Meta’s filings this week were dominated by its new class of non-voting stock, which would let Mark Zuckerberg raise cash, including enough to pay for a potential California wealth tax without giving up control of the company. Meta says it needs the new shares to fund its AI ambitions: Management’s forecasts “showed the Company’s need
The most important number in the economy has hit its highest level since 2007, and Wall Street can’t decide if this is good or bad. That number is the 10-year Treasury yield, the interest rate that the U.S. government pays to borrow money for a decade and on which almost every other loan in the
President Donald Trump’s financial accounts made nearly 40 times as many trades in one month as those belonging to Treasury Secretary Scott Bessent, a Wall Street veteran with decades of experience. Trump earlier this week disclosed 1,156 transactions made by accounts in his name in July, including 440 purchases and 716 sales, according to a
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
The federal interest burden has reached a new height, exceeding even the 1991 record, but analysts warn the risks associated with servicing the ever-growing national debt today are much higher than they were 35 years ago, analysts warn. A recent analysis from investment management firm Doubleline noted that in 2025, the federal net interest payment
Among the many potential downsides for letting the national debt get too high was that the federal government would suck up so much capital that businesses wouldn’t be left with enough. Today, U.S. debt is at $40 trillion, the federal budget deficit is on track to reach $2 trillion this fiscal year, and debt servicing
