Streetbeat News

Credit

SPY

Federal Reserve's Bostic stated that if the economy evolves as he expects, he would be comfortable advocating for no rate hike in September. However, if progress on inflation unexpectedly stalls, he would contemplate a rate hike.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:18 am

SPY

Federal Reserve's Bostic has stated that the Fed should be cautious, patient, and resolute, indicating a potential risk of over-tightening. He also mentioned that he would have 'grudgingly' voted for a rate hike in July.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:16 am

SPY

Federal Reserve's Goolsbee expressed optimism about inflation, stating that further policy tightening will depend on price movements. He emphasized the need for sustained, steady progress on inflation.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:55 am

APO

YELL

Apollo Global Management (APO) is leading a deal to provide trucking company Yellow Corp (YELL) with a bankruptcy loan, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 9:52 am

BMO

PNC

SPY

Investors' bets on a pause at the Federal Reserve's September meeting surged to an 81.5% probability, the highest recorded thus far. The disappointing July manufacturing activity data and a decline in job openings have been driving expectations higher for an interest rate pause. Mild inflation data expected before the September 19-20 meeting, along with potential challenges like the recommencement of student loan payments, are seen as reasons to justify a temporary pause in rate hikes.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 9:42 am

SLM

SOFI

SPY

The pause on federal student debt payments, affecting 28 million US borrowers, is set to end abruptly. Loan servicers, consumer advocates, and lawmakers warn that the system is not prepared for the influx of payments. Some loan administering companies have reduced staff this year, despite needing to prepare for the resumption of payments in October. Approximately 6.4 million borrowers still lack a repayment plan.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:40 am

STHZF

StateHouse Holdings Inc. has secured a debt modification agreement with Pelorus Equity Group, extending the repayment date of the series A loan agreement to February 10, 2027, and increasing the loan amount to $15.0 million. Pelorus is providing an additional term loan of $7.521 million. The company will use the funds for debt repayment and property tax payments. In return, StateHouse has agreed to grant Pelorus 136.3 million warrants of the company, amounting to 40% of the loan.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 9:12 am

BHR

Braemar Hotels & Resorts Inc. (NYSE:BHR) has secured a new $200 million corporate financing, which includes a $150 million senior secured term loan facility and a $50 million senior secured revolving credit facility. The financing can be expanded up to $400 million and is fully prepayable without penalty. The funds will be used to repay the mortgage debt associated with the Ritz-Carlton Sarasota, the Bardessono Hotel and Spa, and the Hotel Yountville. The company also plans to use the credit facility for general corporate purposes, including working capital, acquisitions, and refinancing existing debt.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 12:52 pm

KBE

KRE

SPY

XLF

The Federal Reserve's Senior Loan Officer Opinion Survey reports that U.S. banks have tightened standards for all consumer loans in Q2. Demand for auto loans has weakened, while demand for credit card loans remains unchanged.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 6:08 pm

KBE

KRE

SPY

XLF

The Federal Reserve's Senior Loan Officer Opinion Survey reports that U.S. banks saw tighter standards and weaker demand for commercial and industrial loans, as well as commercial real estate loans, during Q2. The banks also reported tighter standards and weaker demand for residential real estate loans compared to the previous quarter.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 6:06 pm