Hello, YieldAlley readers! In this issue:
Berkshire Hathaway Resumes Buybacks and Abel Goes All In -- What It Means for Your Portfolio
Mideast Conflict and Payroll Shock Rattle Markets as Oil Prices Surge
Save $30 on Pet Supplies at Amazon (Spend $100+)
The World’s 50 Most Valuable Companies in 2026
And more!
NEWS
Standout Stories
🖥️ Why Apple is moving into the lower-cost smartphone and laptop markets (Sherwood)
💸 The Best Strategies for Consistent Retirement Spending (Morningstar)
👨💻 These 10 jobs are most exposed to AI, Anthropic finds (CBS)
🌉 We Considered Leaving San Francisco in Retirement. We’re So Glad We Didn’t. (WSJ)
🙅♂️ What Advisors Get Wrong About Retirement Planning (ThinkAdvisor)
MARKET THOUGHTS
Mideast Conflict and Payroll Shock Rattle Markets as Oil Prices Surge
ECONOMY
ISM data pointed to continued economic expansion in February. The manufacturing PMI came in at 52.4, marking the second straight month of expansion and only the third reading above 50 in the last 40 months, while the prices paid component hit its highest level since June 2022. The services PMI surprised to the upside at 56.1, the highest since July 2022, with strength in new orders, business activity, and employment supporting the 20th consecutive month of services expansion. Labor market data sent mixed signals throughout the week. ADP reported private payrolls rose by 63,000 in February, up from a revised 11,000 in January, while initial jobless claims held steady at 213,000 and Challenger reported a sharp drop in announced layoffs to 48,000 from 108,000 the prior month. However, Friday's nonfarm payrolls report showed a decline of 92,000 jobs, well below expectations for a gain of 60,000, with the unemployment rate ticking up to 4.4%, complicating the outlook for Fed policy as policymakers weigh labor market cooling against rising inflation pressures from surging energy prices.
STOCKS
Major U.S. indexes finished the volatile week lower as escalating conflict in the Middle East, following U.S. and Israeli military strikes on Iran, rattled investor sentiment. The S&P MidCap 400 Index was the worst performer, shedding 4.61%, followed by the Russell 2000 Index at roughly 4.07%. The Dow Jones Industrial Average fell 3.01% to close at 47,501.55, while the S&P 500 declined 2.02% to 6,740.02. The Nasdaq Composite held up best but still lost 1.24%, closing at 22,387.68. Oil prices surged amid concerns about potential supply disruptions and broader geopolitical spillovers. Year to date, the Nasdaq leads declines at negative 3.68%, followed by the S&P 500 at negative 1.54% and the Dow at negative 1.17%, while smaller-cap indexes remain in positive territory with the S&P MidCap 400 up 3.18% and the Russell 2000 up 1.75%.
FIXED INCOME
Treasury yields pushed higher over the week as investors reassessed inflation risks and the outlook for Federal Reserve policy in light of surging oil prices tied to the Mideast conflict. Rising energy costs raised concerns about potential pass-through to broader inflation measures, adding uncertainty to the rate-cutting timeline. The weaker-than-expected nonfarm payrolls report on Friday introduced a competing narrative of labor market softening, but persistent inflation signals, including the ISM manufacturing prices paid component hitting its highest level since June 2022, kept upward pressure on yields. The conflicting data points present a difficult backdrop for the Fed, which must balance signs of economic cooling against energy-driven price pressures that could prove more than transient.
INCOME BUILDING TIP
Berkshire Hathaway Resumes Buybacks and Abel Goes All In -- What It Means for Your Portfolio
Greg Abel officially took over as CEO of Berkshire Hathaway in January, and he's already making moves. In early March, Abel announced that Berkshire has started buying back its own shares again after making zero repurchases throughout all of 2025, even when BRKB dipped into the $450s. Under Berkshire's rules, buybacks only happen when both Abel and Warren Buffett (who retains a consultation role as Chairman) agree the stock trades below their conservative estimate of intrinsic value. The fact that they're buying now is a signal worth paying attention to.
