Data: Federal Reserve; Chart: Neil Irwin/Axios The Iran war is sending longer-term borrowing costs surging amid prospects for higher inflation, fewer Federal Reserve rate cuts and more federal borrowing. Why it matters: Higher rates create new pressure for an already-faltering housing sector, make the U.S. government's fiscal challenges worse and could weigh on business investment and consumers alike. - It contrasts with past geopolitical tumult, when money frequently flowed into Treasury securities as a safe haven. Driving the news: The 10-year Treasury note yielded 4.45% at around 10:30am ET, up half a percentage point from 3.96% just before the U.S. and Israeli attack on Iran. It receded some and was at 4.42% by 11:45am ET. - This…
Law enforcement officials did not identify a suspect or motive, but told Nerdeen Kiswani, a co-founder of the pro-Palestinian group Within Our Lifetime, that she had been targeted, her lawyer said.
The House Ethics Committee has found evidence that Rep. Sheila Cherfilus-McCormick violated House rules. This comes after the panel held a rare public hearing to review investigations into allegations against the Florida Democrat.
Military members sharing clips on Instagram and TikTok have helped recruit badly needed new soldiers, but Bundeswehr officials said they are concerned about security.
A favorite of actors like Maggie Smith, he produced dozens of plays, including “The Audience,” about Queen Elizabeth II, which was made into the Netflix show “The Crown.”
Diesel has climbed faster than gasoline this month, directly hitting businesses, from brewers to trucking companies. Those higher costs are likely to make their way into consumer prices.
A small street stall and a big restaurant chain in India rethought how to cook after the war in the Middle East squeezed their supply of liquified petroleum gas.
The Ethics Committee panel cited a years-long inquiry into whether Sheila Cherfilus-McCormick misused covid pandemic money. She has maintained her innocence.