Japan's Auction of 40-Year Bonds Shows Weak Demand Amid Rise in Superlong Yields
TOKYO–An auction of 40-year Japanese government bonds drew the weakest demand in nearly a year, indicating that investors have become cautious amid a recent rise in superlong bond yields.
The government on Wednesday sold about 500 billion yen, equivalent to $3.46 billion, of 40-year bonds yielding 3.135%.
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NASA, Pentagon push for SpaceX alternatives amid Trump's feud with Musk
NASA and Pentagon officials moved swiftly this past week to urge competitors to Elon Musk's SpaceX to more quickly develop alternative rockets and spacecraft after President Donald Trump threatened to cancel Space X's contracts and Musk's defiant response. Government officials were especially stunned after Musk responded to Trump with a salvo of his own: SpaceX would stop flying its Dragon spacecraft, a move that would leave the space agency with no way to transport its astronauts to the International Space Station. Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. Musk later recanted his threat. But it alarmed officials at NASA, which entrusts SpaceX with the lives of its astronauts, and at the Pentagon, which relies heavily on the company to launch its most sensitive satellites. The worried reaction within space and national security agencies highlights the risks of the government's heavy dependence on SpaceX for crucial tasks, including classified missions. SpaceX, with billions of dollars in government contracts, flies people and cargo to the ISS, launches satellites for the Pentagon and develops satellites used by intelligence agencies. The concerns are compounded by the fact that its competitors have been slow to catch up, leaving SpaceX's dominance largely unchallenged and the government with few options. This account is based on interviews with a dozen people in industry and government who spoke on the condition of anonymity because they were not authorized to speak publicly about internal deliberations. One NASA official said that watching the feud between Trump and Musk play out on social media Thursday at first was 'entertaining.' But once Musk called for decommissioning Dragon, 'it turned really terrifying.' There was a similar reaction in the Pentagon, where a person said staff officers 'looked at each other and said, 'oh, it's not funny anymore.' There was a realization that we're not watching TV. This is a real issue.' Musk's behavior has worried NASA officials before. In 2018, NASA ordered an investigation into SpaceX's safety culture after Musk appeared to take a small hit of marijuana on the Joe Rogan podcast. But his sudden threat on social media to cut off NASA's access to the orbiting space station, which has cost NASA some $100 billion over its lifespan, 'crossed a line,' one former space agency official said. 'When you realize that he's willing to shut everything down just on an impulse, that kind of behavior and the dependence on him is dangerous. … I can tell you there is deep concern within NASA.' The rift between Musk and Trump was also fueled by the White House's withdrawal of Jared Isaacman's nomination to be NASA administrator. Isaacman had flown to space twice with SpaceX and was seen as closely aligned with Musk. SpaceX did not respond to a request for comment. Since Thursday's exchange, at least three commercial space companies, RocketLab, Stoke Space and Jeff Bezos's Blue Origin, have been contacted by government officials about the status of their rockets and when they might be available for government missions, according to four people familiar with the inquiries. (Bezos owns The Washington Post.) Officials at Sierra Space, which is developing a Dream Chaser spaceplane that could deliver cargo to the space station, were in a meeting with NASA officials on Thursday as the Trump-Musk feud was getting underway. 'Sierra Space stands ready to ensure uninterrupted support for the International Space Station,' Fatih Ozmen, the company's CEO, said in a statement to The Post. He added that 'NASA mentioned to us that they want diversity and do not want to rely on a single provider.' Dream Chaser 'is in final testing and integration at Kennedy Space Center,' Ozmen said. 'We are working closely with NASA leadership to fly the vehicle later this year.' The company is also working on a variant of Dream Chaser to carry astronauts, he said, 'which NASA is studying.' Musk's declaration also rattled staffers on Capitol Hill. A key congressional committee asked about the status of Boeing's Starliner space capsule vehicle, according to a person with knowledge of the inquiry. NASA intends to use Starliner to fly crews to the space station along with SpaceX's Dragon capsule. The spacecraft is years behind schedule, however, and during its first human spaceflight mission to the ISS last summer, it ran into so many problems that NASA decided it was unsafe to return to the crew with Boeing. But with Musk threatening to end Dragon, the congressional aide wanted to know when Starliner would be ready to fly again. In recent months, NASA has said little about the status of Starliner. But in response to reporters' questions, the agency issued a statement late Friday saying that it is planning for a Starliner flight to the space station 'in early 2026, pending system certification and resolution of Starliner's technical issues.' NASA is still evaluating whether the capsule would fly with astronauts on board or with cargo only. Even though he later recanted, Musk's threat to curtail NASA's use of Dragon could be damaging to a company that has been one of the government's most trusted partners, said Todd Harrison, a defense analyst at the American Enterprise Institute. 