Last year, billionaire Robert Smith shocked about 400 Morehouse College graduates (and people around the world) when he announced that he would pay off their student debt. Today, he returns with an initiative that he believes will address the challenges faced by black student loan borrowers on a broaderRead More →
The European Central Bank (ECB) may be fearing default as rumors circulate that it plans to plant at least half a trillion euros of “bad” debt in a “bad bank.” As Reuters reported on June 10 citing two people familiar with the matter, the ECB now wants to quarantine itsRead More →
Getty Images Massive disruptions in China’s economy cause by COVID-19 are cascading throughout the rest of the world, including the United States. The numbers: Most U.S. manufacturers said business began to slow to a crawl in February as supply bottlenecks tied to the coronavirus impaired their ability to get parts,Read More →
The U.S. stock-market rally has unraveled, with a period of historic gains coming to a screeching halt, as fear that the coronavirus epidemic may reach America rattles Wall Street. The Dow Jones Industrial Average DJIA, -1.39% fell into correction on Thursday, widely defined as a drop of at least 10%,Read More →
A historic week for the stock market ended with a big, fat question mark: what will the government and the Federal Reserve do about the coronavirus outbreak that threatens to decimate the longest-running bull market on record? The infectious disease, Covid-19, which reportedly originated in Wuhan, China, late last year,Read More →
Investing lore has it that bond investors are the “smart money” since they know their way around financial statements. I’m not sure this is true. But if it is, bond guru Mark Vaselkik may qualify as one of the smarter investors around. He’s the chief investment officer for fixed incomeRead More →
Kevin Muir of “The Macro Tourist” admits he’s typically an ursus arctos horribilis — grizzly bear — when it comes to the bond market, but, with stocks selling off hard, he can’t resist a trade he says is “setting up beautifully” in this climate. “I am aware that the virusRead More →
Unemployment hasn’t been this low for 50 years, but a record one-quarter of student loans from a popular federal program qualified for easier repayment plans to help borrowers avoid default, according to DBRS Morningstar. Income-based repayment plans were being used on 24.7% of $452 billion worth of student loans withRead More →
Dear Catey, I am a 40-year-old law-enforcement officer and hope to retire in 13 or 14 years. At that time, I will have 30-plus years on the job with a pension giving me 70% of my current income with a cost-of-living annual percentage increase around 2% or 3%. Additionally IRead More →
U.S. Treasury yields extended their weeklong slump on Friday as investors worried that the economic impact of COVID-19 may not be contained to China, and is spilling over into neighboring regions. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, -3.50% fell 5.4 basis points to a more thanRead More →
skynesher/iStock Young couple using digital tablet with their financial advisor in the office. How are financial advisors investing their clients’ money? The most recent edition of the Advisor Insights Guide from BlackRock’s Portfolio Solutions team sheds some light. The guide, which covers the third quarter of 2019, aggregates information fromRead More →
By Davide Barbuscia and Saeed Azhar DUBAI (Reuters) – Citi (N:) and Deutsche Bank (DE:) have started talks with other banks to sell roughly $9 billion in debt Dubai raised to take full control of DP World (DI:) and refinance borrowings of Dubai World, sources familiar with the matter saidRead More →
The biggest U.S. dairy farming cooperative struck a $425 million deal to buy dozens of plants from bankrupt milk processor Dean Foods Co., in a deal executives said would preserve jobs and markets for farmers’ milk. The deal, which was proposed by Dairy Farmers of America, requires approval of theRead More →
In September 2017, when the Trump Administration began promoting the idea of tax cut legislation, I wrote a series of articles discussing the fallacy that tax cuts would lead to higher tax collections, and a reduction in the deficit. To wit: “Given today’s record-high levels of debt, the country cannotRead More →
The human mind often works in fascinating ways that can help or hurt investors. If someone has to deliberately take action in order to participate in something, they are far less likely to do so than if they were signed up automatically with the option of not participating. This opt-in/opt-outRead More →
As the COVID-19 spreads and the patient count and death toll grow, economists are slashing their once-rosy expectations for global growth in 2020. But amid the anxiety, there’s one bright spot in the U.S. that is likely to be immune from the virus fallout. Analysts say the housing market isn’tRead More →
U.S. Treasury yields traded higher on Tuesday as reports that the spread of COVID-19 may be slowing down helped to cheapen prices for government paper, drawing investors to the Treasury Department debt auction in the afternoon. Federal Reserve Chairman Jerome Powell testified in front of the House Financial Services Committee,Read More →
The U.S. central bank should keep its benchmark interest rate unchanged for the time being, as growth is in a good place and inflation should hit the central bank’s 2% annual target, two Federal Reserve officials said Monday. “My own view right now is that we should hold steady forRead More →
© Reuters. Abu Dhabi in talks with banks for new debt issues: sources By Davide Barbuscia and Yousef Saba DUBAI (Reuters) – Abu Dhabi has been in talks with banks for potential debt sales in the international markets this year as the oil-rich emirate plans to engage global fixed incomeRead More →
U.S. Treasury yields fell Thursday, extending their week long drop, as growing concerns about the coronavirus epidemic and the prospect for the World Health Organization to declare it a global emergency kept haven assets in demand. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, -0.81% was downRead More →
When interest rates are so low for so long, strange things begin to happen, New York Times’ bestselling author, former M&A investment banker, and long-time financial journalist William Cohan told Real Vision’s The Interview. In his view, people have been taking risks trying to find higher rewards than they canRead More →
Fears around China’s ability to contain a deadly coronavirus outbreak have given the U.S. junk-bond market its first major test of the year. Laredo Petroleum Inc. LPI, +2.21% and Range Resources Corp. RRC, +3.61% were two energy companies in January from a deluge of U.S. businesses that raced toRead More →
Dear Moneyist, I married a guy that lied about his debt. Now he is trying to divorce me. I did try to get an annulment after I found out, but I was denied. He said he wanted to marry me to give me his survivor benefits. When I didn’t accept,Read More →
Getty Images/iStockphoto The U.S. economy is still adding jobs and layoffs remain near a 50-year low. The numbers: The number of Americans who applied for unemployment benefits in mid-January rose slightly, but layoffs remain near a 50-year low and there’s no sign of deterioration in the strongest U.S. labor marketRead More →
Nobody expects any policy changes when European Central Bank big shots meet Thursday, but Christine Lagarde could still drop some worthwhile hints about the path ahead. Indeed, economists at Bank of America contend market participants have largely ignored relatively hawkish minutes from the ECB’s December meeting, which showed worries amongRead More →
