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☆ Inside the Growing Alarm Over Blackstone's BREIT Real-Estate Fund
▼ + stars: | 2024-05-07 | by ( Bethany Mclean | ) www.businessinsider.com time to read: +23 min

Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.

Persons: Blackstone, —, BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres

☆ It's going to be a massive week for the stock market
▼ + stars: | 2024-04-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

It's a big week for the stock market with a deluge of economic data set to be released. AdvertisementIt's going to be a massive week for the stock market as investors prepare for a deluge of economic data and corporate earnings results. Raymond James' chief investment officer Larry Adam highlighted the top five things to watch this week that could have a big impact on stock market prices. Finally, the April jobs report set to be released on Friday will be closely watched by investors. The jobs report will provide an update on the strength of the labor market," Adam said.

Persons: Raymond James, —, Larry Adam, Adam, Jerome Powell, Powell, Treasurys Organizations: Fed, Service, Treasury Department, Treasury, Apple, Investors, ISM Manufacturing, Manufacturing

☆ Roku security breach: 576,000 accounts affected by cyberattack, company says
▼ + stars: | 2024-04-12 | by ( John Towfighi | ) edition.cnn.com time to read: +2 min

CNN —About 576,000 Roku accounts were compromised in a cyberattack, the company said on Friday, the second security breach for the streaming service this year. The security breach was discovered while Roku monitored account activity after a cyberattack affected 15,000 accounts earlier this year. Credentials used to access Roku accounts were likely from a data breach on a different site, the company said in a statement. User passwords have been automatically reset, and users affected by the security breach will be contacted by Roku, the company said in a statement. Your account security is a top priority, and we are committed to protecting your Roku account,” the company said in a statement.

Persons: Roku, fraudsters, there’s, “ Organizations: CNN

☆ Refund fraud schemes promoted on TikTok, Telegram are costing Amazon and other retailers billions of dollars
▼ + stars: | 2024-03-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +14 min

The following month, 10 men were indicted in Oklahoma, charged with conspiracy to commit wire fraud for allegedly operating a refund fraud service named Artemis Refund Group. A thriving refund fraud marketFor every refund fraud service shut down by law enforcement, swarms of similar groups remain open for business. CNBC viewed several active refund fraud services on encrypted messaging app Telegram, each with thousands of followers. Zoom In Icon Arrows pointing outwards A Google form from an active refund fraud service explaining which stores it targets and how much it charges customers. Zoom In Icon Arrows pointing outwards A refund fraud service claims to have access to Amazon insiders in a Telegram post.

Persons: Stephanie Keith, Noah Page, Page, he'd, Ralph, —, Rick Owens, Sajed Al, Ralph Lauren, Uber, Maarej, Chris Black, Amazon, Al, they'd, Rekk, Cyril Noel, Tagoe, Noel, Louis Vuitton, scammers, Reddit, Brittany Allen, Allen, Remi Vaughn, Vaughn, she's, David Johnston, Johnston Organizations: Bloomberg, Getty, CNBC, National Retail Federation, Appriss, Amazon, Page, Riverside Press, Medianews, PayPal, Retailers, Artemis, Walmart, Apple, Nike, eBay, Saks Fifth, DoorDash, Google, MacBook, Mail, UPS, U.S . Postal Service, Al, Rekk, Gucci Locations: New York, Chattanooga , Tennessee, Reddit, TikTok, Eastvale, Michigan, Oklahoma, Chattanooga

☆ FTC to send $4.1 million to over 27,000 borrowers defrauded by student loan forgiveness scams
▼ + stars: | 2024-03-13 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

The Federal Trade Commission announced on Wednesday it is refunding $4.1 million to 27,584 consumers who fell victim to student debt forgiveness scams. Fraudsters "tricked students into paying hundreds to thousands of dollars in illegal upfront fees and pretended to lower consumers' monthly student loan payments," the FTC said in a press release. Additionally, the operators claimed to take over the servicing of consumers' loans and thus, often pocketed consumers' monthly payments, the agency said. Scammers lure student loan borrowers by offering ways to lower their monthly payments or even eliminate their balances. Use these tips to avoid losing money to a student loan scammer.