'It's almost like an embargo of the space station,' he said. 'Musk was saying he is going to cut NASA off from its own laboratory in space.' Harrison said the threat was reminiscent of Musk's refusal to activate the Starlink Internet system so that Ukraine could carry out an attack on Russian forces in 2022. That decision also prompted an outcry that the nation's defenses should not be in the hands of a single person or company. Given that SpaceX has experience operating its Starlink Internet satellite constellation, it had been considered to be a natural choice for Trump's proposed Golden Dome missile defense shield, which would rely on swarms of satellites in orbit. But Musk's threat was so impulsive that it will undoubtedly rattle defense officials, Harrison said, who would not look favorably on the 'idea that the nation's missile defenses could be held hostage to the twittering whims of Elon Musk.' For NASA's astronauts, Musk's social media post 'got very personal' because it could impact their ability to fly, said Garrett Reisman, a former NASA astronaut who previously worked at SpaceX. 'We shouldn't overreact to a fit of pique on social media. But when your hopes and dreams are tied up in this, you can't help but think, 'Oh my goodness am I going to fly in space?'' The Pentagon has recently made an effort to broaden the military and space industrial base, allowing for competition to drive down cost and increase innovation. The Space Force last year released a strategy that said the service would seek to avoid 'overreliance on any single provider or solution.' To allow more companies to vie for lucrative space contracts, the Pentagon recently created two 'lanes' of launch competitions. Lane 1 allows new entrants to bid on individual contracts to launch satellites that are smaller and not as vital; Lane 2 would be reserved for more powerful and proven rockets that would hoist satellites that cannot risk failure. SpaceX, however, has continued to dominate those missions. Its Falcon 9 rocket launches at an unprecedented cadence, while those of its competitors, including the United Launch Alliance's Vulcan, Blue Origin's New Glenn and RocketLab's Neutron, are still largely unproven. New Glenn has launched just once; Vulcan twice; Neutron not at all. And even before Musk's social media posting, the Pentagon publicly expressed worry about the pace of Vulcan's development even though it has won certification to fly national security missions. In a statement to the House Armed Services Committee last month, U.S. Space Force Maj. Gen. Stephen Purdy said that contractors like ULA must 'establish a culture of accountability, and repair trust deficit to prove to the [Service Acquisition Executive for Space] that they are adopting the acquisition principles necessary to deliver capabilities at speed, on cost and on schedule.' From a legal and practical standpoint, the threats by the president and Musk would be difficult to carry out, said procurement specialists. If either the government or the company opted out, they would face major financial penalties, government procurement experts said. And if the contractor pulled out, it could affect its ability to win future contracts. Still, some had warned about Musk's foray into politics and the consequences for his companies. In an interview last year, Peter Beck, the CEO of RocketLab, which is seeking to compete for national security launch contracts, predicted that Musk's acquisition of Twitter, now X, and time at Trump's side could end up hurting his businesses. 'It certainly makes people uncomfortable,' he said at the time. 'At the end of the day, if you're delivering important national security missions, the buck stops with the CEO.' Related Content To save rhinos, conservationists are removing their horns Donald Trump and the art of the Oval Office confrontation Some advice from LGBTQ elders as WorldPride kicks off amid fears
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4 Money Traps the Newly Wealthy Fall Into — and How To Avoid Them
Suddenly seeing more zeros in your bank account is an inexplicable feeling. Whether it's a big raise, a windfall or finally hitting your stride in business, coming into money can feel like a dream come true. But if you're not careful, that dream can quickly turn into a financial mess — fast. 'Getting rich in a hurry feels exciting, like winning a huge prize at the fair, but the rush can also make people trip over their own wallets,' said Andrew Gosselin, CPA, personal finance expert and senior contributor at SaveMyCent. Be Aware: Learn More: From lifestyle inflation to 'helping' everyone you know, the newly wealthy often fall into the same money traps. These are some of the most common pitfalls to watch out for, according to experts — and how to keep your money working for you, not against you. The first stumble, according to Gosselin, happens when spending climbs as fast as income. Forbes even called lifestyle inflation the 'silent drain on your finances.' A solid car might suddenly look old next to a shiny sports model, and a cozy house may feel small beside a mansion. But Gosselin recommended taking a deep breath before buying. 