If vice-president Kamala Harris defeats Donald Trump in November, most of America’s allies will greet her victory with thinly veiled delight. “If she wins,” says an official from one of its long-standing Asian partners, “we will have a national holiday!” The official was barely joking, such are the worries in many capitals over the presumed
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Investors will have a chance to buy New York City’s third-ever social-labeled general obligation bonds this week. Comptroller Brad Lander said he has high hopes for the taxable $1.5 billion deal despite the awkwardness of Mayor Eric Adams’ recent federal criminal indictment on bribery charges. “[The credit rating agencies] have reported they believe the city’s
Traders work on the floor of the New York Stock Exchange during afternoon trading on October 03, 2024 in New York City. Michael M. Santiago | Getty Images Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it
Texas Capital is expanding its public finance team with the addition of five industry professionals, the Dallas-based financial services firm announced Friday. The public finance business was launched in May with the hiring of Steve Genyk, a former public finance head at UBS, as a managing director. The move came as the ranks of underwriters
Cleveland will return to market Wednesday with the first of two bond deals slated for this month. That deal, an approximately $64.395 million general obligation offering, will fund improvements to public facilities, parks and recreational buildings and bridges and roadways. The second deal, $90 million of water revenue bonds to finance capital projects and purchase
Municipals saw further weakness Monday following more losses in U.S. Treasuries while equities ended down as investors digest rising oil prices amid geopolitical tensions and uncertain macroeconomic data ahead. Muni yields were cut up two to five basis points, depending on the curve, while UST yields rose five to seven basis points, pushing the 10-year
Tom Falcone, former CEO of the Long Island Power Authority, was unanimously elected president of the Large Public Power Council, effective Jan. 1, 2025. Falcone said the position is a natural continuation of his work with public power utilities throughout his career. “As an investment banker financing projects, as somebody who was at a utility
The Maryland Stadium Authority is coming to market with a $413.4 million issuance of tax- exempt revenue bonds that will finance construction and renovations to Maryland schools. “We expect good demand from in-state retail and separately-managed account buyers, but we also expect interest from national investors,” said Patrick Luby, senior municipal bonds strategist at CreditSights.
The Texas state comptroller and attorney general asked a federal court on Friday to dismiss a lawsuit challenging the constitutionality of a 2021 law that bans governmental contracts with banks and other financial firms determined to be “boycotting” the fossil fuel industry. The filing asserts plaintiff American Sustainable Business Council lacks standing to bring the
As the southeast region reels from Hurricane Helene and as another potential major storm bears down on Florida this week, a group of finance agencies is urging Congress to create disaster recovery bonds that would give cities, towns and states immediate access to low-cost financing after a natural or manmade disaster. The Council of Development
Moody’s Ratings upgraded $3.02 billion in Miami-Dade County transit bonds to Aa2 from A1 and convention development tax bonds to Aa3 from A2 on Thursday. The broad nature of the revenue pledge and strong 2.4 times maximum annual debt service coverage supported the upgrade, the agency said. The revenues have had limited volatility and a
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When Wall Street scrambled to launch bitcoin funds earlier this year, there was just one trading company named in regulatory filings as an anchor market-maker for every single one: Jane Street. The move underscored how a quirky and opaque New York firm has used its dominance in exchange traded funds and embrace of more finicky
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A strong rally in the renminbi is testing Beijing’s currency management policies, after China’s stimulus plans and the US Federal Reserve’s embrace of lower interest rates sent Asian currencies surging against the US dollar. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Messages from the archive of Rutherford Hall, critical communications strategist Rutherford’s Rule: I have many adages about how to do business but there is one I stress so often my colleagues now routinely refer to
Real estate agent and reality television star Ryan Serhant. Newspix Real estate has been historically slow to modernize, but AI is changing that. The integration of artificial intelligence is transforming how buyers and sellers interact with agents, fundamentally altering competitive dynamics in the industry. With AI reshaping daily operations of a real estate agent’s business
In this article META UBER CYB-FF Follow your favorite stocksCREATE FREE ACCOUNT A smartphone displaying Facebook with the Meta icon visible in the background. Jonathan Raa | Nurphoto | Getty Images The U.S. stock market witnessed a solid September, thanks to the Federal Reserve’s much-awaited interest rate cut. However, escalating geopolitical tensions in the Middle
In this article RSVR Follow your favorite stocksCREATE FREE ACCOUNT Golnar Khosrowshahi, Founder and CEO of Reservoir Media Management, Inc. attends Variety, The New York Party, at Loosie’s Nightclub on October 05, 2023 in New York City. Jamie McCarthy | Variety | Getty Images Company: Reservoir Media (RSVR) Business: Reservoir Media operates a music publishing business,
U.S. Treasuries sold off Friday after payrolls came in much hotter than expected, leading economists and traders to pare back rate cut expectations. The municipal market could not ignore the moves and triple-A yields rose, but outperformed taxables to a large extent, pushing ratios lower. Equities rallied on the news, pushing the Dow to close
Taxpayers shoulder a heavy burden for sports stadium subsidies, the Tax Foundation said this week. Reams of research shows that using bonds to finance sports stadiums and arenas do not generate enough revenue to justify the costs, the foundation said in a blog post Thursday. “According to the academic research, the tangible economic benefits job
Dennis J. Enright, founding principal of NW Financial Group and NW Capital Markets, has died, the New Jersey-based firm announced Thursday. He was 76. Enright’s career spanned a half-century, and he was a pioneer in many now-common financing strategies. “He was a premier banker, always innovating and searching for client solutions that would save money,”