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☆ How you could be impacted by higher bank capital requirements
▼ + stars: | 2023-07-27 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

Their risk-level assessments have been the basis for informing how much capital they need to hold on top of baseline requirements. Silicon Valley Bank accumulated a lot of paper losses, or unrealized losses, from holding bonds while the Fed hiked interest rates. But it did not need to hold capital to protect depositors from those losses. Some also expressed concerns that banks would pass on their higher capital costs to consumers in the form of higher fees to maintain their profit levels. However, UBS, Citizens Bank and Capital One will have to hold more capital.

Persons: wouldn’t, ”, Banks, aren’t, Steven Kelly, won’t, SVB, Jonathan McKernan, Michelle Bowman, Kelly, ” Kelly, JPMorgan Chase, Morgan Stanley Organizations: New, New York CNN, Federal Reserve, Federal Deposit Insurance Corporation, Huntington Bank, Silicon Valley Bank, Signature Bank, Valley Bank, FDIC, ”, Manufacturers, JPMorgan, JPMorgan Chase, Bank of America, UBS, Citizens Bank, Capital, Nasdaq Locations: New York, Basel, Banc, California, Silicon

☆ Jobs Sit Empty in the Public Sector, So Unions Pitch In to Recruit
▼ + stars: | 2023-07-27 | by ( Lydia Depillis | More About Lydia Depillis | ) www.nytimes.com time to read: +2 min

At the same time, the federal infrastructure bill is supercharging demand for people to manage construction projects. That’s a victory for labor unions, which typically push for more hiring, higher wages and better benefits. In Minnesota, the vacancy rate for state government jobs rose to 11.5 percent in the 2023 fiscal year from 7.5 percent in 2019. “They understand that services are not being provided at the level that they should be provided. It’s a team effort as far as bringing fresh blood into the public service.”That was the point of the hiring fair in Minneapolis.

Persons: ”, Lee Saunders, “, It’s Organizations: American Federation of State, Municipal Employees Locations: Minnesota, American Federation of State , County, Minneapolis

☆ Opinion | Justices Ignoring the ‘Scent of Impropriety’
▼ + stars: | 2023-07-27 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “What Smells Off at the Court?,” by Michael Ponsor (Opinion guest essay, July 16):Judge Ponsor’s bewilderment at the loss of olfaction on the Supreme Court is spot on. As he explained, it isn’t that hard for a judge to catch even a faint whiff of the scent of impropriety. And you don’t have to be a federal judge to smell it. Another time, a company hoping to build a development on a Superfund site hosted a presentation for federal and municipal officials. The company’s spokesperson presented each city official with a goodie bag filled with stuff like baseball caps bearing the project’s name.

Persons: Michael Ponsor, Ponsor’s bewilderment Organizations: Justice Department

☆ How Russia’s youth see their lives and their future
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +5 min

Some spoke of study plans and jobs upended, others, of fear of an unknown and unpredictable future. But none of the four said there was much they could do to influence Russia's direction. Instead, as one young man put it, there was nothing to do but adjust to a new reality and "carry on." I plan to study a master's course in China…I think they are very interesting people, an interesting nation. I can't change and fix everything in the country, so I'm forced to come to terms with it, get used to it, and move forward.

Persons: Vladimir Putin, Sabina, Maxim Lukyanenko, let's, Konstantin Konkov, on.Ivan Sokolov, William Maclean Organizations: Kremlin, Moscow's Higher, of Economics, Higher School of Economics, Moscow State University, Reuters, Thomson Locations: MOSCOW, Russian, Ukraine, Russia, Abkhazia, Georgia, universit, Finland, Krasnodar, Europe, Asia, China, Moscow, Kazakhstan, Astrakhan, Atyrau

Global Head of Fixed Income Group Sara Devereux said on Thursday the probability of another interest rate increase by the Fed this year stood at 50%. Beyond that, the U.S. central bank was likely to maintain a "hawkish hold" on rates. "We don't think they're going to cut rates anytime soon ... the Fed may have more work to do." Vanguard, which manages $8 trillion in assets, said its base case scenario remained for a shallow recession in 2024 as higher interest rates hit the economy. "The downside risk ... is the Fed overshoots and they drive us into a deeper recession."

