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The threat from a looming wave of maturing commercial real estate loans has been well telegraphed to investors, but it's possible the metrics they are using to protect themselves from risk are flawed. Many investors have been avoiding bank stocks with high concentrations of commercial real estate (CRE) exposure. Investors have been punishing regional bank stocks, especially when the bank's commercial real estate exposure tops more than 300% of its total equity . While the latter two have some exposure to New York City real estate, both banks benefit from strong management teams, he said. (New York real estate markets are navigating both falling office values as well as the dynamics of rent-regulated multifamily properties.)
Persons: Erika Najarian, Stephens, Matt Breese, Breese, Webster, Najarian, Piper Sandler, Scott Siefers, Siefers, generalists Organizations: Owners, KBW, Regional Banking, UBS, Federal Deposit Insurance Corp, Federal Reserve, Kansas City Fed, NBT Bancorp, Webster, National Bancorp, Micron Technology, Financial Group, Citizens Locations: New York City, York, . Connecticut, New, New York, Providence, R.I
Wall Street's best analysts have insight into companies' ability to provide attractive dividend yield and upside for the long term. Here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. With a quarterly dividend of $1.22 per share ($4.88 on an annualized basis), KMB offers a dividend yield of 3.5%. In June, the company paid a base dividend of $1.25 per share and a variable dividend of $1.69 per share. (See Chord Energy Stock Charts on TipRanks)Cisco SystemsOur third pick is dividend-paying technology stock Cisco Systems (CSCO).
Persons: Wall Street's, Wall, Kimberly, Clark, Nik Modi, Modi, Mike Hsu, TipRanks, William Janela, Janela, Jefferies, George Notter, Notter Organizations: Cisco, Clark Consumer, KMB, RBC Capital, Energy, Enerplus, Cisco Systems Locations: San Jose , California, Kimberly, North America, Williston
Insider Today: Meta's manager squeeze
  + stars: | 2024-06-16 | by ( Matt Turner | ) www.businessinsider.com   time to read: +5 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Apple announced Apple Intelligence at WWDC 2024. CEO Tim Cook unveiled Apple Intelligence, a generative AI system partly powered by ChatGPT (for now). Assuming Apple Intelligence works as intended, there will be even more reason to switch to or stay with Apple. Add it all together, and, as Linette Lopez writes, Apple may be the one Big Tech company getting AI right.
Persons: , there's, Jimmy Donaldson, Justin Sullivan, Apple, Tim Cook, Katie Notopoulos, OpenAI, Linette Lopez, Alyssa Powell, Fitch, it's, Abercrombie, Mark Zuckerberg, Michel Shvo Patrick McMullan, Chelsea Jia Feng, Michael Shvo, Shvo, he's, Grace J, Kim, Gen Zers, There's, isn't, Z Organizations: Service, Business, Apple, Apple Intelligence, Google, Microsoft, Big Tech, Getty, Abercrombie, Fitch, GameStop Locations: cologne, New York City
The three-day holiday of Eid-al-Adha commemorates the story in the Quran of God appearing to Ibrahim, or Abraham, in a dream and commanding him to sacrifice his son as an act of obedience. Muslims believe that as Abraham was about to sacrifice his son, an angel of God stopped him and gave him a ram to sacrifice in place of his son. Many people kick off the holiday by calling and texting Muslims they know throughout the world with “Eid Mubarak,” which means blessed feast or festival. Here are some mindful takeaways from the Eid holiday that you can include in your routine – no matter what you believe in. It sounds like a miraculous happening, but when applied to daily life, one can view it as doing one’s work and trusting that things fall into place.
