Month: April 2020

9 ways financial organizations are aiding battle against coronavirus

Banking News – 9 ways fiscal organizations are aiding battle against coronavirus
&nbspFunneling fees from urgent circumstances loans to feed the hungry. At the bottom of psychological analysis for health care heroes and fiscal advice for the poor. Backing retrofits of consumer operations to produce defending gear for front-line medical personnel. Bankers and fiscal educators have tossed out the habitual playbook to help clients and communities in crisis.
Union Banking – https://www.americanbanker.com/list/9-ways-fiscal-organizations-are-aiding-battle-against-coronavirus

BofA submits $28B in loan requests for coronavirus relief

Banking News – BofA submits $28B in loan equipment for coronavirus relief
&nbspIn round two of the Pay packet Safeguard Program, the bank has sent some 256,000 loan applications to the Small Affair Handing out for dispensation.
Union Banking – https://www.americanbanker.com/articles/bofa-submits-28b-in-loan-equipment-for-coronavirus-relief

CFPB critics moving swiftly to challenge payday lending rule

Banking News – CFPB critics moving swiftly to challenge payday lending rule
&nbspConsumer groups are poised to take the bureau to court over its gutting of underwriting equipment, while House Free leaders could attempt a repeal through the Congressional Review Act.
Union Banking – https://www.americanbanker.com/news/cfpb-critics-moving-swiftly-to-challenge-payday-lending-rule

Sell in May and Go Away: Should You in 2020?

Private Finance – Sell in May and Go Away: Should You in 2020?
 

The regular proposition to “sell in May and go away,” an adage spurred by the market’s stuck-up routine during certain months of the year, is backed by the numbers more often than not. But whether investors should follow that advice is an annual debate – one that’s a lot more complex this year.

“The data shows that, on average, the November-April periods outperformed the May-October periods,” says Jodie Gunzberg, chief investment strategist at Graystone Consulting, a Morgan Stanley affair. Gunzberg points to monthly S&P 500 data compiled from January 1928 through March 2020, which shows an average November-April return of 5.1%, versus just 2.1% for May-October.

A few other numbers to thought-out:

  • The November-April period delivered clear returns in 65 of 91 years (71%).
  • The May-October period delivered clear returns in 60 of 92 years (65%).
  • During clear periods, the average November-April return was 11%, versus 8.7% for May-October.
  • During halfhearted periods, the average November-April return was -9.6%, versus -10.4% for May-October.

In any case, market strategists and fiscal experts typically advise investors to avoid timing the market. And this is no run of the mill year, as the COVID-19 endemic has unfurled a global fiscal brake and a wild couple months of market action.

Let’s take a holistic look at the “sell in May and go away” experience as it applies to 2020. Here, we’ll explore what the experts reckon about the current fiscal background, whether the approach works for investors, their broader investing suggestions right now and which areas of the market they favor.

SEE ALSO: 20 Best Stocks to Buy Now for the Next Bull Market

Kiplinger Private Finance – https://www.kiplinger.com/slideshow/investing/T031-S001-sell-in-may-and-go-away-should-you-in-2020/index.html

PPP fee income will go straight to loan-loss reserves at many banks

Banking News – PPP fee income will go honest to loan-loss capital at many banks
&nbspThe millions of dollars earned from Pay packet Safeguard Program transactions will help cover rising provision costs tied to the new CECL accounting ordinary and coronavirus shocks to loan books.
Union Banking – https://www.americanbanker.com/news/ppp-fee-income-will-go-honest-to-loan-loss-capital-at-many-banks

OnDeck sharply curtails lending as delinquencies mount

Banking News – OnDeck sharply curtails lending as delinquencies mount
&nbspThe online lender reported a hefty first-quarter loss on Thursday and said that a monstrous 45% of its small-affair loans are past due.
Union Banking – https://www.americanbanker.com/news/ondeck-sharply-curtails-lending-as-delinquencies-mount

Oklahoma credit union to buy community bank

Banking News – Oklahoma credit union to buy union bank
&nbspTinker Federal Credit Union’s deal for Prime Bank in Edmond, Okla., is set to close later this year.
Union Banking – https://www.americanbanker.com/news/oklahoma-credit-union-to-buy-union-bank

Agencies signal support for more capital relief in midst of crisis

Banking News – Agencies signal support for more capital relief in midst of crisis
&nbspIn break letters to House of representatives, the Fed questioned for governmental action to ease Tier 1 capital minimums while the FDIC said it may use its own power to address the market strain on banks.
Union Banking – https://www.americanbanker.com/news/agencies-signal-support-for-more-capital-relief-in-midst-of-crisis

Coronavirus hitting millennials’ finances the hardest: TransUnion

Banking News – Coronavirus hitting millennials’ finances the toughest: TransUnion
&nbspNearly 70% of U.S. adults between the ages of 26 and 40 said their return had been with a denial unnatural by the rash, about 10 percentage points higher than other age groups.
Union Banking – https://www.americanbanker.com/news/coronavirus-hitting-millennials-finances-the-toughest-transunion

Federal systems’ tech flaws laid bare by coronavirus crisis

Banking News – Federal systems’ tech flaws laid bare by coronavirus crisis
&nbspIt’s time for agencies like the Small Affair Handing out to stop playing catch-up and invest in state-of-the art equipment.
Union Banking – https://www.americanbanker.com/opinion/federal-systems-tech-flaws-laid-bare-by-coronavirus-crisis

Fed expands yet-to-be-launched lending backstop for larger firms

Banking News – Fed expands yet-to-be-launched lending backstop for larger firms
&nbspThe Main Street Lending Program, announced on April 9 as an option to help U.S. businesses weather the coronavirus rash, will be void to a wider array of companies than earlier plotted.
Union Banking – https://www.americanbanker.com/news/fed-expands-yet-to-be-launched-lending-backstop-for-larger-firms

7 Tips for Retirees to Help Ride Out Market Turmoil

Private Finance – 7 Tips for Retirees to Help Ride Out Market Turmoil
 When stock portfolios take a beating, it’s nice to know there are some income sources and saving and investing strategies that you can still count on.
Kiplinger Private Finance – https://www.kiplinger.com/article/retirement/T038-C032-S014-7-tips-for-retirees-to-help-ride-out-stock-turmoil.html