Abel also announced he'll use his entire after-tax annual salary (roughly $15 million) to purchase Berkshire shares every year for as long as he's CEO. "I'm committed to doing this every year," he told CNBC. That's about as much skin in the game as you can have. In his first shareholder letter, Abel emphasized the same principles that defined the Buffett era: decentralized management, disciplined capital allocation, limited debt, and a fortress balance sheet. Berkshire now holds over $370 billion in cash and U.S. Treasuries, delivered $44.5 billion in operating earnings in 2025, and generated $46 billion in net cash flows from operations. The insurance float alone stands at $176 billion, up from $171 billion the year before.
For income-focused investors, BRKB has a quirky advantage worth knowing about. Berkshire has never paid a dividend and has stated it won't as long as each dollar of retained earnings creates more than a dollar of market value. That means no 1099-DIV forms at tax time. If you're someone who opens multiple brokerage accounts for transfer bonuses (and many YieldAlley readers do), parking those bonus deposits in BRKB means you can move shares around via ACAT transfers without generating taxable dividend events along the way. You still owe capital gains tax when you eventually sell, but if you never sell, you defer that indefinitely. It's a simple, low-maintenance holding that has historically matched or exceeded the S&P 500 over long periods, without the annual tax drag of dividend distributions.
The bottom line: nobody knows what Berkshire looks like without Buffett actively running it, and Abel still has a lot to prove. But the early signals, resuming buybacks, committing personal capital, and reaffirming the same principles in writing, are exactly what long-term shareholders want to see. If you already own BRKB, there's no reason to change anything. If you don't, and you're looking for a tax-efficient way to park money you won't need for a decade or more, it's worth understanding why this particular stock has such a loyal following.
Berkshire resumes buybacks and new CEO Abel commits his full salary to buying shares, signaling confidence in value.
INCOME BUILDING
Cash Rates
Government Money Market Funds (7-Day Yields)
SNVXX (Schwab Government Money Fund - Investor Shares): 3.40%
SPAXX (Fidelity Government Money Market Fund): 3.31%
TTTXX (BlackRock Liquidity Funds: Treasury Trust - Institutional Class): 3.54%
VMFXX (Federal Money Market Fund): 3.59%
Brokered CD Rates (6-Month Rate)
Charles Schwab: 3.79%
E*Trade: —
Fidelity: 3.80%
Merrill Edge and Merrill Lynch: —
Vanguard: 3.80%
ETFs (30-Day Yields)
SGOV (iShares 0-3 Month Treasury Bond ETF): 3.54%
BIL (SPDR Bloomberg 1-3 Month T-Bill ETF): 3.46%
USFR (WisdomTree Floating Rate Treasury Fund): 3.57%
TFLO (iShares Treasury Floating Rate Bond ETF): 3.58%
DEALS AND BONUSES
Save $30 on Pet Supplies at Amazon (Spend $100+)
Amazon is running a promotion on over 1,000 select pet products where you get $30 off when you spend $100 or more. That's up to 30% savings, and it stacks nicely with the right credit card for even deeper discounts.
Offer Details
Main promotion: $30 off when you spend $100+ on eligible pet products
Promo code: None (applied automatically at checkout)
Eligibility: All Amazon customers; over 1,000 eligible items on the promo page
Shipping: Free on orders $35+, or free next-day shipping with Prime
Stacking with credit cards: U.S. Bank Shopper Cash Rewards (6% back), Amazon Prime Visa (5% back), Citi Dividend (5% back this quarter), or load Amazon gift card balance via Staples/Office Depot with Chase Ink Business Cash (5X UR)
Our Thoughts
At up to 30% off before credit card rewards, this is a solid deal if you were already planning to stock up on pet food, treats, or supplies. The real play is stacking the $30 discount with a 5-6% cash back card, which brings your effective savings to 35%+ on a $100 order. Browse the promo page first to make sure the items you actually need are eligible, since not everything qualifies.
Picture of the Week
