For decades, credit rating agencies have unintentionally provided bond investors with an almost guaranteed way to turn a profit: When the firms demote companies from investment-grade, many money managers are forced to sell, because they have mandates forbidding them from owning junk debt. Such sales typically happen fast, pushing prices below those for bonds with
Open this photo in gallery: CI began its flurry of U.S. acquisitions at the end of 2019, when chief executive officer Kurt MacAlpine revealed a new strategy to build a U.S. wealth management company.Tijana Martin/The Globe and Mail After CI Financial Corp. CIX-T for the first time surpassed $500-billion in assets under management in its
Employers can now help borrowers pay off student debt Student loans have become a $1.8 trillion burden for millions of Americans. A new law signed by President Biden may help borrowers pay off their loans while saving for retirement. Bloomberg – Quicktake Did you wake up to an email on Friday stating your student loans
Joe Biden and Kamala Harris continue to march forward with debt forgiveness plans that they have no authority to implement. Millennials: Thousands in debt, little in the bank, yet loves vacations Millennials are struggling to stay financially afloat these days thanks to rising rent, and student loan debt. Buzz60 It’s the middle of August, which
In the span of about one year, the Federal Open Market Committee (FOMC) has raised the federal funds target rate from near zero to around 5%. This has driven up other rates—mortgages, US Treasuries, bank loans, etc. Given the high speed at which rates have risen, there are concerns about the cost of rolling over
Student loans are holding borrowers back A new Gallup poll finds that most student loan borrowers are delaying other major life events due to their debt. President Joe Biden’s administration has worked to forgive or lower student loan repayments, but now one of the main programs helping millions of Americans is in court and borrowers
The Treasury Department is beginning to buy tens of billions of dollars in US bonds in a push to bolster the market. In a series of announcements, the department details its $50 billion buyback operation, which started on August 7th and will last until October 31st. The agency is looking to buy both short and
Nationwide Building Society has slashed interest rates once again in another win for borrowers. The high street lender has announced it has cut rates on personal loans for those borrowing over £7,500 This comes after the Bank of England’s decision to reduce the UK’s base rate from a 16 -year high. The central bank’s Monetary