Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE
Published . Updated .
This report is about US interest rates.
Directly affected
- No company is named in this report.
Indirectly affected
- TLT iShares 20+ Year Treasury Bond ETF-1.8% 30d
iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story.
- IEF iShares 7-10 Year Treasury Bond ETF-0.9% 30d
iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story.
- JPM JPMorgan Chase-4.3% 30d
JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
- BAC Bank of America-11.1% 30d
Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
- DHI D.R. Horton+4.7% 30d
D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
- SCHW The Charles Schwab
The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| TLT | -0.20% | -1.03% | base | after close | after close | after close | after close |
| IEF | -0.69% | -0.98% | base | after close | after close | after close | after close |
| JPM | -0.92% | +0.67% | base | after close | after close | after close | after close |
| BAC | +1.08% | +1.74% | base | after close | after close | after close | after close |
| DHI | +0.34% | -2.12% | base | after close | after close | after close | after close |
| SCHWNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE This is Money
Source: This is Money
How far Ishares Tr (TLT) has moved since 1 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Bank Of America (BAC) | three days earlier | +1.74% | final price |
| Bank Of America (BAC) | five days earlier | +1.08% | final price |
| Horton D R (DHI) | three days earlier | -2.12% | final price |
| Horton D R (DHI) | five days earlier | +0.34% | final price |
| Ishares Tr (IEF) | three days earlier | -0.98% | final price |
| Ishares Tr (IEF) | five days earlier | -0.69% | final price |
| Jpmorgan Chase (JPM) | three days earlier | +0.67% | final price |
| Jpmorgan Chase (JPM) | five days earlier | -0.92% | final price |
| Ishares Tr (TLT) | three days earlier | -1.03% | final price |
| Ishares Tr (TLT) | five days earlier | -0.20% | final price |
Trades by members of Congress and officials in the stocks in this story
- Sen. John Boozman bought Ishares Tr (IEF) (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 53 days before publication. Filed 21 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 58 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 58 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 66 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 53 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 69 days before publication. Filed 16 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Horton D R (DHI), worth $15,001 - $50,000 on 17 Aug 2026. That is 76 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Ishares Tr (TLT)
Companies mentioned with this story
- TLT Ishares Tr
For “Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE,” Ishares Tr (TLT) is linked, with no stored direction, medium confidence. Reason on file: iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story
- IEF Ishares Tr
In “Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE,” Ishares Tr (IEF) is linked, with no stored direction, medium confidence. Reason on file: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story
- JPM Jpmorgan Chase
For “Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE,” Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence. Reason on file: JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story
- BAC Bank Of America
In “Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE,” Bank Of America (BAC) is linked, with no stored direction, medium confidence. Reason on file: Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story
- DHI Horton D R
For “Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE,” Horton D R (DHI) is linked, with no stored direction, medium confidence. Reason on file: D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story
- SCHW Schwab Charles
In “Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE,” Schwab Charles (SCHW) is linked, with no stored direction, medium confidence. Reason on file: The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story
Ishares Tr (TLT)
Ishares Tr (TLT) is the company in “Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE,” the 1 Nov 2026 this story story.
Ishares Tr (TLT) is on the page because iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story
Ishares Tr (IEF) is here too. Its reason reads: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story
Dates in the story, and the Ishares Tr (TLT) price range
IEF traded between 88.64 and 91.23 across 20 sessions. The latest close on file is 90.08. JPM traded between 325.12 and 345.73 across 20 sessions. The latest close on file is 337.10. TLT traded between 76.44 and 81.94 across 20 sessions. The latest close on file is 79.46.
How strong the case is around Ishares Tr (TLT)
46 out of 100
“Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.