Saturday,
September 25, 2021
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Top Story
The Week in Review
This week, traders have been monitoring the potential collapse of the Chinese real estate company Evergrande (EGRNF). News that the company would not be able to pay back $83.5 million in debt sent stocks tumbling early in the week. Investors were concerned that the company going bankrupt could send shockwaves across China’s economy and global markets.
Meanwhile, traders reacted to the Federal Reserve’s announcement that it does not plan to scale back its monetary policies in the immediate future. Since the onset of the pandemic, the central bank has been purchasing $120 billion worth of treasuries and mortgage-backed securities to prop up the struggling economy. Investors were wondering if the Fed would announce plans to taper these programs after its two-day meeting which ended Wednesday. But the bank is keeping its policies in place—at least for the time being. A tapering announcement could come in November, depending on the strength of the labor market and inflation trends.
Existing home sales in the US fell 2% in August on a monthly basis. Total sales for the month were down 1.5% from a year ago. This decrease is largely being driven by a lack of existing supply, especially at affordable price points. But demand hasn’t slowed, so prices are growing faster than incomes which is putting pressure on first-time and entry-level buyers.
For more economic news and how it affects your money, visit the SoFi app.
The Important Part: Investing with Liz Young Coming on September 28th
The Important Part: Investing With Liz Young, a new podcast from SoFi, takes listeners through today’s top-of-mind themes in investing and breaks them down into digestible and actionable pieces.
Each month, Liz Young, Head of Investment Strategy at SoFi, delves into investing topics such as clean energy, inflation, market cycles, and crypto assets with special guests to get to the important part—why it matters to investors as they work toward their wealth-building goals.
This show is the place to come for understanding how to approach your investments, with the inside scoop from those who are armed with the knowledge to help you do so. Subscribe now on Spotify, Apple, or wherever you get your podcasts to hear episodes every month starting September 28th.
