Peloton is about to tack on a whole lot of {dollars} in charges to its Bike and treadmill, citing inflation

Peloton Interactive Inc.’s stationary bikes are on display at the company’s Madison Avenue showroom on Wednesday, December 18, 2019 in New York, USA.

jeenah moon | Bloomberg | Getty Images

peloton is on the verge of effectively charging customers more for its original Bike and Tread products, citing rising inflation and increased supply chain costs.

Beginning Jan. 31, the company will ask customers to pay an additional $250 for delivery and setup of their bike and an additional $350 for their Tread, according to a banner on its website. This will increase the cost of these products to $1,745 and $2,845 respectively.

Previously, Peloton said that the $250 and $350 shipping and assembly fees are included in the overall Bike and Tread price.

The price of Peloton’s newer $2,495 Bike+ product will not change, according to its website.

In the UK, Germany and Australia, Peloton has similar news on its website that costs will increase from January 31st.

During a recent company executive meeting, Dara Treseder, Peloton’s chief marketing and communications officer, said the changes were due to rising inflation and higher supply chain spending.

“Right now people are raising prices. Ikea just raised prices. We want to go in the middle,” Treseder said, according to a recording of the meeting available to CNBC.

She added that the company doesn’t want to be perceived as “switching and baiting” with customers.

A Peloton spokeswoman told CNBC in an emailed statement, “Like many other companies, Peloton is impacted by global economic and supply chain challenges that affect majority, if not all, companies worldwide.”

“Despite these increases, we believe we still offer the best value for money in connected fitness and provide consumers with various financing options that bring Peloton to a broad audience,” said the spokeswoman.

The $39.99 monthly subscription fee that connected fitness users pay for on-demand content remains the same.

In August Peloton had lower the price of the cheaper bike product by about 20% to $1,495 in hopes of appealing to more consumers with a cheaper option.

After seeing increased demand from consumers looking for at-home exercise equipment in 2020, Peloton’s momentum has faltered significantly over the past few months. The stock also took a hit. Shares fell about 76% in 2021 after soaring more than 440% the year before.

In November, Peloton lowered its full-year outlook due to ongoing supply chain constraints and slowing demand. Analysts have said they expect the company to have had a weaker holiday as well, which is a possibility prompt a further cut in its full-year forecast.

Last Thursday, Nasdaq said Peloton’s shares would be replaced by Old Dominion Cargo in the Nasdaq 100 Index, effective January 24.

The place’s The Cash? Hundreds of thousands of Illinois Rental Help {Dollars} Nonetheless Ready To Be Disbursed – NBC Chicago

It’s said to be a lifeline: more than $ 1 billion in federal rental and relief funds that Congress has earmarked for Americans hardest hit by the pandemic.

Illinois received a decent chunk of that funding: more than $ 800 million.

But NBC 5 Responds records show that much of the government’s funds are still in an account – not yet paid off – while the cloud of uncertainty about how long eviction moratoriums will last looms over fearful tenants.

Housing lawyers and civil servants are preparing for a potential flurry of housing problems.

In a recent US Census Household Pulse Survey, more than 109,000 Illinois residents responded that they were likely to face eviction, and just over 19,000 said the same thing about foreclosing their homes.

It is for this reason that the emergent CARES Act of Congressional Emergency Rent Assistance Program stands ready to save many from homelessness.

The problem, however, is the process of getting the money into the hands of those who need it most.

NBC 5 Responds examined the latest numbers for two Illinois government agencies that currently hold the bulk of the rental subsidy funds: the Illinois Housing Development Authority (IHDA) and the Department of Human Services (IDHS).

IHDA’s numbers show that it distributed about 46 percent of the $ 504 million it was supposed to deliver to renters and landlords. To date, the Office has received more than 96,000 requests for assistance through its online portal.

IDHS has taken a different approach to delivering the funds allocated to it.

The IDHS records show that through a network of community providers across the state, it has paid out approximately 11 percent of the $ 117 million to more than 4,000 applicants since April.

