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August 2020 Economic Snapshot
Posted on August 11th, 2020
A second wave of mandatory business closures that transpired throughout the country is expected to have more challenging ramifications for many employers than the first wave of shutdowns. The amount of stimulus funds and stimulus programs available to small businesses and individuals was substantial following the initial wave of closures and lock downs in March […]
Using 401k & Retirement Assets During The Crisis
Posted on August 6th, 2020
Provisions initiated by the CARES Act, allows for the withdrawal of retirement plan assets with waived penalties and minimized tax liabilities. During the current tax year, retirement account owners will be able to withdraw funds from 401k plans, tax deferred plans, and IRAs without any penalties. Loan limitations on company sponsored 401k plans will also […]
American Travelers Banned from EU
Posted on August 3rd, 2020
The European Union (EU) remained closed to U.S. travelers this past month despite borders opening up to residents from other countries as of late June. In response to the steady increase of reported COVID-19 cases within U.S. borders, the EU extended the original July 1st travel ban suspension noting epidemiological factors as the justification. The […]
Federal Reserve Now Making Business Loans
Posted on July 30th, 2020
On top of their trillion dollar QE and bond purchase programs funneling money into the market, the Federal Reserve has taken the even more extreme step of lending directly to small and medium businesses with their new Main Street Loan program. The program is designed to help credit flow to small and medium sized businesses […]
Pandemic Unemployment Hitting Young Workers Hardest
Posted on July 27th, 2020
Unemployment has hit younger workers the hardest, with roughly 25% of workers ages 16 to 24 losing their jobs from February to May due to the virus outbreak. Traditional sectors employing mostly younger workers, such as leisure, hospitality, and restaurants, have suffered dramatic drops in business activity since the outbreak. Current conditions brought about by […]
Mortgage Foreclosure Moratorium Extended
Posted on July 24th, 2020
In an effort to help keep homeowners and renters suffering from financial burdens due to the pandemic in their homes, federal foreclosure and eviction moratoriums are being extended to August 31, 2020 from the original expiration date of June 30th. Government backed entities Freddie Mac and Fannie Mae, which back conforming mortgages, are formally extending […]
Lockbox Capital 2020 Mid-Year Review
Posted on July 22nd, 2020
The COVID-19 Market The COVID-19 pandemic has marked the changing of an era, much as the 2008 financial crisis and the 9/11 terror attacks did in preceding decades. The pandemic has already impacted our lives in innumerable ways and will continue to reshape daily life for years to come. Financial markets too have been hit […]
Small Business Loan Program Remains Open
Posted on July 17th, 2020
Three months following the administration’s launch of pandemic relief programs, major debates have arisen in response to the remaining surplus of undirected funds in conjunction with the Paycheck Protection Program (PPP). The program was established to assist small businesses with critical funds in order to remain in business during the pandemic. As the COVID-19 crises […]
July 2020 Economic Snapshot
Posted on July 14th, 2020
Concern has elevated regarding the possibility of a second wave of COVID-19 infections following a surge in cases across the country. Markets, however, continued to shrug off dismal economic data amid pandemic worries, as a sporadic easing of restrictions targeting businesses came about. The second quarter, which ended June 30th, saw a rebound in all […]
Financial Markets Firm Despite Lurking Risks
Posted on July 13th, 2020
Federal Reserve buying of debt securities continued in the second quarter under the Secondary Market Corporate Credit Facility program, which was established to maintain liquidity in the bond markets. Individual corporate bonds and ETFs have been part of the Fed’s buying program, which was launched in mid-June. Bonds purchased so far include debt issues from […]
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