SUCCESS

Exchanges are racing toward blockchain-based equities and 24/7 trading. Institutions, however, fear liquidity and funding risks.

The Toronto Blue Jays veteran is suddenly facing a big role in the tournament after a Los Angeles Dodgers superstar bowed out.

The stock market may be just one bad day away from forcing Washington and Wall Street to act. That is the message Bank of America chief investment strategist Michael Hartnett sent to clients on Friday, and investors listened.In his weekly Flow Show note to subscribers, Hartnett warned that a drop in the S&P 500 below 6,600, only about 1% below Thursday’s close, would be enough to trigger what he called a “war/oil/Fed/tariff policy response to short-circuit Main St risks.” In plain terms, policymakers would likely be forced to step in.The S&P 500 has shed about 2.8% so far in 2026 and is roughly 5% off its peak. But the combination of soaring oil prices and a deepening Iran conflict has the market sitting on a knife-edge.What BoA investment strategist Hartnett is actually watchingHartnett identified four specific market levels that, if breached, would force some kind of intervention. Think of them as “trip wires.”The four market thresholds to watchS&P 500 below 6,600: A drop here would signal broad market stress and likely prompt a White House or Fed response.Oil above $100 per barrel: Brent crude was already trading just over $100 on Friday, March 13, Investing.com reported. Hartnett recommends fading oil at this level.Dollar index above 100: The DXY traded around 100.3 Friday, its highest since November, squeezing global liquidity.30-year Treasury yield above 5%: The long bond was yielding 4.9% Friday. Hartnett recommends buying Treasuries if yields breach that level.Three of those four trip wires are already at or within inches of their thresholds. The only one not yet triggered is the S&P 500 itself.What a government policy response to flagging markets could actually look likeHartnett outlined what intervention might look like if markets continue to deteriorate. The options are not abstract. Each one has a clear mechanism and a clear beneficiary.Potential policy interventions to lift marketsTariff relief: The White House rolling back or pausing some of its trade levies would immediately ease inflation pressure and lift risk assets.Iran war de-escalation: A ceasefire or diplomatic breakthrough would send oil prices sharply lower and restore confidence in global supply chains.Fed rate cuts or bond purchases: The Fed slashing rates or restarting asset purchases would inject liquidity and provide a direct floor under markets. Hartnett noted that June rate cut odds have already collapsed from 100% probability to just 25% as oil tightens financial conditions.

The combination of soaring oil prices and a deepening Iran conflict has the market wobbling.Gray/Bloomberg via Getty Images

Which assets are overbought and which are oversoldOne of the more useful parts of Hartnett’s note is his breakdown of where the crowding is, and where the value might lie once the dust settles.On the overbought side, he flagged gold, semiconductors, metals, European stocks, and bank stocks as assets that have already moved too far too fast and are now selling off. These are the areas where investors piled in as a hedge against instability, and the trade has become crowded.More Tech Stocks:Morgan Stanley sets jaw-dropping Micron price target after eventNvidia’s China chip problem isn’t what most investors thinkQuantum Computing makes $110 million move nobody saw comingOn the oversold side, Hartnett pointed to software, bank loans, and bitcoin as sectors that have already absorbed most of their damage. His view is that these areas could stabilize quickly once policymakers respond.The Magnificent 7 tech stocks and private credit, however, have not yet troughed in his view. That is a notable caveat for investors still holding concentrated positions in megacap tech.The 2008 shadow hanging over marketsHartnett did not stop at the near-term setup. In a separate observation, he drew a striking parallel to the period just before the 2008 financial crisis. He wrote that asset performance in 2026 is “more ominously close” to the price action seen between mid-2007 and mid-2008, a period when oil doubled from $70 to $140 a barrel while subprime tremors were quietly building beneath the surface.The Iran war that began Feb. 28 has already pushed oil prices more than 60% higher this year. Hartnett believes the bigger risk to stocks from rising oil is not inflation itself, but the earnings damage that follows when energy costs bite into corporate margins.His bottom line: Corrections driven by exogenous shocks during periods of excess bullishness end when oversold assets find a floor. That process may already be starting. But if policymakers do not respond in time, Hartnett cautioned, the policy panic levels he outlined may not hold.Related: Bank of America drops blunt message on the economy