Persons: Sara Devereux, Jerome Powell, Devereux, Davide Barbuscia, Matthew Lewis Organizations: YORK, Vanguard, Reserve, Thomson Locations: U.S, New York

“I don’t necessarily need a higher paid job or a better life,” she added. College graduates looking for jobs at a fair in central China's Hubei province on July 20. A growing trendOn Douban, about 4,000 members of a group called “full-time children’s work communication center” discuss topics related to their daily “working” lives. By contrast, today’s “professional” children spend time with parents and do housework in exchange for financial support. In addition to her family duties, she’s busy applying for government jobs and taking exams for graduate school.

Persons: Litsky Li, Li, ”, “, headwinds, Zhang Dandan, ” hashtag, somethings, today’s, ’, Fang Xu, Nancy Chen, she’s, Chen, hasn’t, It’s, George Magnus, Magnus Organizations: Hong Kong CNN, College, CNN, Peking University, University of California, China News Service, Harvard University, China Centre, Oxford University, SOAS University of London Locations: Hong Kong, Luoyang, China's Hubei, Beijing, ”, China, University of California Berkeley, Jiangxi, Wanshou, China's Jiangxi

FRANKFURT/LONDON, July 26 (Reuters) - German industry is finding new ways to transport cargoes from coal to chemicals as increasingly frequent low water levels on the Rhine disrupt Europe's largest economy. At Kaub , the critical chokepoint for Rhine barges, water levels fell to their lowest this year earlier this week. ARTERY OF THE ECONOMYThe impact of low water levels is not limited to big business. But logistics firms are benefiting from rising demand for vessels adapted to lower river levels. "We expect, due to climate change, that the extremes on the river Rhine will happen more often," said Maickel Uijtewaal, general manager at Stolt-Nielsen (SNI.OL).

Persons: Uwe Arndt, Barbara Hoyer, majeure, Roberto Spranzi, Maickel Uijtewaal, Steffen Bauer, Christoph Steitz, Vera Eckert, Ludwig Burger, Patricia Weiss, Rene Wagner, Nette, Tom Kaeckenhoff, Matthias Inverardi, Vincent Flasseur, Barbara Lewis Organizations: Federal Waterways, Shipping Agency, Reuters Graphics, Cologne, BASF, Reuters Graphics Reuters, Kiel Institute, Deutsche Bank, Reuters, Stolt, Nielsen, HGK Shipping, Daniels, Midland Co, Chemicals, Thomson Locations: FRANKFURT, LONDON, Kaub, Europe, Reuters Graphics Germany, Ludwigshafen, HGK, Frankfurt, Berlin, Duesseldorf, London

☆ Boeing's quarterly results top expectations as airplane deliveries pick up pace
▼ + stars: | 2023-07-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing 's second-quarter results topped analyst expectations thanks to a pickup in commercial aircraft deliveries as the manufacturer increases production. Here's how the company performed during the period ended June 30, compared with Refinitiv consensus estimatesAdjusted loss per share: 82 cents vs. 88 cents. 82 cents vs. 88 cents. On an adjusted basis, the company reported a loss of $390 million, or 82 cents per share. Boeing's defense, space and security unit reported a loss of $527 million for the quarter, down from a profit a year ago.

Persons: Dave Calhoun, Boeing's Organizations: Boeing, Max, Renton Municipal Airport, Airbus Locations: Renton, Renton , Washington

☆ Why Cities Across the US Look the Same: Remote Work, High Home Prices
▼ + stars: | 2023-07-25 | by ( David A. Banks | ) www.businessinsider.com time to read: +15 min

The shift to remote work early in the pandemic allowed wealthy residents to ditch big cities in droves and set up shop in smaller cities and towns nearby. While the surging costs of housing and the new freedom of remote work helped trigger this mass migration, small cities have been laying the groundwork over the last decade to entice these big-city refugees. Then came the pandemic, and remote work suddenly made small cities a viable home for wealthy professionals. For the past two decades, cities have turned to an economic development strategy I've deemed "the city authentic." It spiked even more during the pandemic when change of addresses from New York City jumped a whopping 787%.

