Who needs a $40 million Yacht?
The Heartbreak of a $40 Million Yacht - NYTimes.com: "Given the money involved, it’s interesting that Doug Von Allmen likens yachts to a mobile home. A. He told me: “Some people have houses in the mountains, some have houses on the beach. I like the idea that if I don’t like the scenery I can move.” These yachts can go anywhere in the world. They have freezers with enough food that you could survive for months. But they often go the same places everyone else goes: the Mediterranean in summer, St. Barts at New Years, runs up the East Coast in June. The owners sometimes act like they’re moving to a series of mobile home parks."
Grand Ambition: The Story of Fort Lauderdale’s Lady Linda: "“If there is a moral to the story, it’s that many of the $15-a-hour people who worked on the boat are happier than the rich people who own it,” Knecht said."
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A top bank says the Fed must act now to address the highest bond yields
since 2007
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The Fed can't wait until its June meeting to address surging bond yields.
Strategists say Fed officials should turn hawkish now to calm markets.
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