The Federal Reserve is among Western central banks fighting stubbornly high inflation. Xinhua News Agency | Xinhua News Agency | Getty Images For the first time in years, Americans are in a period of rising interest rates. The Federal Reserve on Wednesday raised its benchmark rate a half-point, to cool down inflation that’s the highest
Month: May 2022
In our first-quarter municipal (muni) bond outlook, the twin risks of higher inflation and rising interest rates were a key focus. We maintain now, as we did then, that these risks could also present opportunities in certain corners of the fixed-income market, especially among shorter-duration municipal bonds. At the end of 2021 into the early
Boris Johnson will face renewed pressure on his leadership on Friday after the Conservatives suffered significant defeats in local elections across the UK, including losing the flagship London council of Wandsworth. Labour won the borough beloved of former prime minister Margaret Thatcher for its ultra-low local tax rates after 44 years in Tory hands, but
Wisconsin Capital Finance Director David Erdman will retire in July after a 32-year career with the state, the last seven in the role of debt manager during which the state won upgrades and his stature as an advocate for the issuer community grew. Erdman plans to leave the state July 2 and on July 5
People walk through the North American Bitcoin Conference held at the James L Knight Center on January 18, 2022 in Miami, Florida. Joe Raedle | Getty Images The Luna Foundation Guard has acquired $1.5 billion in bitcoin to bolster the reserves of its most popular stablecoin, known as U.S. Terra. Stablecoins are cryptocurrencies that aim
In this article SPCE LYV SG DBX ZG DASH A DoorDash sign is pictured on a restaurant on the day they hold their IPO in New York, December 9, 2020. Carlo Allegri | Reuters Check out the companies making headlines after the bell: Block — Shares rose more than 5% after hours despite Block missing
Despite bouncing from a 45-day low on April 30, Ether (ETH) price is still stuck in a descending channel and the subsequent 9% gain over the past four days was just enough to get the altcoin to test the pattern’s $2,870 resistance. Ether/USD price at FTX. Source: TradingView Federal Reserve monetary policy continues to be
Two years after enduring the devastating financial impacts of Covid-19, the U.S. economy has made an impressive comeback, in large part due to a booming housing market. But as Lawrence Yun, chief economist for the National Association of Realtors explains, there are significant questions regarding the sector’s direction over the coming months. “Housing kept the
Lumber at the site of a house under construction in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, U.S., on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Bank regulators on Thursday proposed the first sweeping changes in more than 25 years to a controversial law
Global financial markets plunged into disarray on May 5 as the Dow Jones saw a 1,063 point drop and Bitcoin (BTC) price plummeted to $35,571 on Binance. The widespread weakness comes as traders have had more time to digest the recent half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which
Yuba Water Agency officials say it’s only sheer luck that’s kept its 313,000-acre watershed in California’s Central Valley from burning. Several watersheds around Yuba’s, which suffer the same dry, overstocked conditions amid the state’s extended drought, have experienced megafires, said Joanna Lessard, the agency’s project manager for the watershed resilience and forest health program. “We’ve
The Bank of England has warned that the UK economy will slide into recession this year as higher energy prices push inflation above 10 per cent, a forecast that pushed sterling to a two-year low. Rising prices would cause the worst squeeze in household finances for many decades, the bank’s Monetary Policy Committee said as
Municipals were mixed as participants mostly sat on sidelines while U.S. Treasuries rallied on the short end after the Fed hiked rates a half-percentage point. Equities rallied to close the day. The 50 basis point rate hike is the steepest increase since 2000 and follows the 25 basis point rate hike in March. The bond
Holders of the popular memecoin Shiba Inu (SHIB), will now be able to use the cryptocurrency to purchase land in the Shiba metaverse. On Wednesday, the Shiba Inu team took to Twitter to reveal that the SHIB token could now be used to mint parcels of land in the recently unveiled virtual reality project “SHIB:
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, April 6, 2022. Brendan McDermid | Reuters How do you spell “capitulation?” F-E-A-R. That’s what this market breeds, and there has been no escape from that wild bear out for your lunch. Putting it in the starkest black and white,
