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(Bloomberg) — The ugliest year ever for US corporate-bond investors is expected to get uglier — and they only have the Federal Reserve to blame. Most Read from Bloomberg With the central bank raising interest rates at the fastest pace in decades, nearly three quarters of those who responded to the MLIV Pulse survey said that tighter monetary policy is the biggest risk facing the corporate-debt market. Just 27% were more concerned that corporate bankruptcies will pile up over the next six… Source link

Justin Lower was all set to not only make it into the FedExCup Playoffs on Sunday afternoon, but also secure his PGA Tour card for the second straight year. Yet on the 72nd green at the Wyndham Championship, Lower slipped. Lower, after reaching the par-4 18th green in regulation, three-putted from 61 feet for a bogey — which officially knocked him outside of the top 125 in the FedExCup standings and took his Tour card away. Lower’s face walking off the 18th green said it all. “I don’t… Source link

The 49ers and Jimmy Garoppolo still have a good working relationship. How far San Francisco is willing to go to help their former starting QB has its limits though. NFL Media’s Ian Rapoport on Sunday reported in a hit for NFL Network that with no clear trade partner developing, the 49ers are willing to keep Garoppolo on their roster all the way until August 30 when rosters are cut from 80 to 53. If they keep Garoppolo beyond that date his $24.1 million base salary becomes… Source link

(Bloomberg) — President Joe Biden and Senate Majority Leader Chuck Schumer are the biggest winners now that a huge piece of Democrats’ economic agenda is hurtling toward enactment. Most Read from Bloomberg The tax and energy bill passed Sunday after a year and half of rocky negotiations that divided the party. It gives Democrats tangible progress on key issues to show voters in the midterm elections this November. Biden’s popularity nose-dived a year ago in the wake of the haphazard… Source link

Pete Rose returned to the field in Philadelphia on Sunday, and he refused to address the sexual assault allegation made against him that prompted the Phillies to scrap plans to honor him five years ago. The 81-year-old also completely dismissed when she asked him about the message that his presence at the game made to women. “No, I’m not here to talk about that,” Rose replied to Coffey. “Sorry about that. It was 55 years ago, babe.” Rose spoke with Coffey again after the ceremony,… Source link

Vince Gill paid emotional tribute to his wife, singer Amy Grant, in a duet with their daughter, Corrina Grant Gill, as the gospel icon recovers from a bicycle accident. The two performed Gill’s 2019 single “When My Amy Prays” near the end of his show Thursday at Ryman Auditorium in Nashville. The lyrics were poignantly changed to “when my mama prays” as Corrina, 21, sang along during the third night of Gill’s four-night residency celebrating the venue’s 130th anniversary. A weepy Corrina… Source link

A series of inflation reports due out this week could propel or break the market’s summer momentum. Investors will get the latest gauge of how quickly prices are rising across the U.S. economy from three releases on tap in the coming days: PPI, CPI, and unit labor costs. The readings are expected to influence how Federal Reserve officials proceed with the rate hiking cycle and will be closely monitored after Friday’s monster employment report suggested more aggressive increases may be… Source link

A recession? Don’t tell that to the stock market. The major averages ended positive for the week. That came after the best month for the S&P 500 (^GSPC) since November 2020. Granted, the Nasdaq Composite (^IXIC) is still 20% down year-to-date, and the S&P 500 is 13% in the red. But the recent rally in the markets has some investors wondering if we’re watching a turning point, and if it’s safe to buy. In continuation of our series “What to do in a bear market,” Yahoo Finance asked the… Source link

Republicans successfully stripped a proposed $35 per month cap on out-of-pocket spending on insulin for patients enrolled in private insurance from the tax and climate bill. The Senate parliamentarian had ruled that the provision, sponsored by Georgia Democratic Senator Raphael Warnock, is not primarily related to the federal budget. That gave the GOP a chance to raise a procedural objection. Waiving the rules required 60 votes to succeed. Seven Republicans sided with Democrats to keep the… Source link

Cleveland Browns running back Kareem Hunt has requested a trade, according to reports by NFL Network’s James Palmer and the Cleveland Plain-Dealer’s Mary Kay Cabot on Sunday. The team has declined that request, Cabot reported. Hunt, who turned 27 on Saturday, has participated in individual drills at training camp, but reportedly skipped team drills for a second consecutive day on Saturday as he seeks a contract extension. He was previously a full participant. The Browns are fining the… Source link