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Researchers at Pennsylvania State University recently analyzed whether attitudes and emotionality surrounding cryptocurrency could help predict returns. What they found may stand in stark contrast to related financial markets. According to the team’s research paper, social media plays an outsized role in adoption and activity rates, while cryptocurrency journalism isn’t a great predictor of market movement:
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Municipals were mixed Monday ahead of a larger new-issue slate while U.S. Treasuries improved and equities were up near the close. Triple-A yields saw a mix of one to two basis point bumps and cuts, depending on the curve, while UST saw yields fall by one to 11 basis points with the strongest moves inside
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City executives gathered in London’s Square Mile on Monday evening to hear chancellor Jeremy Hunt announce his latest reforms aimed at tapping the UK’s financial services sector to reinvigorate the economy.  Hunt will use his “Mansion House reforms” to attempt to boost the UK economy by channelling pensions savings towards potentially higher growth, illiquid assets
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Environmentally friendly infrastructure got a big boost just before California Gov. Gavin Newsom signed the budget on July 1 and then again last week through a grant-funding program. With the budget shortfall this year, lawmakers scrambled to tap the state’s cap-and-trade program and other non-general fund sources to sustain ongoing programs. California lawmakers added money
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After months of feuding on how to deliver a massive property tax cut, Texas legislative leaders announced Monday they reached an agreement on a bill that could be sent to Gov. Greg Abbott later this week.  With the state projected to end its fiscal 2022-23 biennium on Aug. 31 with a record $32.7 billion budget
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Former Sterlington, Louisiana, mayor Vern Breland has agreed to settle a Securities and Exchange Commission lawsuit that alleged he and Sterling’s municipal advisor, Aaron Fletcher of Twin Spires Financial, misled investors on two offerings worth $5.8 million. Without admitting or denying the findings, Breland has been permanently barred from participating in future issuances of municipal
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Municipal underwriters handled $171.714 billion in 3,501 issues in the first half of 2023. The total par amount and issues continued to decline, down from $201.119 billion in 4,688 deals in 2022.  BofA Securities remained at the top of the list, with $22.948 billion, accounting for 13.4% of the market, but the rest of the
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A bankruptcy case involving an Arizona participant sports venue could be dismissed amid allegations by a U.S. trustee of “dishonesty, incompetence, or gross mismanagement,” as well as the possible misuse of bond proceeds on the part of its nonprofit owner.  Legacy Cares Inc. filed the Chapter 11 bankruptcy in Arizona federal court May 1 after
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Municipal financial advisors saw $146.805 billion of business in 2,685 transactions in the first half of 2023, down from $167.727 billion in 3,484 deals over the same time period in 2022. Municipal Capital Markets Group, Columbia Capital Management and Caine Mitter and Associates moved into the top 10, while Baker Tilly Municipal Advisors, Stifel Nicolaus
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The UK and France are Europe’s closest relations. They have economies of similar sizes and shapes. They have colonial pasts of a similar hue and geographic spread, though the British empire was the larger. Given this, anyone interested in improving the lot of people in one country would do well to study the successes and mistakes
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In New York City, discerning buyers are increasingly viewing Passive House design principles as the key differentiator as they size up potential new homes. Happily for them, a growing number of companies are designing using Passive House principles. The Passive House method of construction results in structures that remain comfortable for the occupants, both in
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New York state agencies need to do more to protect the state’s water systems from threats like cyberattacks and natural disasters, according to an audit released by state comptroller Thomas DiNapoli. “New York has thousands of water systems supplying drinking water,” DiNapoli said, “but as we’ve seen in other states, this critical infrastructure is increasingly
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Russian president Vladimir Putin met Yevgeny Prigozhin and other Wagner commanders a few days after their aborted mutiny, the Kremlin revealed on Monday. Dmitry Peskov, the president’s spokesperson, said Putin invited at least 35 people, including Prigozhin and the battalion commanders from the private military group, to the Kremlin on June 29. The meeting lasted
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