, California, and New York continue to undeniably be hot spots for wealth, one real estate CEO says there are more markets to watch out for. Ryan Serhant, CEO of his namesake firm and Owning Manhattan star, said high-net-worth clients continue to buy in the historically wealthy and luxury-oriented cities—but they’re also seeking secondary
Congress has put off making tough choices on Social Security for years, but the bill is coming due soon, and it’s looking like taxpayers will pick up the tab. That’s because a small but growing group of lawmakers has signaled openness to shoring up Social Security’s finances by raising more revenue via taxes. The group
I’m having deja vu after Apple’s “Surprise and shine” event, which introduced the company’s first folding phone, the iPhone Duo. It’s on two levels: Back in 2020, Microsoft introduced its take on a folding phone, also called the Duo. I remember talking about it with Panos Panay, at that time Microsoft’s chief product officer, and
MIAMI — Tropical Storm Norbert formed Thursday in the Pacific Ocean and wasn’t threatening land, forecasters said. The storm was about 685 miles (1,102 kilometers) southwest of the southern tip of the Baja California peninsula of Mexico, the Miami-based National Hurricane Center said. It had maximum sustained winds of 40 mph (64 kph) and was
