Real estate agents perform a critical function in the American housing landscape, bringing buyers and sellers together and making certain each side is responsibly represented. Recently, however, a number of class-action lawsuits and a Department of Justice (DOJ) investigation have been initiated against all the largest national real estate brokerages. These attacks contend that, because
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Major credit ratings agencies this week downgraded China’s most indebted property developer Evergrande, as concerns over Asia’s junk bond sector rise.  Fitch Ratings on Wednesday downgraded China Evergrande one notch from B to CCC, saying that the negative developments surrounding Evergrande may weaken investor confidence, further pressuring its liquidity.  A rating of CCC means there’s
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The Federal Reserve has toyed for years with opening something called a standing repo facility to prevent short-term rates markets from blowing up. Following a 2019 disruption and another early in the pandemic, the central bank finally took that step. The Marriner S. Eccles Federal Reserve building Bloomberg News The permanent repurchase-agreement facility, one for
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China’s securities regulator has sought to ease concerns among international investors and banks after tough new restrictions on private education companies sent shockwaves through markets. Regulators in Beijing held a call with executives from global investors, Wall Street banks and Chinese financial groups on Wednesday night, according to three people familiar with the matter. One
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The Puerto Rico Oversight Board reached a deal for an improved treatment of the Puerto Rico Infrastructure and Finance Authority rum tax bonds with two bond insurers, which had been key opponents of the central government debt deal. The board announced the deal with Ambac Assurance and Financial Guaranty Insurance Company Tuesday morning in a
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Decentralized finance (DeFi) remains one of the fastest-growing subsectors of the cryptocurrency ecosystem and newly launched platforms looking to grow their userbase and attract liquidity typically offer high-interest staking pools for the first few weeks after launching.  One new project that has steadily gained traction in terms of user growth and total value locked (TVL) since
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Municipals were slightly firmer in secondary trading while new-issues were repriced to lower yields from initial pricing wires. U.S. Treasuries were stronger and equities sold off ahead of the FOMC meeting Wednesday. The current market technicals combined with a slowdown in issuance is creating a general malaise in the municipal market, according to a New
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Developers of privacy-oriented cryptocurrency Monero (XMR) have identified a bug that could potentially impact users’ transaction privacy. On Monday, the official Monero Twitter account warned users of a “rather significant bug” that has been spotted in Monero’s decoy selection algorithm, a system designed to hide real output transactions among 10 decoys in a ring. First
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