Writing the summary…
What to watch as Treasury Secretary Scott Bessent testifies before Congress
Source: CNBC
Original reporting
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CNBC
10-year Treasury yield rises to highest since 2007 as Fed rate-hike expectations rise
The sell-off in U.S. government debt is deepening as investors increasingly price in an interest rate hike this week.
CNBC
Iranian foreign minister will head to China for talks, as Pentagon reveals financial cost of war
Iranian Foreign Minister Abbas Araghchi will visit China on Wednesday for talks, Beijing's foreign ministry announced on Tuesday.
CNBC
No one and done: The Fed will hike at least two times over the next year, according to CNBC survey
While higher oil is cited as a main reason for the change in view, roughly three quarters of respondents see the inflation problem as broader than just energy prices.
The Guardian
Pensioners are ‘big winners’ with triple-lock set to rise by 3.9%, lifting state pension to £13,000 – business live
Wage growth – used to set triple-lock pension – slows to 3.9%, meaning state pension should hit £13,000 next year ‘Costing billions’: is the pensions triple lock a lifeline or simply unaffordable? If the state pension rises to £13,000 next year, it will probably breach the UK’s tax-free personal allowance (currently £12,570) – the amount you can earn before paying income tax. However, pensioners who don’t receive any other income should still be exempt from paying tax if the state pension exceeds the personal allowance. In the 2025 Budget the government announced the personal allowance would be frozen at its current level up to April 2031 . It also announced that pensioners whose sole income is the basic or new state pension would not have to pay small amounts of tax via simple assessment from 2027/28 if the new or basic state pension exceeded the personal allowance from that point . To
CNBC
Oil’s safety net is fraying as Saudi Arabia races to restart a key pipeline
Analysts warn oil prices could rally sharply if the pipeline remains offline beyond an estimated five-to-seven-day inventory cushion.
CNBC4 outlets
U.S. confirms for first time it has weapons deployed in space
It sounds like something ripped straight out of a science fiction war movie, but it is now a reality: the U.S. has, for the first time, confirmed it has deployed a space weapon in Earth’s orbit.