The Texas House and Senate unveiled their budget plans for the fiscal 2026-27 biennium.Bloomberg News The Republican-controlled Texas House and Senate on Wednesday unveiled base budget plans for the upcoming biennium with both chambers proposing to continue funding and expand a massive property tax cut enacted in 2023. Armed with a record $39.4 billion cash
Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 5, 2019. Adam Jeffery | CNBC DoubleLine Capital CEO Jeffrey Gundlach believes the Federal Reserve is missing the bigger picture again. “The Fed looks like Mr. Magoo, driving around, bumping into things. Then became systematic, got inflation to come down,” Gundlach said in an
Burned trees from the Palisades Fire and dust blown by winds are seen from Will Rogers State Park, with the City of Los Angeles in the background, in the Pacific Palisades neighborhood on Jan. 15, 2025 in Los Angeles, California. Apu Gomes | Getty Images Insurance premiums were surging well before this year’s massive wildfires
Stay informed with free updates Simply sign up to the Fund management myFT Digest — delivered directly to your inbox. US activist Saba Capital has failed in its attempt to overthrow the board of Herald investment trust, dealing the first blow in its campaign against seven UK-listed closed-ended companies. The majority of shareholders in Herald
“The interval fund structure is well suited to the municipal market throughout a cycle,” said Alex Petrone, Rockefeller Asset Management’s director of fixed income.Rockefeller Asset Management A trio of interval funds new to the municipal bond market underscore the growing popularity of this type of closed-end fund as managers look for alternative investments that offer
<img src=”https://public.flourish.studio/visualisation/21257304/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Tuesday as U.S. Treasury yields fell and equities ended up. Muni yields were bumped one to four basis points, depending on the scale, while UST yields fell up to seven basis points out long. As the last third of January progresses, munis are in the red,
A cartoon image of US President-elect Donald Trump with cryptocurrency tokens, depicted in front of the White House to mark his inauguration, displayed at a Coinhero store in Hong Kong, China, on Monday, Jan. 20, 2025. Paul Yeung | Bloomberg | Getty Images A new securities filing Tuesday revealed that an ETF issuer is already
The Good Brigade | Digitalvision | Getty Images Mortgage rates have risen in recent months, even as the Federal Reserve has cut interest rates. While those opposing movements may seem counterintuitive, they’re due to market forces that seem unlikely to ease much in the near term, according to economists and other finance experts. That may
Kansas Gov. Laura Kelly, a Democrat, called for pumping the brakes on further tax reductions that impact the state’s bottom line.Bloomberg News With a $23.8 billion budget balance forecast for the start of its fiscal 2026-27 biennium, Texas’ financial cushion remains plush, but other Southwest states are feeling a fiscal pinch in the wake of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Ray Dalio, the billionaire founder of hedge fund firm Bridgewater Associates, warned that the UK could be heading for a “debt death spiral”, in which it has to borrow more and more money to service
“The best defense is a good offense,” said GFOA federal liaison Emily Brock of meeting with Congress to promote the importance of the tax exemption on municipal bonds.Donna Alberico With a “defense wins championships” strategy in mind, the municipal market lobby will head to Capitol Hill in the next few weeks for meetings with lawmakers
Billionaire investor Stanley Druckenmiller believes Donald Trump’s re-election renewed a jolt of speculative enthusiasm in the markets and surging optimism within businesses. “I’ve been doing this for 49 years, and we’re probably going from the most anti-business administration to the opposite,” Druckenmiller said on CNBC Monday. “We do a lot of talking to CEOs and companies on the
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage demand started this year stronger than it did last year, even though interest rates are higher. Total mortgage application volume last week was 7% higher than the same week one year ago, according to
Advisors to municipal bond issuers and borrowers, as well as rating agencies for municipal bonds, want to know that local governments and public agencies are on top of their financial and organizational management. Data-driven initiatives are one component to help monitor the goings-on of public agencies that help communicate what is and isn’t going in
It was the moment Israelis had been yearning for. On Sunday afternoon, 471 long days after they were seized by Hamas in the blackest hour of Israel’s history, three young hostages made the painstaking journey from imprisonment in Gaza to freedom in their homeland. The release of the three women — Romi Gonen, Emily Damari
MSRB Chair Warren “Bo” Daniels.MSRB The Municipal Securities Rulemaking Board Thursday announced the members of its 2025 advisory groups, including those tapped for a new group that will focus on the intersection of technological innovation and municipal securities market regulation. The advisory groups include a cross section of muni market experts who will provide insights
In this article CG WAL BWMN SNAX Follow your favorite stocksCREATE FREE ACCOUNT Jakub Porzycki | Nurphoto | Getty Images The year 2024 was quite an eventful one for the U.S. stock market, with the S&P 500 Index gaining more than 20% for the second consecutive year. Several factors, including elevated inflation and interest rates,
Cofotoisme | E+ | Getty Images How long it takes you to save for a 20% down payment on a home depends in part on where you live. In a pricey area such as New York City, it could take the typical buyer roughly 10.85 years to save $173,000, which is 20% of the median
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A truce between Israel and Hamas due to come into effect on Sunday morning has been delayed after Hamas failed to provide the names of hostages to be freed later in the day for what
Fieldman, Rolapp & Associates acquisition of G.L. Hicks deepens larger firm’s bench in healthcare finance, said Adam Bauer, Fieldman’s chief executive officer.Fieldman, Rolapp & Associates California municipal advisory powerhouse Fieldman, Rolapp & Co. started the new year with an acquisition enabling it to deepen its bench in healthcare finance. Fieldman acquired Orem, Utah-based municipal advisor
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