The Financial Crisis has taught investors nothing. They shied away from risk for about a few months before jumping right back into it. Sure, maybe subprime mortgages weren’t the top pick but they just moved on. Today, the most overt concern is the debt connected to retail, the derivatives mess underneath it, and how purposely ignoring this will have devastating consequences. Well, this time is different, right?
Alignable: 32% Of SMBs Can’t Pay September Rent – Alignable
DATA INSIGHTS | TREND TRACKER | Editor’s Note: This research is part of an in-depth series of polls of over 510,000 small business owners in the U.S. & Canada affected by the Coronavirus. To see more of our findings, go here. BOSTON, MA, Sept.
Starwood’s Mall at Wellington Green Loan In Trouble
A $680 million commercial mortgage-backed securities loan for a Starwood mall portfolio that includes a large Wellington property has been sent to special servicing, according to Trepp. The four-property portfolio is owned partly by Starwood Property Trust. Loans are generally sent to special servicing when they are either in default or when a property has lost a major tenant.
CMBS Special Servicing Rate Continues Upward Trend in August
The retail special servicing rate clocked in at 17.3%, up from 16.0% in July. The lodging special servicing rate, which saw the second-highest increase among all property types, came in at 25%, up from 24.3% in July. Since then, a number of loans that were marked delinquent have been cured (or reverted to current status).
Super-Rich Step Up Large Stock Sales After Global Prices Surge
(Bloomberg) — Some of the world’s wealthiest people have sold more than $3 billion of stakes in their major holdings since August, diversifying their fortunes as stock markets rebounded. Heinz Hermann Thiele offloaded about $1.
Forget the Stock Market. The Rare-Plant Market Has Gone Bonkers. – WSJ
The 1600s had the Dutch tulip market bubble. Now 2020 is doing the same for rare plants. Interest in greenery has grown during the pandemic, with more people stuck at home and bored-and Instagram posts have helped send the market for unusual varieties into a tizzy.
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After Hertz layoffs, $16.2 million in retention bonuses | Fortune
The beleaguered vehicle rental company filed for bankruptcy and said it would lay off 10,000 employees in the face of the novel coronavirus pandemic. Then it disclosed millions in retention bonuses.
Why I Dissented. I strongly support the new Statement on… | by Neel Kashkari | Sep, 2020 | Medium
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
The stock market has performed very well in 2020. Interest rates are extremely low throughout this period and should remain low for some time. We have seen large inflows of cash, debt, money, flowing into equities, particularly tech stocks.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.