Defaults on leveraged loans hit $6 billion in August, the highest monthly total since October 2020, when pandemic shutdowns hobbled the U.S. economy. This sprawling loan market doubled over the past decade to about $1.5 trillion.
The aggregate transaction value of private-equity and venture-backed investments in oil and gas has been just $4.4 billion so far this year compared to the peak in full-year 2014 of $49.5 billion. Meanwhile, there has been nearly $11 billion worth of investments in renewable-energy sources such as solar and wind so far this year, on track to surpass oil and gas for the first time.
The Federal Reserve Bank of New York President said that combating high inflation is likely to require lifting the central bank’s benchmark short-term interest rate above 3.5% and holding it at that level through next year.
Investors hit their all-time high of 93,700 homes purchased in Q3 2021. The second quarter of 2022 was lower at 87,500 U.S. homes, but it was still up 5.9% over the comparable period in 2021, and investors continue to buy more homes than they did pre-pandemic.
Exchange-traded products linked to commodities recorded their biggest outflow ever in July as investors pulled a net $11.2 billion out of the funds.
The FTC issued 42 letters of investigation over mergers or similar transactions during the 2021 fiscal year, almost double the number for 2020 and the highest in more than 10 years.
Home prices have hit new highs as the inventory of homes for sale held below historical levels. The median single-family existing-home sales price rose 14.2% in the second quarter from a year ago to $413,500.
Public pension plans lost a median 7.9% in the year ended June 30, their worst annual performance since 2009.