(Bloomberg) -- Treasury yields surged as data showing strength in US business activity and a tight labor market sparked traders to push back the timing for Federal Reserve interest-rate cuts until the end of this year.Most Read from BloombergNvidia Stock Surges as Sales Forecast Delivers on AI HopesSpaceX Weighs Plan to Sell Shares at $200 Billion ValuationHarvard Students Walk Out of Commencement Protesting SuspensionsSingapore Air Changes Seatbelt Rules After Fatal TurbulenceSam Bankman-Fried
“It’s ambiguous to me today, at best, whether a higher [interest] rate helps bring down inflation versus actually contributes to it,” Rick Rieder told Fortune.
On May 20, 2024, Laurence Fink, Chairman and Chief Executive Officer of BlackRock Inc (NYSE:BLK), sold 30,978 shares of the company, according to a recent SEC Filing.