Highlight of the Week
U.S. Treasury Yields Surging at Fastest Pace in Months
-The yield on the benchmark 10-year U.S. Treasury note has soared above 1.5%, a 3-month high.
-Investors pulled $1.2 billion out of tech funds during the week ending 9/22. The latest swing comes with many investors weary about the prospect of rising interest rates caused by coronavirus and supply-chain disruptions.
Mastercard Creates “Buy Now, Pay Later” Installment Loan Program
-“Buy now, pay later” has become a competition between banks and FinTechs hoping to issue installment loans. These increasingly popular loans let buyers split up purchases through interest-free, monthly payments.
-The program demonstrates how consumers have power in determining how they would like to pay. Some, however, worry about the added debt burden on younger consumers.
LA Clippers Sign $300-Million Arena Sponsorship Deal With Aspiration
-A California-based online bank that boasts of “green” business practices has landed a more than $300-million deal to sponsor the Los Angeles Clippers’ new home. The Clippers are hoping to offset the $1.2-billion cost of the arena.
-Aspiration allows its customers to choose how much they pay for banking services and promises to not put any money into funding the coal or oil industries.
Braves Closer to Division Title
-Charlie Morton threw 7 shutout innings against the Phillies to extend the Braves’ division lead to 3.5 games. They host the Phillies again Wednesday/Thursday.