Persons: Tim Burton, —, Richard Florida, millennials, DAVID BREWSTER, downtowns, weathers, It's, Alison Roman, Chrissy Teigen, it's, restaurateurs, John Greim, Instagramable cafés, David A, Banks Organizations: Urban, New York Times, Creative, The New York Times, Industrial Development Agency, IDA, Arts, Craft, Fulton, Star Tribune, Getty, Social, Business, New York City, Neighborhood Initiative, Globalization Studies, University, Albany SUNY, UUP Locations: America, Hudson, New York City, Austin , Texas, Charlotte, North Carolina, Denver , Minneapolis, Salt Lake City, Dallas, Louisville, Connecticut, Florida, Washington, Fulton, New York, Athens, Georgia, Tulsa , Oklahoma, Arts District, Saint Paul , Minnesota, , New York, Rensselaer, Troy, Rensselaer County, Newark , New Jersey, Dudley, Boston

BEIJING, July 24 (Reuters) - China is struggling to revive foreign investment in its financially battered cities and provinces as foreign firms remain wary of political risks and new incentives fall far short of sweeteners once used to attract overseas money. With their coffers depleted after an economically bruising pandemic and property crisis, local authorities have been racing to find new revenue sources, with foreign investment particularly coveted. He cited five meetings between their London office and delegations from Chinese local governments in late June. PART OF THE SYSTEMLocal authorities carry out a delicate balancing act when courting foreign investment and dealing with critical questions about Xi's security policies. "As far as the macro situation is concerned, local governments can't do anything to reassure foreign investors.

Persons: Premier Li Qiang, Kiran Patel, Xi Jinping's, Noah Fraser, it's, Li Qiang, Agatha Kratz, Joe Cash, Brenda Goh, Sam Holmes Organizations: Premier, China - Britain Business Council, China's Ministry of Commerce, Canada China Business Council, Communist Party, Thomson Locations: BEIJING, China, Sichuan, Chaozhou, Shanghai

☆ Russia's war in Ukraine has apparently come home again, this time with drones striking skyscrapers in the capital
▼ + stars: | 2023-07-24 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

The attack was reportedly carried out by Kyiv and came after unrelenting Russian attacks on southern Ukraine with drones and missiles increasingly targeting the country's grain infrastructure. Russia's Ministry of Defense said it "foiled" the early Monday morning attack on Moscow, which it blamed it on Ukraine. Photographs of the scene show damage to the roof of an unidentified building, which is located just a few hundred meters from the Russian defense ministry's headquarters in the capital. A view of a building after two Ukrainian unmanned aerial vehicles (UAVs) attack in Moscow, Russia on July 24, 2023. Ukraine's defense ministry said on Monday that Russian drones attacked grain infrastructure along the Danube River, injuring several people and destroying food storage facilities.

Persons: Vladimir Putin's, Sefa Karacan, Mykhailo Podolyak, Putin, ALEXANDER NEMENOV, Biden, Vedant Patel, Patel, EKATERINA ANISIMOVA, Volodymyr Zelenskyy Organizations: Service, Russia's Ministry of Defense, TASS, Windows, CNN, Kyiv, Anadolu Agency, Getty, Presidential, Twitter, Police, Wagner, White, US State Department Locations: Moscow, Ukraine, Russia, Wall, Silicon, Kyiv, Russian, Ukrainian, Russia's, Ukraine isn't, AFP, Crimean, Odesa

☆ Spain's right-wing parties could win a parliamentary majority, exit polls show after key election
▼ + stars: | 2023-07-23 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Voters in Spain head to the polls on July 23 to cast their votes and elect Spain's next government. PP secured between 145 and 150 seats, followed by the incumbent socialist party PSOE with between 113 and 118 seats, according to initial exit polls published by RTVE. It is so far unclear if the far right party Vox came in third or fourth, given that exit polls put it neck-to-neck with the left-leaning Sumar party. Exit polls suggest that the right wing bloc could potentially have a working majority. Spain's economy experienced a growth rate above 5% in 2022 and is set to expand by about 1.5% this year, according to the International Monetary Fund.