State officials and attorneys said many people in Illinois find themselves in a scenario they have never experienced before: facing the maze of procedures and trials in eviction courts as they seek both financial and legal assistance in order to to keep them afloat. NBC 5 replies.

Housing officials told NBC 5 that these findings highlighted the need for a recent extension of the state’s eviction moratorium (to learn more Click here). They stated that more time is needed to get rental assistance into the hands of those who need it most.

In a virtual interview, IDHS Secretary Grace Hou agreed to extend the state moratorium, stressing that the programs are working as quickly as possible while ensuring that funds are distributed responsibly.

“We have a very compassionate yet cautious science-based approach,” Hou said. “We don’t want our program to be questioned negatively in the further course.”

Hou said IHDA’s Rental Assistance Program is designed to take thousands of applications across the state virtually through an online portal and deliver funds directly to tenants and landlords.

But the IDHS plan is different.

“We know this one-size-fits-all isn’t for all renters and landlords looking for help,” said Hou.

The IDHS rent subsidy distribution plan, Hou explained, is a “personal floor game”; played by a team of grassroots, immigration and faith organizations who work with the agency to help communities who are most in need and who are afraid to turn to the government for help.

To view a list of IDHS rental assistance providers in your area, Click here.

“People may be familiar with the programs, but in some communities there may be a fear of actually accessing some of these programs,” Hou said, adding that some families need more than just rental assistance.

“We work with families who may have a number of other challenges,” said Hou. “The programs are designed to work hand in hand to address different households in different situations.”

The call for more rental assistance, delivered faster, isn’t unique to Illinois. This week, the Treasury Department confirmed that the bulk of the country’s earmarked funds – 89% – is still in the pipeline.

If state and local authorities do not distribute rental support funds by September 30, the Treasury Department has the right to redistribute these funds to areas of continuing need.

But a local silver lining: federal agencies said Illinois was one of the best-improved programs, with its spike from spending in May to more than $ 96 million the following month.

Hou said she understood the sense of urgency, but state officials also need to balance it with thoughtful and strategic and deliberate processes.

While the IHDA application portal is temporarily closed for renters or landlords seeking help with renting out, Hou said it will reopen in the coming weeks.

In the meantime, tenants and landlords can apply for assistance through the IDHS provider network.

For more information on rentals and legal resources, NBC has 5 Responds a complete guide here.

Native dance crew raises cash after being scammed out of hundreds of {dollars}

RICHMOND, Va. (WRIC) – A local Richmond dance team is busy raising funds for their upcoming competition after someone cheated on them of thousands of dollars.

The Dynamic Dance Academy, a group of 60 students, has been raising funds since March to compete in August in Birmingham, Alabama.

But the dance academy’s owner Bre Jones said those plans were temporarily suspended after someone stole $ 5,000 from his account.

“Eyes bloodshot red and in tears. I look through the emails and everything seems so real, ”said Jones.

She had received a call on Wednesday from a man posing as a representative for Bank of America.

He told her there was a pending transaction for $ 4,924 on Cell. He directed her to give him a verification code and confirm the last four digits of her account number in order to undo the transaction, Jones said.

The Richmond couple feels fooled for over $ 2,000 after never seeing keys to their rental apartment

“I checked the code and the money was gone in literally seconds,” she said.

As of Tuesday evening, there was only $ 0.32 in the account.

Jones received emails from a fake Bank of America domain and a transaction receipt from Chase, a bank she doesn’t have an account with. She immediately filed a lawsuit in person with Bank of America.

Jones says the ordeal affected the entire team.

“It affects you, and if you say goodbye, it affects you. So the most important thing was to make sure you were prepared,” she said. “They felt they were prepared for the competition and were only doing what we could to win back much, if not all, of it to get us through.”

In the past few days she has found several ways to get this money back.

“A car wash, we’re trying to put together a fry. So just all we can do to prepare them for the competition, ”said Jones.

