Insurance

Europe Sees Deeper Slump; Melbourne Locks Down: Virus Update

(Bloomberg) — European officials expect a deeper economic slump than previously estimated this year, while German industrial production rose less than forecast in May, underscoring the challenge faced by the continent after months-long shutdowns.

Melbourne will be locked down for six weeks after new cases in the Australian state of Victoria jumped by 191, the biggest daily increase since the outbreak began. In contrast, Beijing reported no new infections for the first time in nearly a month.

The pace of new infections from Tokyo to Iran and Australia is raising concerns about another virus wave. U.S. cases are approaching 3 million, while deaths in India have risen above 20,000. Any vaccine would likely be limited in how long it can shield against infection, the top U.S. infectious disease expert Anthony Fauci warned.

Key Developments:

Global Tracker: Cases top 11.5 million; deaths exceed 537,000Beijing reported no cases. Here’s how the city

Read More

GOP Congressman’s Argument Against Mandated Mask Wearing, Vaccinations Goes Awry

Rep. Thomas Massie (R-Ky.) got schooled on Twitter over this tweet arguing against the mandated wearing of face masks and compulsory vaccinations aimed at mitigating the spread of the coronavirus:

Many tweeters reminded Massie of George Washington’s decision to vaccinate the Continental Army against smallpox.

Others called out the GOP congressman for appearing to rail against wearing masks, which public health experts worldwide have said is a cheap and easy way to curb COVID-19.

Read More

Murphy Says We May Have To Stay Home Again

HOBOKEN, NJ — After saying on Saturday that the Hoboken Heath Department reported 13 new coronavirus cases Thursday and Friday, the most since mid-May, Mayor Ravi Bhalla sent out what he said was an “urgent appeal” on Monday.

“I’ve been in touch with Governor Murphy’s staff who have indicated to me that if rates of infections begin to rise, not only could certain re-openings be put on hold, but our state may again resort to stay-at-home orders to curb a further spread,” Bhalla said in a release. “According to the governor, today New Jersey had a rate of transmission (the rate COVID-19 spreads from one person to someone else) of over 1.0 for the first time in 10 weeks. In other words, every COVID-19 case is leading to at least one other infection, on average.”

Bhalla had a request:

“If you traveled to states on New Jersey’s quarantine list, quarantine

Read More

16.3M homeowners are missing out on mortgage savings, report says

Mortgage rates have fallen to new all-time lows so many times this year that it’s almost getting routine. “Really? Again?”

But if you’re a homeowner, don’t let me catch you yawning, or shrugging off these milestones. Because a new record low means there are more old mortgages out there that are worth refinancing at lower interest — maybe including your current loan.

Thanks to the latest new floor for mortgage rates, more than 16 million mortgage holders are now good refi candidates and are missing out on hundreds of dollars in savings per month, according to a report released Monday by the mortgage data firm Black Knight.

Find out whether you’re in that group.

As rates slide, opportunities open up

Andrii Yalanskyi / Shutterstock

Rates on 30-year fixed-rate mortgages dropped last week to an all-time-low average of 3.07%, according to mortgage giant Freddie Mac, which has been conducting weekly

Read More

Right-Wing Media Outlets Duped by a Middle East Propaganda Campaign

Photo Illustration by The Daily Beast/Getty
Photo Illustration by The Daily Beast/Getty

If you want a hot take about the Middle East, Raphael Badani is your man.

As a Newsmax “Insider” columnist, he has thoughts about how Iraq needs to rid itself of Iranian influence to attract investment and why Dubai is an oasis of stability in a turbulent region. His career as a “geopolitical risk consultant and interactive simulation designer” and an “international relations senior analyst” for the Department of Labor have given him plenty of insights about the Middle East. He’s printed those insights at a range of conservative outlets like the Washington Examiner, RealClear Markets, American Thinker, and The National Interest.

Unfortunately for the outlets who published his articles and the readers who believed them, Raphael Badani does not exist. 

