The Bond Market Is Nervous Over Washington’s $31.4 Trillion Debt | Economy

The US Treasury market is one of the largest and most liquid in the world, where investors from ordinary Americans to the governments of China and Japan go to buy the debt of the federal government.

Lately, it has also been one of the most volatile as the Federal Reserve raised interest rates to their highest levels since disco ruled the radio dial. Yields between various maturities, or the amounts that government bonds pay out over time, are inverted – meaning investors are being paid less to own a 10-year bond than they are a six-month bill. That’s often a sign of an impending recession, as the economy is perceived to be more perilous in the short term than further out on the horizon.

But there’s something else rattling the Treasury market: fear about what Washington may do to ensure the government continues to pay its debt.

The federal government technically reached the statutory limit of its borrowing power back in January, the $31.4 trillion debt ceiling beyond which it cannot raise more money to pay its existing bills. However, the Treasury Department is using “extraordinary measures” to keep things going, curtailing some payments into government retirement plans and other moves that have bought some time.

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How much time? That is a matter of some debate, but there is a general agreement that the “x” date when these measures will not be enough is going to fall somewhere between June and September. Exactly when it is hard to pin down as it depends on how much money is coming into the government through taxes and other sources of revenue. At best, the dates are based on projections that may or may not prove to be accurate.

To debt holders, that can be unnerving. If the government does default, something has never been done, or even if payments are delayed or prioritized (meaning some people get paid and others don’t, or not as quickly) it could leave bondholders in the lurch. Or credit-rating agencies could downgrade the US government’s creditworthiness, making it more expensive to borrow in the future.

“We lifted the debt limit. We’ve sent it to the Senate. We’ve done our job,” McCarthy said after passage.

Now the fun begins. The Senate considered the bill a non-starter and the White House issued a statement saying, “President Biden will never force middle class and working families to bear the burden of tax cuts for the wealthiest, as this bill does. The President has made clear this bill has no chance of becoming law.”

Some sense of how the bond market is viewing things can be seen in the performance of the one-month Treasury bill, a short-term instrument that is widely used to park cash that may be needed for investment or for redemptions from money-market funds and other short-term accounts.

At the end of March, the one-month was yielding 4.704% but as of Thursday, that had fallen to 3.795%. The three-month Treasury, by contrast,

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Tucker Carlson breaks silence after abrupt departure from Fox News | Fox News

Tucker Carlson has broken his silence for the first time since his abrupt departure from Fox News, posting a video to Twitter that did not directly address his reported firing.

Carlson was one of the network’s biggest stars, and gained a large following while spouting xenophobic and racist rhetoric on his show, Tucker Carlson Tonight. He left Fox News without explanation on Monday. News outlets have reported that Carlson was fired on the personal order of Fox owner Rupert Murdoch for, among other things, using vulgar language to describe a female executive.

On Wednesday, Carlson shared a cryptic two-minute video on his Twitter account that did not explain his exit, but offered sweeping complaints about the state of American discourse. He said what he noticed “when you step away from the noise for a few days,” is how nice some people are.

“The other thing you notice when you take a little time off is how unbelievably stupid most of the debates you see on television are,” he added. “They’re completely irrelevant. They mean nothing. In five years we won’t even remember what we heard. Trust me, as somebody who participated.”

Fox hasn’t commented publicly on why it cut ties with Carlson, but it came after Fox News last week agreed to pay voting equipment company Dominion $787.5m to settle a high-profile defamation lawsuit.

Carlson’s stunning departure is reportedly connected to a lawsuit filed by his former senior booking producer Abby Grossberg, who claims she faced sexism and a hostile work environment.

Fox News said in an official statement that Carlson and the network had “mutually” agreed to separate.

On Monday, Fox News immediately replaced Carlson’s slot with a rotating roster of hosts until a permanent replacement could be found, the network said. In his video on Wednesday, Carlson implied his fans had not seen the last of him.

“Where can you still find Americans saying true things?” he said. “There aren’t many places left but there are some and that’s enough. As long as you can hear the words, there is hope. See you soon.”