Persons: Ibrahim, Abraham, God, “ Eid Mubarak, Abraham’s, Yasmine Saad, , Rania Awaad, Gabriel Reynolds, ” Reynolds, Eid, Prophet Abraham's, Ismail, Babu Babu, , doesn’t, ” Saad, Jes Aznar, Getty, David Spiegel, “ we’ve, , Awaad Organizations: CNN, Stanford Muslim Mental Health, Islamic Psychology, Islamic Studies, University of Notre Dame, Stress, Health, Stanford Medicine Locations: Saudi Arabia, Mecca, Islam, New York City, Chennai, India, Mamasapano, Central Mindanao, Philippines
US large-cap tech stocks have driven market gains, with the S&P 500 up 14% this year. Small-cap stocks may recover in late 2024 with Federal Open Market Committee rate cuts. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS large-cap stocks, especially tech-heavy ones, have carried the bulk of the stock market's gains so far this year. The Magnificent Seven pulled up the S&P 500, which has seen more than a 14% gain this year.
Persons: Organizations: Open, Service, Nasdaq, Business
CNN —Wout Weghorst scored less than two minutes after coming on as a substitute to earn the Netherlands an important 2-1 win in the opening game of Group D at Euro 2024. It was a closer game than perhaps many would have expected and Poland caused the Oranje problems throughout, in particular in the second half. It was another huge international goal for Weghorst, who stunned Argentina at the World Cup in 2022 with a late equalizer in the quarterfinals, as the Netherlands next face the tough test of France. After a dominant start from the Netherlands, Poland snatched the lead against the run of play through Buksa’s brilliant near-post header from Piotr Zielinski’s whipped corner. However, the Netherlands soon got the goal its early dominance deserved as Gakpo’s effort from outside the area took a fortuitous deflection and wrong-footed Szczęsny in the Poland goal.
Persons: Wout Weghorst, Adam Buksa’s, Cody Gakpo’s, Wojciech Szczęsny, Robert Lewandowski, Weghorst, Piotr Zielinski’s, Lewandowski, Memphis Depay, Gakpo, profligacy, Nathan Ake’s Organizations: CNN, Austria, Memphis Locations: Netherlands, Poland, Oranje, Argentina, France
McDonald's is removing its Automated Order Taker technology from over 100 restaurants. Videos showing flaws with the technology at McDonald's drive-thrus went viral in 2023. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . McDonald's told franchise operators on Thursday that it is removing AI order-taking technology from over 100 drive-thrus, marking the end of a test period conducted with IBM. This story is available exclusively to Business Insider subscribers.
Persons: , McDonald's Organizations: IBM, Service, Business
"Inside Out 2" debuted with an estimated $155 million domestically, the second-highest theatrical opening of an animated film and the first film since Warner Bros.' "Barbie" to top $100 million during its debut. Of note, Disney does not consider its 2019 live-action remake of "The Lion King," which generated $191.7 million during its debut, an animation film. "Let's issue a collective 'welcome back' to Disney, Pixar, and the summer box office," said Shawn Robbins, founder and owner of Box Office Theory." Typically, these films average $100 million to $200 million openings, with 2019's "Avengers: Endgame" hitting a record $357.1 million. It boasts the biggest domestic debut of 2024, surpassing "Dune: Part Two" and its $82.5 million in opening weekend ticket sales.
Persons: King, Shawn Robbins, Robbins, Paul Dergarabedian, Guy, Comscore's Dergarabedian, Disney, Hunter Organizations: Disney, Pixar, Warner Bros, Walt Disney Animation, Marvel, Labor, Comcast, CNBC Locations: North America, Comscore, NBCUniversal
The porn videos had titles like "Juicy Anniversary" and "Bedroom Shenanigans." In search of a man for Wilson, Gow sought advice from his therapist, who suggested joining a swingers club. In the background, Video Gow is moaning "Oh yeah" as IRL Gow says, "I've always had some ED issues." As the video ends with the big finale — the money shot, as it's known in the industry — Video Gow stands above kneeling Video Wilson, arms outstretched. The termination letter said he had failed to properly report his income from the porn videos and had violated "prohibitions for using one's public position for private benefit."
