30-Year Mortgage Rates Cross 7% as 10-Year Treasury Hits 5%
30-year fixed mortgage rates jumped back above 7% as the 10-year Treasury touched 5% and MBS spreads widened. Here is what is driving borrowing costs.
capital markets
Wendy’s Operator Meritage Files Chapter 11 on $175M Debt
Meritage Hospitality Group filed Chapter 11 bankruptcy after defaulting on $150M bank debt and $24.9M in Wendy’s royalties amid declining traffic.
10-Year Treasury Yield Tops 5%: Inside BofA’s Bond Call
As the 10-year Treasury yield clears 5.00%, Bank of America calls the century-worst bond slump a generational entry point for patient capital.
Bank of England Holds at 3.75%: Gilts Slide on 6-3 Split
The Bank of England held rates at 3.75% in a 6-3 vote, defying the Fed’s rate hike. Benchmark 10-year and 30-year gilt yields tumbled as markets weighed inflation.
S&P Global Buys OpenZeppelin to Rate Onchain Risk
S&P Global agreed to acquire OpenZeppelin to integrate smart contract audits and onchain risk metrics into institutional credit rating frameworks.
CoreWeave Launches $3B Convertible Debt Sale for AI Buildout
CoreWeave announced a $3B Rule 144A convertible senior notes offering due 2033 with capped calls to lower financing costs and fund AI infrastructure capex.
The Prime Rate Explained: How It Is Set and What It Moves
Learn what the prime rate is, how banks set it 300 basis points above the Fed funds rate, and how it directly affects credit cards, HELOCs, and loans.
May Mobility Inks $1.4B SPAC Deal: Inside the 12% PIPE
May Mobility agrees to go public at a $1.4B valuation via ACP Holdings SPAC, backed by a $120M 12% preferred PIPE structured for high-rate public markets.
Fed Hikes Rates to 4.00%: Bond Yields and Dot Plot Reaction
The Federal Reserve raised its policy rate 25 bps to 3.75%-4.00% in a 12-0 vote, lifting 2026 dot plot forecasts to 4.1% as Treasury yields hover near 5%.
American Savings Bank Prices $129M NYSE IPO at $16
American Savings Bank priced its upsized NYSE IPO at $16 per share, raising $128.9M in a rare 100% secondary bank listing under ticker ASBH.