Munis saw a weaker tone Wednesday as muni yields were cut up to five basis points, depending on the scale, marking a second day of selling pressure, as few deals priced in the primary. U.S. Treasuries were slightly firmer across most of the curve and equities were mixed. “Much like other periods in recent years
Alexander Spatari | Moment | Getty Images The Biden administration moved this week to limit how much rent can rise in certain affordable housing units across the country. While some housing experts criticized the move, tenant advocates said the new rule, which will cap rent increases at 10%, will help people to stay in their
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK MPs are exploring options to sanction a former Post Office chief executive amid fresh allegations that she misled parliament over the Horizon IT scandal. The House of Commons business and trade committee said in
It’s déjà vu all over again for the municipal bond market. For the second year in a row, the Treasury Department’s so-called Green Book, which contains the Biden administration’s tax policy initiatives and proposals, fails to mention tax-exempt municipal bonds. It’s an absence that’s puzzling given that President Joe Biden has made infrastructure a centerpiece
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nato is to start planning a $100bn military aid programme for Ukraine, according to the alliance’s head, despite the US urging caution over aspects of a proposal aiming to ‘Trump proof’ western support. Jens Stoltenberg,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates, striking a cautious
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Disney looks to have staved off a challenge to its board from activist investor Nelson Peltz, handing a victory to chief executive Bob Iger and ending one of the most expensive and closely watched boardroom
The Securities and Exchange Commission is seeing an increase in unregistered municipal advisor activity related to charter schools and public private partnership financings as its focus on MAs begins to harden. That’s according to representatives from the SEC gathered on Tuesday for Practicing Law Institute’s SEC Speaks in 2024 event. “One of the things that
The North Carolina Local Government Commission approved more than $1 billion in financing requests from state agencies and local governments at its latest meeting. The largest request on Tuesday’s agenda was from the North Carolina Housing Finance Agency, which was given approval to issue $750 million of revenue bonds to be used to increase the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Gold prices surged to an all-time high on Wednesday as traders respond to signals that the US Federal Reserve is preparing to cut interest rates later this year even as inflation remains stubbornly above the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tesla Motors will this month send a team to scout locations in India for a proposed $2bn-$3bn electric car plant, according to two people with direct knowledge of the electric vehicle company’s plans. The step
When the Michigan State Housing Development Authority in February priced $424.6 million of single-family mortgage revenue bonds, it was part of a broad recent surge in the sector. The MSHDA’s new bonds — 2024 Series A tax-exempt, 2024 Series B federally taxable and 2024 Series C variable-rate federally taxable — were issued to finance the
During the last US administration, the CIA sent a team of analysts to Moscow armed with credible information about the Islamist threat posed to Russia by citizens of Central Asian states who had joined Isis in Iraq and Syria. Instead of heeding their calls, the Russian side accused the US of itself supporting Isis. They
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. It is a case of the known unknowns. Most of the looming election’s parameters are clear but there is one unquantifiable which troubles party strategists on both sides. The don’t knows. As Tories grasp at
A home is offered for sale on March 22, 2024 in Chicago, Illinois. Scott Olson | Getty Images Mortgage rates didn’t move much last week, and for the second week in a row, neither did mortgage demand. Potential buyers are handcuffed by exorbitant costs and low supply, and current homeowners have little to no incentive
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tottenham Hotspur is in talks to secure a “significant increase” in equity as the football club seeks to compete with deep-pocketed rivals in the English Premier League. Rothschild & Co, which has long-standing ties to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Unlike Las Vegas, what happens in Florida does not stay in Florida. This week the state’s highest court issued a pair of rulings that ought to keep Donald Trump awake at night. If any issue
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Eurozone inflation fell to 2.4 per cent in March, lower than forecast, bolstering expectations that the European Central Bank will cut interest rates by the summer. The slowdown of annual consumer price growth from 2.6
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Four people have been killed and hundreds injured in Taiwan after the island’s strongest earthquake in almost 25 years damaged buildings, halted rail traffic and forced the evacuation of semiconductor manufacturing plants. The quake —
This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday Good morning. The news outlet/hedge fund Hunterbrook, in its debut article/short sale, sent the stock of United Wholesale Mortgage down 8 per cent. Hunterbrook accused UWS, a mortgage lender, of cultivating
In February 2022, Vladimir Putin launched his full-scale invasion of Ukraine. In doing so, the Russian president committed, in the words of one senior western diplomat, “a breach of civilisation” as he sought to remove Ukraine’s right to exist. He also brought Nato back to life. Defending Europe against Soviet aggression is why the military