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The days when blue-chip firms borrow super cheaply for decades are gone, at least for now. Corporate treasurers have instead been turning more to commercial paper.

The deal’s average receivables balance, and collateral APR are both higher, but its WA FICO score has slipped, compared with the program’s previous deal.

The difference between rates on where three-month bills are now and where they will be in 18 months has tumbled about 95 basis points in July, the biggest monthly decline in data starting in 1996.

The Consumer Financial Protection Bureau said “time is running out” for military student loan borrowers to obtain debt relief under the Public Service Loan Forgiveness program.

The deal includes loans, for which Foursight has purchased insurance policies to cover any deficiency balances on the defaulted contracts and liquidation proceeds.

To bond investors hit by deep losses this year, it may mean any further pain will be short-lived, as a recession will spark the US central bank to cut rates next year.

Fitch lowered its outlooks to ‘neutral’ from ‘improving’ for the hotel, industrial and multifamily CMBS sectors while DBRS expects falling CMBS payoff rates.

The McLean, Virginia, company is starting to “trim around the edges” of its auto portfolio, CEO Richard Fairbank said. That move stands in contrast with Capital One's leaning into its credit card business, which helped push marketing spending above $1 billion.

US Treasury yields tumbled after weaker-than-expected economic data reversed early selling pressure in the wake of a half-point rate hike by the European Central Bank.

MF1 2022-FL10, MF1’s third this year, securitizes 24 floating-rate mortgage loans secured by 34 transitional multifamily and manufactured housing properties.