JPMorgan Triumphantly Seizes First Republic Following Fourth Dramatic Bank Collapse This Year
JP Morgan Chase has won the auction to take over the fallen First Republic Bank, according to the Federal Deposit Insurance Corp’s announcement. The deal will see America’s largest bank, JP Morgan Chase, assume all the deposits and “substantially all the assets” of First Republic, which became the fourth US bank to fail this year. […]
“Snail Mail Shock: Double Stamp Price Hike Hits Your Wallet in 2021!”
On Monday, the U.S. Postal Service (USPS) announced its proposed price increases to combat the ongoing issue of heightened inflation and rectify previous defective pricing models. Among the announced increases is a 4.8% hike for the “forever” first-class stamp, which would go from 63 cents to 66 cents. If the proposed rates are approved by […]
“Mexican Peso Bounce Back: Near-shoring Boom Amid $6B Nationalization Deal”
The Mexican peso is currently experiencing a sell-off, but ING economists believe that Mexico’s “new nationalization” initiative should not have a negative impact on the currency. The recent sell-off appears to be driven by a corporate finance deal announced earlier this week, in which the Mexican government is purchasing 75% of the Mexican gas and […]
“US Dollar’s Bleak Outlook: Credit Suisse Foresees Drop to 98.98 Amid Economic Uncertainties”
The recent rebound in the US Dollar Index seems to be over. Economists at Credit Suisse are maintaining a tactically negative outlook, looking for a move back to the 100.82 year-to-date (YTD) low and eventually target stronger support at 98.98/97.89. They remain skeptical about the potential for a continued recovery in the US dollar, given […]