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An investor consensus that took months to build, namely that robust economic growth and elevated inflation would bring about substantially higher interest rates, has been coming apart, and the pain for those caught in that trade has heightened with moves in the past couple of days.
Plunge in Treasury yields reverberates around markets

A furious plunge in Treasury yields is reverberating through global financial markets, propelling shares of fast-growing tech companies to new records(...)

Warren Buffett’s Berkshire Hathaway placed a $5.7bn (€4.8bn) bet on four US pharmaceutical stocks in the third quarter. File photograph: Getty
Warren Buffett pulls back on banks and bets on drug makers

Warren Buffett’s Berkshire Hathaway placed a $5.7 billion (€4.8 billion) bet on four US pharmaceutical stocks in the third quarter, as the billionaire(...)

Pedestrians walk past a Bank of America branch in Chicago
BofA posts profit as cost cuts offset weak revenue

Bank of America reported a profit for the third quarter as chief executive Brian Moynihan’s cost-cutting efforts helped the bank offset the impact of (...)