Highlight of the Week
Fed Stress Tests Pave Way for Dividends and Stock Buybacks for U.S. Banks
-U.S. banks are expected to issue as much as $130B in dividends and stock buybacks after passing stress tests.
-Lenders held off loan losses and weathered the pandemic-stress with help from regulatory relief, low interest rates, and government stimulus.
Rate Curves
Rapid Report:
COVID-19 Updates (As of Wednesday Morning)
-COVID-19 has registered 180 million cases and about 3.9 million deaths worldwide. There are now over 164 million recovered cases.
-The U.S. has registered 34.4 million cases and has about 618 thousand deaths.
-Georgia has registered about 1.1 million cases and about 21 thousand deaths.
Fifth Third Announces Acquisition of Healthcare FinTech Company
-Fifth Third announced an agreement to acquire Provide, a digital platform for healthcare services. Fifth Third was an early investor in Provide in 2018 and has been using the company’s platform to fund loans since 2020.
-Provide’s mission is to build financial products that make starting and running a healthcare practice easier. Their offerings include practice lending, business bank accounts, and insurance.
Atlanta Hawks Continue Unexpected Playoff Run
-The Atlanta Hawks defeated the Philadelphia Sixers 103-96 in game 7 to win the NBA’s Eastern Conference Semifinals. The Hawks will play the Milwaukee Bucks in the Eastern Conference Finals.
