<img src=”https://public.flourish.studio/visualisation/20844932/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were weaker Tuesday as the New York City Transitional Finance Agency, the last sizable new-issue of 2024, priced for institutions, while U.S. Treasuries were mixed and equities saw large losses ahead of the expected FOMC rate decision Wednesday. That weakness that began last week continued through Tuesday, as
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A top Russian general has died after a bomb went off at the entrance to his home in Moscow early on Tuesday, investigators said, killing him and his assistant. Russia’s Investigative Committee, a major crimes
In this article NVDA Follow your favorite stocksCREATE FREE ACCOUNT Jaque Silva | Nurphoto | Getty Images Nvidia shares slumped more than 2% on Monday, putting the AI chip darling officially in correction territory. The chipmaker and de facto artificial intelligence trade has rallied 165% this year amid ongoing excitement for the buzzy technology trend.
“We think the FOMC will deliver a ‘hawkish cut,'” lowering the fed funds range to a range between 4.25% and 4.50%,” said BNP Paribas Chief U.S. Economist James Egelhof. “Chair [Jerome] Powell will likely use the press conference to open up optionality for a pause in further easing of undefined length.” The Federal Open Market
Wall Street is betting the US dollar will make further gains after its recent storming rally, even hitting parity with the euro, in a challenge to President-elect Donald Trump’s stated desire for a weaker currency. The dollar has soared 6.1 per cent since the start of October, its best quarter since the early stages of
<img src=”https://public.flourish.studio/visualisation/20820063/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady but with a slightly weaker tone Monday as U.S. Treasuries and equities closed the session mixed. Triple-A yields were cut up to two basis points, depending on the scale, while USTs were weaker on the short end and slightly better out long. The two-year municipal to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rachel Reeves’ increase in business taxes is taking a toll on the UK economy as companies cut back hiring, adding to warnings that the chancellor’s October Budget has sapped corporate confidence heading into the new
Anton Petrus | Moment | Getty Images Drone stocks rallied Monday as retail interest ramped up in the sector following a Palantir partnership with Red Cat Holdings and amid a flurry of mysterious New Jersey sightings that Wall Street believes could boost funding for the industry. Red Cat shares rallied more than 25% on news
A view of downtown Reading, Pennsylvnia, which was in the state’s Act 47 program for distressed communities from 2009 to 2022.Adobe Stock There was a time when it seemed like a Pennsylvania city or town could stay distressed forever. Clairton, a city on the outskirts of Pittsburgh, entered the commonwealth’s distressed municipalities program in 1988,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Confidence in the UK economy among manufacturers fell after Rachel Reeves’ tax-raising Budget at the sharpest rate since the start of the Covid-19 pandemic, in another setback for the chancellor. Manufacturers’ confidence fell to 5.8
<img src=”https://public.flourish.studio/visualisation/20781708/thumbnail” width=”100%” alt=”chart visualization” /> The municipal market grew in the third quarter of 2024 amid the surge in supply while mutual funds, exchange-traded funds and foreign buyers increased their ownership of the asset class in the third quarter, Fed data shows. However, “muni holdings of all institutional investors, lead by banks, is still
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In this article GTLB Follow your favorite stocksCREATE FREE ACCOUNT Pavlo Gonchar | Lightrocket | Getty Images Amid concerns over elevated valuations in the U.S. stock market, there are several stocks that continue to look attractive based on the future growth potential they promise. To pick such stocks, investors can track the recommendations of Wall
“The Committee will hit the ground running in 2025,” said current and future Chairman Sam Graves, R- Mo. ”Our work will include working with President Trump to advance his infrastructure priorities, developing the next long-term surface transportation reauthorization, and reprioritizing policies that are consistent with the core purpose of infrastructure .U.S. House of Representatives The future of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The London Stock Exchange is on course for its worst year for departures since the financial crisis, as fears mount that more FTSE 100 businesses will quit the UK in favour of New York. A