Persons: Joe Gow, Carmen Wilson, Gow, isn't, " Gow, Wilson, Bruce Springsteen, we've, It's, I'm, Simone Lueck, BI Gow, hadn't, Wilson's, Nina Hartley, Danny Mountain, who'd, We've, Cal Berkeley, Lauren Phillips, Phillips, mischievously, We’ll, We'll, Barack Obama, Geri, Jay Hart, IRL Gow, I've, she'd, Barack Obama's, Hartley, Raymond Cross, Cross, Hartley dustup, Stills, , Tony Tomich, Moberg doesn't, Gow's, demurely, Starr, Socrates, Eugene Volokh, Roe, Diane, wouldn't, aren't, They've, Wilson wouldn't, Hallie Lieberman, She's Organizations: University of Wisconsin, selfies, CNN, The, BI, UW, La, Sony, Higher, MIT, USC, Cal, Dickinson State University, Food Network, IRL, Dartmouth, La Crosse Tribune, La Crosse, University of, FTI Consulting, Easton Moberg, Press, Stanford, Court, eBay, Sssh.com Locations: La Crosse, London, India, Gaza, Gow, Rock, San Francisco, Wisconsin, Chicago, Los Angeles, North Dakota, Arizona, Communist China, City, San Diego
Here's what five forecasters have to say about the latest rally — and why they think the stock market is headed for a fall. In 2009, he wrote a book predicting a stock market crash and ensuing economic depression, which he said could last for 10 years or more. The research firm is predicting the S&P 500 could see a steep correction following a rally to 6,500. Yet, that could end up being an excellent opportunity for investors who are diversified in other areas of the market, Bernstein said. AdvertisementTypically, there are eight warning signs of a market bubble forming, and six of them have already flashed, the bank said.
Persons: Stocks, , haven't, Harry Dent Stocks, Harry Dent, Dent, John Higgins, Higgins, John Hussman, Hussman, Richard Bernstein, Bernstein Organizations: Service, Nasdaq, Apple, Nvidia, Fox Business Network, Stocks, Capital Economics, John Hussman Elite, UBS
Why tariffs on Chinese EVs may not work
  + stars: | 2024-06-15 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +2 min
The Chinese auto sector is increasingly making global automakers and politicians hot under the collar. In the early 1980s, the Chinese auto industry barely existed. President Joe Biden last month introduced stiff tariffs on Chinese EVs, effectively doubling the list price, which can otherwise be as cheap as $11,500. The administration says Chinese firms have benefited from unfair government support, and Chinese EV imports threaten the Biden administration's big investments in EVs. But a few auto industry insiders are skeptical that tariffs will be able to hold off Chinese imports for long.
Persons: Dunne, Michael Dunne, Joe Biden, Sen, Sherrod Brown, Tesla, Elon Musk, Bill Russo, Donald Trump, Russo Organizations: Volvo, EV, Biden, Chrysler Locations: China, U.S, Sweden, EVs, Ohio, Shanghai, Beijing
CNN —A truism of American politics is that older voters prefer the Republican and younger voters prefer the Democrat. In 2012, Republican Mitt Romney lost the election, but he did better than Democrat Barack Obama among voters 45 and older. Older voters are gravitating to Biden, and younger voters are taking a look at Trump. But older voters have gone in the opposite direction, and instead of favoring Trump, are nearly split in the Marist poll. Despite the shift of older voters in the direction of Biden (and younger voters away from him), I was surprised to see older voters still have reservations about Biden’s age.