Persons: Fraudsters, it's, scammer Organizations: Federal Trade Commission, Mission Hills Federal, Federal Direct Group, Data Initiative, FTC, Department of Justice

☆ Kyrsten Sinema is still sitting on over $11 million in campaign cash — and she could easily use it to fuel her post-Senate life
▼ + stars: | 2024-03-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +8 min

At the end of January, the Arizona senator reported holding nearly $10.6 million cash on hand in her campaign account and another $466,000 in her leadership PAC. AdvertisementNow, it's far from clear what will happen to those "resources" — Sinema's campaign did not respond to Business Insider's request for comment last week on the matter. There are a few different ways this could play out if Sinema decides to keep a "zombie PAC" running. Elizabeth Warren and Michael Bennet once introduced a bill to crack down on "zombie PACs." Advertisement"A lot of people use that to stay in the game because a leadership PAC is kind of a slush fund.

Persons: —, What's Sen, Kyrsten Sinema, Ruben Gallego, Kari Lake, Sinema, Arizonans, Saurav Ghosh, Ghosh, That's, Republican Sen, Rob Portman, Portman, Matt Dolan, Anna Moneymaker, he's, Kelly Ayotte, who's, Aaron Scherb, it's, She'd, she'd, Democratic Sens, Michael Bennet of Colorado, Elizabeth Warren of, Elizabeth Warren, Michael Bennet, Bill Clark, Bennet, she's, airfare, Jordan Libowitz Organizations: Service, Senate, Democrat, Democratic Rep, Business, Bloomberg, Republican, American Enterprise Institute, US, Republicans, Democratic, Daily Beast, Citizen, Washington, Commission, PAC Locations: Arizona, Ohio, New Hampshire, Elizabeth Warren of Massachusetts, Washington, Europe

☆ After student loan forgiveness, the Education Dept. is sending some borrowers refunds. What to know
▼ + stars: | 2024-02-22 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

So far, almost 3.9 million borrowers have gotten their education debt erased, totaling $138 billion in relief . Under the U.S. Department of Education's income-driven repayment plans, student loan borrowers are entitled to get any of their remaining debt forgiven after 20 or 25 years. The companies earn a fee per borrower per month, which advocates say discourages transparency around loan forgiveness opportunities. "Loan servicers were not tracking the number of qualifying payments, and the automatic forgiveness was not occurring," Kantrowitz said. Scott Buchanan, executive director of the Student Loan Servicing Alliance, a trade group for federal student loan servicers, denied that the companies benefit by veering from the government's orders.

Persons: Joe Biden, Culver City Julian, Mark Kantrowitz, servicers, Nadine Chabrier, Kantrowitz, he'd, Scott Buchanan, Buchanan, Biden, who've, Persis Yu Organizations: Culver City, Culver City Julian Dixon Library, Education Department, U.S . Department of Education, U.S . Department, Center for, Lending, The Education, Finance, IRS, Student Loan, Alliance, Student, Protection Locations: Culver City , California, U.S

☆ Embattled New Jersey Sen. Bob Menendez raised less than $16,000 after getting indicted and found with gold bars in his home
▼ + stars: | 2024-02-01 | by ( Madison Hall | ) www.businessinsider.com time to read: +1 min

In September, Sen. Bob Menendez received a federal indictment alleging he'd accepted foreign bribes. Since then, his campaign reported raising less than $16,000 and refunding at least $16,200. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSen. Bob Menendez's reelection campaign is in trouble after he failed to raise even $16,000 after he was indicted and alleged to have accepted bribes from foreign countries. This story is available exclusively to Business Insider subscribers.

Persons: Sen, Bob Menendez, he'd, —, Bob Menendez's, Menendez Organizations: Service, Federal, Commission, Business

☆ The Fed pushed back against imminent rate cuts this week. Here's what that means for the housing market.
▼ + stars: | 2024-02-01 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

More importantly, though was Federal Reserve Chair Jerome Powell's pushback against the idea that rate cuts are imminent. So, what does this mean for the housing market, which is eagerly anticipating lower rates to make housing even slightly more affordable? According to Redfin, pushing out timelines for Fed rate cuts means mortgage rates are likely to remain elevated for longer this year, but it doesn't mean relief is off the table for homebuyers in 2024. "Regardless of any short-term volatility in mortgage rates, we expect rates to come down gradually throughout the year," Redfin's Chen Zhao wrote following the Fed meeting. AdvertisementThe real estate group notes that other forces are at work in the mortgage market as well, and the Fed isn't the only input.

