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The yield on a 10-year Treasury reached 5% for 1st time since 2007. Why that matters_我的网站

一 |     由中央纪委国家监委宣传部与中央广播电视总台央视联合摄制的四集电视专题片《反腐为了人民》，1月5日晚播出第一集《惩治蝇贪蚁腐》。    NEW YORK -- The yield on the 10-year Treasury has reached 5% for the first time since 2007. That matters for everyone, not just Wall Street. Treasury yields have been climbing rapidly, with the 10-year yield rallying from less than 3.50% during the spring and from just 0.50% early in the pandemic. Monday morning, the yield on the 10-year Treasury was at 4.96% after hitting 5.02% earlier. The jump means the U.S. government must pay more to borrow money from investors to cover its spending.It also directly affects people around the world, because the 10-year Treasury yield is the centerpiece of the global financial system and helps set prices for all kinds of other loans and investments. Besides making it more expensive for U.S. homebuyers to buy a house with a mortgage, higher yields also put downward pressure on prices for everything from stocks to cryptocurrencies. Eventually, they could help cause companies to lay off more workers. Higher yields mark a sharp turnaround for a generation of consumers and investors who have known pretty much just low yields, as central banks kept benchmark interest rates pinned at nearly zero. Such low rates let people borrow money more easily, which helped economies to strengthen following the 2008 financial crisis, the European debt crisis and other maladies including, most recently, the COVID-19 pandemic. The low rates led to rising prices for houses, stocks and other investments, but they may also have encouraged too much risk-taking and spurred investment bubbles.Now, central banks are more concerned with getting high inflation under control. To do that, they raise interest rates and hope the higher costs to borrow will starve inflation of its fuel by bringing down spending. The Fed's main interest rate affects extremely short-term loans, those that banks charge overnight. The Fed has already pulled its federal funds rate to the highest level since 2001, and it's debating whether to hike it one more time. Either way, it's signaled plans to keep rates high for a while to successfully suffocate inflation. The 10-year Treasury yield has been catching up to the Fed's main interest rate after a string of reports has shown the U.S. economy remains remarkably resilient. While that calms worries about a possible recession caused by high rates, it could also keep upward pressure on inflation and shorter-term rates. Federal Reserve Chair Jerome Powell said Thursday that many other factors could be contributing to the swift rise in the 10-year Treasury yield. They include the U.S. government's big deficits, which require more federal borrowing, and the Fed's ongoing efforts to reduce its trove of bond investments built earlier to keep yields low. On the wonkier side, bond prices have also been falling in tandem with stock prices more often than they used to. That's unnerving for investors who usually see bonds as the safer part of their portfolios, and it could be pushing them to demand higher yields to own them.The rise in the 10-year Treasury yield most directly means the U.S. government has to pay more to borrow money for 10 years. But because the 10-year yield is the reference point for financial markets, it also quickly filters out into all kinds of loans. Even for companies with the best credit ratings, the interest rates they borrow at are set by adding some extra on top of whatever the U.S. government is paying for its Treasurys. Borrowers with worse credit ratings have to pay more extra than those seen as good bets to repay their debts.More expensive borrowing keep U.S. households from spending as much and companies from expanding as much, which should eventually hit overall U.S. economic activity. More immediately, because a 10-year Treasury is seen as one of the safest possible investments on the planet, its yield swiftly sways prices for all kinds of investments. When a super-safe Treasury is paying much more in interest, investors feel less need to pay high prices for a Big Tech stocks, cryptocurrency or other investment that carries more risk. It's a big reason the S&P 500 has seen its gain for the year so far tumble from 19.5% at the end of July to 10% as of Friday. Higher U.S. yields also attract more investments from abroad, which means investors are increasingly swapping their currencies for U.S. dollars. Since the end of July, the U.S. dollar has climbed roughly 4% against the euro, 5% against the British pound and 6% against the Australian dollar. While a stronger dollar helps U.S. tourists buy more stuff when they're abroad, it can also add financial pressure and heighten inflation for other countries, particularly in the developing world. Even for U.S. bond investors, the swift rise in bond yields has brought losses of their own. When new bonds are paying higher yields, it makes the older, lower-yielding bonds already sitting in investors' portfolios or mutual funds less attractive and knocks down their price.The largest U.S. bond mutual fund has lost roughly 3% so far in 2023 and is on track for a third straight yearly loss. That's never happened since its birth in 1987.。长期以来，学生饮食健康一直深受广大家长及社会关注，也备受党和国家的高度重视。校园食堂里学生的小餐盘，无疑是家长心中的大民生。每当校园餐领域曝出不正之风和腐败问题，都会让家长担心、揪心。纪检监察机关以实际行动回应群众所思所想所盼，将校园餐微腐败纳入集中整治重点。吉林省长春市汽车经济技术开发区第七小学的校园餐回扣腐败案就是集中整治查处的典型案例之一。集中整治工作中，有群众向吉林省长春市纪委监委反映，汽开区第七小学原后勤主任戚世国等人从学生餐费中捞取好处。长春市纪委监委立即开展初步核实，在摸清事实、固定证据的基础上，指定由公主岭市纪委监委对该案进行审查调查。调查发现，自2008年8月起，吉林省高尔夫餐饮管理公司为第七小学配餐。2010年8月，该公司为与第七小学保持长期合作关系，串通时任后勤主任戚世国等校内人员，通过给予回扣方式进行利益输送。2010年，第七小学执行的校园餐费标准是每人每餐交8元。高尔夫餐饮管理公司和负责此项工作的时任校长、后勤主任达成约定，每餐8元里给两人各一角钱回扣。2014年，校园餐费涨到了每人每餐12元，回扣也增加到了每人每餐三角钱。吉林省长春市汽开区第七小学原后勤主任 戚世国：非常后悔。

二 | 家长交的钱就应该全部用在给孩子保证食品质量、数量，全用到孩子吃饭上。作为一名教师来说，应该守住自己的职业道德标准，不应该去收一分一厘，再少也是老话说的不义之财。一餐几角钱回扣听起来似乎很少，但全校几百个学生每餐都扣，日积月累也不是个小数目。从2010年8月至2019年12月，在长达9年多的时间里，高尔夫餐饮管理公司负责人与戚世国等人捆绑形成利益链，将学生餐费揣进个人腰包。高尔夫餐饮管理公司从学生餐费里克扣了70余万元用于单位行贿，其中戚世国一人就收受23万余元。目前，戚世国等人及配餐公司已经受到严肃处理。如今，第七小学已经通过家长委员会投票，选出了新的配餐企业，每天的菜单都会发给家长，还借助科技手段，让家长可以通过明厨亮灶公示系统，实时监督配餐过程。现在，校园餐费还是12元，但饭菜的数量、品种更多了，质量更好了，让家长和学生直观地感受到了集中整治的成效。人民群众反对什么、痛恨什么，就要坚决防范和纠正什么。在整治校园餐管理问题方面，各级纪检监察机关查处贪占学生餐费、收受回扣等问题3.8万个，处分2.3万人。综合：央视新闻、正观新闻来源： 深圳新闻网。

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