Persons: Spain's, Javier Mostacero Carrera, Pedro Sanchez, RTVE, Vox, Francisco Franco, Alberto Feijóo's, Sanchez Organizations: Universitat de Barcelona, Voters, PP, Partido, PSOE, Vox, International Monetary Fund Locations: BARCELONA, SPAIN, Barcelona, Spain, Madrid

☆ Ten dead in China after middle school gymnasium roof collapse
▼ + stars: | 2023-07-23 | by ( Cnn'S Beijing Bureau | ) edition.cnn.com time to read: +1 min

CNN —At least ten people are dead and one still trapped following the collapse of a middle school gymnasium roof in China’s northeastern city of Qiqihar Sunday afternoon, Chinese state media CCTV reported. Four escaped and fifteen were trapped at the time, according to the municipal search and rescue headquarters. A preliminary investigation suggests the collapse may have been caused by misplaced construction material called perlite that was left on the gym roof during construction work on an adjacent building. The material gained weight after being soaked in water brought by rainfall and led to the collapse, according to the preliminary investigation. Safety incidents are not uncommon in China and the accident follows a string of tragedies that have been linked to lax safety standards in recent months.

Persons: Xi Jinping Organizations: CNN, Beijing Locations: Qiqihar, China, Mongolia

☆ Mayor of Ecuadorian city of Manta assassinated in brazen attack
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: +1 min

QUITO, July 23 (Reuters) - The mayor of the Ecuadorian Pacific port city of Manta, Agustin Intriago, was assassinated on Sunday, authorities said, in a brazen attack that stunned the political establishment. Police said the 38-year-old Intriago, who was re-elected as mayor of Manta in February, had been inspecting public works in the city at the time of the attack. The municipal government of Manta said on its Twitter account that Intriago had been shot dead. He emerged unscathed from the attack, but a policeman was killed and several other people were wounded, media reported. Intriago belonged to a local political party in Manta, a city of well over 200,000 inhabitants.

Persons: Agustin Intriago, Juan Zapata, Manta, Intriago, Guillermo Lasso, Rafael Correa, Alexandra Valencia, Diane Craft, Sonali Paul Organizations: Police, Manta, Interior, Twitter, Duran, Thomson Locations: QUITO, Ecuadorian Pacific, Manta

☆ Public pools are disappearing across America
▼ + stars: | 2023-07-22 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +12 min

Yet just as public pools become more important than ever, they’re disappearing from sight. Today, the city has five public pools for a population of around 640,000, ranking 89 out of the largest 100 cities in swimming pools per person, according to Trust for Public Land, an advocacy organization for public parks and land. Private pools, like these in Southern California, have replaced public pools in recent decades. When America built poolsWhile public pools are a rarer sight today, governments built enormous pools during the twentieth century. Hannah Beier/ReutersBut the loss of public pools cannot be picked up fully by private pools or non-profit groups.

Persons: Gerome Sutton, ”, Sutton, ” Sutton, Matt Stone, won’t, Tammy Hawkins, We’ve, Andrew Kahrl, “ We’ve, ” Kahrl, Mario Tama, Jeff Wiltse, Robert Moses, ” Wiltse, Victoria Wolcott, Louis, Walcott, Whites, Martin Luther King Jr, ’, Funtown, suburbanites, John Cornell, Wolcott, Kahrl, Kevin Roth, It’s, Hannah Beier, LaShandra Logan, “, ” Logan Organizations: New, New York CNN, National Weather Service, YMCA, Public, Courier, USA, Aqua, Louisville, University of Virginia, National Recreation and Park Association, University of Montana, ”, Hulton, York, federal, Project Administration, San, University at Buffalo, ” Police, D.C, Kerner Commission, The Old, The Old Westbury Country Club, Newsday, Getty, Whites, Recreation and Park Association, Reuters Locations: New York, Louisville , Kentucky, Algonquin, Louisville, West Louisville, Cypress St, America, Southern California, America —, “, New York City, San Francisco, St, Louis, Baltimore, Washington, Los Angeles, Cincinnati, Augustine , Florida, White suburbs, The, The Old Westbury, Mississippi, Cleveland, California, Parks

