The stock market


Another interest-rate increase is creeping its way through the economy. But this time it didn’t come from the Federal Reserve. Spooky season is upon us, and so is the phantom rate hike.

The recent surge in Treasury yields has unleashed an array of anxiety goblins, from fears of a stock market slump to worries about ballooning interest payments on government debt.

But policymakers also see rising yields as a way to slow the economy without having to go through the trouble of raising rates again.
 



“We took something people thought was uneconomical and turned it [into] probably the largest oil and gas basin in the world,” Sheffield, 71, told the Financial Times. “When you include all the natural gas and the natural gas liquids with the oil, it’s as big as Saudi Arabia.”
 
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