In the Fed’s latest Beige Book survey, “all districts reported elevated levels of economic and policy uncertainty, which have led to hesitancy and a cautious approach to business and household decisions.”
Companies must decide whether to issue now, when rates are higher but tariffs are paused, or wait until autumn, when rates are expected to fall but tariffs may have kicked in.
Risk premiums in the CCC tier of the bond market have jumped more than 150 basis points this year. Still, some argue spreads aren’t yet fully reflecting concerns about growth, trade, and geopolitics.
A three-judge panel rejected the government’s argument that Trump had authority to unilaterally issue tariffs under a law intended to address financial transactions during national emergencies.
In 2022, the U.S. Department of Labor warned fiduciaries to “exercise extreme care” before adding a cryptocurrency option to their plans. Today the agency has rescinded that guidance.
The health insurer is facing a second 401(k) suit this year, alleging forfeited funds from departing employees were improperly used, after settling another 401(k) lawsuit in December for a record $69 million.
