In 2019, 13% of reporting hotels in the top 25 U.S. markets charged an average daily rate of at least $200, in 2024, that figure is just over 20%.
Money Market Income
Income generated from money markets surged to more than $27 billion in August, a record on an inflation-adjusted basis going back to 1990.
Food Wage Inflation
The gap between food-price and wage inflation between the end of 2019 and the second quarter of this year was roughly four percentage points.
CRE Foreclosures
The value of commercial real-estate loans in foreclosure nearly tripled between January and August this year to reach $19.2 billion.
Private Credit
Apollo Global Management Inc. clinched $5 billion in fresh firepower from BNP Paribas SA as it looks to grow its private lending business.
Fed Concensus
Powell has prioritized consensus building, reflected in a string of 17 meetings with no dissenting votes. That came to an end on Wednesday as some of Powell’s colleagues had implied they were more comfortable leading off with a smaller cut.
Return To Office
Only 7% of large tech companies require employees to be in the office five days a week, compared with 33% for all U.S. companies.
Wealthy Renters
Between 2018 and 2022, the share of households with annual incomes of more than $750,000 that rented rose to 10.5%, the highest level since the survey began in the mid-2000s. It was 8.4% in the previous five-year period.
Rate Cut Odds
On Monday, derivatives markets showed investors saw a 65% chance of a half-point cut. That’s up from 50-50 odds on Friday.
Corporate AMT
The Treasury Department released 603 pages of proposed rules for the corporate alternative minimum tax, or CAMT, an exceptionally complex endeavor for regulators and corporate tax executives. The proposal comes more than two years after Congress passed the law creating the tax and more than 20 months after it took effect.