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Cranberry Journal

Tuesday, October 13, 2026

Also in this edition
Markets
  • S&P 5007,795.56−0.15%
  • Nasdaq27,197.05−0.18%
  • Dow51,701.63−0.29%
  • 10-yr yield5.22%−0.29%
  • Crude$94.11+0.40%
At the close · Oct 13

Bond Market

Tagged stories

A single-storey Wells Fargo bank branch with the company's gold lettering above the entrance, under a clear blue sky.
Business

Wells Fargo Beat on Earnings and Missed on Revenue. Its Capital Ratio Fell to 10.0 Per Cent as Its Unrealised Losses Doubled.

Wells Fargo earned $5.95 billion, or $1.87 a share, in the third quarter, above the $1.85 average estimate, but revenue of $21.87 billion was below the $22.15 billion analysts expected, according to the Associated Press. Its CET1 ratio fell to 10.0 per cent from 10.3 per cent in three months, as its accumulated other comprehensive loss rose from $8.3 billion to $16.5 billion.

By Cory Chamberlain  

Two men walk past the stone facade of the Treasury Department building in Washington, with 'The Department of the Treasury' carved above three doors and seals mounted between them.
The Numbers

Washington Paid $709 Billion of Interest This Year, Almost as Much as It Sent the States for Medicaid

The Treasury paid $709.3 billion of interest on its securities in the fiscal year that ended on Wednesday, according to its daily cash statement, up 16 per cent from a year earlier and more than twice the level of 2022. Medicaid grants to the states came to $721.4 billion. Four years ago interest was about half of Medicaid. The average rate on the debt is still below 3.5 per cent, while new ten-year debt costs 5.3.

By Daniel Okafor