With costs escalating for a 15-year expansion program, the Oklahoma Turnpike Authority board approved a toll hike ahead of a $1 billion bond sale slated for early 2025. Oklahoma Turnpike Authority Ahead of a $1 billion bond sale early next year for an expansion program with rising costs, the Oklahoma Turnpike Authority hiked toll rates
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. South Korea’s President Yoon Suk Yeol has been impeached by the National Assembly following his failed attempt to impose martial law last week. Opposition parties, which command a majority in the legislature, only needed the
In this article MSFT AMZN GOOGL XOM CVX Follow your favorite stocksCREATE FREE ACCOUNT Budrul Chukrut | Lightrocket | Getty Images Exxon Mobil and Chevron are jumping into the race to power artificial intelligence data centers, as the two oil majors bet tech companies will ultimately turn to natural gas to meet their tremendous energy
Tal Alexander (L) and Oren Alexander (R). Getty Images Federal prosecutors accused top real estate agents Tal and Oren Alexander and their brother, Alon, of drugging and raping “dozens of victims” over more than a decade. The brothers were arrested in Miami Wednesday on sex trafficking charges related to the alleged assaults. They face charges of
<img src=”https://public.flourish.studio/visualisation/20783578/thumbnail” width=”100%” alt=”chart visualization” /> Municipals faced more selling pressure Friday but outperformed U.S. Treasuries ahead of a much lighter supply picture, which should buoy the asset class in the final weeks of the year. This week’s accumulated losses have pushed returns into the red for the month, but municipals are still faring better
Chancellor Rachel Reeves came to office in July pledging to make stronger growth the number one mission of the new Labour government. Official figures on Friday underlined how far she is from achieving this ambition. After gaining momentum since 2023, output slipped back in September and October. The figures confirm that businesses and households shied
Los Angeles Mayor Karen Bass has spent the past two weeks speaking about her administration’s achievements in her two years in office.Bloomberg News Los Angeles city leaders have some work ahead to close a $296.14 million deficit, according to a report City Administrative Officer Matt Szabo delivered to the City Council’s Budget, Finance and Innovation
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK economy unexpectedly shrank 0.1 per cent in October, the second contraction in a row, in a blow to the Labour government’s economic agenda. The monthly change in GDP published on Friday by the
In this article ARKK ZM Follow your favorite stocksCREATE FREE ACCOUNT Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange on Feb. 27, 2023. Brendan McDermid | Reuters Innovation investor Cathie Wood’s struggling funds enjoyed a much-needed boost from Donald Trump’s reelection, but
Traders work on the floor of the New York Stock Exchange during morning trading on Nov. 26, 2024. Michael M. Santiago | Getty Images Bitcoin exchange traded funds are now the largest holders of the flagship cryptocurrency. The 12 spot bitcoin ETFs in existence have collectively passed $100 billion in assets under management, one of
The Federal Reserve is expected to lower interest rates by another quarter point at the end of its two-day meeting on Dec. 18. That would mark the third rate cut in a row — altogether shaving a full percentage point off the federal funds rate since September. So far, the central bank has moved slowly as they recalibrate policy after
Trucks arriving from Mexico wait for inspection at the Otay Mesa point of entry in San Diego.Bloomberg News New tariff threats by President-elect Donald Trump would likely impact state and local government finance, economists and analysts say, though exactly how remains unknown. In campaign statements, and a post-election social media post, Trump said he would
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC is reviewing its retail banking operations outside the UK and Hong Kong, a move that could see it substantially scale back operations in countries including Mexico, as it seeks further cost cuts. The bank
Orlando Health senior vice president of finance John Miller said offering the bonds in one state rather than two states will save his company bond counsel and other fees. The Orange County, Florida, Health Facilities Authority will offer $1.4 billion of hospital revenue bonds for Orlando Health the week of January 13. OCHFA will sell
Homes under construction in Englewood Cliffs, New Jersey on Nov. 19th, 2024. Adam Jeffery | CNBC If President-elect Donald Trump is going to push inflation back down to a more tolerable level, he will need help from housing costs, an area where federal policymakers have only a limited amount of influence. The November consumer price