The Etsy website Gabby Jones | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Etsy — Shares of the e-commerce company plunged by more than 12% after Etsy’s revenue guidance for the second quarter came in lighter than anticipated. The company CFO also said on the earnings call that “consumers
Terra (LUNA) price lost 31% over the past four weeks, erasing all of the gains accrued year-to-date and even though the token continues to outperform the broader cryptocurrency market by 20%, Terra is struggling to hold above the $85 support. Previously, a few bullish catalysts were Terra’s USD (UST) stablecoin flipping Binance USD (BUSD) to
Dubai’s residential and ultra-luxury markets have continued their upward trajectory in 2022, with demand from international buyers resulting in high competition and several record-breaking sales. Driven Properties in Dubai is a leader in the luxury and ultra-luxury market. Founder and CEO Abdullah Alajaji recently sat down to discuss 2022 market dynamics and what’s driving the
Tim Kitchen | The Image Bank | Getty Images It’s becoming harder to afford a home. Prices are up almost 20% year over year, and mortgage rates are soaring. The rate for a 30-year fixed loan is now 5.57%, according to Mortgage News Daily, up from 3.29% at the start of the year. At the
Billionaire hedge fund manager Paul Tudor Jones expects crypto to have a bright future as the Fed hikes interest rates to fight inflation. The famed investor emphasized, “It’s hard not to want to be long crypto.” Famed Hedge Fund Manager Paul Tudor Jones on Bitcoin, Crypto Billionaire investor and renowned hedge fund manager Paul Tudor
The CEOs of three large U.S. banks are raising concerns about a possible recession, saying the Federal Reserve has a tricky job ahead in combating inflation without sparking a downturn. JPMorgan Chase’s Jamie Dimon, Bank of America’s Brian Moynihan and Morgan Stanley’s James Gorman warned in separate interviews Wednesday that drastic interest rate hikes from
Brussels will propose a phased-in ban on imports of all Russian oil as member states prepare to discuss a sixth package of penalties against Moscow for its invasion in Ukraine. The ban will cover all Russian oil, seaborne and pipeline, crude and refined, European commission president Ursula von der Leyen said on Wednesday. She vowed
The U.S. economy will probably fall into a recession as the Federal Reserve combats multidecade-high inflation, Randal Quarles, the Fed’s former vice chair for supervision, said. “Given the intensity of inflation, the degree to which unemployment has been driven down — to bring that back into an equilibrium, it’s unlikely the Fed is going to
In this article BRK.A Berkshire Hathaway CEO Warren Buffett lambasted Wall Street for encouraging speculative behavior in the stock market, effectively turning it into a “gambling parlor.” Buffett, 91, spoke at length during his annual shareholder meeting Saturday about one of his favorite targets for criticism: investment banks and brokerages. “Wall Street makes money, one
In this article ABNB LYFT AMD SBUX MTCH SMCI AKAM The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. Lucy Nicholson | Reuters Check out the companies making headlines after the bell: Lyft — The ridesharing stock plummeted 23% in extended trading despite reporting a beat on revenue and an
First Period houses are the timber-framed dwellings built by the 17th century settlers of the New World who relied on a medieval building style already out of fashion in the Old World. They were the building style of New England from the period following the initial settlement of the English in Massachusetts in 1620 to
In this article RDFN Some of the hottest pandemic-migration destinations also happen to be home to the hottest regional inflation rates. The relationship between migration and inflation has strengthened significantly as more people relocate from expensive coastal cities to more affordable metro areas, according to an analysis released by Redfin on Tuesday. “We saw an
The Puerto Rico Oversight Board submitted a proposed Plan of Adjustment for the Puerto Rico Highways and Transportation Authority and proposed a confirmation hearing for it to be held in mid-September. The board submitted the proposed plan, proposed Disclosure Statement, and three other motions concerning the legal processes on the road to confirmation on Monday
BP recorded its highest quarterly earnings in more than a decade, benefiting from soaring prices for hydrocarbons and “exceptional” oil and gas trading revenues, even as it wrote down the value of its business in Russia to almost zero. The UK-listed oil major’s underlying profit on a replacement cost basis for the first three months
The Fed’s choreographed rate-raising exercise may well tail off by year’s end, several prominent asset managers said Monday. The managers were speaking at the Milken Institute Global Conference Beverly Hills. . “I think the Fed will turn dovish by the end of the year and that will lead to a lot of opportunity on the