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Biden Heads to Michigan, Jamie Dimon's Warning, Sell-off in Bonds: 3 Things to Know

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President Joe Biden heads to Michigan to join striking UAW workers. He's not the only 2024 hopeful making the trip - Former President Donald Trump is expected to make an appearance Wednesday. Strikes continue at General Motors (GM), Ford (F) and Stellantis (STLA). Carnage in the bond market. The 10-year yield hit (TNX) its highest level since 2007 yesterday, lifting the dollar on its way up. The sell-off comes from investors spooked by the fed's 'higher for longer' message, who fear another interest rate hike is on the table before year's end. JP Morgan CEO Jamie Dimon (JPM) is warning that the u-s economy may not be prepared should the fed raise interest rates to 7 percent. The big bank leader told the Times of India, “going from zero to 2% was almost no increase. Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%.” For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

People Who Are Having Such An Awful Vacation, They Can't Help But Laugh. Might as well stay homeDavid McCallum, star of hit TV series 'The Man From U.N.C.L.E.' and 'NCIS,' dies at 90

LOS ANGELES — Actor David McCallum, who became a teen heartthrob in the hit series "The Man From U.N.C.L.E." in the 1960s and was the eccentric medical examiner in the popular "NCIS" 40 years later, has died. He was 90. McCallum died Monday of natural causes surrounded by family at New York Presbyterian Hospital, CBS said in a statement. “David was a gifted actor and author, and beloved by many around the world.

 

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Ford pausing construction of Michigan battery plant amid contract talks with auto workers unionDETROIT (AP) — Ford Motor Co. said Monday that it's pausing construction of a $3.5 billion electric vehicle battery plant in Michigan until it is confident it can run the factory competitively. The move comes as the company is in the midst of national contract talks with the United Auto Workers union, which wants to represent workers at battery factories and win them top wages. In February, Ford announced plans to build the plant in Marshall, Michigan, employing about 2,500 workers to make lower
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