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News From the Control Tower - 9-30-2020 Thumbnail

News From the Control Tower - 9-30-2020

News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.

This week’s reads include:

1. ArcelorMittal to Sell Steel Business in U.S. to Cleveland-Cliffs

The $1.4 billion deal comes as the coronavirus pandemic hurts industry prices and demand

2. BTS to become multi-millionaires after label goes public

In K-Pop news…

3How Stories Drive Financial Behavior--and What to Do About It

Reaching financial prosperity can start by becoming the hero of your own financial narrative.

4. Destruction of value in US real estate revealed

Commercial properties in difficulty are being valued at less than 75% previous level, appraisal data show

5. Bonds Are Beating Stocks in Topsy-Turvy 2020

The largest domestic holder of U.S. government debt was the Federal Reserve, followed by retirement plans run by the federal government

Bonus - Horseshoe crab blood is key to making a COVID-19 vaccine—but the ecosystem may suffer.

Atlantic Horseshoe Crabs have a milky blue blood. Each year, millions of crabs are captured, bled and released. The blood is used in almost all pharmaceutical vaccines, one of which being a Covid-19 vaccine. Conservationists worry the animals, which are vital food sources for many species along the U.S. East Coast, will decline in number.