Treasuries tumbled with gold and the dollar rallied, while U.S. equities retreated, as concern grew that the Federal Reserve will scale back its stimulus efforts if the labor market continues to improve.
Treasuries fell, pushing 10-year note yields above 2 percent for the first time since March, after Federal Reserve Chairman Ben S. Bernanke told Congress the Fed may cut the pace of bond purchases at the next few meetings if policy makers see indications of sustained economic growth.
A financial crisis is almost certainly in the cards for Japan, and it is just a question of timing. Unfortunately, the government may have fast forwarded that date.
Tim Cook’s tenure at the helm of Apple Inc. has been a crash course in crisis management. In almost two years since Cook became chief executive officer, Apple has lurched from one reputation-threatening public-relations predicament to the next.