For the U.S. lender's KBW Bank Index, the combined balance-sheet value of held-to-maturity bonds was $2.21 trillion as of Sept. 30. The market value was $1.91 trillion, or 14% less.
Inflation Outlook
Derivatives markets show that traders believe the consumer-price index will rise by about 3.3% over the next 12 months. At the end of September, expectations were for 2.3% inflation.
Election Day
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AirBNB Cleaning Fees
The cleaning fees that customers of Airbnb Inc. have long complained about will soon become more apparent early in searches for lodging. Starting in December, the company will allow guests to filter their search results by the total cost of the stay before taxes.
Hotel RevPAR
Year-to-date, rising interest rates, historic inflation and geopolitical volatility have so far had limited negative impact on the U.S. lodging industry’s performance, evidenced by YTD RevPAR surpassing 2019 levels by 6.4%.
Endowment Returns
The median result for endowments and foundations in the fiscal year ended June 30 was a 7.8% loss—the worst showing since 2009.
Fed Losses
Higher interest rates at the Federal Reserve are causing the central bank to now pay out more in interest expenses than it earns in interest income.
PE Real Estate
Real-estate funds managed by private-equity firms have raised $112.8 billion from pension funds and other institutional investors as of Oct. 20. That's down from $157.9 billion in the same period last year.
Health Insurance Costs
For 2022, annual premiums for an employer-provided family plan were $22,463 with employees paying $6,106 of the total. The average cost of an employer health plan for an individual for 2022 was $7,911.
Muni Private Lending
During the three months ended in May 2020, the amount of municipal debt sold privately spiked to 13.4%, the highest share in 13 years on record. It has since retreated to about 8%, or around $36 billion—up from 4% in 2012.