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.
Nationwide, the median sales price of an existing single-family home last quarter was up 8.6% from a year earlier to $398,500, according to NAR, a slowdown from the second quarter’s 14.2% pace.
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.
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.
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%.
Office-leasing volume declined 40% in the biggest U.S. cities in the third quarter, compared to pre-pandemic levels.
Hyatt has been testing bookable personal gyms, most of them in a converted guest rooms, available by the hour. They are separate from the hotels’ regular fitness centers.
The median result for endowments and foundations in the fiscal year ended June 30 was a 7.8% loss—the worst showing since 2009.
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.
