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Investors in Royal Caribbean Cruises Could Benefit from Keeping Company Afloat
Investors can get an extra yield of 5 percentage points from lending to Royal Caribbean Cruises for the next few years than they can get from U.S. Treasuries. That is up from just 1.5 percentage points from the end of last year.
The extra yield reflects the fact that cruise lines have stopped earning revenue ever since the pandemic forced them to dock all their ships. But that doesn’t necessarily mean the bonds should trade that cheaply, especially with vaccines on the way.
According to a new analysis from GMO, an asset manager, Royal Caribbean’s shareholders should be able to absorb the current rate of cash burn for years. Add in the collateral value of the ships and it’s possible that investors are getting a lot more yield than they would need to compensate them for the risk of credit losses.
Louisiana s third-quarter personal income falls farther than national average ktbs.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ktbs.com Daily Mail and Mail on Sunday newspapers.
Louisiana’s Q3 personal income falls further than national average
Personal income in Louisiana fell more than the rest of the nation’s during the third quarter of the year as federal pandemic relief dwindled, according to a federal report released Thursday.
State personal income fell 13.8 percent at an annual rate, compared to an average nationwide decline of 10 percent, according to the federal Bureau of Economic Analysis. Annualized growth rates show the rate of change that would have occurred had the pattern observed during a given three-month period been repeated over a full year.
Net earnings actually went up during the third quarter, the BEA report shows. But that increase was more than offset by a larger decrease in transfer receipts, which include government release payments.
16 States Where Poverty Is Worse Than You Might Think
As the United States endures its 10th month of the health and economic crises resulting from the COVID-19 pandemic, many Americans continue to face serious economic hardship. While some managed to keep above the poverty threshold, many were pushed into poverty or deeper poverty.
Funds from the CARES Act, which Congress passed in late March to provide some economic relief during the pandemic, appear to be drying up, and the nationwide economic recovery has been slowing considerably in recent months. Approximately 21.9 million jobs were lost between February and April. While a little over half of that loss 12.3 million jobs were recovered over the following seven months, the 245,000 jobs employers added in November was the lowest job gain since the March-April crash.