Both Cell and Bank of America say that you should never reveal personal information like a verification code when receiving a call from a number that appears to be from your bank.

Instead, hang up and call your bank directly or visit a branch in person.

Let’s all please cease calling {dollars} ‘fiat cash’

Sometimes it is possible to oversimplify something. More than a decade ago, Ben Bernanke, then chairman of the Federal Reserve Board of Governors, sat down for an interview with 60 Minutes, the television show important Americans call when they have important things to say.

Bernanke explained how the Fed reacted to the financial crisis. When he got to the asset purchase programs, the host asked if the Fed would spend taxpayers’ money.

“It’s not tax money,” Bernanke said. “The banks have accounts with the Fed, much like you have an account with a commercial bank. To make loans to a bank, we just use the computer to mark the size of the account they have with the Fed. ”The host asked him if the Fed had printed any money. “Well,” said Bernanke, “effectively.”

He wasn’t wrong, of course. He is Ben Bernanke. You may disagree with his political choices, but he certainly knows how money is made.

However, this quote from 60 Minutes often appears more than a decade later. By simplifying what the Fed is doing, Bernanke confirmed for many people the deeply mistaken notion that the Fed can just conjure dollars out of nothing and then say via Fiat, “There. That is money. ”

There is a problem with the word “Fiat”. We use it to describe our current monetary system. Then we teach the students that the word for decree or edict comes from Italian. We tell them that fiat money is a social convention. It has value because the government says it is and everyone agrees. Cameron Winklevoss, Co-Founder of Gemini Crypto Exchange, says that “all money is a meme”. He was taught that at Harvard while he was doing the other thing he is famous to the.

Unfortunately, that’s not how money works at all. The first description I could find of money as “fiat” came from John Stuart Mill, the English philosopher, in Principles of Political Economy. Mill proposed a hypothesis: suppose a government began paying salaries in paper money that could not be converted into silver or gold when needed. The value of this money, he wrote, would “depend on the authority of the authority”.

Good yes. If the US Treasury Department printed up Mardi Gras tickets, spent them on the economy, and called them dollars, the value of those dollars would depend on the law of Congress. But that’s not what the Treasury Department does, and that’s not what a dollar is.

If you live in the United States, the dollars that you use the most in your daily life are bank dollars. Your bank creates them when they lend you money and then deposit them into your account.

Bank dollars have no value just because your bank says so. Your bank has regulators who rummage through their books to make sure these loans are solid assets with decent returns. And your bank pays premiums to the Federal Deposit Insurance Corporation to protect your deposits in case it fails. If bank dollars is just a social convention – a meme – then your mortgage is just a meme too.

Take the Fed now. It’s just a special bank. As Bernanke said, commercial banks have deposit accounts with the Fed. When the Fed lends them money, it adds dollars to their accounts, which we call reserves. And just like when the commercial banks lend you money, those reserves are a liability on the Fed. But there’s one crucial part of the process that didn’t get it done in 60 minutes: when the Fed tags those accounts, it is buying assets too. It swaps one for one: reserves for assets.

When we say the Fed is printing money, we are implying that there was nothing and now there is something. Ta there! But that doesn’t happen at all either. The Fed has to buy something. Usually it’s a treasury bill, but in an emergency it can be a more questionable asset. Then the Fed writes back the reserves. To believe that these reserves are just a meme, you have to believe that the assets are just a meme. But they are not. Don’t take my word for it. The Fed’s assets bring a return every year, in lean years and in rich years, without exception.

OK. Now we come to the Treasury. She also has an account with the Fed, but she can’t just pull dollars out of her account. The Treasury Department can deposit dollars into its account by collecting taxes or selling Treasury bills. There is no Fiat, no decree. There is no money printer anywhere. There are all transactions on a balance sheet, assets for liabilities.

Well, you might think that all of these mortgages and credit card loans are meaningless assets. You may believe that the US government will not be able to collect enough taxes to transfer these treasury bills. If you are right then yes, the dollar has no value. But we’re still not talking about trusting anyone. We are talking about credit analysis. So please: let’s stop calling it fiat money. Let’s call it what it is: loan money.

