Capital Markets Weekly Update

Macro Commentary:  CPI month-over-month beat expectations last week on Friday, coming in at 0.4%. This larger than expected increase in prices was driven by the sharpest monthly gain in used-vehicle in five decades. This data reflects the steady increase of demand and recovery of the economy to pre-pandemic levels of inflation. 16,750 firefighters were fighting … Read more

Capital Markets Weekly Update

Macro Commentary:  This past Friday, Nonfarm Payrolls increased by 1371k, in line with expectations. The unemployment rate was 1.4% lower than expectations at 8.4%. These employment numbers continue to reflect growth from the peak of joblessness in April, which was nearly 15%. Today, Senate Majority Leader said that he will be preparing a vote on … Read more

CAPITAL MARKETS WEEKLY UPDATE

Macro Commentary:  Month over month CPI came in at 0.6% on Wednesday, above market estimates of 0.3%. Auto and apparel led the gain in prices, rebounding from the low-points of the lockdowns. Although gaining in prices, auto sales were weak in July, dragging down Friday’s retail sales number to 1.2% after survey estimates predicting 2.1%. … Read more

WEEKLY READING LIST

Greetings, Welcome to the latest edition of Leumi’s Weekly Reading List. I hope that you and your loved ones are healthy and out of harm’s way. While today’s interest rate environment is quite beneficial to those looking to refinance their mortgages, it is equally detrimental to those looking for income. Therefore, we begin this week’s … Read more

CAPITAL MARKETS WEEKLY UPDATE

Macro Commentary:  The macroeconomic data continues to come in better than feared, and in some cases actually quite good.  The Labor Department reported 1.76 million jobs were added back to the economy in July (vs 1.48 million expected) and the unemployment rate ticked down to 10.2% (versus 10.6% expected) down from last month’s 11.1% reading.  … Read more

Leumi Small Business Initiative

COVID-19 is an unprecedented global pandemic that has changed the world and created new norms. Very quickly, it went from not only a medical pandemic but also a financial one. Many businesses are now experiencing shock they may not recover from. The journey towards recovery is going to be long, and as New York is … Read more

CAPITAL MARKETS WEEKLY UPDATE

Macro Commentary:  Moderna Inc.’s Covid-19 vaccine has become the first to be tested in a large scale study in the U.S. The vaccine will be tested at 89 U.S. sites and have 30,000 test participants. Dr. Anthony Fauci says early results could be available by November or December. Senate Republicans unveiled their next stimulus package … Read more

CAPITAL MARKETS WEEKLY UPDATE

Macro Commentary:  President Trump has said daily public briefings on the pandemic will resume as multiple states are seeing upswings in infections. New York City entered its final Phase Four reopening yesterday, which involves the resuming of professional sports (with no fans) and the opening of low-risk outdoor arts and entertainment. Gyms, indoor restaurant dining, … Read more

Weekly Reading List

Greetings,  After a few weeks off, welcome to the latest edition of Leumi’s Weekly Reading List.  I hope that you and your loved ones are healthy and out of harm’s way.    On the June 26th writing of this piece, the first article I linked to discussed the accelerating number of COVID-19 cases in many … Read more

Conversation on Paycheck Protection Program (PPP) Loan Forgiveness

We’ve partnered with Warshaw Burstein to review key aspects of recent PPP loan forgiveness developments based on the PPP Flexibility Act of 2020 and the latest SBA rules. Join our panel of experts followed by a live Q&A Session. The conversation will be moderated by Douglas J. Meyer, Senior Vice President and Group Head of … Read more