• Will Fed officials Jefferson and Harker's suggestion of a potential temporary pause in interest rate hikes impact the June meeting?
• What led to General Motors (GM) filing for bankruptcy under Chapter 11 protection in 2009?
• What are the different types of Real Estate Investment Trusts (REITs)?
Opening price as of 06/01/2023 compared to last close
IN THE HEADLINES
Fed officials Jefferson and Harker suggest a potential temporary pause in interest rate hikes ahead of the June meeting
During discussions about the impact on rate hike expectations for the rest of 2023, officials emphasize the need to gather more data before making further decisions on policy tightening. Market expectations for a rate hike at the next meeting have decreased, and the Fed's Beige Book report shows a slowdown in inflation. Consumers are becoming more sensitive to price increases. The comments come amidst a spike in job openings and accelerated inflation in April. Read more
US debt ceiling bill passes House with broad bipartisan support
The US House of Representatives passes a bill to suspend the nation's debt limit, aiming to prevent a default. The bill now moves to the Senate for approval. The bipartisan measure received significant support, and if enacted, it would suspend the debt limit until 2025. The bill includes provisions on non-defense spending and work requirements for food stamp recipients. The passage of this bill is a crucial leadership test for House Speaker Kevin McCarthy and President Biden. Read more
As trade and investment risks escalate, CEOs like Elon Musk and Jamie Dimon are increasingly drawn to China
CEOs of major US companies, including Elon Musk and Jamie Dimon, are visiting China to assess the business environment after pandemic restrictions were lifted. The visits highlight China's importance as a key market, but executives face challenges such as geopolitical tensions and a crackdown on consulting firms. Despite this, some companies are reinvesting in China, emphasizing its ongoing significance. Read more
This Day in History
On June 1, 2009, General Motors (GM), the largest carmaker in the United States, filed for bankruptcy under Chapter 11 protection at a federal courthouse in Manhattan. The move came after the company accumulated losses of $81 billion over four years.
Different Types of Real Estate Investment Trusts (REITs):
1. Mortgage REITs: Provide funding to real estate purchasers by acting in the same capacity as a bank.
Mortgage REITs borrow funds from investors and then invest the funds in mortgages and typically earn income based on the difference between these two rates of interest.
2. Equity REITs: Own and operate income-producing real estate, such as apartment buildings, commercial property, shopping malls, vacation resorts, and other retail properties.
3. Hybrid REITs: A combination of mortgage REITs and equity REITs.
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