Weekly Report – February 11, 2021

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Highlight of the Week

Bitcoin to Arrive at America’s Oldest Bank

-WSJ report states that BNY Mellon plans to hold, transfer, and issue bitcoin and other cryptocurrencies on behalf of its asset-mgmt. clients.

-Fidelity Investments became the first big-name financial firm to declare its interest in digital assets in 2018.

Rate Curves

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Rapid Report:

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Coronavirus Updates (as of Thursday morning)

-COVID-19 has registered 107 million cases and 2,367,000 deaths worldwide. There are over 80 million recovered cases.

-The US has accounted for over 27.9 million cases and has surpassed 483,000 deaths. The US has registered over 17.8 million recovered cases.

-Georgia has 927,000 cases and 14,966 deaths.

Jobless claims worse than expected amidst pandemic-related filings surge

-Jobless claims totaled 793,000 last week, higher than Dow Jones estimate of 760,000. The total was an overall decline from last week’s 812,000.

-More than 10 million workers are unemployed despite more than 12.5 million jobs reclaimed since the depths of the pandemic in March and April. Fed Chairman Jerome Powell stated Wednesday that the central bank is committed to keeping interest rates low until substantially more progress happens.

Atlanta’s historic Kristy Kreme restaurant severely damaged by fire

The historic Krispy Kreme store located on Ponce De Leon Avenue was heavily damaged by flames Wednesday. Shaquille O’Neal has owned the store since 2016.

Category: Market Updates
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