The world appears to be entering a higher-rate era. Here’s who will pay the price Global bond yields have surged to multiyear highs, triggering a wave of rising borrowing costs that is reshaping financial landscapes worldwide. Germany’s 10-year bond yield has reached its highest level since 2011, Japan’s yields remain above 3%, U.S. Treasury yields have climbed to their highest since November 2023, and UK gilt yields have hit a post-2008 peak. This surge reflects a confluence of factors, including elevated government debt issuance, a sharp rise in oil prices that has reignited inflation fears, and expectations that central banks will maintain tighter monetary policies for an extended period. Analysts warn that this shift may signal a prolonged era of higher interest rates, with far-reaching consequences for governments, corporations, consumers, and equity markets. The current bond-market volatility is not merely a temporary fluctuation but a structural shift that could reshape economic dynamics for years. Robin Brooks, a senior fellow at the Brookings Institution, described it as “the continuation of a medium-term trend that’ll keep going for many years.” Natalia Lojevsky, a managing director at CIFC Asset Management, echoed this sentiment, noting that further yield increases are likely as heavy debt issuance collides with renewed inflation risks. The implications are vast, affecting everything from sovereign finances to corporate investment strategies and household budgets. Governments are among the most vulnerable to this shift. Sovereign debt levels are already high in many regions, and refinancing maturing debt at higher rates will significantly increase interest costs, straining public finances.#japan #us_treasury #germany #brookings_institution #uk_gilt
Mailing Tax Returns Near April 15 Deadline Comes With Risk The U.S. Postal Service’s ongoing operational changes have introduced new risks for taxpayers planning to mail their 2025 tax returns before the April 15 deadline. A key factor in determining whether a return is considered on time by the IRS is the postmark date, which may no longer align with the day a taxpayer drops off their return. This shift has raised concerns among tax professionals and individuals who rely on the postal system for time-sensitive filings. The IRS considers any tax return postmarked on or before April 15 as filed on time, even if the agency receives it later. Historically, postmarks were applied the same day a return was mailed, but recent changes at the Postal Service have disrupted this process. According to a rule published in the Federal Register on December 24, delays between mailing and postmarking are expected to increase as the Postal Service modernizes its infrastructure and adjusts transportation schedules. The agency clarified that postmarks are still applied at processing facilities, but the timing of when mail is accepted and processed has become less predictable. Research from the Brookings Institution highlights the impact of these changes. Many post offices now send mail only once a day instead of twice, and about 52% of post offices are located more than 150 miles from their regional processing centers. This means some mail may not begin moving through the system until the next day, potentially delaying the postmark by up to a full day. In cases of weekends or holidays, delays could be even longer. Tax professionals warn that relying on the assumption that a return is postmarked the day it is mailed could lead to penalties.#irs #brookings_institution #us_postal_service #joshua_youngblood #tax_returns
Trump vota por correo aunque le ha pedido al Congreso limitar esa forma de votar El presidente Donald Trump emitió otra papeleta por correo en Florida durante una elección especial para escaños legislativos estatales, mientras continúa criticando públicamente el método de votación como una fuente de fraude y presiona al Congreso para que limite su uso. Los registros del condado de Palm Beach indican que su voto ya fue contabilizado, aunque la votación anticipada presencial se extendió hasta el domingo, cuando Trump aún estaba en su propiedad en el sur de Florida. La Casa Blanca declaró que la irritación de Trump está dirigida a los estados que implementan el voto universal por correo, no a casos individuales de votantes que necesiten hacerlo por correo. Una portavoz rechazó específicamente la idea de que su práctica contradiga su impulso por nuevas reglas federales en el tema. “La Ley SAVE America Act tiene excepciones de sentido común para que puedan votar por correo los que necesiten hacerlo por enfermedad, discapacidad, servicio militar o viaje, pero no se debe permitir el voto universal por correo porque es altamente susceptible al fraude”, afirmó Olivia Wales, portavoz de la Casa Blanca, en un comunicado. Un informe de la Brookings Institution publicado en 2025 reveló que los casos de fraude en el voto por correo representaron solo el 0,000043% del total de papeletas emitidas, es decir, aproximadamente cuatro casos por cada 10 millones de votos. Wales añadió: “El presidente es residente de Palm Beach y participa en las elecciones de Florida, pero vive principalmente en Washington, D.C. Esto no es noticia”.#donald_trump #florida #save_america_act #congreso #brookings_institution