How A lot Pokémon {Dollars} Are Price In Actual Cash

It is necessary to spend money on Poké Balls and Potions to catch them all in Pokémon games, but Poké Dollars are based on real currency.

in the Pokémon sword and shield, Players can sell a Big Nugget at a Poké Mart for 20,000 – enough to fund 25 Ultra Balls in turn. Although it is clear from the context of the game that 20,000 yen is a lot of money, how much does it compare to the real US dollar? The answer is actually easier to determine than you might think, because Pokémon’s currency, the Pokémon Dollar, is based directly on the Japanese yen. In fact, in Japanese versions of the game, Pokémon dollars are Japanese yen. Many in Pokémon fandom use the word “yen” interchangeably with “Pokémon dollars” to refer to the game’s currency.

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Nintendo Switching Pokémon outside of Japan is nothing new. While there is a Japanese version of the word (ポ ケ ド ル or Poké dollar), the term “Pokémon dollar” is specific to English-language localizations of Pokémon. Its symbol – a P for “Pokémon” with two slashes below it – is reminiscent of the € for the euro or the Latinized ¥ symbol used for the yen in countries outside Japan (the Japanese use the kanji 円). The Pokémon dollar symbol is also easily confused with that of the Russian ruble (which is used in this article because of its similarity). Obviously, the English-speaking Pokémon team wanted the game’s currency to be realistic. But that reality is much clearer in Japanese versions of the games, where the English-language ₽ is simply the Japanese symbol for the yen (円).

Connected: The most surprising Pokémon when Pokémon UNITE was released

English appears to be the only localization of Pokémon that has developed a fictional term for the game’s money. According to Bulbapedia, Localizations in languages ​​such as French, Spanish, Mandarin, and Cantonese simply refer to the Pokémon dollar with the generic word for “money” (for example, “dinero” in Spanish). South Korea’s localization, like Japanese, uses the actual symbol for its local currency in Pokémon. In the sum that English Pokémon localization is unique in the lengths it takes to create a fictitious in-world currency.

How much is 100 Poké Dollars in USD?

Pikachu Eevee Pokemon money case

In some fan communities, both “Pokémon Dollar” and “Yen” are used to refer to the currency of Pokémon. This may seem confusing, but the two terms are really interchangeable in the game’s universe. The prices in Pokémon reflect what you would see in Japan, with items listed as multiples of 100. This is because 100 yen is roughly equivalent to $ 1 – more specifically, 100 円 is about 90 and 1000 円 is about $ 9.00.

This exchange rate is then directly related to the Pokémon Dollars in games like Sword and Shield. In this game, a Poké Ball costs 200, a Hyper Potion costs 1500, and a Resurrection costs 2000. In US dollars, their prices would be around $ 1.80, $ 13.50 and $ 18, respectively. It costs 10,000 to replenish and buy 50 Poké Balls, which is 円 10,000 or about $ 90. To make up for Poké Ball expenses, a Big Nugget costs 20,000 yen, which means it’s worth $ 180.

Since Poké Dollars are based directly on the Japanese Yen, it’s easy to tell how much a player is in. issues Pokémon Series. The conversion rate is around 100: 9, where ₽100 is 90 ¢. Whether it’s a blessing or a terrifying curse to know exactly what a poké mart shopping trip will bring in US dollars is up to the player. However, the Pokémon is dollar Value can fade to Pokémon cards.

Next: Why Pokémon Games Should Have Hard Mode

Source: Bulbapedia, wise

Mass Effect How to Keep Shepard's Fish Alive

Mass Effect: How to Keep Shepard’s Fish Alive

IRS sending billions of stimulus {dollars} and plus-up funds. This is find out how to observe your cash

Stimulus check payments aren’t over yet for everyone. 

