SoftBank and Apollo Global Management are in discussions for creating a fund worth more than $20 billion to invest in artificial intelligence infrastructure including chip manufacturers and data centers.
Capital Call Loans
Goldman Sachs this month sold $475 million of public asset-backed securitization, or ABS, bonds backed by loans the bank makes to fund managers that tide them over until cash from investors comes in. The first-of-its-kind deal is a lucrative byproduct of the New York bank’s push into loans to investment firms, such as these so-called capital-call lines.
Retail Space
A lengthy stretch of scant new construction of retail real estate, combined with demand from expanding retailers, has reduced a longstanding property glut. Retail availability sits near record lows.
Home Prices
Median new-home prices were down on a monthly basis for much of the past year. The most recent decline of nearly 5% in August brought them to roughly $420,000. Prices for previously owned homes, meanwhile, have hit record highs.
Retail Sales
Over the past 12 months, retail sales have climbed 1.7%.
CLO ETFs
A dozen Collateralized Loan Obligation ETFs have entered the market in recent years and now have about $16 billion in assets under management.
RevPAR Growth
RevPAR growth is projected to improve in the second half of the year, increasing by 2% compared to only 0.5% in the first half of 2024.
401(k) Savings
Some 64% of job-switchers got a raise, but only 44% maintained or increased their 401(k) savings rate.
Private Credit
Rapid growth over the past decade has fueled the private credit industry’s rise into a $1.7 trillion market.
Office Refinancing
Only 30% of the office loans worth more than $100 million that matured this year were paid back on time, with the rest either getting extensions or defaulting. By comparison, 70% of loans worth less than $10 million were paid back on time—a sign that lenders are much more comfortable issuing smaller mortgages for now.