Today's Scoop:

Hey friends - almost Friday. Look out for your Weekly Scoop tomorrow.

Here’s what you need to know today…

1. Layoff rates are very low.

2. Policymakers expect to keep borrowing expensive.

3. High prices and expensive mortgage rates have stalled the housing market.

S&P 500: 4,278.00
1Mo: -3% | 1Yr: +17% | 5Yr: +61%

The market sank lower again today as investors drove borrowing costs higher. The interest rate on the ten-year US Treasury bond nearly reached 5% for the first time in 16 years, raising borrowing costs for most other kinds of loans and debt.

Fewer Americans got laid off last week. The Labor Department reported that initial jobless claims fell to 198,000, the lowest level in nine months. Unemployment is historically low, and there are still more than 1.5 available jobs for every unemployed person. Policymakers have been restricting the economy to get the supply and demand of workers closer to balance.

Policymakers expect to keep borrowing expensive. In a speech today, Federal Reserve Chair Jerome Powell said he hasn’t seen enough evidence of the economy slowing to feel like inflation is under control. The Fed has been raising short-term interest rates to make borrowing more expensive, slow business activity, and reduce hiring. He said the recent market-driven rise in long-term interest rates is helping slow the economy further, reducing the need for more interest rate hikes. However, even if they don’t raise interest rates again, he doesn’t expect to make things easier or borrowing cheaper anytime soon.

High home prices and expensive mortgage rates have stalled the housing market. According to the National Association of Realtors, existing home sales declined 2% last month, reaching their lowest level in thirteen years. Mortgage rates are higher than they’ve been in +20 years, and a housing shortage has kept prices from falling much from record highs. First-time homebuyers have stepped back, making up a much smaller portion of the buyer pool than usual.

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• Pfizer doubles the price of its lifesaving drug for consumers

• General Mills expands its regenerative farming [🤓]

• Netflix subscribers surge after password sharing crackdown

• Tesla underwhelms investors as electric vehicle demand slows

• AT&T finally adds subscribers amid a competitive market

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Why are companies shifting to regenerative agriculture?

Regenerative agriculture is a way of farming that helps the environment, improves soil health, and supports ecosystems. It uses methods like no-till farming, cover crops, and rotating animals on the land to make farming more natural and self-sustaining, breaking away from industrial farming practices that limit fields to single crops and rely heavily on chemicals.

This type of farming has many benefits. It makes soil healthier and helps plants grow better, so farmers can use fewer chemicals. This saves money and can improve the nutritional value of the crops. Regenerative agriculture also helps fight climate change by capturing more carbon from the air and storing it in the soil naturally. It's great for wildlife, too, since it creates habitats for pollinators and other helpful creatures.

More companies are looking to regenerative agricultural practices to reduce their supply-chain emissions and increase the nutritional value of their products.

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Rising Rates & Job Uncertainty: Step one in personal finance is ensuring you have an emergency savings in cash. Whether you think it’s enough to stash 3-6 months of income or 3-6 months’ worth of expenses, you need to have it ready.

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