Real rate to equity return correlation more negative: Wilson Bank of America says S&P rose 15% per year as rates were 3.5% Before it’s here, it’s on the Bloomberg Terminal LEARN MORE A pair of Wall Street’s most prominent US equity strategists are at odds about whether stocks can extend this year’s rally against the reality that interest rates will remain higher for longer. Morgan Stanley’s Michael Wilson, an unwavering equity bear, says the correlation between real rates and equity returns...

Wealth Cash is especially tight for top earners of millennial cohort Very few reported issues covering all their household expenses Not All Inflation Is Bad Before it’s here, it’s on the Bloomberg Terminal LEARN MORE This article is for subscribers only. More than a third of Americans earning at least $250,000 annually say they are living paycheck to paycheck, underscoring how inflation is taking a bigger bite out of Americans’ budgets at all ends of the pay spectrum. Some 36% of households...

(Bloomberg) -- An increase in US commercial banks’ borrowings suggests they’re uncomfortable losing any more reserves as depositors seek better returns elsewhere, according to Citigroup Inc. Most Read from Bloomberg Debris Spotted in Search for Missing US F-35 Fighter Jet Vegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the Making How Auto Executives Misread the UAW Ahead of Historic Strike India, Canada Trade Diplomatic Blows Over Murder Allegations Trillion-Dollar Industry...

Mallinckrodt agreed to hand lenders control of the pharmaceutical company through its second bankruptcy filing in three years while reducing by roughly $1 billion the settlement payments it had pledged for its alleged role in the opioid crisis.

A pair of polls suggest that student debt will be a key issue for millions of Americans this fall, when monthly bills resume and borrowers can’t lean on President Joe Biden’s forgiveness plan after the nation’s top court tossed it out. About half of borrowers said the situation has become a national crisis, according to a poll released by Bankrate on Thursday. A similar share said the federal government has not done enough to provide financial assistance for those with student debt. Millions...