Municipals were little changed Monday ahead of several large deals and the final session of April, which is poised to close out with another month of negative returns for the asset class. U.S. Treasuries were firmer, and equities were in the black. The two-year muni-to-Treasury ratio Monday was at 65%, the three-year at 63%, the
New findings show the increasing frequency and severity of climate hazards pose growing financial risks for local government issuers in the U.S. municipal bond market, according to a report from S&P Global Sustainable1. In 2023, the hottest year on record globally, the U.S. faced 28, billion-dollar weather and climate disasters, that caused a record $92
Shreveport, Louisiana, voters approved $256 million of general obligation bonds Saturday. The voters approved $125 million for a streets and drainage bond, $82 million for a water and sewer bond, and $49 million for a police and fire infrastructure bond. The first two bonds passed with 80% in favor and 20% against. The last passed
Travelism | E+ | Getty Images Having a diversified portfolio means you should have some of your money in bonds. The assets can offer not not some protection against market volatility, but also generate income. Yet deciding how to construct the fixed income portion of your portfolio may seem confusing, especially after the bond rout
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Vitapix | E+ | Getty Images People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ended April 25, according to Freddie Mac data via the Federal
Upcoming highly-rated offerings from two Virginia agencies and the state of Delaware should provide some direction for yield curves as the market digests larger supply. Delaware is putting $367 million of general obligation bonds out for competitive bid on Tuesday. The Virginia Resources Authority is set to price Tuesday $135.73 million of Virginia Pooled Financing Program infrastructure
Ahead of an expected push to broaden tax-exempt financing authority for tribal governments next year, a pair of Federal Reserve Bank of Minneapolis economists are recommending the tax code be reformed to allow tribes greater access to the financing tool. An April 25 paper titled “Tax code constraints limit tribal tax-exempt bonding” notes the relatively
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. WeWork’s senior creditors are poised to take control of the reorganised co-working space provider after agreeing to invest a fresh $450mn, effectively ending Adam Neumann’s attempt to purchase the company he founded. A federal bankruptcy
BHP’s unsolicited £31bn takeover approach for Anglo American has shaken up the mining industry, provoking speculation that the storied company is ripe to be sold or broken up. Anglo rejected the preliminary offer on Friday as “highly unattractive” but investors expect BHP to return with an improved deal or for a rival to emerge with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. All political lives, remarked the UK politician Enoch Powell, end in failure. For Scotland’s pro-independence first minister, Humza Yousaf, the end has come far sooner than expected when he took office barely a year ago.
When Humza Yousaf tore up a power-sharing deal with the Scottish Greens last Thursday at Bute House, he sought to improve his nationalist party’s prospects by shifting away from the progressive policies associated with the coalition. Four days later, that political miscalculation boomeranged back on the first minister in historic fashion as Yousaf returned to
For those of a certain age, a tune sung by The Happenings — See You in September — might resonate with regard to the Federal Reserve. Most analysts now expect the Fed to hold rates in a range between 5.25% and 5.50% until September, with some concern there will be no rate cuts this year.
Saudi Arabia’s economy minister rejected recent reports that the kingdom’s $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. “All projects are moving full steam ahead,” Faisal Al Ibrahim told CNBC’s Dan Murphy on Monday at the World Economic Forum’s special meeting in Riyadh.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel has significantly softened its stance on the conditions for a hostage deal with Hamas, raising hopes of a breakthrough in diplomatic efforts to end the war in Gaza. After weeks of deadlock, Israel has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Humza Yousaf’s resignation on Monday as Scotland’s first minister came less than a week after he ended a power-sharing deal between his Scottish National party and the Scottish Greens. Yousaf’s decision to step down fired
Palm Beach County, Florida, has become the world’s largest investor in Israel bonds, with its investments now totaling more than $700 million. In the six months since the Oct. 7 Hamas terrorist attacks, global sales of Israel bonds have surpassed $3 billion. This includes the $1.7 billion that more than 35 U.S. states and municipal
Open your virtual A-eyes. A new study testing ChatGPT’s artificially intelligent image creator showed an aggressive tilt toward men over women when asked to depict business people and chief executive officers, according to finance company Finder. Using DALL-E the generative AI, prompt-based photo creator integrated into ChatGPT from parent company OpenAI 99 out of 100
Paramount Global is reportedly considering dumping longtime CEO Bob Bakish and replacing him with a group of executives as the entertainment giant inches closer to a deal with Skydance Media. Bakish, who has been privately critical of the company’s talks to merge with Skydance, would be replaced on an interim basis with an Office of
Actor Lucas Black recently shared that he has no regrets about stepping away from NCIS New Orleans in 2019 in order to put his family first. “I chose to step away from ‘NCIS New Orleans’ because the schedule was long hours and gruesome,” Black, the 41-year-old father-of-three, told The Christian Post. “There was only a
One of the nations leading evangelists is warning Christian parents that Taylor Swifts newest album contains lyrics that seemingly oppose the faith. Shane Pruitt, the author of Calling Out the Called and an evangelist who tours with the annual Winter Jam concert, sparked an online debate Monday with comments on his Facebook page that led to
Its the wheel deal. Blade the helicopter company that shuttles city elites to the Hamptons for $1,000 a flight is rolling out a swank coach service as a more affordable, but still luxe, alternative. Were excited about the white space that exists between a $40 Jitney ride and $1,000 helicopter flight, Blades CMO Roisin Branch told