As the week comes to an end, here’s a roundup of the major events that unfolded in the financial world.

Peter Schiff Warns Treasury Yields Could Hit 8%, Crush Mortgage Rates

Renowned investor Peter Schiff has issued a warning about the potential for Treasury yields to reach 8%, which could have a significant impact on mortgage rates.

Schiff believes that the bond market is currently in a structural bear market, and the national debt’s significant growth will continue to drive Treasury yields higher. The 10-year Treasury yield recently hit 4.78%, its highest level since 2007.

Read the full article here.

China Alone Rejects G20 Push To Curb ‘Cheap’ Exports

China has become the sole member of the G20 to oppose a joint statement aimed at addressing the issue of low-cost exports from non-market economies.

The joint statement, issued by the Treasury Department, highlights China’s objections to two key provisions. This includes a paragraph where 19 members agreed to eliminate non-market policies and practices that exacerbate economic imbalances.

Read the full article here.

Want To Invest Millions Tax-Free? America’S Wealthiest Are Turning To A ‘Roth IRA On Steroids’

Ultra-wealthy Americans are increasingly using a specialized type of life insurance to invest large sums of money while allowing their investment gains to grow tax-free.

This strategy, known as private-placement life insurance (PPLI), has attracted billions of dollars from wealthy investors looking to reduce taxes on investment income and build wealth for their heirs.

Read the full article here.

Norges Bank Proposes $80B Shift From U.S. Treasuries To Mortgage-Backed Bonds

Norges Bank Investment Management, the manager of the world’s largest sovereign wealth fund, has proposed reducing its exposure to U.S. Treasuries and increasing its bond portfolio’s riskier U.S. debt, including mortgage-backed securities.

The proposed changes would reduce the fund’s U.S. Treasury allocation by 12.2 percentage points, equivalent to roughly $80 billion.

Read the full article here.

Robinhood CEO Vlad Tenev Defends Tokenization After AMC CEO Adam Aron’S Accusations

Robinhood Markets Inc. (NASDAQ:HOOD) CEO Vlad Tenev has come to the defense of tokenization following accusations from AMC Entertainment Holdings Inc. (NYSE:AMC) CEO Adam Aron that the company issued unregistered stock-tracking tokens in violation of U.S. securities law.

Tenev argued that tokenization could bring the “best of US capital markets” to investors around the world. He described the traditional market infrastructure as not built for 24/7 trading, self-custody, or composability.

Read the full article here.

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