Global tensions are increasingly becoming a concern for retailers. Even before the recent Iran conflict erupted, tensions overseas have been fueling economic uncertainty here in the U.S. And no retailer is really immune.The problem is that when geopolitical disputes occur, they can escalate into trade wars, leading to tariffs and supply chain disruptions. This inevitably makes goods more expensive for retailers, who then have to pass the cost along to consumers.That’s something Costco has always gone out of its way to avoid.Roughly one year ago, during Costco’s second quarter 2025 earnings call, CEO Ron Vachris said, “It is difficult to predict the impact of tariffs, but our team remains agile and our goal will be to minimize the impact of related cost increases to our members.”Vachris also confirmed that about one-third of U.S. products sold are imported from other countries, and so the company would “continue to rise to this challenge by leveraging our global buying power, strong supplier relationships and innovation.”Middle East tensions could raise costsThe current conflict in the Middle East is already driving oil prices up. And the fear is that the cost of consumer goods will increase broadly due to a rise in energy, transportation, and production costs.Costco admitted during its most recent earnings call that the situation in the Middle East could eventually affect operating costs if disruptions intensify.Related: Costco cuts prices on eggs, butter, other staplesCFO Gary Millerchip said, “The situation in the Middle East could impact fuel costs and shipping schedules if there is instability in the region for a sustained period of time.”So far, however, Costco says the conflict has not significantly disrupted its supply chain. Costco is also well positioned to avoid such disruptions due to the strength of its Kirkland  brand. Plus, the company said it’s willing to source more products domestically as needed to keep prices as low as possible.As Vachris said during the company’s second quarter 2026 earnings call, “At Costco, we always want to be the first to lower prices and the last to raise them.”

Shutterstock

Costco has a big advantage over its rivalsCostco is sometimes criticized for having a limited selection of goods. But in a situation like this, that strategy can actually work to Costco’s advantage.Costco typically limits its inventory to about 4,000 SKU (stock keeping units), whereas a typical supermarket might carry anywhere from 15,000 to 60,000. But this streamlined approach gives the company flexibility to adjust suppliers or product mix when costs change.Another advantage is Costco’s scale. As the company confirmed on its most recent earnings call, it operates 924 warehouse club stores on a global level and has plans to keep expanding. That gives Costco a huge amount of buying and negotiating power. Plus, unlike traditional retailers, Costco can use the membership fee revenue it collects as a cushion, allowing it to avoid massive price hikes when other companies might have to implement them.More Retail:Costco sees major shift in member behaviorRetail chain shuts all locations as legal changes hit industryCostco makes major investment in online shopping for membersLululemon struggles to reverse concerning customer behaviorT-Mobile launches free offer for customers after major lossEven though the situation overseas is volatile, Costco is in a strong position to protect its members from rising costs. And it’s that very ability that could allow Costco to come out a winner at a time when other retailers risk losing customers.Maurie Backman owns shares of Costco.Related: Dollar Tree CEO signals tough times ahead for bargain hunters

