Non-QM delinquencies stabilizing across recent vintages
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By most measures, Cerebras Systems (CBRS +10.30%) delivered an outstanding second quarter. The artificial intelligence (AI) computing specialist grew its non-GAAP (adjusted) revenue 103% year over year to $209.9 million. Its inference cloud business nearly quadrupled, and management raised its full-year outlook to a range of $880 million to $890 million in adjusted revenue. But…
A trophy office building in the Camelback Corridor in Phoenix sold for $86M this week in the market’s largest single-building sale of the year, the Phoenix Business Journal reported. The 10-story, 222K SF Class-A property, called Esplanade III, was purchased by Southwest Value Partners. An LLC connected to Transwestern and C-III Capital Partners was the…
The result leaves the Fed in familiar territory. Its benchmark rate has been held in the range of 3.50% to 3.75% since December, and annual inflation has now exceeded the central bank’s 2% target for 65 consecutive months. Rate decision pressure mounts ahead of Jackson Hole With the Federal Open Market Committee (FOMC) not scheduled…
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Former Miami Dolphins star Tyreek Hill has relisted his lavish Florida dwelling—just one month after removing the property from the market. The free agent, who was released by the Dolphins in March, listed the sprawling nine-bedroom, 9.5-bathroom Southwest Ranches property on the market on March 19, days after he was dropped by the NFL team….