Some U.S. government bonds are paying the highest interest rates since 2007 when the Great Recession loomed. Rates have risen to try to hold investors, who have been fleeing the bonds in expectation that interest rates will rise further as the Iran War enters its fourth month.
The job market continues to weaken despite headline figures suggesting stability.
The U.S. economy grew just 1.6 percent in this year’s first quarter, the commerce department said last week, revising its earlier estimate of a 2-percent expansion.
In April, the U.S. savings rate – the amount of money a household has left after expenses and paying taxes – fell to 2.6 percent of income, one of the smallest proportions since the 1960s.
Berkshire Hathaway is expanding its presence in the homebuilding industry with an all-cash purchase of Taylor Morrison, one of the largest homebuilders in the U.S.
With nations slapping tariffs on Chinese imports and domestic demand still weak, China’s manufacturers are exporting not just their products but also themselves around the world.
American households are spending an average of $447.19 a month more in engine fuel since the Iran War began, Moody’s Analytics told CNBC. That totals an extra $60 billion out of pocket nationwide.
Canada’s economy contracted unexpectedly in this year’s first quarter, shrinking 0.1 percent, the national statistics agency reported on 29 May.
Credit card accounts 90 days or more behind on payments rose to 13.12 percent in this year’s first quarter, the most since 2011 during the throes of the Great Recession, according to the Federal Reserve Bank of New York.
Loans that British banks make to non-financial companies are the least since 1998, the Boston Consulting Group (BCG) reported.