☆ New Yorkers Got Broken Promises. Developers Got 20 Million Sq. Ft.
▼ + stars: | 2023-07-21 | by ( Urvashi Uberoy | Keith Collins | ) www.nytimes.com time to read: +15 min

These agreements allow developers to build larger towers and earn more revenue in exchange for providing public spaces. “Developers received something that was disproportionately valuable,” said Jerold S. Kayden, a lawyer and professor of urban planning and design at Harvard University and an advocate for keeping privately owned public spaces open to the public. Bonus Building Space The additional space that developers received is often far larger than the public spaces they provided. Here are the 392 buildings with privately owned public spaces. The violations fall under three main categories:Reduced Access In 2021, the plaza at 835 Sixth Avenue was fenced off.

Persons: Jonathan J, Miller, Richard J, Roddewig, ”, Jerold, Kayden, Gale Brewer, ” Ms, Brewer, “, Larry Silverstein, Mr, Silverstein, Melissa Grace, David Rubenstein Organizations: of Buildings, Advisory Services, “, Harvard University, New York’s Department of City Planning, Municipal Art Society of New, The Times, greenwich, madison, Database, New York City Department of City Planning, Department, Environmental, Buildings, Department of, Planning, City, The, of City Planning, Department of City Planning, Wall, Lincoln Center, Times, MANHATTAN BRONX, Yorkers, Real, Board, New, Google Locations: New York City, Central, Municipal Art Society of New York, pennsylvania, greenwich, lincoln, “, Manhattan, MANHATTAN BRONX QUEENS BROOKLYN, New York, AKAM, Brooklyn

☆ Cities brace for floods as heavier-than-usual storms drench China
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 21 (Reuters) - Rescue services braced for flooding as heavier-than-expected summer storms rolled across China as forecast on Friday, drenching Beijing and other major cities. Historically, China enters its peak rainy season in late July, but extreme weather has made storms more intense and unpredictable, exposing heavily built-up megacities with poor drainage to sudden floods and waterlogging. In Beijing, authorities have deployed this week over 2,600 people to drain 87 pumping stations in advance and clear thousands of water drainage outlets along roads, municipal authorities said in a statement on Friday. In July 2021, extreme rain in the central Henan city of Zhengzhou killed nearly 400 people, including 14 who drowned in a submerged subway line. Reporting by Ryan Woo and Liz Lee in Beijing; Editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: drenching, Ryan Woo, Liz Lee, Miral Organizations: Beijing Public Transport, Authorities, Xinhua, China Meteorological Administration, Thomson Locations: BEIJING, China, drenching Beijing, Beijing, Tianjin, Hebei, Inner Mongolia, Shanxi, Henan, Hubei, Jiangsu, Wuxi city, Gansu, Zhengzhou

☆ Mark Wahlberg Took a Risk on a Random Golfer. It Paid Off Big Time.
▼ + stars: | 2023-07-20 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/mark-wahlberg-wyndham-clark-municipal-golf-7b6930b2

Persons: Dow Jones Organizations: wyndham Locations: clark

Municipal Credit Union Personal Loan DetailsMunicipal Credit Union offers personal loans for a variety of purposes. See our picks for the best debt consolidation loans »Municipal Credit Union Personal Loan Pros and ConsPros Cons Excellent rates. Municipal Credit Union TrustworthinessMunicipal Credit Union has an A+ rating from the Better Business Bureau, a nonprofit organization focused on consumer protection and trust. Municipal Credit Union Personal Loans CompetitorsMunicipal Credit Union Personal Loans vs. First Tech Personal LoansFirst Tech Personal Loan and Municipal Credit Union have similar minimums. Municipal Credit Union Personal Loans vs. Navy Federal Personal LoansYou can get the smallest loan amount with Navy Federal Credit Union Personal Loan, as the credit union offers loans as small as $250Navy Federal has more stringent membership requirements than Municipal Credit Union, as you only qualify if you are an active military member, veteran, or employee or retiree of the Department of Defense.

