This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, January 27, 2023 Today’s newsletter is by Alexandra Semenova, markets reporter at Yahoo Finance. Follow Alexandra on Twitter @alexandraandnyc. Read this and more market news on the go with the Yahoo Finance App. It’s been “risk on” for investors in the first few weeks of 2023. The Nasdaq has gained 9% after losing one third of its value… Source link
Read More »Summers Says ‘Bizarre’ for U.S. to Borrow So Much in Short-Term
(Bloomberg) — Former U.S. Treasury Secretary Lawrence Summers said the Federal Reserve’s massive bond-buying program is resulting in a “bizarre” situation in which the government’s funding structure is overly focused on the short-term. Under its quantitative easing program, the Fed purchases longer-term Treasuries and the money it creates to buy them ends up in the accounts that banks hold with the central bank, in the form of overnight reserves. These reserves earn a rate of interest… Source link
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