Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The bond bear market is finally upon us after more than 25 years, bond guru Bill Gross said Tuesday.
Thought to be triggered by the Bank of Japan's tapering of bond purchases, his claim is making waves in the investment community and coincides with central banks increasingly moving away from global bond markets.
The call was released in a tweet from the account of Janus Henderson Group, Gross's investment firm, saying: "Bond bear market confirmed today. 25 year long-term trendlines broken in 5 (year) and 10 (year) maturity Treasuries."
The benchmark 10-year U.S. Treasury yield rose to its highest level since March Tuesday, surpassing 2.55 percent as an incipient bond sell-off gathers pace. It was trading close to 2.5788 percent on Wednesday afternoon.
Gross's sentiment is not universally shared, however, with many investors warning it's too early to call an end to the near three-decade bull run for bonds. Others still suggest that climbing yields might actually help stocks.
Double Line Capital CEO Jeffrey Gundlach didn't join Gross's claim on the timing of the bear market, but signaled it's on the horizon, predicting on Twitter that a rise above 3.22 percent on the 30-year Treasury yield "would end the bond bull market for good."
The 30-year Treasury yield hovered around 2.9225 Wednesday afternoon, representing a steady upward climb from its historic low of 2.11 percent in July 2016, according to Trading Economics. Bond yields move inversely to prices.
The billionaire bond investor also said it would be a "big deal" if 10-year yields rise above 2.63 percent. Gundlach said the Federal Reserve's tightening would leave the S&P 500 in negative territory for 2018.
Bond yields have been falling for decades. To give you an idea, the average yield on a 10-year Treasury bond in 1981 was higher than 15%. The downward trend had continued reliably since then, which explains why many investors are alarmed at the prospect of a change in course.
Now, as bond supply rises across all major markets and the main buyers of bonds — central banks — pull back from quantitative easing and set in on rate hikes, investors like Gross and Gundlach are confidently calling an end to the bull run.
Still, others in the bond world don't see cause for concern. Legendary bond investor Bill Miller told CNBC on Tuesday that the rising yields will give a further boost to stocks, which have been hitting record highs for the past year.
"Those 10-year yields go through 2.6 percent and head towards 3 percent, I think we could have the kind of melt-up we had in 2013, where we had the market go up 30 percent," Miller told CNBC's "Closing Bell ". "If we can get the 10-year towards that 3 percent level, you'll see the same thing."