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

Cheapest airline tickets? How to save money on flights and airfare

There are many ways to save money on flights. But booking a plane ticket on a certain day of the week isn’t one of them, according to data from Google Flights. Mid-week booking – and particularly Tuesday around midnight – is often cited as the best time to buy flights. But over the past five … 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

5 most expensive cars up for sale at Pebble Beach

1958 Maserati Source: Motorcar Studios ©2022 Courtesy of RM Sotheby’s Classic cars up for auction in Monterey, Calif., this week are set to break records. Auctions during Monterey Car Week are expected to total between $300 million and $490 million, according to Hagerty Automotive Intelligence, the collectors’ classic car and lifestyle insurance company. Experts say … 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

Average rent in Manhattan was a record $5,000 last month

A Chelsea Tower rental apartments billboard. Jeff Greenberg | Getty Images The average monthly rent for an apartment in Manhattan has topped $5,000 for the first time – and brokers say demand and prices will rise further in the fall. The average apartment rent in June was $5,058, the highest on record, according to a … Read more