Despite swings in short-term rates, issuance of variable rate demand obligations and other floating-rate debt has steadily increased over the past several years, with variable rate (short put) issuance during the first half of 2024 rising to $7.077 billion, an 11.6% increase year-over-year, LSEG data shows. Issuance rose to $13.239 billion in total in 2023
Issuance surged in the first half of 2024, as drying up federal aid, a resurgence of Build America Bond refundings and front-loaded deals ahead of the election contributed to the rise in volume after two down years. Total volume for 1H 2024 was $242.162 billion in 4,208 deals, up 32.3% from $183.076 billion in 3,916
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Mike Lynch, one of the UK’s best-known tech entrepreneurs, is among those missing after a luxury yacht sank off the coast of Sicily, according to people familiar with the matter. Lynch’s wife, Angela Bacares, had been
Municipal bond volume in the Northeast increased more than any other region in the first half of 2024. Issuers sold $61 billion of debt in 678 deals, a 55% increase over the same period last year. Each of the region’s 11 states outpaced its volume from last year, according to data from LSEG, with most
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The Federal Reserve could start lowering interest rates as soon as next month, based on the latest inflation data. “We think that the time is approaching,” Fed Chair Jerome Powell said at a press conference after the last Federal Open Market Committee meeting in July. For Americans struggling to keep up with sky-high interest charges, a likely September rate cut may bring some
The T-Mobile logo is displayed on a laptop screen and a smartphone, seen in this illustration photo taken in Krakow, Poland, Feb. 22, 2024. Jakub Porzycki | Nurphoto | Getty Images The July consumer price index reading indicated cooling inflation and July retail sales addressed investors’ fears about an economic slowdown. They also boosted hopes
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