Persons: Democrat Joe Biden, Republican Donald Trump, , Trump, Hillary Clinton, Clinton, Republican Mitt Romney, Barack Obama, haven’t, George H.W, Bush, Michael Dukakis, Al Gore, Republican George W, gravitating, Biden, “ Joe isn’t, , Jill Biden, CNN’s Jeff Zeleny, Eric Bradner, Bradner, Linda Van, , I’d, Ronald Brownstein Organizations: CNN, Democrat, Republican, Electoral, Voters, Trump, Marist, Quinnipiac University, New York Times, Siena College Locations: Pennsylvania, Wisconsin, Michigan,
Dylan Holloway added two goals for the Oilers, and Mattias Janmark, Adam Henrique, Darnell Nurse, Ryan Nugent-Hopkins and Ryan McLeod had the others. Instead, the Oilers became the fourth team in a row to win Game 4 to extend a series after dropping the first three games of a Stanley Cup Final. “It only counts as one win,” Panthers captain Aleksander Barkov said. He was in on all three goals the Oilers had in the middle frame, scoring once and adding two assists. Leon Draisaitl, Hyman and Nugent-Hopkins were all pointless — a big reason the Oilers were in their gigantic hole.
Persons: Connor McDavid, Yogi Berra, “ it’s, McDavid, Wayne Gretzky’s, Dylan Holloway, Mattias Janmark, Adam Henrique, Darnell Nurse, Ryan Nugent, Hopkins, Ryan McLeod, Stuart Skinner, Doug Gilmour’s, Evgeni Malkin, Vladimir Tarasenko, Aleksander Barkov, Conn Smythe, yY2beIXAwx — Michael Russo, Bob, Sergei Bobrovsky, Anthony Stolarz, Bobrovsky, Holloway, Zach Hyman, , ” Darnell Nurse, eason, ince, enrique, tim e, nic, ove Organizations: EDMONTON —, Edmonton Oilers, ” Edmonton, Florida Panthers, Rogers, Wayne Gretzky’s NHL, Oilers, Panthers, Edmonton, Montreal Canadiens, New York Rangers, New Jersey Devils, ” Panthers, Boston Bruins, Eastern Conference, ” Oilers, ust, pla Locations: South Florida, goa
Software stocks have been slammed this year after a long period of strong performance. Meanwhile, hardware stocks are reaping the benefits of the AI boom as their profits soar. AdvertisementYear-to-date, hardware tech stocks are outperforming software tech stocks by a whopping 30 percentage points. AdvertisementThis dynamic means that hardware stocks will continue to outperform software stocks through 2025, according to Mortonson. "The moats that some of the software companies, not all but some, have around their businesses are not going to be quite as high.
Persons: Ted Mortonson, , Baird, Mortonson, It's, Larry Tentarelli, Chip, Steve Eisman, Eisman Organizations: Service, Software, NYSE Arca, Dow Jones US Software, Nvidia, AMD, Micro Computer, Broadcom, Dell, Chip Daily, CNBC Locations: Salesforce, Snowflake
Representatives from the warring nations held peace talks in the early weeks of the Russian invasion. It was the only time that Ukrainian and Russian officials are known to have engaged in direct peace talks. This includes the Crimean Peninsula, which Mr. Putin annexed in 2014 in a swift operation that he considers central to his legacy. At another point, Russia’s lead negotiator, Mr. Medinsky, interrupted a video conference by claiming that Mr. Putin was phoning him directly. There were signs that Mr. Putin was micromanaging not only the Russian invasion but also the peace talks.
