Markets News 

A new part of the market is melting down as panicked investors get another ‘wake-up call’

“You may not have noticed as stocks and Treasurys took massive plunges, but corporate bonds hung in there quite nicely” writes Joe Ciolli for businessinsider.com. The pressure may also spur more fickle investors to flee the trade, Morgan Stanley has said in the past.Investors might very well step in and “buy the dip” amid tightening spreads, but the longer volatility persists, the more scared investors will get, according to Morgan Stanley.But don’t let that temporary optimism fool you — Morgan Stanley is still very much bearish on the credit market…

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Markets News 

Selloff Grips Credit Funds as Rate Fears Ripple Through Markets

“Meanwhile, options on an index of derivatives tied to corporate credit — typically used to hedge against a broad correction — also saw a pick-up in volumes, according to market participants” writes Cormac Mullen for bloomberg.com. Corporate bond funds succumbed to rate fears that have gripped stocks to Treasuries.That’s while risk premiums on high-yield U.S. bonds narrowed 10 basis points Thursday to 346, according to a Bloomberg Barclays index.Investors pulled $14.1 billion from debt funds, the fifth-largest stretch of redemptions in the week through Feb. 14, according to a Bank of America Merrill Lynch…

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Markets News 

Bill aims to restore U.S. tax break for advance refunding muni bonds

“The two lawmakers co-chair the Congressional Municipal Finance Caucus, which unsuccessfully pushed to keep advance refunding bonds out of the tax bill” writes Midwest Communications Inc for 95kqds.com. The termination of the tax break for interest earned on the debt is expected to generate $17.3 billion for the U.S. government between 2018 and 2027.The sweeping tax bill signed into law by President Donald Trump in December ended the federal tax break for new advance refunding bonds, which are used to refund outstanding debt beyond 90 days of its call date…

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Crypto Markets News 

Berkeley, CA Developing Own Cryptocurrency And Accompanying ICO

“However, as noted, Berkeley officials seem to hope the institutional backing of municipal bonds will bestow their ICO with legitimacy” reports newsbtc.com. In attempts to establish more financial independence from the Trump administration, Berkeley, California is in the preliminary stages of launching its own cryptocurrency.By attracting investors through an ICO, the city hopes to raise funds to assist in efforts combatting homelessness and its affordable housing shortage.As Business Insider notes, current estimates suggest that the tax code may diminish the future supply of affordable housing by almost 235,000 homes in…

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Markets News 

Mortgage rates hit 14-month high as bonds sell off

“The benchmark 30-year fixed-rate mortgage averaged 4.32% during the week ending Feb. 8, Freddie Mac said Thursday” writes Andrea Riquier for marketwatch.com. He won’t start to worry until higher rates start to nudge would-be homeowners over their eligibility ceiling, he said.The 15-year fixed-rate mortgage averaged 3.77%, up from 3.68%.For now, demand for purchase mortgages has been ”very stable” at Quontic even as rates have churned higher, Schnall said.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.57%, up four basis points. Source: marketwatch.com Share This:

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Markets News 

Challenged from the left, D.C. Council chairman defends progressive record

“Lazere said the city needs bolder leadership to address an affordable housing crisis and racial inequality” reports washingtonpost.com. Lowery was the most blunt in his criticism, accusing Bonds of not showing up on issues from homelessness to holding developers accountable for meeting affordable housing requirements. Source: washingtonpost.com Share This:

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Markets News 

‘Text Me When You Get Home’ Celebrates the Power and Glory of Female Friendship

“Where to start unpacking the good news that Kayleen Schaefer broadcasts in her timely, nimble, essential memoir, Text Me When You Get Home (Dutton), which investigates and celebrates the power and glory of female friendships?” writes Lisa Shea for elle.com. We’re replacing them with tight bonds that are loving, supportive, uplifting, and, most importantly, crucial to a sense of well-being.This evolution is occurring despite the fact that “throughout history, women have seen their bonds dismissed, picked apart, or outright mocked. Source: elle.com Share This:

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Markets News 

Giants to retire Barry Bonds’ No. 25 jersey in August

“Giants to retire Barry Bonds’ No. 25 jersey in August FILE – In this Sept. 26, 2007, file photo, San Francisco Giants’ Barry Bonds waves goodbye to the fans at AT&T Park after his final at bat against the San Diego Padres in the sixth inning of their baseball game in San Francisco, Wednesday, Sept. 26, 2007” writes Ap Baseball Writer for yahoo.com. He will become only the 12th player from the New York or San Francisco Giants to have his number retired.Bonds will have his No. 25 jersey retired…

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