Trends

BofA CEO Says Credit Damage Muted, Sees Recovery at End of 2021

May 19th, 2020|

By Lananh Nguyen and David Westin Consumer spending picking up in reopening areas, Moynihan says ‘Not seeing the type of credit damage that you’d expect’ (Bloomberg) -- Bank of America Corp. Chief Executive Officer Brian Moynihan said consumer spending is picking

E-Commerce’s Pandemic Success Is Bad News for Oil Demand

May 19th, 2020|

By Dan Murtaugh (Bloomberg) -- One of the indisputable winners of the pandemic has been e-commerce, as home-bound consumers order everything from nearly-spoiled cabbage to bidets off the Internet. That will have long-term implications for everything. For

Fed Is All In: Here Are the Key Features of Its Lending

May 15th, 2020|

By Christopher Condon (Bloomberg) -- The Federal Reserve has announced a raft of emergency lending programs, with approval from the Treasury Department, to help the U.S. economy weather the devastating impact of the coronavirus pandemic. These

Fed Takes Next Step Toward Launching Muni Lending Facility

May 15th, 2020|

By Matthew Boesler (Bloomberg) -- The Federal Reserve took another step toward launching an emergency lending program for state and local governments, publishing an online document on Friday for would-be borrowers. The so-called notice-of-interest document is