California state agencies have received official word that they’ll have to tighten their belts as the state grapples with the COVID-19 pandemic. The Department of Finance sent out letters this week to the Legislature and department heads saying it would postpone its annual revised forecast ahead of the governor’s May budget revision and it will
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This article uses market data as of Tuesday close. A sharp drawdown period for preferred stocks has hammered asset coverage and increased leverage across the CEF sector. Given the sharp losses in the sector, asset coverage may be the last thing on investors’ minds. Asset coverage, however, is key in the funds’ ability to sustain
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Ben Bernanke, the former Federal Reserve chairman who served before and after the 2008 financial crisis, told CNBC on Wednesday that the coronavirus economic halt is more like a natural disaster than a depression. “It’s really much closer to a major snowstorm or a natural disaster than it is to a classic 1930s-style depression,” he said 
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People look out from aboard the Grand Princess cruise ship, operated by Princess Cruises, as it maintains a holding pattern about 25 miles off the coast of San Francisco, California on March 8, 2020. Josh Edelson | AFP | Getty Images Check out the companies making headlines in midday trading.  Norwegian Cruise Line, Royal Caribbean,
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Recent not-for-profit healthcare and higher education disclosure about COVID-19 provides a stark picture of the fiscal and operational hardships posed by the intensifying pandemic. A look at a series of recently sold and pending Midwest deals highlights how disclosure is ramping up in some bond offering documents as borrowers begin to feel the disease’s impact.
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It goes without saying that there are many reasons to feel nervous in the current market climate, and the Invesco CurrencyShares Japanese (NYSEARCA: FXY) has quickly reversed prior gains to produce losses of -4.3%. However, recent central bank activities make it look as though the general public might be less fearful than global policymakers themselves,
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Barry Sternlicht Cameron Costa | CNBC Barry Sternlicht, founder of investment firm Starwood Capital, told CNBC on Tuesday he supports President Donald Trump‘s desire to get America working again soon. Trump is ”kind of right” that the U.S. economy can’t remain virtually shut down forever because of the coronavirus crisis, Sternlicht said in a “Squawk Box” interview. ”We
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As the U.S. economy skids and many Americans scramble to make ends meet during the coronavirus pandemic, one casualty may be credit scores. Some congressional lawmakers want to prevent that.  A Senate bill introduced last week would prevent negative information from reaching your credit report for at least four months, as the nation continues battling
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Some smaller not-for-profit hospital systems are struggling just to keep their doors open as they grapple with rising costs, lost revenue, and a lack of available credit amid the intensifying COVID-19 pandemic. While preparing for an expected surge in volume that’s likely to come, “we are trying to figure out how to stay in business,”
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Main Thesis The purpose of this article is to evaluate the iShares National Muni Bond ETF (MUB) as an investment option at its current market price. While MUB has come under selling pressure in the short-term, I believe this has opened up a buying opportunity. Muni bonds have a very low historic default rate, so
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The municipal market sold off again on Friday in dramatic fashion even after the Fed announcement that it would buy munis via collateral by financial institutions, a step aimed at calming the anxiety over the flight of money from tax-exempt money market funds. The Fed move did lessen the sell off on the short end
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Since February 24th, 2020, the VanEck Vectors Gold Miners ETF (NYSEAECA: GDX) has encountered losses of as much as -49.2% before buyers were able to establish a foothold and generate small corrective moves higher. However, most of those losses still remain visible in the market’s current valuation of the exchange-traded fund, and this means new
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Call it part of the grand blame game:  Markets are down big, so it must be someone’s fault.  Exchange traded funds.  High-frequency traders.  Short sellers. In Europe, they have already figured out whose fault it is:  Short sellers!  In the past week, several European countries, including Italy, Spain, France, Belgium and Greece–have banned short selling
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