Finance
Macro economy, markets, and crypto.
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10-year Treasury yield hits 5.23%, highest since 2007, as rate-hike bets build
The benchmark yield rose from just under 4.8% earlier in September as oil neared $100, a manufacturing gauge beat forecasts and consumers’ year-ahead inflation expectations jumped…
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Appeals court rules Ohio and Tennessee can apply gambling laws to Kalshi sports contracts
A unanimous Sixth Circuit panel found Kalshi had not shown its sports event contracts are swaps under federal law, deepening a split among appeals courts that…
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Tax fraud costs the government $116 billion to $304 billion a year, GAO estimates
The range equals roughly 2% to 6% of total tax owed; GAO said the IRS has no antifraud strategy or lead antifraud office, and the agency…
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Fed proposes reserve and capital rules for bank-backed stablecoin issuers
The Federal Reserve’s GENIUS Act proposals would require full backing with cash-like assets and set capital charges that rise with the number of coins in circulation.
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Trump backs diesel export ban; White House says a day later it is not preparing one
Trump said he had called for keeping U.S. diesel at home as prices hit records. Energy Secretary Chris Wright said a ban “definitely doesn’t work,” and…
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Commerce moves to block polysilicon stockpiling ahead of Dec. 4 Section 232 tariffs
A temporary rule lets Commerce cut off importers whose polysilicon shipments far exceed their historic averages and caps weekly volumes for importers registered since Aug. 6.
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