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The pool is diversified by brand, but faces staffing and operational pressures prevalent in the restaurant sector. Also, malls comprise 60% of systemwide sales (SWS) for Auntie Anne's and Cinnabon combined.
November 8
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Of the 22 sales analyzed, all of 30-year bonds, subsequent moves in stocks were bigger than for monthly payrolls data – which traders typically sweat over to assess the health of the economy and Federal Reserve policy.
November 8
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The company missed revenue projections, and it's trying to tap other funding strategies amid a "difficult lending environment."
November 8
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The deal also includes exchangeable notes, initial over-collateralization of 1.00%—that can build to a target of 100%, and a reserve account funded at about 1.50% of the pre-funded pool balance.
November 8
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Total initial hard credit enhancements to vary, however, with levels of 8.85% and 6.85% on the class A and B notes, respectively.
November 7
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The San Carlos, California, consumer lender said it's "exploring strategic options" for its credit card portfolio, discontinuing its investment and retirement products and sunsetting a partnership with Sezzle in addition to embarking on a new round of job cuts.
November 7
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As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.
November 7
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Often a harbinger of recessions, the fact that short-term yields are higher than long-term is not inherently bad, Federal Reserve Gov. Chris Waller said Tuesday, noting that in this case it could prove that market expectations are anchored.
November 7
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On average, the borrowers have a non-zero FICO score of 723, the same as VZMT 2023-6, Fitch said. Accounts with upgrade eligibility account for 56.12% of the pool, slightly lower than the previous deal.
November 7
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The Consumer Financial Protection Bureau released a report last week examining state CRA laws that have a more expansive scope and are more tightly integrated in the state licensing process.
November 6