Associated Press contributed to this story

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Russia-Ukraine live updates: Ukraine says it’s ‘ready’ for counteroffensive

Russian airstrikes targeted several cities across Ukraine early Friday, killing at least 25 people, Ukrainian officials said.

The city of Uman in central Ukraine’s Cherkasy Oblast was the worst affected. Several buildings were damaged or destroyed. One of the strikes hit an apartment building, killing at least 23 people, including four children, and injuring another 18 people, according to the Cherkasy Oblast Gov. Ihor Taburets. The attack happened at around 4:30 am local time, when most people would have been asleep. An entire section of the nine-story building collapsed, with 27 apartments completely destroyed. There were 109 people who lived in that part of the building, according to Ukrainian police. Rescue teams were expected to spend all day and night searching for survivors in the rubble.

It was the deadliest single attack on civilians in Ukraine since January.

Dnipro, Ukraine’s fourth-largest city and a major industrial hub located in southeastern Dnipropetrovsk Oblast, was hit by “high-precision” strikes in the early morning hours, leaving a woman and a 3-year-old child dead, according to Dnipro Mayor Boris Filatov.

Russian strikes also targeted Kyiv, Ukraine’s capital and largest city, but there were no reports of any casualties or damages. It was the first such attack on the capital in 51 days, according to the Kyiv City Military Administration. Preliminary data shows 11 cruise missiles and two drones were destroyed in Kyiv’s airspace, the city military administration said.

-ABC News’ Yulia Drozd, Will Gretsky, Natalia Kushnir and Joe Simonetti

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Today’s news in 10 minutes

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The Weekly Newsquiz tests your knowledge of events in the news

April 28, 2023

CNN 10 delves into the debt ceiling debate and how it impacts the American people. Then CNN 10 takes you to outer space where the world’s first commercial lunar lander is presumed lost. And before you go, CNN 10 heads to Alaska where a moose tries to sneak into a movie theater. All that and more on this episode of CNN 10.


1. Featured in Monday’s episode, which African country is seeing heavy fighting between rival military factions?

2. Which country in South America has seen protests flooding the streets due to the economic crisis?

3. Which European city recently started displaying artifacts in a new hands-on way from a new Colosseum museum?

4. What formal announcement did President Joe Biden make earlier this week?

5. If President Biden is re-elected, how old would he be on completion of a second term?

6. The president of what Asian nation was hosted at the White House this week?

7. Which animal is used as a diplomatic gift by China?

8. The US House of Representatives passed a bill this week that would increase the US debt limit by how much?

9. Which country looked to land on the moon the world’s first commercial lunar lander?

10. What location in the Florida Keys translates to “purple island”?

Click here to access the printable version of today’s CNN 10 transcript

CNN 10 serves a growing audience interested in compact on-demand news broadcasts ideal for explanation seekers on the go or in the classroom. The show’s priority is to identify stories of international significance and then clearly describe why they’re making news, who is affected, and how the events fit into a complex, international society.

Thank you for using CNN 10

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Woman bitten by black bear Avon

AVON, CT (WFSB) – A woman was bitten by a bear in Avon on Friday morning.

The Department of Energy and Environmental Protection said it was investigating the attack. It held a news conference at 1 pm:

Police confirmed that it happened in the area of ​​Berkshire Crossing and New Road.

The victim was a 74-year-old woman who was out walking her dog. She suffered non-life-threatening injuries, according to DEEP.

The woman suffered from superficial injuries with minor puncture wounds, police said.

She managed to walk back to her home and call for help.

After declining medical attention on the scene, she went to the hospital herself to be treated.

“In these situations, public safety is DEEP’s top priority,” DEEP said. “Under DEEP’s Black Bear Response protocol, an attack on a human is a category 4 response, meaning humane euthanization of the bear.”

DEEP confirmed that the bear was euthanized.

DEEP said it was unclear what might have provoked the bear, but that bears can see dogs as predators.

They also said she had three younglings who were not dependent on her.

It asked anyone who witnessed the incident Friday morning to contact its 24-hour dispatch center at 860-424-3333.

Emergency crews were on the scene of a bear attack in Avon.

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