Sarah Tew/CNET

Next month’s child tax credit rollout might be consuming a lot of the IRS’s bandwidth these days, but the tax agency is still focused on sending weekly batches of the third stimulus checks. So far during the month of June, the tax agency has sent more than $6 billion in stimulus payments, with half coming as direct deposit and the other half as paper checks. Some of that money includes “plus-up” adjustments for people who received less money than they were supposed to get in earlier checks. 

Even though many of us got our stimulus money in the earlier batches in spring, some have had to wait weeks or months for their checks. The IRS sent money first to people who’d already filed their 2019 or 2020 tax returns because those were the easiest to verify. So if you’re still waiting for your stimulus check up to $1,400 — or think you might be due a plus-up payment — we’ll tell you what to do next. 

In the meantime, many experts say a fourth stimulus check is unlikely, but millions of families will be getting a good chunk of money with July’s first child tax credit payment. We can tell you how to know if you qualify and how much money you could expect over the course of the year. The IRS is also issuing unemployment tax refunds to millions of people who received jobless benefits last year, though payments are taking longer than expected. This story was updated recently.

Stimulus and plus-up payments are still being issued

The amount of money you got in your stimulus checks depends on a multitude of factors, including how much money you made for the year (this is your adjusted gross income), how many eligible kids you had and so on. This is the kind of information the IRS largely gets from your tax return, or from other sources of information if you don’t typically file taxes.  Since the third stimulus checks began arriving in the middle of tax season, the end result is that some people’s payments were calculated based on information the IRS had from last year, not from this year.

That means the IRS might owe you more money even if you already got a stimulus check. Let’s say you had a new baby or made less money. As part of the IRS processing your tax return, if it determines that you’re actually owed more than you got, the agency may send a plus-up payment. So far, the IRS has sent billions in payments this way. Given an extended tax due date (May 17 instead of the usual April 15), delays in processing tax returns and a backlog from last year’s tax returns, the IRS will likely be sending out plus-up payments through December.

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Stimulus plus-up payments: What you need to know


How to track your stimulus check online

With the IRS Get My Payment tool, you can get a daily update on your payment status. The online app can also alert you with a message if there’s a problem with your payment that you may need to address. Another option is to create an online account with the IRS, if you haven’t already. 

If you are sent a plus-up payment after your 2020 tax return is processed, the amount of your third payment will no longer show up on the tool, according to the IRS. In that case you will only see the status of your plus-up payment. 

If you expect your payment to come in the mail, you can use a free tool from the US Postal Service to track your mailed stimulus payment.

Stimulus check delivery start and end dates

First direct deposits made March 17
First paper checks sent Week of March 15
First EIP cards sent Week of March 22
First Social Security, SSI, SSDI payment sent Weekend of April 3, most arriving April 7
First plus-up payments Weekend of April 3
VA benefits for veteran nonfilers Week of April 14
IRS deadline to finish sending checks Dec. 31, 2021 (mandated by the bill)
Last date to receive a check January 2022 (if mailed checks sent late December)
Final claims for missing stimulus money 2021 tax season likely (in 2022)

What might be holding up your stimulus payment

Here’s some information on possible delays with your stimulus check and other problems you might encounter.

Update on a fourth stimulus check

Millions have been clamoring for recurring stimulus payments, and some lawmakers have expressed support for more relief aid through the pandemic. But President Joe Biden hasn’t pledged support to a fourth check, focusing instead on his proposed family and jobs packages and the recent infrastructure deal

In a press conference on June 3, White House press secretary Jen Psaki played down the possibility of a fourth stimulus check, asserting that the administration has already put forward an economic recovery plan. Through the debate in Washington over additional economic impact payments continues, it’s looking increasingly unlikely that there will be any more direct payments this year. 

If your third stimulus amount is less than expected

The IRS isn’t particularly big on communicating how much money it calculates for your stimulus check. You won’t find that figure in the agency’s online tracking tool, but you will see it in the confirmation letter you’ll receive in the mail. (And here’s why you got the payment size you did.) 

