The Fed cut, but the T-note yield went up. Oops!
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 24 September 2024
⏱️ 28 minutes
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Summary
Last week’s interest rate cut was supposed lower borrowing costs across the economy. But there’s been a surprising coda: The interest rate on the 10-year T-note went up. So, while the Federal Reserve intended to provide an economic reprieve, some loans may have become just a little more expensive. Also in this episode: New York and Las Vegas lead in home price growth, cement needs to go green and soft skills strengthen job skills.
Transcript
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| 0:00.0 | Hi I'm Kai Rizdahl the host of How We Survive |
| 0:03.4 | It's a podcast from Marketplace. In 1986, before I was a journalist, I was flying for the Navy. |
| 0:09.6 | Mr. Gorbachev, tear down this wall. |
| 0:14.4 | It was the cold war and my first deployments were intercepting Russian bombers. |
| 0:18.6 | Today though, there's another threat out there, climate change. |
| 0:22.6 | This could be the warmest year on record. |
| 0:24.6 | Climate change is here. |
| 0:25.7 | Temperatures here are warming faster than anywhere on Earth. |
| 0:29.5 | And while the threat seems new, the Pentagon's been funding studies on climate change since the 1950s. |
| 0:35.9 | I think we will put our troops and our forces at higher risk if we don't recognize the impact of climate change. |
| 0:44.7 | This season, we go to the front lines of the climate crisis |
| 0:47.5 | to see how the military is preparing for the threat. |
| 0:51.0 | Listen to how we survive, wherever you get your podcasts. |
| 0:54.0 | I believe I warned you yesterday, we are going to do a Bond market story from American public media. |
| 1:05.8 | This is marketplace. In Los Angeles, I'm Kyle Rizdall Tuesday, today 24 September. Good as always to have you |
| 1:22.2 | along everybody. |
| 1:23.5 | We begin today with a little bit of a, wait, what, story about the bond market? |
| 1:29.9 | The Fed cut its target interest rate last week, as you know. |
| 1:33.6 | But since then, the yield on the 10-year Treasury note has actually gone up. |
| 1:38.5 | We talk about the 10-year most every day on this program because it is the benchmark for lots of other interest rates, |
| 1:44.9 | mortgages and car loans, corporate borrowing. |
| 1:47.8 | So when its yield goes up, it is not in fact getting cheaper to borrow money across the economy. |
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