If you are retired or approaching retirement, you have probably parked a chunk of your savings in a high-yield savings account and felt pretty good about it. After all, earning around 4% APY on money you can pull out at any time sounds like a solid deal.But there is another option sitting right next to it on the shelf that most retirees never hear about. It pays a higher guaranteed rate, grows tax-deferred, and does not require you to watch the stock market. The catch is that it asks you to leave your money alone for a few years.The product is called a Multi-Year Guaranteed Annuity, or MYGA, and for retirees who have savings they will not need for three to seven years, the numbers right now are hard to ignore.MYGA rates are outpacing high-yield savings accounts right nowThe rate gap between MYGAs and high-yield savings accounts has widened considerably. As of March 2026, top A-rated MYGA providers are offering guaranteed rates between 5.00% and 5.75% on three- to seven-year terms, according to data from Annuity Expert Advice. The best five-year MYGA rate from a rated carrier sits at 6.30%.Compare that to the high-yield savings account landscape. According to NerdWallet’s March 2026 survey, the top HYSAs are paying around 4.00% to 4.21% APY, while the FDIC’s national average savings rate remains just 0.39%.That is a difference of roughly 1 to 2 full percentage points between the best MYGA and the best HYSA. On a $100,000 deposit over five years, even a 1.5-percentage-point difference translates to thousands of dollars in additional earnings before you even factor in the tax advantage.How a MYGA actually works and who should consider oneA MYGA is a fixed annuity issued by an insurance company. You deposit a lump sum, choose a term length, and the insurer locks in a guaranteed interest rate for the full duration. Your principal is protected, there is no stock market exposure, and your money compounds at the same rate every year.Related: Retirement Savings Solutions to Weather Stormy MarketsTerms typically range from three to ten years. Most carriers require a minimum deposit between $5,000 and $25,000, though the most competitive rates tend to kick in at $100,000 or more, according to My Annuity Store’s 2026 guide.Key features that separate MYGAs from savings accountsYour rate is fixed for the full term. It does not fluctuate with Fed decisions or bank policy changes.Interest grows tax-deferred. You owe no income tax on earnings until you make a withdrawal.Most contracts allow a 10% penalty-free withdrawal each year if you need limited access to funds.MYGAs are not FDIC insured. They are backed by the issuing insurance company’s claims-paying ability and your state’s guaranty association, which typically covers $100,000 to $500,000.If you withdraw more than the free amount before the term ends, you will face surrender charges that can run as high as 10% of the withdrawal.The ideal MYGA buyer is someone in or near retirement who has a portion of their savings earmarked for a specific future need, such as covering living expenses starting in five years, funding a future home purchase, or simply growing a stable reserve outside the stock market.The tax-deferred advantage retirees often overlookThis is where MYGAs pull further ahead for retirees, and it is a detail that does not show up in a simple rate comparison. With a high-yield savings account, you owe federal income tax on every dollar of interest earned each year, even if you do not withdraw a cent. If you are in the 22% or 24% federal tax bracket, that reduces your effective return immediately.With a MYGA, your earnings compound tax-deferred for the entire term. You do not owe taxes until you take money out. On a $200,000 deposit over five years, My Annuity Store estimates this difference can add $8,000 to $15,000 to your net return compared to a CD or savings account, depending on your tax bracket.A simple comparison on $100,000 over five yearsHYSA at 4.00% APY (taxed annually at 22%): Roughly $116,500 after taxesMYGA at 5.50% (tax-deferred, taxed at withdrawal): Roughly $128,200 before tax on gains, with the flexibility to manage when you realize that incomeThe ability to control when you pay taxes is especially valuable in retirement. You can time withdrawals to fall in lower-income years or spread them across multiple tax years to stay in a lower bracket.Where high-yield savings accounts still winMYGAs are not the right tool for every dollar you have. If you need your money within the next year or two, a high-yield savings account remains the better choice. You get full liquidity, FDIC insurance up to $250,000 per depositor per institution, and no penalties for pulling funds out at any time.Situations where an HYSA makes more senseYour emergency fund. This money needs to be accessible immediately without penalties or waiting periods.Short-term savings goals. If you are saving for a purchase or expense within the next 6 to 18 months, locking your money into a multi-year contract does not make sense.Funds you may need unexpectedly. Medical bills, home repairs, or family emergencies require liquidity that a MYGA cannot