Municipals saw the largest one-day improvements since November Wednesday, as U.S. Treasury yields fell and equities sold off after the Federal Reserve Open Market Committee kept rates unchanged and signaled the Fed may not be rushing to cut rates until inflation is further tamed. In his press conference, Fed Chair Jerome Powell said cuts are
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Arc’teryx apparel brand owner Amer Sports is poised to raise less money than hoped in the largest US initial public offering since October, in the latest sign of investor caution amid a tentative reopening in
Another bankruptcy involving bonds issued through the Arizona Industrial Development Authority was filed Tuesday along with a pre-packaged exit plan that would result in bondholder ownership of a reorganized company. Restoration Forest Products Group, which brought the Chapter 11 case in U.S. Bankruptcy Court in Delaware, sold $112.8 million of taxable Series A senior and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Federal Reserve held interest rates at a 23-year high on Wednesday, but gave little immediate indication of when it would begin cutting borrowing costs this year. The Federal Open Market Committee’s decision to
The Federal Reserve announced it will leave interest rates unchanged Wednesday, setting the stage for rate cuts to come — and paving the way for relief from the combination of higher rates and inflation that have hit consumers particularly hard. Although Fed officials indicated as many as three cuts coming this year, the pace that they trim interest
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Meta’s Mark Zuckerberg was pushed to publicly apologise to the families of people who said they had been harmed by his social media platform, a dramatic moment in a heated congressional hearing over child safety
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An Informa employee attempted to deny an Israeli company access to an event in London, underlining the tensions western corporations must manage as the conflict in the Middle East rages. An employee at the publishing-to-events
January issuance was up year-over-year as positive market momentum from yearend, growing capital needs, tighter credit spreads and planning for dwindling federal stimulus dollars prompted issuers to come to market. January’s total volume rose 16.1% to $27.928 billion in 474 issues from $24.056 billion in 497 issues in 2023. Issuance for the month is slightly
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sir Keir Starmer’s opposition Labour party will step up efforts to woo the private sector on Thursday by hosting a “business day” for 400 corporate leaders. That tickets reportedly sold out within hours suggests it
Stay informed with free updates Simply sign up to the German politics myFT Digest — delivered directly to your inbox. German chancellor Olaf Scholz slammed the far-right Alternative for Germany’s plans for “Dexit”, saying any move to leave the EU would be catastrophic for the bloc’s largest economy. “That would be the biggest destroyer of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Treasury will hold some of its largest-ever debt auctions in the coming three months in an effort to fill the yawning federal budget deficit. The Treasury said on Wednesday it would increase the
The city of Jacksonville, Florida, is seeking bids for underwriters to manage its bond issues for the next several years. The Sunshine State’s biggest city, with more than 950,000 residents — and the largest in area in the entire continental U.S. — is soliciting information from qualified firms to serve as senior managing underwriter or
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US government bonds made their biggest gains of the year on Wednesday, after weak employment data spurred investor bets on an early interest rate cut from the Federal Reserve. The two-year US Treasury yield, which
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Boeing withheld its usual financial guidance for the coming year and vowed to focus on the safety and quality of its operations, as the US plane maker tries to stem the fallout from a mid-air
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has hailed “the prospect of power-sharing back up and running” within days in Northern Ireland, as the UK government published details of a plan to revive the Stormont executive. The prime minister said
When Fitch Ratings this month downgraded Marshfield Clinic Health System, a nonprofit group of 11 hospitals based in central Wisconsin, to BBB from BBB-plus, it cited operating losses due in part to wage pressures from reliance on contract nurses and temporary physicians. The downgrade applied both to Marshfield’s issuer rating and the revenue bonds issued
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The difference between a Donald Trump or Joe Biden victory in November could be the future of the US republic. But it does not follow that a Biden second term would bring an end to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak’s Conservative critics are not wrong. The prime minister is leading their party over a cliff. The only flaw in their analysis is the failure to see that their demands for extreme solutions are
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Brussels has made a last-minute offer to Hungary’s prime minister in a bid to secure his support for the bloc’s €50bn financial aid to Ukraine, amid frenzied diplomatic efforts to reach a deal at
The University of Arizona’s fiscal problems will be solved over the next 18 to 36 months as system-wide changes are made, according to school officials who are under pressure from Gov. Katie Hobbs to take action. In a presentation Monday to faculty and others, Arizona Board of Regents Chair Fred DuVal said two forensic firms
Prospective home buyers look from the balcony of a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Roberto Schmidt | AFP | Getty Images After rising for several weeks, mortgage demand fell last week as buyers faced increased competition for a limited supply of homes. Total