Dan Schwartzman

mortgage rates increasing last week to the highest since August.

The contract rate on a 30-year mortgage rose nine basis points to 6.65% in the week ended May 22nd.

That's according to Mortgage Bankers Association data.

Since the start of the Iran war at the end of February, the rate has climbed more than a half percentage point.

Meanwhile, the index of home purchase applications slipped for a second straight week.

Robinhood Markets customers will shortly be able to direct AI agents to trade equities and make purchases on their credit cards for them.

Clients will be able to establish an agentic trading account that's entirely separate from their standard portfolio, limiting the funds an agent can access to only those deposited.

Investors can then direct the AI agent to build a diversified portfolio from scratch.

Robinhood has already been using AI to enhance some products, such as in its wealth management area.

Business executives in Switzerland are becoming alarmed as the country will vote on June 14th on a plan to cap its population at 10 million people, which would require a massive reduction in immigration.

The population of Switzerland is already at over 9.1 million people.

Companies are worried they will lose out on international talent that they have long relied on.

Annual migration would have to drop by at least half to avoid reaching the ceiling by 2050.

We check markets all day long here at Bloomberg.

The Dow is up a third of a percent.

The S&P 500 is down around two-tenths of a percent, as is the Nasdaq.

The 10-year Treasury yield is at 4.484 percent, while the two-year yield is at 4.04 percent.

That's news when you want it with Bloomberg News Now.

I'm Dan Schwartzman and this is Bloomberg.

News when you want it with Bloomberg News Now.