Persons: —, Jerome Powell's pushback, Redfin's Chen Zhao, Redfin, we'll, Powell, Fannie Mae Organizations: Service, Reserve, Business, US Department of, Treasury, Bank of America

The announcement Thursday came just weeks before Attorney General Bob Ferguson's case was set for trial against Providence Health and Services, which operates 14 hospitals in Washington under the Providence, Swedish and Kadlec names. “Hospitals — especially nonprofits like Providence — get tax breaks and other benefits with the expectation that they are helping everyone have access to affordable health care,” Ferguson said at a news conference. “When they don't, they're taking advantage of the system to their benefit.”Providence has already erased about $125 million in medical debt following the state's lawsuit two years ago, Ferguson said. “Charity care and financial assistance are vital resources for patients who cannot afford health care,” said Providence Chief Financial Officer Greg Hoffman. The state is still pursuing related claims against two debt-collection firms Providence used.

Persons: Washington —, Bob Ferguson's, ” Ferguson, Ferguson, ”, Greg Hoffman, Providence Organizations: SEATTLE, Providence Health and Services, Providence, ” Locations: Providence, Washington

The recordings immediately went viral on social media, and the candidate, who is pro-NATO and aligned with Western interests, was defeated in September by an opponent who supported closer ties to Moscow and Russian President Vladimir Putin. AI images that falsely depicted former President Donald Trump sitting with teenage girls on Jeffrey Epstein’s plane circulated on social media last month. And once a deepfake appears on social media, it can be nearly impossible to stop its spread. Šimečka said his team and others complained to social media platforms and law enforcement. He said social media platforms need to “put measures in place” to prevent attempts to meddle with an election.

Persons: he’d, Vladimir Putin, ”, Joe Biden’s, Donald Trump, Jeffrey Epstein’s, Trump, “, Subrahmanian, Alex Curtas, Curtas, Jared DeMarinis, ’, ” DeMarinis, Chelsea Carattini, Ilana Beller, haven’t, ” Beller, Paul Vallas, Sean R, Clark, ” Vallas, Vallas, Brandon Johnson, ” “ We’ll, Slovakia Michal Šimečka, ” Šimečka, Šimečka, ” Daniel Milo, Milo, it’s, ” Milo, Janis Sarts, ” Sarts Organizations: CNN, NATO, Northwestern University, Senior, Twitter, Democratic, Chicago, Political, FBI, Department of Homeland Security, Public Citizen, State’s, Republican Party, Commission, Progressive, YouTube, Facebook, Slovakia’s Ministry, Meta, NATO Strategic Communications, of Excellence, Foreign Intelligence Service, Russian Intelligence Locations: Slovakia, Moscow, Europe, States, New Hampshire, Russia, China, Russian, Northwestern, American, California , Michigan, Minnesota , Texas, Washington, New Mexico, Idaho, Chicago, Progressive Slovakia, Slovakia’s, Latvia

☆ Dollar holds firm before Fed rates decision
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: +3 min

On the day, the dollar index was up 0.1% to 103.51, just below Monday's 103.82 which matched last week's seven-week high. The Federal Reserve meanwhile is expected to hold U.S. interest rates steady on Wednesday but flag cuts are coming by dropping language indicating it is weighing further hikes. Interest rate futures price a roughly 43% chance of a Fed rate cut in March, down from 73% at the start of the year. A slowdown in Germany would foreshadow the same in Eurozone numbers due on Thursday and reinforce market expectations that European policymakers could start rate cuts earlier than the ECB has signalled. Expectations of interest rate cuts in China have driven a strong rally in the bond market this month while the yuan has been squeezed by flight from China's crumbling equity markets.

