(New York)

The market has been hard on special purpose acquisition companies (SPACs) as prices have fallen dramatically…see the full story on our partner Magnifi’s site

(New York)

After a consistent rise in yields in late February and March rates are finally falling. However…see the full story on our partner Magnifi’s site

(New York)

IBM stock price rose about 4% on trading last week as the company had its first market-beating earnings report in some time and…see the full story on our partner Magnifi’s site

(Boston)

Healthcare has been one of the predominant stories of the pandemic, but its stock prices…see the full story on our partner Magnifi’s site

(Washington)

Ask any high earning northerner about the worst element of Trump’s tax cuts, and you will invariably here the same answer: the introduction of the SALT cap (state and local taxes). The puny cap sent effective tax rates spiking in higher tax states and helped propel a migration southward. Well, that mostly hated legislation might be headed for extinction as calls from lawmakers are growing louder to get rid of it. Interestingly, the push to get rid of it is not coming from Republicans, but Biden’s own party, since it disproportionately affects blue states with high taxes. According to CNBC, “More than 20 Democrats and nine Republicans have joined a bipartisan caucus that has pledged not to vote for any legislation that doesn’t include a repeal of the SALT cap”.

FINSUM: This has always been a pretty rough piece of legislation (logical as it may be), and it is easy to see that Biden may have to compromise on this.