The population of the planet is set to hit 8 billion Tuesday, according to projections from the United Nations that forecast the number will grow to 8.5 billion by 2030 as life expectancy rises.
Miami Beach Development
Miami Beach voters in a series of referendums last week derailed three major real-estate projects from top U.S. developers, reflecting a budding backlash against certain new development plans for the city.
Bank’s Bond Holdings
For the U.S. lender's KBW Bank Index, the combined balance-sheet value of held-to-maturity bonds was $2.21 trillion as of Sept. 30. The market value was $1.91 trillion, or 14% less.
Inflation Outlook
Derivatives markets show that traders believe the consumer-price index will rise by about 3.3% over the next 12 months. At the end of September, expectations were for 2.3% inflation.
Election Day
Be sure to vote.
AirBNB Cleaning Fees
The cleaning fees that customers of Airbnb Inc. have long complained about will soon become more apparent early in searches for lodging. Starting in December, the company will allow guests to filter their search results by the total cost of the stay before taxes.
Hotel RevPAR
Year-to-date, rising interest rates, historic inflation and geopolitical volatility have so far had limited negative impact on the U.S. lodging industry’s performance, evidenced by YTD RevPAR surpassing 2019 levels by 6.4%.
Endowment Returns
The median result for endowments and foundations in the fiscal year ended June 30 was a 7.8% loss—the worst showing since 2009.
Fed Losses
Higher interest rates at the Federal Reserve are causing the central bank to now pay out more in interest expenses than it earns in interest income.
PE Real Estate
Real-estate funds managed by private-equity firms have raised $112.8 billion from pension funds and other institutional investors as of Oct. 20. That's down from $157.9 billion in the same period last year.