News
It's a 5% world. We're just living in it
The cost of borrowing money is moving unrelentingly higher , with profound implications for savers, borrowers and the U.S. government's fiscal outlook. The big picture: The bond market moves over the last few weeks have pushed most risk-free interest rates north of 5%. Barring a rapid reversal, expect pain to come in interest-sensitive sectors like housing, new stress on federal government finances and greater risks…