So what happens if you use our stimulus check calculator and notice the numbers seem way off, or the IRS letter quotes an amount you didn’t receive? Start by triple-checking your qualifications to make sure you’re eligible for the total you expect. Remember the IRS is automatically sending plus-up payments after the agency receives your 2020 tax return. If you had a baby or otherwise added a dependent in 2020, you won’t need to file an amended tax form to claim the supplement.

The IRS could open up claims for missing stimulus money before its Dec. 31 deadline to stop sending checks. If not, you might have to wait a year to claim it — when you file your 2021 taxes in 2022 (even if you’re a nonfiler who isn’t typically required to file taxes).

What to do if you’re missing money from the first two stimulus checks

Plus-up payments are going out weekly along with the third round of checks, but they may not be the only money you’re due. For money missing from the first two checks, you need to claim that on your 2020 taxes. We suggest making sure you know where to find your adjusted gross income. You may be eligible to claim the 2020 Recovery Rebate Credit for claiming missing money from the first two checks.

Also, last week, the IRS launched a new online for non-tax filer families called the “Non-filer Sign-up Tool.” Its purpose is to help eligible families who don’t normally file a tax return enroll in the monthly child tax credit advance payment program, which is slated to begin July 15. However, the tool is also for those who did not file either a 2019 or 2020 tax return and did not use the previous non-filers tool last year to register for stimulus payments. 

In other words, individuals who experience homelessness or make little or no income can use this tool to enter their personal details for the IRS to receive the $1,400 stimulus checks or claim the recovery rebate credit for any amount of the first two rounds of payments that might have been missed. Tax nonfilers may need to be proactive about claiming a new dependent, too.

How to notify the IRS of an issue with your stimulus check

The IRS doesn’t want you to call if you encounter a problem with the delivery or amount of your stimulus check. So what to do instead? Our guide walks you through how to report stimulus check problems, including checks that never arrived (try filing a payment trace), direct deposit payments that went to the wrong account and other issues.

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Stimulus check 3: How much money you’ll get


Don’t throw away the IRS letter about your stimulus payment

Hold on to that IRS letter that confirms your stimulus payment, including the amount and how the IRS sent your money. That letter from the IRS — Notice 1444-C — is your proof that the IRS sent a payment in case you don’t actually receive it or if you received less than you qualify for and need to claim the missing amount later. Here’s more on what to do with that IRS letter.

How taxes play a role in your stimulus payment amount

Taxes were due May 17. So how will the IRS figure out how much it owes you? It will calculate your total (you can also do that here) based on the most recent tax filing it’s processed when tabulating the amount of your stimulus check.

If you know your tax return was already processed, the amount of your stimulus check will likely be based on your 2020 adjusted gross income, not on your 2019 AGI. That presents complications if the difference between the two years disqualifies you from getting a third stimulus check

On the flip side, if the IRS uses your 2019 taxes and you’re owed more money based on your 2020 AGI and dependents, you could get a plus-up payment. If you got more than you’re owed, you’ll only need to return it to the IRS in some cases. 

When the stimulus checks will stop being issued 

Most of the third stimulus check payments have gone out from the IRS and US Department of the Treasury, based on the information the IRS has on hand to determine payment amounts. The March stimulus law, however, gives these federal agencies until Dec. 31, 2021, to send out all the third checks. That gives the IRS room to process 2020 tax returns and square up payments for those who are owed plus-up amounts, folks who filed for a 2020 tax extension and other groups, like people who moved or don’t have a fixed address (such as people experiencing homelessness).


Millions could end up receiving a smaller stimulus check than they’re owed.

Sarah Tew/CNET

Other important information about stimulus checks

Stimulus checks aren’t necessarily a one-size-fits-all situation. Here are guides for:

No cash to assist stretch SNAP {dollars} at farmers markets in state price range – Albert Lea Tribune

By Tim Pugmire, Minnesota Public Radio News

Farmers’ markets are a staple summer in many Minnesota communities, but not everyone who shops there has the means to pay the farmers for what they grow.