provide without a cost.The Federal Reserve held rates steady at its January 2026 meeting, keeping the federal funds rate between 3.50% and 3.75%. HYSA rates have been trending lower since late 2024. That makes the case for locking in a MYGA rate now even stronger for money you will not need soon.The risks and trade-offs you need to understand before buying a MYGAMYGAs are among the simplest annuity products available, but they are not risk-free. Before you commit, you need to understand what you are giving up:Surrender charges can be steepIf you withdraw more than the annual penalty-free amount before your term ends, the insurer will charge a surrender fee. These fees typically start at 7% to 10% in the first year and decline gradually. If you have any doubt about needing the money early, a MYGA is not the right vehicle for that portion of your savings.MYGAs are not FDIC insuredYour deposit is backed by the insurance company’s financial strength, not the federal government. That is why financial professionals strongly recommend choosing carriers rated A- or better by AM Best.Your state’s guaranty association provides an additional safety net, typically covering between $100,000 and $500,000 depending on where you live.Early withdrawal before age 59½ triggers a tax penaltyIf you withdraw earnings from a MYGA before reaching 59½, the IRS imposes a 10% early withdrawal penalty on top of regular income taxes, according to IRS guidelines on annuity distributions. This makes MYGAs a better fit for people who are at or near traditional retirement age.You could miss out on rising ratesOnce you lock in a MYGA rate, you are committed for the full term. If rates rise significantly during that period, your money is stuck earning the lower guaranteed rate. One way to manage this risk is through laddering, which means splitting your deposit across MYGAs with different maturity dates so a portion comes due every year or two.How to decide which option fits your retirement planThe answer is not MYGA or HYSA. For most retirees, the answer is both. The practical approach is to think about your savings in buckets.A framework for splitting your savingsBucket 1: Immediate access (HYSA). Keep six to twelve months of living expenses in a high-yield savings account for emergencies and near-term spending.Bucket 2: Medium-term growth (MYGA). Savings you will not need for three to seven years can earn a higher guaranteed rate in a MYGA while growing tax-deferred.Bucket 3: Long-term growth (investments). Money with a horizon of seven-plus years belongs in a diversified investment portfolio for growth potential that outpaces inflation over time.More Employment:Apple CEO Tim Cook drops strong immigration messageLayoffs in January reach recession-era levelsAmazon delivers Seattle purge ahead of earningsThis is not a one-size-fits-all formula. Your specific allocation depends on your monthly expenses, other income sources like Social Security and pensions, your health, and your risk tolerance. If you are unsure about how to split things up, a fee-only financial advisor who does not earn commissions on product sales can help you build a plan tailored to your situation.Practical steps if you are ready to explore MYGAsIf the rate advantage and tax-deferred growth appeal to you, here is how to move forward without making a costly mistake.Determine your available lump sum: Only commit money you are confident you will not need for the full term. Do not touch your emergency fund or near-term reserves.Compare rates from A-rated carriers: Use rate comparison tools from sources like Blueprint Income, Annuity Expert Advice, or Immediate Annuities. Always verify the insurer’s AM Best rating is A- or higher.Consider a laddering strategy: Instead of putting everything into one five-year MYGA, split your deposit across three, four, and five-year terms so one matures each year.Decide between qualified and non-qualified funding: You can fund a MYGA with IRA money (qualified) or personal savings (non-qualified). The tax treatment at withdrawal differs, so understand the implications before you choose.Read the surrender schedule carefully: Know exactly what fees apply if you need to access more than the annual free withdrawal amount before maturity.MYGA rates remain near 15-year highs heading into spring 2026. If the Fed continues its gradual easing, those rates may not stay at these levels much longer. For retirees sitting on excess cash in a savings account, this is a window worth taking seriously.

They argue the tax would be illegal, violating Brazil’s Constitution and Virtual Assets Law, as stablecoins are not considered fiat currency.

“This time is different” are the four most dangerous words in investing.

Rob Zombie debuts The Great Satan on several Billboard charts, including the Billboard 200, where it is his first traditional studio album to miss the top 10.

A fire broke out in the laundry room of USS Gerald R. Ford, and was quickly contained, but other fires on U.S. Navy aircraft carriers have been far more devastating

Virgin River is returning for season 8 and when it does, it will set an all-time Netflix record.