Persons: Vladimir V, Putin, , Putin’s, … ”, , Oleksandr Chalyi, Mr, Vladimir Medinsky, Oleksii Reznikov, Vladimir Putin, Leonid Slutsky, Medinsky, , Aleksandr Fomin, Reznikov, Ukraine’s, … “, Sergey Ponomarev, Ukraine —, Andrzej Duda, Duda, Putin “, Recep Tayyip Erdogan, Murat Cetin Muhurdar, Russia’s, Zelensky, , , , Daniel Berehulak, Davyd Arakhamia, ” “, Roman Abramovich, ” Mr, Arakhamia, Abramovich, micromanaging, Nanna Heitmann, France —, Laetitia Vancon, Kamala Harris, Volodymyr Zelensky, “ Putin, Marc Weller, Russia “, Weller Organizations: The New York Times, Ukraine, Kremlin, NATO, , Russian Federation, , European Union, West, Ministry, Times, Europe’s, Russian, Moscow, Donetsk People's, Nazi, U.S, Ukrainian, Turkish Presidential Press Service, Agence France, The Times, Russia, New York Times, stoke, Cambridge Locations: Ukraine, Russia, Moscow, Kyiv, Crimean, Switzerland, Ukrainian, Crimea, “ Ukraine, Republic of Crimea, Sevastopol, , … ” Russia, Russian, ” Russia, Istanbul, Geneva, Belarus, Western, Russia’s, Donetsk, Donetsk People's Republic, Luhansk People's Republic, Simferopol, Poland, Germany, France, European, Brussels, Turkish, Zelensky, , Great Britain, China, United States, Turkey, Canada, Italy, Israel, Bucha, Washington, Swiss, Russians
Just about 41 miles north of Dallas lies Celina, a small North Texas town that is America's fastest-growing city. Downtown Celina, Texas. Their metamorphosis into sprawling suburban metropolises has been greatly influenced by the ongoing expansion of the North Texas Tollway, which has increased accessibility to the previously remote cities. AdvertisementNew businesses are moving into the cityWith more people living in the city, Celina's economy is also growing as local businesses and services benefit from increased demand. However, Joe Monaco, director of marketing and communications for the city of Celina, told BI that there were "countless volunteers who came out."
Persons: There's, Katy, Ryan Tubbs, Celina, Celina Alcynna Lloyd, Taylor Morrison, Toll, Tubbs, Bankrate, Casas, Aaron Graham, Graham, They're, Tracy Miller, Celina —, Miller, Alcynna Lloyd, , Sandy Lewis, It's, Celina ., Joe Monaco Organizations: Business, Downtown, Houston, homebuying, North Texas Tollway, Tollway, North Texas Tollway Authority, Celina, Highland Homes, Texans, Homes, Olympic, JC, Real, Group, Mustang, Highland, Little Elm, Troubadour, Celina's, Centurion American Development Group, Dallas, WFAA Locations: Dallas, Celina, North Texas, Collin County, Texas, California, Florida, Georgia , Illinois, Missouri, Africa, Asia, Central America, Europe, Downtown Celina , Texas, Celina Texas, United States, Austin, Celina , New Braunfels, Prosper, Frisco, Plano, Frisco ., Highland, Celina —, Wilson Creek, Cambridge, East Coasts, New York
Components of the Dwight D. Eisenhower Carrier Group steam in formation with the Italian navy in the Red Sea on June 7. A fighter jet parks on the deck of the USS Dwight D. Eisenhower in the Red Sea on June 11. Elements of the Eisenhower strike group have already left the Red Sea once to be rearmed and resupplied, and the Pentagon recently extended its monthslong deployment for a second time. A fighter jet is launched from the USS Dwight D. Eisenhower during a strike against Houthi military targets in Yemen on Feb. 3. A commercial ship in the Red Sea in March.
Persons: , they've, Dwight D, Navy Carlos Del Toro, What's, Eisenhower, Bernat, National Intelligence Avril Haines, Joseph Votel, John Kirby, Jorge LeBaron, Haines, Biden, Brian Finucane, Finucane, Votel, Mohammed Hamoud, That's, Nadimi Organizations: Service, US Navy, Business, Washington, Eisenhower Carrier Group, Eisenhower Carrier Strike, Ike, Navy, Pentagon, US Central Command, AP, National Intelligence, White House National Security Council, BI, Handout, US, Crisis, US State Department, Screengrab, Ministry of Defense, Defense Intelligence Agency, Galaxy Leader, The Washington Institute for Near East Locations: Gulf of Aden, Yemen, Saudi Arabia, Israel, Western, Africa, Gaza, Persian, Bab, Red
Investors worried about concentration risk in the market may want to consider value-oriented investments. Avantis' U.S. Large Cap Value ETF (AVLV) tracks the Russell 1000 Value index, but with a caveat — the fund managers screen stocks using a profitability overlay. After Apple and Meta , the Large Cap Value fund's next-largest holdings are JPMorgan , Costco and Exxon Mobil , according to FactSet. Avantis' Large Cap Value ETF is up 7.7% in 2024, as of Friday's market close. The Russell 1000 Value index gained 4.5% during the same period.