His profile photos are stolen from the blog of an unwitting San Diego startup founder. His LinkedIn profile, which described him

Read More

16.3M homeowners miss out on mortgage refinance savings

Mortgage rates have fallen to new all-time lows so many times this year that it’s almost getting routine. “Really? Again?”

But if you’re a homeowner, don’t let me catch you yawning, or shrugging off these milestones. Because a new record low means there are more old mortgages out there that are worth refinancing at lower interest — maybe including your current loan.

Thanks to the latest new floor for mortgage rates, more than 16 million mortgage holders are now good refi candidates and are missing out on hundreds of dollars in savings per month, according to a report released Monday by the mortgage data firm Black Knight.

Find out whether you’re in that group.

As rates slide, opportunities open up

Andrii Yalanskyi / Shutterstock

Rates on 30-year fixed-rate mortgages dropped last week to an all-time-low average of 3.07%, according to mortgage giant Freddie Mac, which has been conducting weekly

Read More

50 Brands With Lifetime Warranties

You might think buying products at bargain-basement prices is the best way to save money. However, the truth is that name brands are often the better bet for items you want to stand the test of time. From touted toolmakers to outdoor outfitters, many of your favorite companies offer warranties covering their wares for the span of the buyer’s lifetime — or even beyond. Before you buy, know who has the best policies.

Not only does Aldi offer tons of savings, but the low-priced grocer also impresses with its famous Twice as Nice Guarantee. If you’re not satisfied with a product, Aldi will both replace it and refund your money. Just make sure to return the packaging and any unused product to your local store manager. This guarantee does not apply to nonfood Aldi Finds items, alcohol, national brands and items being returned for reasons that are unrelated to quality.… Read More

5 Best Stocks of Q2 With Double-Digit Growth Potential

Wall Street wrapped up its best quarterly performance in decades buoyed by a combination of unprecedented levels of fiscal and monetary stimulus, a technology sector boom, hopes of a coronavirus vaccine and easing of lockdown measures.

Nasdaq outperformed, having climbed 30.6% — the best since fourth quarter 1999. The S&P 500 and Dow Jones gained 20% and 17.8%, respectively. The former had its biggest single-quarter surge since 1998 and the latter logged in the best quarter since 1987. This marks an impressive comeback for the stocks from the worst first quarter since the 2008 financial crisis due to the coronavirus pandemic, which had halted economic activities and resulted in millions of people losing their jobs.

In fact, the impressive gains came despite the resurgence in coronavirus infections in some parts of the United Sates after reopening. Per the latest report, the United States has recorded nearly 156,000 new coronavirus cases

Read More

3 Cybersecurity Stocks to Watch

Organizations across the world have been fretting over the issue of cybersecurity for long. The ever-evolving nature of cyberattacks makes it difficult for organizations to keep pace. Cyberattacks are responsible for massive losses and are likely to cost companies almost $5.2 trillion annually, per Absolute Markets Insights data.

Cybercriminals use various ways to attack systems, including ransomware, denial-of-service, SQL injection attack, etc. Notably, ransomware is the most profitable malware, causing maximum financial damages to an individual or organization. It infects a computer to encrypt files or systems. Typically, the victim has to cough up a ransom amount for data retrieval.

Markedly, per Coveware, ransomware is estimated to have caused global damage worth $11.5 billion to organizations in 2019.

We had got an idea about the gravity of damages caused by a ransomware when organizations were affected by two back-to-back ransomware attacks — WannaCry in May and Petya in June 2017.

Read More

Crypto Markets Are Maturing, but Gen Z Is Rewriting How Markets Work

Now, I have no idea how old you are, nor do I want to make any assumptions. I will assume, though, that since you are reading this, you have an interest in markets and/or crypto assets. And since this is a newsletter aimed at professional investors, I will assume that you care about a bit more than prices going up/down/sideways. That should put us on more or less the same page as to what we explore here. 

However, this week I want us all to question the lens through which we judge the evolution of markets. Not just crypto markets – all markets, because it is becoming increasingly clear that sooner or later the distinction will be irrelevant.

You’re reading Crypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets. Authored by CoinDesk’s head of research, Noelle Acheson, it goes out every Sunday and

Read More