PacWest Banks Sells CRE Loans as Fed Jawboning Gets Underway

PacWest Bancorp stock is surging this morning on the news that the troubled bank has sold a portfolio of 74 of Commercial Real Estate loans with a face value of $2.6 billion. Meanwhile the Federal Reserve is lining up a cast of several Fed Governors who are set to make speeches this morning in yet another chapter of Federal Reserve "Jawboning" where central bankers attempt to move markets with words rather than policy.

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