Word: short-term
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That's because long-term interest rates are set in the bond market, not by the Federal Reserve, which dictates short-term rates. Bond traders sell when they anticipate a pickup in inflation, which usually accompanies economic growth and erodes the value of their fixed interest payments. In the past two months, the selling has been heavy, and as a result the average 30-year fixed-rate mortgage has jumped from 5.25% to 6.37%. That move adds $143 to the monthly principal-and-interest payment on a $200,000 mortgage--all because Gross and his kind have had a change...
...tried to follow his edict that if deprived of carbs as a source of energy, the body will burn fat. Although doctors and dietitians dismissed the Atkins plan for years--many blamed it for everything from bad breath to kidney damage--the fat-intensive diet was recently validated when short-term studies showed a lack of negative health effects...
Meanwhile, museum employees have been told to expect substantial layoffs in the coming months, the short-term solution to a projected deficit of up to $1.5 million next year...
...least because it would require Senate ratification. Instead, the U.S. may offer some written guarantee that falls short of treaty status, and indications from Moscow are that Russia and China may be willing to offer extra security guarantees to persuade Pyongyang to sign. Recognizing the difficulty of bridging the ocean of mistrust between the U.S. and North Korea, China, Russia and South Korea are pressing for an immediate temporary freeze on the nuke program in exchange for a short-term security guarantee, while negotiations then continue over a "simultaneous and phased" program of dismantling, inspections and concessions - a "roadmap...
...your broker to make the best choices for you. In a new survey by business professors Michael Jones and Vance Lesseig of the University of Tennessee at Chattanooga and Thomas Smythe of Furman University, just over half of the 530 brokers queried said they would recommend B shares for short-term investors, while 53% favored B and C shares for clients with more than $25,000 to invest. Smythe calls this "very disturbing evidence" that brokers are either as fee-befuddled as their clients--or blatantly self-serving. I call it proof that the only investing watchdog you can rely...