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On Thursday, the yield on the US 30-year Treasury bond hit its highest since 2011 and the 10-year note notched its best return since October 2022. Bond yields go up as bond prices fall. What it means: Higher bond yields could mean bad news for stocks: Bonds compete with stocks for investors’ dollars, and when yields go up, equities often go down. If international bond yields rise, the demand for US bonds may decrease, meaning the US may have to offer even higher yields to attract investors. Still, whatever happens abroad, Turnquist said the key to bringing Treasury yields down will be a slower US economy.
Persons: Bond, Stocks, Adam Turnquist, Turnquist, , ” Taylor, Taylor Swift, QuestionPro, Swift, Krystal Hur, Bryan Mena, Elton John’s, Larry Miller, New York University Steinhardt Organizations: CNN Business, Bell, New York CNN, Federal, Federal Reserve, Atlanta Fed, LPL, Treasury, EU, Bank of, Electric, Hawaiian Electric Industries, Street Journal, P Global, CNN, North, New York University Locations: New York, Bank of Japan, Hawaii, Maui, Lahaina, Los Angeles, American, North America
New York CNN Business —Taylor Swift’s era-defining “Eras” tour is flying like a jet stream, high above the music scene — by billions of dollars. The tour could gross $2.2 billion in North American ticket sales alone, according to August survey data from research firm QuestionPro provided to CNN exclusively. ‘An economic phenomenon’“Taylor Swift’s ‘Eras’ tour is rewriting the playbook of entertainment economics,” said Chris Leyden, director of growth marketing at SeatGeek. “She’s not just a performer — she’s an economic phenomenon.”The average resale price of an “Eras” ticket was $1,607, SeatGeek told CNN. Swift kicked off the highly-anticipated “Eras” — her first tour since her “Reputation” stadium tour in 2018 — in March.
Persons: New York CNN Business — Taylor, QuestionPro, Swift, Elton John’s, Larry Miller, New York University Steinhardt, , , Miller, concertgoers, Taylor, Chris Leyden, “ She’s, , SeatGeek, “ Taylor, Terri Shoemaker, Taylor Swift, Hell, Swifties, “ We’ve, Ethan Chernofsky, That’s, it’s, I’ve Organizations: New York CNN Business, North, CNN, New York University, Swift, Arizona Food Bank Network, Retailers, Ticketmaster, Entertainment, Nissan Locations: Los Angeles, American, North America, Arizona, Philadelphia, Nashville , Tennessee, Arlington , Texas
Five years ago, Swift's "Reputation" achieved the biggest ever U.S. sales week by traditional album sales with 1.216 million copies sold. With "Midnights," Swift broke her own record again, reaching 185 million streams on its release day. Midyear Report for 2022," current vinyl album sales — music releases that are less than 18 months old — rose by 27.4%. On the other hand, catalog vinyl album sales — music releases that are 18 months old or older — fell by 8.4% since 2021. The demographics of vinyl buyers also help to explain the large vinyl album sales "Midnights" is seeing.
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