The Biden administration has established a task force to tackle the decades-old problem of home appraisals undervaluing properties in Black communities. The property appraisal and valuation equity action plan (PAVE) is aimed squarely at dismantling racial bias in the home lending and appraisal process and promoting generational wealth creation through homeownership. When enacted, PAVE represents
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Long position With a long position, you buy a stock at a certain price and sell it at a higher price as the stock appreciates in value. The profit that you make is the difference between your buy price and the price that you sell it at. Short position With the short position what happens
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Municipals sold off double-digit basis points Tuesday following continued market volatility and a rapidly rising U.S. Treasury market. Triple-A benchmark yields were cut up to 12 basis points, with the asset class unable to ignore the ongoing pressure from U.S. Treasuries, which saw yields rise another basis points . The Refinitiv MMD 10-year spot has
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The U.S. Virgin Islands is extending its tender offer to holders of some of its outstanding matching fund bonds to Friday, in advance of an expected refunding of nearly $1 billion of the remaining bonds next week. The Virgin Islands Public Finance Authority and Matching Fund Special Purpose Securitization Corporation originally solicited bondholders to participate
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Daniel Zuchnik | WireImage | Getty Images Warren Buffett’s Berkshire Hathaway purchased an additional 18.1 million shares of Occidental Petroleum for almost $1 billion on the first three days of this week. An SEC filing Wednesday shows it paid a weighted average of $54.41 per share, a total of $985 million for the new shares. At Wednesday’s
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In this article US10Y US2Y Jerome Powell, Chairman of the U.S. Federal Reserve, attends the National Association of Business Economicseconomic policy conference in Washington, D.C, United States on March 21, 2022. Yasin Ozturk | Anadolu Agency | Getty Images Traders are betting Federal Reserve Chair Jerome Powell’s tough inflation talk means the central bank will
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The United States Environmental Protection Agency formally invited the Sites Reservoir Authority to apply for a $2.2 billion loan, energizing the long-delayed massive storage project in northern California. The Water Infrastructure Finance and Innovation Act loan announcement last week comes on top of word from the California Department of Water Resources on Wednesday that the
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Municipals were steady to weaker in spots Monday, while U.S. Treasuries sold off amid Federal Reserve Board Chairman Jerome Powell warning about widespread inflation and talks over hiking interest rates quicker than the Fed initially planned last week. As a result, muni-to-UST ratios fell. The five-year was at 72%, 85% in 10-years and 92% in
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