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Former Defense Secretary Donald Rumsfeld dies at age 88

Former Secretary of Defense Donald Rumsfeld has died at the age of 88, his family said Wednesday.

The big picture: Rumsfeld served as defense secretary under Presidents Gerald Ford and George W. Bush.


What they're saying: “It is with deep sadness that we share the news of the passing of Donald Rumsfeld, an American statesman and devoted husband, father, grandfather and great grandfather," his family said in a statement

"History may remember him for his extraordinary accomplishments over six decades of public service, but for those who knew him best and whose lives were forever changed as a result, we will remember his unwavering love for his wife Joyce, his family and friends, and the integrity he brought to a life dedicated to country.”

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The spike in global bond yields is setting up a clash between the world's top central bankers

While Fed chair Jerome Powell is brushing off the seismic rise in government bond yields and a corresponding decline in stock prices, a group of central bankers in the Pacific are starting to take action.

Driving the news: Bank of Japan governor Haruhiko Kuroda told parliament on Friday the BOJ would not allow yields on government debt to continue rising further above the BOJ's 0% target.

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