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Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136

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Park Avenue has over 30 years experience buying and selling Rare Coin and Precious Metals. We have the knowledge and ability to provide our customers with the best products and services.

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Biden Pitches Tax Hike .. Again

Thursday, March 9, 2023

3.8.23 - Biden Pitches Tax Hike .. Again

Gold last traded at $1,813 an ounce. Silver at $20.02 an ounce.

Traders Are Betting the Fed Will Hike Rates by a Half-Point in March -Yahoo! Finance

As we all look for some form of financial reprieve, Wall Street traders are betting it is not coming soon. The Fed continues to move rates in hopes of balancing the economy, all the while they continue to put the squeeze on our budgets.

(Bloomberg) -- Bond traders boosted bets that the Federal Reserve may re-accelerate the pace of rate increases at the policy meeting later this month, after central bank head Jerome Powell said he's ready for faster monetary tightening if economic data justifies it.

Interest-rate swaps Tuesday showed a shift in bets for the March 22 meeting, with a half-point hike seen as more likely than a quarter-point move. Traders are betting that the Fed will raise the key borrowing costs by 109 basis points to a peak of about 5.66% by September.

Shorter-maturity notes led the jump in yields, deepening the inversion of the yield curve and pushing the two-year Treasury rate above 5% for the first time since 2007.

An upside down-shaped curve suggests that traders anticipate a more restrictive policy that will slow down the economy significantly. The Bloomberg dollar index jumped to a level unseen since early January, while the S&P 500 Index tumbled around 1.7%. 

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