| National Debt Tops $40 Trillion After Doubling in Less Than a Decade The Treasury Department's daily financial report shows that the nation's debt reached $40.05 trillion on August 18, more than double its level in 2017. The federal debt has ballooned because government spending on things like the Iran War is outstripping revenue, forcing the U.S. to borrow more money to cover the shortfall. ( More) |
Dow Tumbles 700 pts, S&P 500 Falls as Treasury Plan to Subdue Yields Fails Stocks fell as Treasury yields continued their march higher despite the Treasury Dept’s extraordinary debt buyback operation, raising concerns that higher borrowing costs will throw a wrench into the bull market.The Dow shed 703.84 points, or 1.32%, weighed down by a 9% drop in Walmart shares. The 30-stock index closed at 52,759.21. The S&P 500 lost 0.87% and closed at 7,641.16 (More) | |
| Economy Remains in Growth Mode While We Feel the Pain of Inflation A gauge of future economic growth moved up in July, pushing the six-month performance of the Conference Board’s leading economic index into positive territory. The index increased 0.2% in July to 99.5, after an upwardly revised decline of 0.1% in June. That led the LEI’s six-month growth rate to an increase of 0.2% between January and July, a sharp reversal from its 1.3% contraction over the prior six months. (More) |
Highest Yields in ~20 Years The 30-year yield ended the week at 5.27%, near its highest level in almost two decades. The 10-year yield was at 4.73%, with the 2-year yield at 4.23%. Treasury seeks to double the size of a bond buy- back program starting next month to $4 billion per session from $2 billion. The move targets the 10-, 20-, and 30-year Treasury segments. (More) | |
| U.S. Open Returns The U.S. Open returns to Queens this month, bringing with it intense matches, droves of fans in tennis whites, and, of course, the proliferation of Honey Duece cocktails at the USTA Billie Jean King National Tennis Center. Now in its 145th year, this year's Open will host tennis stars like Aryna Sabalenka, Coco Gauff, Elena Rybakina, Jannik Sinner, Carlos Alcaraz and Novak Djokovic for a month of matches from Aug. 23 to Sept. 13. (More) |
There are certain events that make you appreciate just how special it is to live in New York, and the US Open is one of them. Every August, the best tennis players in the world descend on Queens, bringing with them a little extra energy, competition and excitement to an already energetic city. This week kicks off US Open Fan Week, which means New Yorkers have the chance to get in on the action before the tournament really gets underway. There’s something we love about watching people perform at the very highest level. The preparation, persistence and focus required to get there are a good reminder that success rarely happens overnight. Whether you’re competing on a court, building a business, buying a home or simply working toward your next personal goal, consistency matters. So here’s to a great US Open, a strong finish to summer, and heading into September ready for whatever comes next. |
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