As fear and uncertainty over COVID-19 increase by the minute, it has sent yields for both municipals and Treasuries never before seen low levels — begging the question if we could see zero or negative yields here in the States. This past week was a firestorm of complex events, with the end result being utter
Month: March 2020
The computer processing power of the bitcoin network is growing again – albeit slowly – as major Chinese miner manufacturers gradually resume business after the coronavirus outbreak delayed shipments. The average hashing power on bitcoin (BTC) over the past seven days has reached a new high of around 117.5 exahashes per second (EH/s), up 5.4
The Supreme Court of India has ruled against a decision imposed by the country’s central bank nearly two years ago that curbed crypto trading in Asia’s third-largest economy. According to a report from Bloomberg, a three-judge bench of the court ruled on Wednesday in favor of petitions by crypto exchanges and startups that opposed the
A pedestrian carries a Nordstrom shopping bag in Chicago. Christopher Dilts | Bloomberg | Getty Images Check out the companies making headlines after the bell. Nordstrom — Shares of the fashion retailer dipped 8% in extended trading after the company missed analysts’ expectations on both earnings and revenue for the fourth quarter. The company reported earnings
Panic selling not only locks in losses but also puts investors at risk for missing the market’s best days. Looking at data going back to 1930, Bank of America found that if an investor missed the S&P 500’s 10 best days in each decade, total returns would be just 91%, significantly below the 14,962% return
The world of crypto has developed at a breakneck pace over the past few years, and in a new development, cryptocurrency firm BitGo has announced the launch of its own crypto lending service. In recent times, the crypto lending industry has grown at a decent pace, but there is still room for a lot of
Voters in Michigan and Ohio will decide hundreds of millions worth of bonds and taxes on the presidential primary ballot this month. Michigan voters on March 10 will decide on over $600 million of school bonding proposals, which mostly will fund upgrades to facilities. In Ohio, voters have a number of bonding proposals and tax
Beijing-based cryptocurrency lending startup Babel Finance said it has reached a record of $380 million in outstanding loans as of February. Flex Yang, co-founder of Babel Finance, said on Thursday the firm’s outstanding loans have grown from $52 million-worth of USDT as of Q1 2019 to $289 million as of the end of last year,
BitGo, one of the largest and oldest custodians for digital assets, is joining the fast-growing business of lending out bitcoin and other cryptocurrencies to big investors. The Palo Alto-based company announced Thursday it is now offering institutional digital asset lending services. Founded in 2013 by CEO Mike Belshe, BitGo started testing the new service a
American clothing and accessories retailer American Eagle store seen in Tokyo. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) Budrul Chukrut | SOPA Images | Light Rocket | Getty Images Check out the companies making headlines after the bell. American Eagle Outfitters — The clothing retailer’s stock was up 5% in extended trading after the company
The Salesforce Tower stands in San Francisco, California, U.S., on Monday, May 21, 2018. David Paul Morris | Bloomberg | Getty Images SAN FRANCISCO — John Elberling has a drastic plan to address the city’s housing crisis: no more new skyscrapers. Or at least a trade off. The city of San Francisco allows for a
Source: Leidos A government contractor Stifel deemed “The Terminator” could be one of the best bets to lead the market back after the coronavirus sell-off, according to Wall Street analysts. Analysts have been getting behind Leidos as the outbreak has spread around the world. In the last three weeks, Wells Fargo and Stifel upgraded the stock to
Controversy continues to surround Ripple’s XRP token, and the company’s incentivizing of partners to start using its cross-border payment solution has flooded the crypto’s market supply. However, despite all this uncertainty surrounding XRP, one analyst thinks that the cryptocurrency is bound for a huge upswing. Ripple Paid Moneygram to Use Its Cross-Border Remittance Service Over
Illinois Gov. J.B. Pritzker’s proposed budget makes some modest progress in the right fiscal direction if voters allow the state to move to a progressive income tax structure, S&P Global Ratings said. S&P “considers the Illinois governor’s fiscal 2021 budget proposal a step toward improving structural balance, building liquidity, and addressing pension liabilities, although it
Blockchain might help major apparel brands from Nike to Macy’s better share product data across the retail supply chain, according to a white paper Auburn University’s RFID Lab published Wednesday. The study, named the “Chain Integration Project” (CHIP), saw those retailers and others run Hyperledger Fabric nodes on a slice of their mammoth supply chains.
