How Personal Savings Affect the Economy

The 19th century author Balzac wrote that “our worst misfortunes never happen, and most miseries lie in anticipation.”

An important yet counterintuitive issue for investors is that long-term interest rates have risen in recent weeks despite the Fed’s latest cuts. The 10-year U.S. Treasury yield, for instance, has jumped from a low of 3.62% to as high as 4.38%.