Pedestrians walk past a J.P. Morgan Chase bank branch. Alex Tsai | SOPA Images | Getty Images WASHINGTON — The beaten-down banking sector will remain under pressure through 2025 even as the economy recovers, the International Monetary Fund said Friday.  In its latest “Global Financial Stability Report,” the IMF found banks across nine advanced economies will struggle
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TOPLINE Mortgage delinquency rates nearly doubled and total delinquencies reportedly increased by 1.6 million in April, the largest single-month jump in history, though the majority are covered under Cares Act forbearance programs. CHICAGO, ILLINOIS – APRIL 30: A demonstrator calls on the governor to suspend rent and mortgage … [+] payments to help those who
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Locked-down music lovers are dusting off golden oldie playlists to reminisce about time spent with friends, lip-syncing songs such as Don’t Stop Believin’ through kitchen-tong microphones. The 1981 classic by Journey, Don’t Stop Believin’, is seeing 362,000 streams a week, launching it back into the top 200 chart, and a Nielsen survey showed almost two-thirds
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Municipal bonds continued their descent to lower yields Thursday, declining at least five basis points across the curve while the short end continued its rally. The one- to three-year yields are reaching near-record lows, calling into question how far they can drop before investors start backing off. A decent crossover trade from taxable bond sectors
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Boston Properties CEO Owen Thomas told CNBC on Thursday that working from home is not a long-term replacement for physical offices, arguing many of the coronavirus-related shifts in business will be temporary.  “The ability to mentor younger employees, the spontaneous collaboration and creativity that occurs, and also the culture that companies develop, it’s very difficult
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Ricky Sandler, founder and chief executive officer of Eminence Capital LP, speaks during a Bloomberg Television interview at the Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 1, 2018. Patrick T. Fallon | Bloomberg | Getty Images A hedge fund chief who had a bullish view of the stock market when
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An employee of the Internet company Facebook walks through the courtyard of the company campus in Menlo Park, California. Christoph Dernbach | picture alliance | Getty Images Check out the companies making headlines in midday trading.  Analog Devices — Shares of the semiconductor stock rose more than 8% following its earnings that beat Wall Street’s expectations.
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The municipal market continued its short-end rally Tuesday with yields falling by as much as seven basis points, amid a well-functioning new-issue market that saw deals re-priced to lower yields. Amid an otherwise quiet tone that was characterized by some firmness and strong demand for a large Connecticut pricing and a steepening yield curve, there
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JPMorgan Chase CEO Jamie Dimon said Tuesday in a memo that the coronavirus crisis should be used to build an economy that offers opportunities for “dramatically more people.” The memo, issued ahead of his bank’s annual shareholder meeting, served as an update to the New York-based bank’s response to the pandemic. Dimon also detailed the steps his
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A mall security officer walks while wearing a protective mask during the coronavirus pandemic on May 17, 2020 in Castaic, California. Robin L Marshall | Getty Images The economic effects of the coronavirus outbreak continue to roil real estate markets, but properties owned by real estate investment trusts (REITs) are still getting most of their
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Bill Miller, founder of Miller Value Partners, disagreed Wednesday with the assessment made by other major investors about the market’s valuation being too high.  “If you look at the overall market … we’re trading around 17 times the consensus on bottom-up earnings for 2021, which is about the average for the last five years,” Miller
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Scientist Xinhua Yan works in the lab at Moderna in Cambridge, Massachusetts, on Feb. 28, 2020. Moderna has developed the first experimental coronavirus medicine, but an approved treatment is more than a year away. David L. Ryan | Boston Globe | Getty Images Check out the companies making headlines midday Monday: Moderna — Moderna soared
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