February 25, 2020 – Weekly Report

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Highlight of the Week

Dow falls 1,032 points as Coronavirus spreads

  • The Dow and S&P 500 erased their gains for the year reflecting escalating worries that the Coronavirus will stall global growth.
  • The Yield on the 10-year Treasury fell near a record low on Monday.

Rate Curves

July2 2019 Rate Curves

Rapid Report:

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LendingClub buys Radius Bank in first FinTech takeover of regulated US bank

  • LendingClub, a FinTech company that pioneered personal loans made online, has purchased a regulated bank to provide a stable and cheaper source of funding.
  • The will pay $185 mm in cash and stock for Radius Bancorp, a Boston-based online bank with about $1.4 mm in assets.
  • FinTech firms from Robinhood to Square have applied for ways to become banks because doing so will allow FinTechs to earn better profit margins and issue new products like checking accounts.

Warren Buffett called out bank stocks as favorite equity holding

  • Warren Buffett said Monday that bank stocks are ‘very attractive compared to most other securities’ in the market.
  • Banks are among the largest holdings in Berkshire Hathaway’s portfolio, which is more than $248 billion.
  • Separately, Buffett continues to claim Crypto has ‘zero value’ and ‘do not produce’.

Bernie Sanders emerges as Democratic frontrunner

Self-proclaimed democratic socialist has emerged as favorite ahead of Super Tuesday.

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