Global regulators and other authorities have consistently reiterated that USD LIBOR would no longer be available after December 31, 2021, but recently the ICE Benchmark Administration (IBA), signaled to the market that USD LIBOR for the most liquid maturities is now likely to continue to be published until June 30, 2023.
Manufacturing
The purchasing managers index for the U.S. manufacturing sector rose to 57.1 in December from 56.7 in November. That was the biggest improvement since September 2014.
Wyndham Destinations
Wyndham Destinations is buying the Travel + Leisure publication from Meredith Corp. for $100 million. In addition to its eponymous magazine, the combined company would have 18 resort, travel-club and lifestyle-travel brands. Wyndham Destinations, which spun off Wyndham Hotels & Resorts Inc. in 2018, plans to change its name to Travel + Leisure Co. and trade under the ticker symbol “TNL”.
SPACs
The use of what are called blank-check companies, which go public with no assets and then merge with private companies, surged in 2020, raising a record $82.1 billion in 2020, up from $13.5 billion in 2019.
Lodging Index
Although the FTSE Nareit Equity Lodging/Resorts Index surged in November following news of successful vaccine trials, it was still down 25% in 2020.