Mortgage Rates Claim a Three-Month High Above 3%
(Bloomberg) The average rate on a 30-year mortgage in the US was 3.01%, an increase from 2.88% posted last week. The rate is the highest since June 24. Fig: Mortgage…
El Salvador Taking “First Steps” in Bitcoin Mining Using Geothermal Energy
(Cointelegraph) El Salvador’s president Nayib Bukele showcased a geothermal power generation facility for crypto mining about three weeks since the country accepted Bitcoin as a legal tender. The facility, alongside…
Bed Bath & Beyond Posts a 26% Fall in Q2 Revenue on Softer Store Traffic
(Bed Bath and Beyond) Bed Bath & Beyond Inc. reported net sales of $1.982 billion in the second quarter of 2021, a 26% decline from $2.688 billion from the prior…
Popular Bitcoin ATMs Prone to Multiple Attacks, Kraken Security Labs Reveal
(Kraken) Kraken Security Labs has found that the General Bytes BATMtwo (GBBATM2), a commonly used crypto ATM, is vulnerable to multiple attacks via a default QR code. Kraken established that…
Unemployment Falls to 7.5% In the Euro Area and 6.8% In the EU in August
(Eurostat) Euro area posted an unemployment rate of 7.5% in August 2021, a decline from 7.6% in July and 8.6% in August last year. EU’s unemployment was 6.8%, a decline…
Virgin Galactic Soars After FAA Clearance to Fly Licensed Spaceflights
(Virgin Galactic) Virgin Galactic stock soared more than 9% on Thursday on news the Federal Aviation Administration has cleared it to fly licensed spaceflights. FAA clearance follows an inquiry of…
Solar Power Prices Projected to Rise amid China’s Energy Crisis
(Bloomberg) The cost of solar power is set to rise following energy shortages in China that have caused a 300% jump in prices of silicon metal used in solar equipment…
Analysts Project Further Surge in Bond Yields in the Next 12 Months
(Reuters) Strategists are optimistic that the US Treasuries, which rose to the highest levels since mid-June, could reach 1.9% in 12 months, 40 basis points from the current level. Fig:…
Chip Shortages Drive the Demand for Pre-Owned Vehicles in the US
(IHS Markit) Sales of certified pre-owned vehicles rose up to 1,218,255 units from January to July 2021, an 11% increase from the comparable period of last year. Fig: YoY CPO…
UK GDP Beats Estimates to Post a 5.5% Growth in the Second Quarter
(ONS) UK gross domestic product expanded by 5.5% in the second quarter of 2021, up from a prior estimate of 4.8% increase following the lifting of Covid-19 restrictions. Fig: UK…
China Manufacturing Improves Despite High Inflation and Low Employment
(IHS Markit) China’s manufacturing conditions stabilized in September, with the adjusted PMI rising to 50 from 49.2 in August. The index was at the second-lowest in 17 months. Fig: China…
US Crude Refinery Inputs Surge by 67,000 bpd as Inventories Rise
(EIA) The total crude refinery inputs in the US in the week that ended September 24 was 15.4 million barrels per day, up by 67,000 bpd from the previous week.…
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