Persons: Jerome, Powell, Dane Cekov Organizations: Bank of Japan, Federal Reserve, Federal, U.S, French EU, ECB, Bank of Locations: U.S, Germany, China

Microsoft, Alphabet (Google), Meta, Amazon and Apple are all due to report this week. A few hours after the Treasury announces, the Fed will also conclude its two-day meeting, the first of 2024, and issue a statement on interest rates. “They are determined to avoid making the same mistake twice.”The week ends with Friday’s monthly jobs number for January. Rounding out the week will be a report on consumer sentiment from the University of Michigan. The final reading for January is expected to show consumers feeling happier about the state of the economy and inflation.

Persons: ”, Richard de Chazal, William Blair, Jerome Powell, “, Powell, Bill Adams, ” Adams Organizations: Microsoft, Federal Reserve, Conference Board, Consumers, Labor Department, Treasury, Reserve, Comerica Bank, Fed, University of Michigan

☆ What to expect when tech behemoth Apple reports quarterly earnings this week
▼ + stars: | 2024-01-29 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Investors shouldn't be surprised if Apple earnings aren't stellar, Jim said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, shouldn't, Jim, Abbott, Jim Cramer's, ABT Organizations: CNBC, Dow, Nasdaq, Big Tech, Club, Microsoft, Apple, Federal, Abbott, GLP Locations: MSFT

☆ Cramer: Earnings take center stage this week, but don't sleep on the Fed and Treasury
▼ + stars: | 2024-01-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

It's ironic: We are at a moment where supply of money and demand for goods are intersecting. We have two markets: the Treasury market and the equity market, with the first more powerful than the second, even if we can't tell that in the scrum of earnings announcements. If the Fed signals more rate cuts, then we will be set up for higher stock prices if the companies deliver good earnings. The possibility of higher earnings so far has been controlled by supply and demand and the disinflation it is breeding, which may continue this week. Hence the power of their earnings to generate the mask of a higher market price-to-earnings ratio.

Persons: We've, Josh Frost, —, disinflation, Tesla, Amy Hood, McCormick, Costco's Kirkland, Jerome Powell doesn't, Price, it's, Dupont —, Dupont, Josh Frost —, Jim Cramer's, Jim Cramer, Jim, Jerome Powell, Brendan Mcdermid Organizations: Treasury, Federal Reserve, Devices, Microsoft, Apple, Financial Markets, Nvidia, Google, Walmart, Starbucks, Fed, Caterpillar, Boeing, Jim Cramer's Charitable, CNBC, New York Stock Exchange

☆ A self-described real estate visionary was charged with running an Airbnb scam that made millions by tricking guests into booking non-existent properties
▼ + stars: | 2024-01-04 | by ( Hannah Getahun | Kelsey Vlamis | Lloyd Lee | ) www.businessinsider.com time to read: +5 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The complaint said Goel and associates would purposely double-book guests and then invent "fake last-minute excuses for cancelling overbooked guests or tricking them into switching to inferior replacements." Sometimes, they would encourage guests to stay at alternative properties they offered as a false upgrade and keep the money when guests complained, the indictment said. The indictment said that in some instances, Goel and others working with him listed properties for rent that didn't even exist.

Persons: Shray Goel, Goel, —, Shray Goel —, Alex, Brittany, Jess, Tyler, Goel's, Allie Conti, Airbnb, Vrbo Organizations: US, Prosecutors, Service, Business, FBI Locations: Florida, California, Florida , Illinois, Colorado, Texas, Vrbo

☆ Wolfe Research says investors are too optimistic and sees the S&P 500 dropping 8% in 2024
▼ + stars: | 2023-12-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

If this year's early Santa Claus rally is any indication, investors may be getting too optimistic about the prospects of a rate cut early next year, according to Wolfe Research. The Dow Jones Industrial Average and S & P 500 hit fresh year-to-date closing highs on Friday. .SPX YTD mountain S & P 500 YTD chart Investors have been sending stocks flying on the back of expectations that the Federal Reserve will adopt more dovish policy next year. Senyek's base line scenario for 2024 sees these factors bringing the S & P 500 to 4,250 by year-end 2024, implying about an 8% drop. His bull case takes the S & P 500 up to 4,995 for a 9% gain, while his bear case calls stocks to plunge 22% to 3,565.

