Municipals were little changed Wednesday as two billion-dollar-plus deals from the Dormitory Authority of the State of New York and CommonSpirit Health took focus. U.S. Treasuries were weaker and equities were mixed. The two-year muni-to-Treasury ratio Wednesday was at 59%, the three-year at 59%, the five-year at 57%, the 10-year at 57% and the 30-year
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A For Sale sign is posted in front of a home for sale in San Marino, California on September 6, 2023. Frederic J. Brown | AFP | Getty Images Mortgage rates swung slightly lower last week, fueling a significant jump in mortgage demand for the second straight week. Total application volume rose 7.1%, compared with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak will attempt to block the takeover of the Telegraph by Abu Dhabi-backed RedBird IMI by changing the law to stop a foreign state buying a British news organisation. The UK prime minister will
Keeping state coffers stocked and liquid requires a delicate mix of analysis, hedging and listening, with an emphasis on remaining nimble over the coming months. “Over the last eighteen months, the Fed’s told you what the answer is, and the market has continually bet against them,” said Thomas Waters, chief investment officer, Pennsylvania Treasury. ”They’ve
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US national security adviser Jake Sullivan has warned the Israeli government against “smashing into Rafah” as the Biden administration underlines its opposition to the planned assault on one of Gaza’s biggest cities. The US was
Munis were steady as the primary market took focus with the $2.8 billion retail pricing from the Dormitory Authority of the State of New York. U.S. Treasuries were weaker and equities rallied after the Consumer Price Index showed inflation ticked up in February. Bond yields didn’t move much upon the CPI release, but Treasuries grew
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Skynesher | E+ | Getty Images Factors beyond high mortgage rates are affecting housing affordability for many Americans, according to experts. Almost four years ago, a household earning $59,000 annually could afford a new mortgage without spending more than 30% of their monthly income and
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation increased unexpectedly to 3.2 per cent last month, in data set to be scrutinised by the US Federal Reserve as it decides when to reduce interest rates. Economists polled by Bloomberg had expected
Munis were steady Monday ahead of a large new-issue calendar, while U.S. Treasuries were weaker and equities ended mixed. Munis continue to see strong demand for bonds over the past several weeks, which has “pushed munis to be richer on a relative value basis versus Treasuries,” said Jason Wong, vice president of municipals at AmeriVet
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Brussels is pushing to give Ukraine €2bn-€3bn this year from profits derived from Russia’s frozen assets, accelerating the funding plan as US financial support to Kyiv wanes. The European Commission is preparing a plan,
The National Football League’s Chicago Bears are pursuing plans to build a publicly owned domed stadium in Chicago, boosted by $2 billion of private funds. The team has changed course after chasing a planned stadium development in Arlington Heights, a northwest suburb of Chicago, where talks were bogged down amid disagreements with three area school
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Telegram has 900mn users and is nearing profitability, according to the owner of the secretive messaging app, as the company moves closer to a potential blockbuster stock market listing. Pavel Durov told the Financial Times
One tool aimed at helping to solve California’s notorious affordable housing crisis appears to be headed for a crisis of its own. Defaults are rising on highly leveraged unrated workforce housing bonds, primarily issued over the last few years in California to purchase apartment buildings, when interest rates were near zero. So far, six out
Over a 40-year career, Scott Melbye watched the US uranium industry fall from its position as the world’s leading producer of the radioactive ore that powers nuclear reactors to an also-ran with negligible production. Now, the president of the Uranium Producers of America is leading an industry charge to revive mothballed mines and invest in
President Biden reignited the tax debate in his State of the Union address Wednesday, touting the progress he’s made so far in his three years in office and the amount of work still needed to be done on taxes, setting up a larger partisan battle for the coming year. “The way to make the tax
In this article TGT GRMN ET Follow your favorite stocksCREATE FREE ACCOUNT Target’s store in Harlem is one of nine locations that the retailer recently shuttered. It blamed the closures on high levels of theft and safety risks. Melissa Repko | CNBC Investors searching for a regular stream of income can give their portfolios a
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. Americans are increasingly happy about the economy but reluctant to give credit to Joe Biden, according to a new poll that underscores the US president’s challenges as he squares off against Donald Trump in this
The Financial Industry Regulatory Authority has fined NewEdge Securities, the brokerage arm of NewEdge Capital Group $90,000, in addition to restitution of $44,927.83 for charging unfair prices on 62 corporate bond transactions and six municipal bond transactions. Along with the fine and restitution, the firm has been censured for violating FINRA Rules 2121 and 2010,
The US has widened its productivity lead over Europe, sparking fears in the EU that it faces a “competitiveness crisis” as policymakers call for greater public and private investment. New data released on Friday showed eurozone productivity fell 1.2 per cent in the fourth quarter from a year earlier, while in the US it rose
A routine change of leadership on the House Committee on Transportation and Infrastructure is looking more like a power struggle in a legislative body that carries weight in public finance policy and rulings. On Wednesday Rep. Rick Crawford ,R-Ark., formally announced he was running for the Chairmanship of the T&I Committee while Rep. Sam Graves,
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