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Economy

“Senate Haggles Over Deal to Pull Back from Debt-Ceiling Brink”

“…News of a possible debt-ceiling accord stoked the biggest positive turnaround in the equity market in more than seven months on Wednesday, and stocks extended gains Thursday. In the bond market, traders bid back up the prices of Treasuries set… Continue Reading…

Stocks

“The stock market would plunge 33% if the [US] government defaults: Moody’s”

“”Stock prices would be cut almost in one-third at the worst of the sell-off, wiping out $15 trillion in household wealth. Treasury yields, mortgage rates, and other consumer and corporate borrowing rates spike, at least until the debt limit is… Continue Reading…

Economy, Real Estate

“Millions Of Americans Skip Payments As Tidal Wave Of Defaults And Evictions Looms”

“Americans are skipping payments on mortgages, auto loans and other bills. Normally, that could mean massive foreclosures, evictions, cars repossessions and people’s credit getting destroyed. But much of that has been put on pause. Help from Congress and leniency from… Continue Reading…

Business, Economy

“Airlines are on the brink of bankruptcy — what happens to your voucher, travel miles and airline credit card if they go belly up?”

“Carriers’ stocks have tanked in response. Warren Buffett recently revealed that Berkshire BRK.A, -1.37% had sold off all of its holdings in the airline sector, including stock in Delta DAL, -6.99%, American Airlines AAL, -6.94% and Southwest LUV, -5.76%. Boeing BA, -3.21% Chief Executive David Calhoun suggested that a major airline will “most likely” go under… Continue Reading…

Banking, Economy

“Hidden defaults set to soar as recession squeezes companies”

“New York: The worst recession since the Great Depression is prompting indebted companies to default, and increasingly more will do so in a way that’s harder for investors to detect. Rating firms predict that more companies will pursue distressed debt… Continue Reading…

Banking

“JPMorgan Profit Sinks Nearly 70% As It Braces For Loan Defaults”

“JPMorgan Chase & Co.’s first-quarter profit tumbled 69% and the bank set aside an additional $6.8 billion to cover potential losses on loans to consumers and businesses struggling to stay afloat during the coronavirus shutdown…” https://www.wsj.com/articles/jpmorgan-chase-reports-profit-falls-69-amid-u-s-coronavirus-outbreak-11586862723