Persons: Santa Claus, Chris Senyek, Senyek Organizations: Wolfe Research, Dow Jones Industrial, Federal Reserve, Traders, pharma Locations: Santa, U.S

☆ How Cramer makes sense of the 'great bottom' of 2023
▼ + stars: | 2023-12-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

We've seen a stock rally that can't seem to quit. Probably when the supply of stock comes to market through IPOs and we get a weak bond auction that causes the bond market to hiccup. So now, you just got my best lesson about the great bottom of 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. The New York Stock Exchange is seen during morning trading on December 01, 2023 in New York City.

Persons: It's, devolves, Jamie Dimon, Elon Musk, Josh Frost, –, we've, unawares, We've, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Federal, Fed, JPMorgan, Tesla, Club, Microsoft, Google, Apple, Labor Department, Jim Cramer's Charitable, CNBC, The New York Stock Exchange, Santiago, Getty Locations: IPOs, New York City

☆ Swedish property firms should cut debt, raise equity, Riksbank chief says
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

Commercial property companies ramped up borrowing when rates were low and some are now struggling to pay off or roll-over debt after eight interest rate hikes by the central bank. Thedeen said many companies in the commercial real estate sector needed to restructure their balance sheets. Even if rates have peaked, problems for the commercial real estate sector are not over. Short-dated debt and large refunding needs mean "the Swedish property sector has more risk" than in other European countries, Maria Gillholm, senior credit officer at Moody's, said. The commercial real estate sector triggered a financial crisis in Sweden in the early 1990s and authorities have said it is once again the biggest risk to financial stability.

Persons: Erik Thedeen, Jonas Ekstromer, Thedeen, It's, Riksbank, Moody's, Maria Gillholm, Simon Johnson, Terje Solsvik, Essi Lehto, Susan Fenton Organizations: TT, Agency, Rights, Moody's, Thomson Locations: Stockholm, Sweden, Swedish, Europe

A number of companies have recently demanded that antitrust enforcers pay default interest on fines in annulled antitrust cases. Deutsche Telekom challenged the fine at the Luxembourg-based General Court, Europe's second highest, which cut it to 19 million euros in 2018, forcing the EU competition enforcer to repay the difference. Deutsche Telekom returned to the court after the EU competition enforcer refused to pay interest for the period between the payment and the reimbursement and got judges to back its fight. The Commission then appealed to the Luxembourg-based EU Court of Justice (CJEU). The case is C‑221/22 P European Commission v Deutsche Telekom AG.

Persons: Fabian Bimmer, Deutsche, Anthony Michael Collins, refunding, Foo Yun Chee, Kirsten Donovan Organizations: Deutsche Telekom, ITS, REUTERS, Companies Deutsche Telekom AG, Intel, Deutsche, European Commission, EU, Court of Justice, Deutsche Telekom AG, Thomson Locations: Hamburg, Germany, Slovakia, Luxembourg

Federal rules require banks to reimburse customers for payments made without their authorization, such as by hackers, but not when customers themselves make the transfer. Following its launch in 2017, Zelle grew to become one of the largest U.S. peer-to-peer payments networks by total payments. A March 2022 New York Times report that scams were flourishing on Zelle caught the attention of lawmakers frequently critical of big banks, including Senator Elizabeth Warren. He said Zelle has seen "a step-change reduction" in fraud and scam rates this year but declined to provide details. Chance said EWS has been engaging with policymakers on the need for a "holistic approach" to combating scams, including advocating for more dedicated law enforcement resources.

Persons: Jamie Dimon, Jane Fraser, Brian Moynihan, Banks, Ben Chance, Zelle, Elizabeth Warren, Warren, Dimon, EWS, Chance, ”, Trace, Carla Sanchez, Adams, we're, Lindsey Johnson, Hannah Lang, Chris Prentice, Michelle Price, Rod Nickel Organizations: JPMorgan Chase, Citigroup, Bank of America, Banking, Housing, Urban Affairs, Capitol, Warning, Reuters, Federal, JPMorgan, New York Times, Federal Trade Commission, Consumer Financial Protection Bureau, PayPal, National Consumer Law, Consumer Bankers Association, Thomson Locations: Zelle, U.S, Warren, Washington, New York

☆ Powell made a big statement this week after bond yields slid. Here’s why
▼ + stars: | 2023-11-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

The swift rise in long-term US Treasury yields over the past few months caused headaches for investors by dragging many of their portfolios down. Bond yields, namely the yield on the 10-year Treasury note, dictate the interest rates on credit cards, mortgages and auto loans. Fed Chair Jerome Powell addressed that at this month’s post-meeting press conference, saying he couldn’t pinpoint exactly why yields rose so much in recent weeks. Hours before Powell’s post-meeting remarks, bond yields plunged following the Treasury Department’s quarterly refunding announcement. That’s as opposed to letting bond yields do the Fed’s work for it.