Persons: Phil McInnis, CNBC's, McInnis Organizations: Avantis Investors, Apple, Meta, JPMorgan, Costco, Exxon Mobil, Financial
CNN —Host Germany kicked off Euro 2024 in spectacular fashion on Friday, hammering 10-man Scotland 5-1 in Munich to record the biggest opening match victory in European Championship history. Antonio Rüdiger’s own goal in the 87th minute was nothing more than a consolation but gave the Scotland fans a moment to remember on a difficult night. Germany didn’t allow Scotland fans much time to enjoy their moment as Can, who was a late callup following youngster Aleksandar Pavlović’s injury, found the bottom corner from the edge of the area. The thumping win will be a considerable boost to a team that didn’t come into its home tournament with high expectations. It was a brutal opening night for Scotland fans.
Persons: Florian Wirtz, Jamal Musiala, Kai Havertz, Niclas Füllkrug, Emre, Antonio Rüdiger’s, Ryan Porteous, Germany couldn’t, , Julian Nagelsmann, Wirtz, Angus Gunn, Kai Pfaffenbach, Ryan Christie’s, Porteous, Scott McKenna, Andy Robertson’s, Aleksandar Pavlović’s, didn’t, Hansi Flick, Jeff J Mitchell, hasn’t, Philipp Lahm Organizations: CNN, Scotland, Tartan Army, ITV, Bundesliga, Bayer Leverkusen, Reuters, Allianz Arena, Getty, Costa Locations: Munich, Hungary, Switzerland, Germany, Havertz, Scotland, Musiala, Nagelsmann, Costa Rica
El Niño Is Over. What Does That Mean for Summer?
  + stars: | 2024-06-14 | by ( Austyn Gaffney | ) www.nytimes.com   time to read: +1 min
El Niño, the natural climate pattern linked to warmer conditions in the tropical Pacific Ocean, has ended, the National Oceanic and Atmospheric Administration announced on Thursday. The counterpart pattern known as La Niña, defined by cooler equatorial sea surface temperatures, is expected to develop soon. A strong El Niño has cycled through the atmosphere since last June, leading to a wetter than normal winter, especially in the Southeast and in California, where a mind-boggling 51 atmospheric rivers dumped rain and snow. That’s because, while El Niño conditions can rip apart storms that develop in the Atlantic Basin, hurricanes and tropical cyclones are more likely to form under La Niña. Calm conditions produced by La Niña combined with warm ocean temperatures will intensify the activity likely to occur during hurricane season.
Persons: El Niño, La Niña Organizations: National Oceanic, Atmospheric Administration, La Locations: California, El
MicroStrategy can run another 80% from here thanks to its aggressive bitcoin buying strategy, according to Bernstein. "Since August 2020, MSTR has transformed from a small software company to the largest bitcoin holding company, owning 1.1% of world's Bitcoin supply worth ~$14.5Bn," Bernstein analyst Gautam Chhugani said in a note. "MSTR's founder chairman, Michael Saylor has become synonymous with brand bitcoin and has positioned MSTR as a leading bitcoin company, attracting at-scale capital (both debt and equity) for an active bitcoin acquisition strategy." "MSTR positions itself as an 'active-leveraged' bitcoin strategy vs. passive spot ETFs," Chhugani said. … On a dollar basis, MSTR's Bitcoin $ NAV per share has grown ~4-fold beating ~2.4x growth in bitcoin spot price."
