Government bond yields soar as markets weigh threat of a recession

Hoxton/Sam Edwards | Getty Images Bond yields jumped this week after another big rate hike from the Federal Reserve, signaling a warning of market distress. On Friday, the policy-sensitive 2-year Treasury yield climbed to 4.266%, hitting a 15-year high, and the benchmark 10-year Treasury yield hit 3.829%, the highest in 11 years. The surge in … Read more

How high inflation may affect which tax bracket you’re in next year

Jamie Grill | Getty Images As Americans grapple with soaring prices, experts say it’s likely we’ll see higher-than-usual inflation adjustments from the IRS for 2023 – covering tax brackets, 401(k) plan contribution limits and more. Embedded in the tax code, these annual IRS changes aim to prevent what’s known as “bracket creep,” when inflation drives … Read more

How to prepare your portfolio as interest rates continue to rise

peg | time | Getty Images After nearly eight months of market volatility, many investors are still worried about rising interest rates and how these changes will affect their portfolios. Some 88% of investors are worried about rising inflation and interest rates, according to a JP Morgan Wealth Management study released Monday, surveying more than … Read more

Millennials’ average net worth doubled during pandemic, report finds

Millennials' average net worth doubled during pandemic, report finds

andresr | E+ | Getty Images Covid-19 relief and historically low interest rates have boosted the finances of many Americans during the pandemic. This has been especially true for millennials, who have built significant wealth on average. Millennials, born between 1981 and 1996, more than doubled their total net worth, reaching $9.38 trillion in the … Read more