Persons: Jerome Powell, “, Powell, Kathleen O’Neill Paese, Louis Fed, ”, Powell’s, Wall, John Madziyire, Joe Kalish, Ned Davis, Kalish, ” Powell, Celal, That’s Organizations: New, New York CNN, Federal Reserve, Treasury, Fed, Vanguard, Ned, Ned Davis Research, CNN, ” Bank of America, International Monetary Fund, Getty, Bank of America Locations: New York, Washington ,, Anadolu

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 8 (Reuters) - If the notorious 'term premium' is evaporating again, then last month's bond rout may just have been a nightmare. "If that's coming from term premium and it's tightening, then we have got to take that into account." As Summers estimated this week, a term premium just back at 60-year averages would put it at 150bps - 130bps above current levels. Morgan Stanley estimates an additional near $1 trillion in gross debt sales from G7 governments are coming down the pike next year. Morgan Stanley chart on G7 debt sales in 2024Reuters GraphicsThe opinions expressed here are those of the author, a columnist for Reuters.

Persons: Dado Ruvic, Christopher Waller, Larry Summers, selloff, York Fed's, Jerome Powell, Austan Goolsbee, Lisa Cook, Summers, Morgan Stanley, Mike Dolan, Josie Kao Organizations: REUTERS, Federal Reserve, Treasury, Fed, ., The, NY, Reuters Graphics Reuters, Reuters, Chicago Fed, Congress, Thomson Locations: York, midyear, 150bps

The latest Commodity Futures Trading Commission (CFTC) figures show that speculators, especially leveraged funds, ramped up their short Treasuries positions in the week ending Oct. 31, most notably at the short end of the curve. That is significantly larger than the peak combined net short position from 2019 of just over 4 million contracts, boosted by fresh record short positions in the two- and five-year space. In October leveraged funds increased their net short position in two-year futures by 242,000 contracts to 1.6 million contracts, and by 193,000 contracts in five-year futures to 1.93 million. They only grew their net short position in 10-year futures by 10,000 contracts, however. But funds play Treasuries futures for other reasons, like relative value trades, and this year, the basis trade.

Persons: Brendan McDermid, Javier Corominas, Treasuries, Jerome Powell, Jamie McGeever, Miral Fahmy, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Rights, Futures Trading Commission, Regulators, Reuters, Oxford Economics, Treasury, Citi's, Thomson Locations: New York City, U.S, Rights ORLANDO , Florida, Citi's U.S

[1/2] Dollar, Euro and Pound banknotes are seen in this picture illustration taken April 28, 2017. The euro was last up 0.27% at $1.06515, and thanks to gains earlier in the week was heading for a weekly gain of 0.8%, which would be its most since July. Sterling likewise was up 0.2% on the day at $1.2228, and set for a 0.86% weekly gain, also its most since July. Both the Aussie and the New Zealand dollars are up 1.7% for the week, their best weekly performance since again mid-July. The dollar is heading for a weekly gain of 0.25% on the franc and was last at 0.9041 francs.

Persons: Dado Ruvic, Sterling, Jerome Powell, We've, BOE, Yusuke Miyairi, Detroit's, Kazuo Ueda, Ankur Banerjee, Rae Wee, Gerry Doyle, Kim Coghill, David Evans Organizations: REUTERS, Rights, U.S . Treasury Department, Federal, Fed, Treasury, Nomura, Analysts, United Auto Workers, UAW, Bank of England, Bank of Japan, Reuters, New, Swiss, Thomson Locations: Rights SINGAPORE, LONDON, U.S, New Zealand, Singapore

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