GrainChain, a commodities tracing platform that uses smart contracts to open up liquidity for low-income farmers, has raised $8.2 million in its latest funding round, the company announced Friday. Luis Macias said the money will bolster GrainChain’s burgeoning operations in Mexico, Honduras and the southwest United States. “This funding is really going to allow us
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. Brendan McDermid | Reuters V-shape? U-shape? L-shape? Wall Street strategists are engaged in a fight over whether the coroanvirus outbreak is a one-quarter hit to earnings and the economy or whether it is a multi-quarter phenomenon.
A visitor holding a revolver by US manufacturer Smith & Wesson (S&W) at the IWA OutdoorClassics trade show for hunting, shooting sports, equipment for outdoor activities and for civilian and official security applications. Daniel Karmann | picture alliance | Getty Images Check out the companies making headlines after the bell. American Outdoor Brands — The gun
The average rate on the 30-year fixed mortgage fell to a record low of 3.29%, Freddie Mac reported this week. That’s down from the previous low of 3.31% in November of 2012, in the wake of the financial crisis. Fears of the coronavirus hitting financial markets have pushed bond yields down, yields which mortgage rates
Greycroft chairman Alan Patricof said Thursday the recent market pullback was a “blip” and that investors should remain calm. “This is a blip, and we’ve seen a lot of blips in the last 20 years,” Patricof said on CNBC’s “Closing Bell.” Stocks sold off dramatically again on Thursday, continuing a volatile period of trading that
Newly released documents relating to Telegram’s 2018 ICO have revealed some big-name backers, including Russian oil tycoon Roman Abramovich and former Minister of Open Government Affairs Mikhail Abyzov. The publication of the documents highlighting some of the big-money backers in Telegram’s planned blockchain, Telegram Open Network (TON), is just the latest development in the US
The world remains on edge about the rapidly spreading COVID-19 and those fears once again have Treasury yields digging down even deeper. COVID-19 fears have now impacted fund flows, as municipals suffer outflows for the first time in 60 weeks. After 60 weeks in a row of inflows, many of which were in exess of
Crypto software firm Zabo, which claims it can connect bank accounts directly to cryptocurrency wallets, raised $2.5 million to build out its engineering team and add new customers. The Dallas-based firm announced Thursday it had successfully completed a funding round, with participation from Castle Island Ventures, the Tezos Foundation, CoinShares and Digital Currency Group. The
Unstoppable Domains, a censorship-resistant web developer, has released a Google Chrome extension in its bid to open up web 3.0. The extension will give users access to .crypto domain names directly from the Chrome browser, currently the most-used web browser. Developed by Unstoppable Domains, .crypto domains are smart contracts on the Ethereum network, meaning to
A woman wearing a protective face mask to prevent contracting the coronavirus enters a subway station in Milan, Italy, March 4, 2020. Guglielmo Mangiapane | Reuters First quarter U.S. earnings estimates have been declining since coronavirus concerns became known toward the end of January, but Europe — now the cutting edge of the coronavirus epidemic
Check out the companies making headlines before the bell: Zoom Video (ZM) — The video conferencing company reported earnings of 15 cents per share on revenue of $188.3 million. Wall Street was expecting earnings of 7 cents per share on revenue of $176.5 million, according to Refinitiv. American Eagle (AEO) — The retailer’s quarterly earnings beat on
A for rent sign advertising a row house in northeast Capitol Hill, is pictured on Monday, August 26, 2019, in Washington D.C. Tom Williams | CQ-Roll Call, Inc. | Getty Images Investors are looking for the calm in the coronavirus storm, and U.S. residential real estate appears to be it, specifically single-family rental homes. These
Trader on the floor of the New York Stock Exchange. Lucas Jackson | Reuters The market’s swift decline from record highs sparked by the coronavirus outbreak has left investors wondering when the bleeding will stop. On Feb. 19, the S&P 500 hit an all-time high. Just a week later, the broad market average traded in
Tesla (NASDAQ:TSLA) CEO Elon Musk has voiced his support for Dogecoin (DOGE) just a month after offering skeptical remarks regarding the largest cryptocurrency, Bitcoin (BTC). Musk Publicly Endorses Dogecoin Musk, who is a huge fan of DOGE, declared his endorsement for the altcoin on March 3 through a tweet. However, his initial tweet was not
Delays caused by the threat of three lawsuits ended up benefiting Vallejo, California, by pushing a bond deal into last week’s muni market rally. The city and its advisors say the $37.8 million water revenue refunding deal priced 40 to 50 basis points lower than if the bonds had sold late last year as originally