Persons: Bernstein, MicroStrategy, MSTR, Gautam Chhugani, MSTR's, Michael Saylor, Chhugani, — CNBC's Michael Bloom Organizations: BTC
Brazil’s Pantanal, the largest tropical wetland on earth, is ablaze, with fires in June breaking historical records for that month. Brazil’s National Institute of Space Research (INPE) has detected 733 fires in the Pantanal biome so far this month, with the previous record for fires in Pantanal for June being 435 registered in 2005. A view of a burnt monkey amongst the burnt vegetation in the Pantanal, the world's largest wetland, in Corumba, Mato Grosso do Sul state, Brazil, June 11, 2024. This seasonal flooding makes the Pantanal a unique biome where large swaths of land regularly turn from terrestrial into aquatic habitats and back again. In 2020, the fires destroyed unique habitats and wrecked the livelihoods of many of the Pantanal’s diverse indigenous communities.
Persons: Brazil’s Pantanal, Cynthia Santos, Ueslei Marcelino, , Andre Luiz Siqueira, It’s, ECOA, , Ivana Kottasová, Henrik Pettersson, Krystina Organizations: Reuters, Brazil’s National Institute of Space Research, National Meteorological Institute, Wildlife Foundation, WWF Brazil, Fund, Nature, World Wildlife Fund, CNN Locations: Pantanal, Mato Grosso, Sul, Brazil, Corumba, Wetlands, Canada, South America, Brazilian
The Conversation —In September 2023, several people came down with dengue fever in Paris, France. Aedes has spread considerably further than in 2016, and the number of dengue cases worldwide has increased dramatically in the same period. For the Paris Olympics to become a super-spreader event, several factors must overlap. Most dengue cases are asymptomatic. At the Rio Carnival this year, a dengue outbreak just days before the event led to a public health emergency being called, but the event wasn’t cancelled.
Persons: Mary ”, Mary Mallon, Dr, Sanjay Gupta Organizations: CNN, Tokyo Olympics, Paris Olympics, Olympics, CNN Health Locations: Paris, France, Europe, COVID, Hunan Province, China, Peru, Brazil, Africa, Aedes
High interest rates have been a boon to Americans holding cash, but many on Wall Street are cautioning investors to start thinking ahead. People have been piling into cash vehicles like money market funds and certificates of deposit since the Federal Reserve started hiking interest rates. Interest rates appear to be staying higher for longer, with the Federal Reserve on Wednesday projecting only one rate cut this year. Agency MBS have a duration of about six years, per the Bloomberg US MBS Index as of June 3, Jones noted. Right now, the residential mortgage-backed securities sector looks attractive because of its relative value compared to investment-grade corporate bonds, he said.
Persons: Jones, Leslie Falconio, Fannie Mae, Freddie Mac, Ginnie Mae, Wells Fargo, Luis Alvarado, Alvarado, Falconio Organizations: Federal Reserve, Investment Company Institute, Schwab Center, Financial Research, Agency MBS, Bloomberg, MBS, UBS, Wells, Wells Fargo Investment Institute, Investors, corporates, UBS America's, AAA Locations: UBS Americas, Wells, Wells Fargo
Guests posing for a group photo at the "Let's Go the Extra Mile" hospitality campaign launch ceremony at the Central Government Office in Hong Kong on June 3, 2024. In response, the Hong Kong government launched a campaign – titled "Let's Go the Extra Mile" – encouraging frontline staff and members of the public to demonstrate good hospitality and "reinforce Hong Kong's brand as the best tourism destination." Hong Kong's currency is pegged to the U.S. dollar, which has helped the city's status as an international financial center. "Both have become equal problems for Hong Kong," he said. While the city's borders were closed during the pandemic, nearby Shenzhen continued to develop into a top-tier Chinese city, Lee said.
Persons: Long, John Lee, Hong Kongers, Allan Zeman, Lan, Kwai, Zeman, mainlanders, Simon Lee Siu, Lee Organizations: Central Government Office, Nurphoto, Getty, Hong, Lan Kwai Fong Group, U.S ., U.S, Sports, Tourism Bureau, HK, Pacific Institute of Business, Chinese University of Hong, Shenzhen Locations: Hong Kong, Shenzhen, Hong, Japan, Asia, Chinese University of Hong Kong
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