Right now we're getting disturbing signs from the debt markets for mortgage-backed securities. Again. The delinquency rate for mortgage securities backed by retail real estate was 14.3% in October, up from 4.6% in October 2019. Delinquencies for mortgage securities backed by lodging properties were 19.4%, up from 1.5% in October 2019.
Odds of another stop-gap bill to fund the government after December 11 just went up–thanks to a Trump tweet
In a pair of late-night tweets yesterday, President Donald Trump threatened to veto the annual defense bill authorizing nearly $1 trillion in military spending unless Congress opens the door for Facebook, Twitter and other social-media sites to be held legally liable for the way they police their platforms. An actual veto--and maybe even the threat of a veto--of the defense authorization bill would scuttle all attempts to put together an actual spending authorization bill to fund the federal government after the current stop-gap measure expires on December 11.
Even though Black families have been hard hit by the covid-19-related recession, they were better prepared because of the increase in their savings, new report finds.
The Dollar Spot Index (DXY) fell by 0.7% today to the lowest level in more than two years on the biggest drop in almost four weeks.
Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, said today that he anticipates that "ordinary" Americans--that is those without priorities for receiving a coronavirus vaccine because of age or underlying health conditions or employment as a healthcare worker--will start getting access to a vaccine in April. Assuming that large numbers of Americans decide to get vaccinated, most will have received a shot before the end of August. That would result in herd immunity in the United States by the fall of 2021.