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HPP

Hudson Pacific Properties Inc (HPP) has sold two Los Angeles office properties for a total of $72.5 million. The company expects to recognize a $22 million gain from these transactions in Q3. The proceeds were used to repay outstanding amounts on its unsecured revolving credit facility. HPP's shares are trading higher by 0.32% at $6.23.

Portfolio Pulse from Shivani Kumaresan

August 25, 2023 | 2:47 pm

JPM

JPMorgan Chase's Chief Product Officer, Rohan Amin, discussed the bank's focus on technology, data security, and customer-centric product development. Amin highlighted the bank's efforts in AI and machine learning to enhance customer experiences. He also mentioned the bank's response to the increasing trend of mobile banking and digital payments, with over 90% of survey respondents using the mobile app more than once monthly.

Portfolio Pulse from Renato Capelj

August 25, 2023 | 2:20 pm

SPY

The U.S. 2- and 10-year yield curve inversion has narrowed to -79.9 basis points following a speech by Federal Reserve Chairman Jerome Powell, according to Reuters citing Refinitiv's Fedwatch.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 2:09 pm

SPY

Federal Reserve Chairman Jerome Powell has indicated that above trend growth could necessitate further rate hikes. He also stated that to bring inflation back to 2%, it may require below trend growth.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 2:08 pm

SPY

Federal Reserve Chairman Jerome Powell stated that there is a need for further progress on non-housing services inflation. He also mentioned that the policy is restrictive, but the Fed cannot be certain about the neutral rate level. Powell confirmed that the Fed will not change the 2% inflation target and is mindful of the risks on both sides of monetary policy.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 2:06 pm

SPY

Federal Reserve Chairman Jerome Powell has stated that the Fed is prepared to raise interest rates further if necessary. The intention is to hold rates at a restrictive level until there is confidence that inflation is moving sustainably down to 2%. Future rate decisions will be based on data.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 2:04 pm

FXI

The Central Bank of China has instructed banks to implement policies that favor first-time homebuyers who do not own a house. This move is aimed at supporting the real estate market.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 1:44 pm

FXI

China's central bank is set to release guidelines on easing residential housing loans, while maintaining the principle that houses are for living, not for speculation.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 1:41 pm

CPG

Crescent Point Energy Corporation (NYSE:CPG) has agreed to sell its North Dakota assets for $500 million to a private operator, reportedly Kraken Resources, to accelerate its debt repayment. This has led to a reduction in its 2023 annual average production guidance and its development capital expenditures guidance for 2023. The company's net debt is expected to be less than C$2.2 billion by year-end, down from C$3 billion at the end of Q2.

Portfolio Pulse from Nabaparna Bhattacharya

August 25, 2023 | 1:30 pm

BLK

SFTBY

WE

WeWork Inc (NYSE:WE) is on the brink of bankruptcy, with its stock plunging 99% since its public listing in October 2021. Creditors, including BlackRock Inc (NYSE:BLK), King Street Capital, and Brigade Capital, are considering a bankruptcy filing for the company. The potential bankruptcy could allow WeWork to exit some of its costly commercial real estate leases and may result in creditors taking control of the company. WeWork's major shareholder, SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF), could be significantly impacted if bankruptcy nullifies WeWork's publicly traded stock.

Portfolio Pulse from Vandana Singh

August 25, 2023 | 11:56 am