Highlight of the Week
Deutsche Bank Dodges Archegos Meltdown and Reports Record Profits
-Deutsche Bank reported its strongest quarter in seven years thanks to a 32% YoY increase from its Investment Bank.
-The bank also saw lower charges on bad loans, showing customers are weathering the pandemic successfully.
Rate Curves
Rapid Report:
COVID-19 Eclipses 3 Million Deaths Worldwide
-COVID-19 has registered 149 million cases and about 3.2 million deaths worldwide.
-The U.S. has registered 32.9 million cases and has surpassed 587 thousand deaths.
-Georgia has registered about 1.1 million cases and over 20 thousand deaths.
AARC to Host Second SOFR Symposium
-The Alternative Reference Rate Committee (AARC) will be hosting it’s second SOFR symposium on May 11. Participants can register at Summary – The SOFR Symposium: The Final Year (cvent.com).
-Participants can expect discussion on the state of SOFR Term Rates, credit sensitive alternatives, and borrower/lender feedback on SOFR adoption.
President Biden to Propose $1.8 Billion Tax Plan Aimed at Families
-As part of a $1.8 trillion “American Families Plan”, President Biden is proposing an increase of the top tax bracket from 37% to 39.6%.
-In addition, for those households that make more than $1 million, capital gains taxes will increase from 20% to 39.6%.
