Bond Yields Climb, Schiff Warns of Housing and Bitcoin Crashes and More: This Weekend in Economics
Markets had plenty to digest over the week with higher bond yields, energy-shipping policy and housing affordability dominating the conversation, while Peter Schiff renewed his warnings on housing and Bitcoin. Here’s a quick recap of the major market stories that stood out over the week.Behind the Rising US Bond Yields: Traders Bet on Fed Hikes in December and January, a Blow to TrumpU.S. Treasury yields extended their advance after strong economic data increased expectations that the Federal Reserve could raise interest rates in December and January. The 10-year Treasury yield reached 5.16%, its highest level since Oct. 14 and well above November’s low of 4.81%. The prospect of tightening conflicts with President Donald Trump’s repeated calls for lower borrowing costs.Read the full article .Trump Extends Jones Act Waiver 90 DaysPresident Donald Trump approved a 90-day extension of a Jones Act waiver, allowing foreign-flagged vessels to transport oil and other commodities between U.S. ports. The move is intended to ease energy-shipping costs and is the longest waiver in the more-than-century-old law’s history. It gives energy shippers additional flexibility on routes normally restricted under the act.Read the full article .Peter Schiff Warns of Housing Crash: ‘Get Ready for the Mother of All Housing Crashes’Economist Peter Schiff said the U.S. housing market could face a severe downturn even though home prices remain close to record highs. Existing-home sales fell 5.5% month over month in October and 8.8% from a year earlier, with the seasonally adjusted annual rate dropping to 3.75 million, the weakest since August 2010, per the National Association of Realtors. Schiff contrasted current conditions with 2010, when prices had already fallen sharply.Read the full article .Bernie Sanders Slams America’s Housing Crisis as Median First-Time Homebuyer Age Climbs to 40: ‘We Should Invest in Affordable Housing’Sen. Bernie Sanders (I-Vt.) criticized worsening housing affordability, pointing to million-dollar starter homes in 242 U.S. cities. In a Saturday post on X, he said the median age of a first-time homebuyer has climbed to 40. Sanders also urged the government to put domestic housing needs ahead of overseas military spending.Read the full article .Peter Schiff Warns Bitcoin Crash Could Drag Strategy LowerPeter Schiff said Bitcoin could see its decline accelerate, warning that a break below $50,000 might send the cryptocurrency toward its 2022 low, below $16,500 if selling pressure intensifies. The warning also drew attention to Strategy , whose holdings and market performance remain closely tied to Bitcoin’s price. Schiff, a longtime Bitcoin critic, focused on the consequences of a deeper decline for companies with significant crypto exposure.Read the full article .This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Preview Photo courtesy: Shutterstock