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Well, that didn’t take long. After ending last week on a high note, markets have retreated over the past two days. It looks like two other lenders, PacWest and Western Alliance, are tumbling and will follow the path of those before them. The current market is definitely testing the durability of firms, especially banks. In other news, it is Fed interest rate decision time. It is expected that for number 10, 25 basis points is the likely choice. The interest rate currently would then be as much as 5.25%. |
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Market snapshot as of yesterday’s close: |
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Insight: STAG Industrial, Inc. (NYSE: STAG), a real estate investment trust, is joining the S&P MidCap 400 due to the cascade of effects from the failure of First Republic Bank. As a result, its stock jumped 7%. For more details, check out the news page. One that might peak your interest is PennantPark Floating Rate Capital Ltd. (NYSE:PFLT). It is a business development investment firm offering more than a 10% yield to investors. The full analysis is available on our site. You know the drill, investing always comes with some level of risk, so make sure to do your research and consult with a financial advisor before making any big decisions. Remember, stay smart, stay informed, and stay invested! |
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