Persons: You'll, you'll, Formally, Municipal Credit Union hasn't Organizations: Municipal Credit, Credit, Municipal Credit Union, New, Loan, Municipal, Chevron, Union, Better Business Bureau, BBB, First Tech, Financial, Navy, Navy Federal Credit, Federal, Department of Defense Locations: New York, New York City, York, Oregon

☆ How to invest in the massive and urgent demand for infrastructure, according to the manager of a $40 billion firm that does just that
▼ + stars: | 2023-07-20 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +8 min

It's not investing in infrastructure directly," Wahba told CNBC. "All the technology around infrastructure services, I think is an area which is going to grow exponentially," Wahba told CNBC. More infrastructure systems are going to become digitized, which means those systems increasingly become vulnerable to cybersecurity attacks. The danger of hackers with bad intentions getting into infrastructure systems is especially scary. Otherwise, privatizing infrastructure "is a recipe for disaster," Wahba told CNBC.

Persons: Sadek Wahba, Wahba, It's, Burger, Charles, Gaulle Organizations: Squared Capital Advisors, P Global, Bloomberg, Getty, Squared, Biden's, Infrastructure Advisory Council, CNBC, Companies Locations: Houston , Texas, New York City, Manhattan, cybersecurity, United States, United Kingdom, Paris, JFK, U.S

☆ Sustainable Aviation Fuel Leader Talks Green Premiums and Impact of Tax Incentives
▼ + stars: | 2023-07-19 | by ( Dieter Holger | ) www.wsj.com time to read: +11 min

Many airlines, corporate fliers and governments see so-called sustainable aviation fuel, or SAF, as a way to reduce aviation’s contribution to global warming. It recently converted an oil refinery in California and is expanding its refineries in Singapore and Rotterdam. We worked on a former fossil-fuel refinery and converted that into a renewable refinery. The carbon footprint of aviation can be affected today from today’s SAF technology. It will continue to incentivize current SAF production, but it will be difficult to be the impetus for future production.

Persons: P, Chris Cooper, We’ve, we’ve, Neste, Dieter Holger Organizations: Aviation, International Energy Agency, International Council, Clean Transportation, SAF, Sustainable, Neste’s U.S, Airlines, International Air Transport Association, Neste, Bloomberg New Energy Finance Summit, Dallas Fort Worth International Airport, DHL, Amazon, Marathon Petroleum, Sustainable Business, today’s SAF, Air, dieter.holger Locations: California, Singapore, Rotterdam, U.S, Neste U.S, San Francisco, Dallas, City, Oakland, Air Canada, Alaska, American, Delta, Los Angeles, San Jose, Washington, York, New York, New Jersey, . Oregon

☆ LA officials are investigating NBC Universal for trimming trees that provided shade to striking writers and actors
▼ + stars: | 2023-07-19 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

A row of trimmed trees has become a new flash point in the Hollywood writers' and actors' strike. NBC Universal cut back the trees that had provided shade to picketers outside its Los Angeles site. A Los Angeles official is investigating why NBC Universal trimmed shade-providing trees outside a site being picketed as part of the Hollywood actors' and writers' strike. In an apparent reaction to the furore, LA City Controller Kenneth Mejia, who has strong progressive leanings, tweeted that he would be investigating. "The trimmed trees are LA City managed street trees," he wrote on Tuesday, posting before-and-after images of the trees.