A program called Market Bucks was designed to encourage some of these Minnesotans to use federal benefits – formerly called grocery stamps and now known as SNAP – to pay for healthy groceries at farmers’ markets. Participants will get a $ 10 game when they spend $ 10.

The program is particularly popular with seniors, said Colleen Moriarty, executive director of the nonprofit Hunger Solutions.

“It’s important because it helps people with limited access to food, the elderly and others, have more fresh fruits, vegetables, and Minnesota-grown products in their diets,” Moriarty said. “And that improves their health outcomes and improves access to food they might not otherwise have.”

The program doesn’t cost much compared to the total budget of $ 50 billion.

The DFL-controlled house put $ 325,000 in its draft agriculture budget for Market Bucks, but the Republican-controlled Senate had nothing. The position of the Senate prevailed in the negotiations. Senator Torrey Westrom, R-Elbow Lake, chairman of the Senate Agriculture Committee, presented the position to members of the finance committee.

“This program essentially enables the double-dip for everyone on SNAP,” Westrom said. “Overall, there are other priorities or areas that are also competing for funding.”

Senate minority leader Susan Kent, DFL-Woodbury, said she heard from farmers across the state who see Market Bucks as a valuable program. It should be a priority, said Kent.

“I don’t understand why it is twice that. I don’t understand, ”said Kent. “This feeds the people and makes feeding the people a priority. So I’m very disappointed. “

State Agriculture Commissioner Thom Petersen also expressed disappointment. Petersen told lawmakers that the state will lose federal funds if the program does not continue.

“We have to have this done by July 1st,” said Peterson. “So if a consideration can be given, or if we can find out, hundreds of thousands of dollars will be spent not only on those in need, but also on our farmers.”

Senator Mary Kiffmeyer, R-Big Lake, chair of the state government committee, noted that funding of the program was previously a responsibility of her committee. Negotiations on the state government bill are ongoing, and Kiffmeyer suggested that Market Bucks could be added to the bill.

“That’s currently $ 325,000,” said Kiffmeyer. “But we’ll see what we can do.”

Top legislatures want to conclude the special session in about a week. Hunger Solutions officials are now also looking for alternative financing. They are also circulating a letter signed by farmers’ markets, farming companies and other organizations calling on lawmakers to explore all options.

“It helps farmers,” said Colleen Moriarty. “And it supports the money that is being spent in the local communities.”

Treasury Yields Face Curbs From Fistful of Cash-Market {Dollars}

(Bloomberg) – The flood of dollars helping to bring some US money market rates below zero could fuel the international appetite for longer-term government bonds and help contain rising bond yields at the longer end of the curve.

The abundance of greenbacks in the financial markets, fueled by a combination of Federal Reserve monetary policy and the prospect of government spending equal to the $ 1.9 trillion stimulus package, did not help reduce the cost of any US dollar-based investors by reducing currency hedging on their holdings of government bonds. This, combined with now higher nominal returns in America, means that it seems more attractive for these investors to get in and buy.

“The secured return has not been so attractive in euros and yen for years,” said Chris Iggo, chief investment officer at AXA Investment Managers.

For managers of euro and yen portfolios who buy assets denominated in US dollars and hedge the currency risk on a three-month basis, the shift in the so-called cross-currency basis swaps since last year, together with the direct increase in nominal returns, means the The yield on 10-year US benchmark debt is now at its highest level since 2017 and well above what it can achieve in its home markets. This could lead to foreigners jumping in to buy after last week’s sell-off on bonds that are generating 10-year returns above 1.6%. However, whether this can stop the drive for ever higher government bond yields remains to be seen.

“The recent surge in US yields and the development of the currency base have made US Treasuries more attractive to international investors,” said Mohit Kumar, strategist at Jefferies International.

Euro-based investors who buy 10-year government bonds can collect 113 basis points versus 10-year German government bonds. Meanwhile, yen-based investors, who typically measure the 10-year government bond versus 30-year Japanese government bonds, will receive a 47 basis point increase in yield on that trade, according to Kumar, a former trader.