'Waiting one full day before any big purchase gives your brain time to ask whether this thing brings real joy or just quick sparkle. Saving that cash instead lets it grow into even bigger choices later,' he said. Michael Foguth, founder of Foguth Financial Group, had similar advice. 'One of the first things I tell clients who've just come into significant wealth — whether through inheritance, a business sale or a windfall — is to pause.' Check Out: A second trap is forgetting to draw a map for the money. When dollars show up without a plan, Gosselin said they tend to wander off into risky deals or sit in a low-interest account doing nothing. Writing a clear goal list helps every coin know where to go. He said a trusted professional who must put your interests first can polish that map so taxes stay low and investments spread out safely. 'Spending a little on good advice keeps you from spending a lot on mistakes,' he said. The thrill of wealth often whispers that you can double it fast, according to Gosselin. Shiny offers promise huge profits with almost no risk, yet most of these offers hide danger. Before you place money in any deal, he advised studying it until you can explain it in simple words to a friend. If it still sounds perfect, share the idea with your advisor and use only money you can afford to lose. 'Putting savings in a mix of safe bonds, broad stock funds and maybe a small slice of daring ideas keeps a fall in one area from squashing the whole pile,' he said. Family and friends may ask for loans because they know you have extra, Gosselin said. And while helping feels good, he said mixing money and love can end up twisting both. Instead, decide in advance how much you are willing to give without needing it back. If you choose to lend, put every promise on paper with dates for paying you back. Remember, saying no can feel hard, yet protecting your financial future helps everyone in the long run. 'Some people start paying for every dinner and vacation once their bank account swells,' Gosselin said. While picking up the bill once in a while is a kind gesture, doing it every time turns you into a walking wallet and can make others feel awkward. What should you do instead? Invite friends to split costs or choose fun activities that do not break the bank. 'True friends care more about shared time than fancy price tags,' he said. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard The 10 Most Reliable SUVs of 2025 Clever Ways To Save Money That Actually Work in 2025 This article originally appeared on 4 Money Traps the Newly Wealthy Fall Into — and How To Avoid Them Sign in to access your portfolio
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JD Vance says it was a 'huge mistake' for Musk to go after Trump with Epstein accusation
Vice President JD Vance told comedian and podcast host Theo Von on Saturday that Elon Musk made a "huge mistake" by accusing President Donald Trump of being implicated in the Jeffrey Epstein files. Vance warned that Trump and Musk being embroiled in a "blood feud" with one another will be bad for the country and will likely not end well for the Tesla CEO either. "I think it's a huge mistake for him to go after the president like that. And I think that if he and the president are in some blood feud — most importantly — it's going to be bad for the country, but I think it's going to be, I don't think it'll be good for Elon either," Vance argued. 'Gone Too Far': Gop Lawmakers Rally Around Trump After Musk Raises Epstein Allegations Musk referenced Jeffrey Epstein in relation to Trump on Thursday as part of a larger attack against the president and Republican leaders over their budget reconciliation bill. "Time to drop the really big bomb. [Trump] is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!" Musk wrote on X. "Mark this post for the future. The truth will come out." Read On The Fox News App Vance told the comedian Trump "didn't do anything wrong with Jeffrey Epstein" and that his loyalties will always be with the president. He noted that he hopes Musk will eventually "come back into the fold," but doubted the possibility of that coming true after his tweet accusing Trump of being involved with Epstein. Click Here For The Latest Media And Culture News When asked by Von why he believed Musk's "feelings were hurt," Vance speculated that the culmination of the violent threats against him and his company, paired with Congress' budget reconciliation bill, may have pushed him over the edge. "His businesses are being attacked nonstop. They're literally like firebombing some of his cars," he pointed out. "So I think part of it is this guy got into politics and has suffered a lot for it. But I mean, and I get the frustration there… Congress, you got this spending bill. But the main purpose of the bill is not actually spending or cutting spending, though it does cut a lot of spending." The vice president acknowledged Musk's concerns over the spending bill that allegedly started the feud between the two and noted that disagreements over its contents likely caused some "frustrations." "The main purpose of the bill is to prevent the biggest tax increase, but I understand — it's a good bill — it's not a perfect bill," Vance said. "The process in D.C., if you're a business leader, you probably get frustrated with that process because it's more, you know, bureaucratic. It's more slow-moving. So I think there's just some frustrations there." Fox News' Elizabeth Elkind, Deirdre Heavey and Alex Miller contributed to this article source: JD Vance says it was a 'huge mistake' for Musk to go after Trump with Epstein accusation