Persons: he's, Chris Stevens, Kenneth Mejia, Nicholas Slayton Organizations: Hollywood, NBC Universal, Los Angeles, NBC, Writers Guild of America, SAG, LA Times, WGA, LA City, — LA City, Department, Public Works, of Street Services, National Labor Relations Board Locations: Los Angeles, LA, —

With the second half of the year now underway, investors may want to take another look at their fixed income portfolio. High yields have been a boon to income investors, as the Federal Reserve increased interest rates over the past year. "For more of our clients, we're looking to have the fixed income of the portfolio provide lower correlation and income," he said. Greg Wilensky, head of U.S. fixed income at Janus Henderson Investors, generally prefers securitized assets such as asset-backed and mortgage-backed securities. "You can't think of high yield bonds in the same thought as Treasurys," said Cox of eToro.

Persons: James Franke, Sonal Desai, She's, We're, It's, Desai, Franke, Rothschild, Callie Cox, Greg Wilensky, Janus Henderson, Cox Organizations: Federal Reserve, Treasury, Rothschild Investment, Franklin, Janus, Janus Henderson Investors Locations: Treasurys, U.S, eToro

☆ Northeast flooding: 5 people were killed by raging floodwaters in southeastern Pennsylvania and 2 children are still missing
▼ + stars: | 2023-07-16 | by ( Christina Maxouris Lauren Mascarenhas Melissa Alonso Caitlin Kaiser | Christina Maxouris | Lauren Mascarenhas | ) edition.cnn.com time to read: +6 min

The children and their family, who were visiting from Charleston, South Carolina, were driving to a barbecue when they got stuck in flash flooding, Upper Makefield Fire Chief Tim Brewer said Sunday afternoon. Southeastern Pennsylvania was hit hard by heavy rain Saturday, less than a week after parts of the state had again faced flash flooding that deluged roadways and displaced dozens from their homes. “New York State is once again seeing significant rainfall & we are prepared to help communities respond,” Gov. Flash flood warnings were again in effect earlier Sunday in parts of the state, prompting officials to warn of potential landslides. “There are flash flood warnings throughout the state today.

Persons: Tim Brewer, “, Brewer, ” Brewer, ”, Norfolk PIO Jon Barbagallo, Kathy Hochul, ” Hochul, ” Long, Hochul, Kyle Mazza, Ned Lamont, John F, downpours, Hurricane Irene, Joe Biden, Jennifer Morrison, Phil Scott, Michael E, Mann Organizations: CNN, Authorities, Local, Empire State, “, York State, Twitter, New, New York City Emergency Management Department, Anadolu Agency, Bristol Firefighters Association, Connecticut Gov, National Weather Service, Boston Logan International Airport, LaGuardia, Newark Liberty International Airport, John, Kennedy International Airport, Federal Aviation Administration, Sunday, FEMA, ”, University of Pennsylvania, Southwestern Locations: Pennsylvania, Charleston , South Carolina, Bucks County, Upper Makefield, Southeastern Pennsylvania, New England, Vermont , New York, Massachusetts, Norfolk , Connecticut, Norfolk, New York, Connecticut, Empire, York, Waterbury , Connecticut, New York City, Suffolk County, Dutchess, Sullivan, New Jersey, Bristol, Boston, LaGuardia Airport, Vermont

☆ Explainer-Why is the U.S. SEC reforming money market funds?
▼ + stars: | 2023-07-12 | by ( Michelle Price | ) www.reuters.com time to read: +3 min

WHAT ARE MONEY MARKET FUNDS? All the major asset managers and bank groups, including BlackRock, Vanguard, Fidelity and Goldman Sachs offer money market funds. The panic was reminiscent of 2008 when a run on money market funds threatened to freeze up global markets and prompted the government to backstop the sector. The agency has made changes to primarily address concerns about “prime” and tax-exempt money market funds, which are particularly susceptible to runs in times of stress. In addition, some money market funds would be required to impose a discretionary liquidity fee if the fund’s board deems it’s necessary.

Persons: Andrew Kelly, Goldman Sachs, It’s Organizations: WASHINGTON, U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, U.S, Vanguard, Fidelity, U.S . Treasury, Treasury, Federal Reserve, redemptions Locations: Washington ,, BlackRock

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