The story goes on

The three-month cross-currency base swaps for the yen and euro have fallen from their highs this year, but are still well below their December lows. The Fed’s efforts to increase the dollar’s liquidity and the US Treasury Department’s cuts have resulted in an abundance of dollars in the money market system. The dollar glut keeps overnight rates close to zero, and from time to time slightly negative interest rates appear on loans backed by Treasury bills.

The three-month cross-currency yen base swap stood at minus 11.25 basis points on Tuesday. A Japanese investor looking to hedge their Treasury exposure would borrow in yen, pay the three-month Japanese Libor (currently minus 0.087%), and convert the yen to US dollars to buy US Treasuries. The Treasuries can be sold via reverse repo and the proceeds can be converted back into yen via the cross-currency base swap.

It is speculated that Japanese investors will become more involved in trading after the fiscal year begins in April.

Curve softening

US yields rose sharply last week, with the 10- and 30-year tenors hitting their highest levels in more than a year, pricing in an economic recovery as the US virus infection rate eased with the introduction of the vaccine. The 10-year return rose to 1.609% while the 30-year return hit 2.394%. The market has since stabilized and the 10-year situation eased back to around 1.42% on Tuesday.

“I would be surprised if 10-year yields were to rise above 1.5%, let alone over 2%,” said Nikolaos Panigirtzoglou, strategist at JPMorgan Chase & Co. Yen and euro-based investors flow into government bonds “, Provided that interest rate volatility subsides.

“It is not possible here to sustainably decouple the steepness of the curve in the USA from other regions,” said Panigirtzoglou. “If the US curve continues to steepen, investors outside of the US will ultimately take advantage of the return advantage.”

Core returns in the eurozone and Japan have failed to break out of the lows seen in recent years. Japan’s 10-year return is still below 0.20% while the German 0.35% is negative.

“As the Bank of Japan remains committed to controlling the yield curves and the European economic outlook does not warrant higher returns, foreign investors are very likely to take advantage of this opportunity,” said AXA’s Iggo.

(Updated levels in the eighth paragraph)

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Capitol – Your Illinois Information Radar » Kelly needs to know why 1,000,000 {dollars} in DPI’s federal laborious cash was transformed into gentle cash

* Letter to the members of the DPI Central Committee …

February 25, 2021

Members of the committee:

In my conversations with all of you, I have emphasized transparency, inclusiveness and accountability. These are our common values, and so the first thing I would ask for is a full financial audit of the Illinois Democratic Party. Our statutes stipulate that the chairman “can request an annual audit of the Central Committee’s funds by an auditor and provide the members of the Central Committee with complete annual accounts with income and expenses”. Rules of the Central Committee of the Democratic State, Art. VI.22 (“Annual Accounts”). I’ll make sure we do that – and more.

In that regard, I just noticed that our Illinois Democratic Party (DPI) transferred $ 2,000,000 from our federal and non-federal accounts ($ 1,000,000 each) to the Democratic Majority on February 19, 2021. On February 22, 2021, the Democratic majority returned $ 2,000,000 to DPI.

Upon initial review, it appears that $ 1,000,000 from the DPI federal account – “hard” money collected under stricter, lower contribution amounts – has now been converted into “soft” non-federal dollars after being transferred back from The Majority.

If so, it raises serious questions about why DPI would have turned more difficult to obtain funds into government funds. Whatever the answer, I promise you, if I am lucky enough to be elected chairman, I will keep members of the state central committee informed of the party’s financial decisions – especially decisions of this magnitude.

Please do not hesitate to contact me on this or any other topic. I want the Illinois Democratic Party to be inclusive, transparent, and a place where we share ideas and information.

With best regards,
Rep. Robin Kelly (IL-2)
& State Central Committeewoman

There were some strange broadcasts that took place before Speaker Welch took over the democratic majority. I asked for an explanation.