Beware of the 'churn'

And more of the week's best financial insight

A person purchasing online tickets.
Credit-card churners are purchasing expensive concert tickets for resellers to maximize their reward points
(Image credit: CarmenMurillo / Getty Images)

Here are three of the week's top pieces of financial insight, gathered from around the web:

Problems to watch for in your will

A grim decline for bonds

"The bond market is back in the doldrums," said Krystal Hur at CNN. Worry that the Federal Reserve will keep interest rates higher for longer has driven U.S. Treasury yields to their highest level in over a decade. That’s good news for anyone buying a bond today with the intention of holding it until maturity. But traders are seeing the prices of their existing bonds tank. One widely tracked exchange-traded bond fund, the iShares Core US Aggregate Bond ETF, is on pace to decline for the third straight year, something that hasn’t happened since its launch in 2003. "A flurry of new government debt issuance" has also "inundated" the market, pushing down prices.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

Beware of the ‘churn’

"Credit-card churners" are purchasing expensive concert tickets for resellers to maximize their reward points, said Jason Koebler at 404Media. "Churning" is a once-obscure practice in which people try to take maximum advantage of credit-card signup bonuses and other rewards programs. One company, PFS Buyers Club, incentivizes churners to get points by buying expensive concert tickets for artists like Taylor Swift on behalf of ticket resellers, who add a small commission. But this "human-buying botnet" system can backfire. Recently, "PFS told its members to buy as many tickets to Travis Scott’s shows as possible," and his entire tour quickly sold out. But prices on the resale market for Scott tickets have plummeted to $12, threatening PFS’s ability to reimburse its members. 

This article was first published in the latest issue of The Week magazine. If you want to read more like it, you can try six risk-free issues of the magazine here.