Despite the pressure on U.S. Treasuries this week following the Federal Reserve’s 50 basis point rate cut, municipals closed out the week on track to post positive returns for the fourth consecutive month, the first time since 2021. Triple-A municipal yield curves were lightly traded and little changed while Treasuries saw small improvements for the
Tampa, Florida’s sales and utility tax bonds were upgraded to Aa1 from Aa3 by Moody’s Ratings and the outlook is stable. The upgrade affects Series 2016 and 2020 sales tax refunding and improvement bonds and Series 2012A and C utilities tax and Series 2010A & B utility tax revenue bonds. “That’s great news, and it
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nike chief executive John Donahoe will retire next month in an abrupt leadership change punctuating a period of dour financial performance at the world’s largest sportswear maker. Nike’s board of directors said on Thursday that
Street scene in Old Bond Street, Mayfair, London, United Kingdom. Pawel Libera | The Image Bank | Getty Images LONDON — Monaco, Italy, Switzerland, Dubai. They’re just a few of the destinations trying to lure away the U.K.’s uber wealthy ahead of proposed changes to the country’s divisive non-dom tax regime. Almost two-thirds (63%) of
A larger than expected federal funds rate cut on Wednesday caught a lot of market experts off guard. “I was surprised by the size of the cut,” said Vikram Rai, head of municipal markets strategy for Wells Fargo. ”I was expecting 25 basis points, but you can rationalize 25 or 50. Muni investors have waited for this,
Mercedes-Benz lowered its full-year earnings outlook, blaming the weaker projections on China’s worsening macroeconomic conditions. The company on Thursday said its car division now anticipated the return on sales to be in the range of 7.5 per cent to 8.5 per cent, down from its previous expectation of 10 per cent to 11 per cent.
Municipals were steady to weaker in spots Thursday, as U.S. Treasury yields rose five years and out and equities rallied. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year at 66%, the five-year at 66%, the 10-year at 70% and the 30-year at 86%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of England has held interest rates at 5 per cent after inflation remained steady in August, but indicated it may lower borrowing costs again as soon as November. The Monetary Policy Committee’s eight-to-one
Sales of previously owned homes fell 2.5% in August from July, to a seasonally adjusted annualized rate of 3.86 million units, according to the National Association of Realtors. That is slightly lower than what analysts expected. Sales were 4.2% lower than August 2023. It marks three straight months of sales below the 4 million mark,
Philadelphia Mayor Cherelle Parker’s $6.3 billion budget, the first of her tenure signed into law in the summer, represents her administration’s commitment to making Philadelphia “the safest, cleanest, greenest big city in the nation, with access to economic opportunity for all.” Parker, who became Philadelphia’s 100th mayor and the first woman to hold the position
The Empire State Development Corp. is set to sell $335.7 million of state sales tax revenue bonds on Thursday. The competitive deal is the only sizable offering from a New York state issuer on this week’s calendar, a contrast to the billion-dollar deals the state’s issuers have sold in recent months. It was a week
Steven Cohen, Chairman and CEO of Point72 Asset Management and majority owner of the New York Mets, attends a news conference at Citi Field, the home stadium of MLB’s New York Mets, which is being used for coronavirus disease (COVID-19) vaccination site, in Queens, New York, February 10, 2021. Brendan McDermid | Reuters Billionaire investor
Traders work on the floor of the New York Stock Exchange during afternoon trading on September 05, 2024 in New York City. Michael M. Santiago | Getty Images Investors may soon see their favorite stocks quoted in half-penny increments. The U.S. Securities and Exchange Commission will vote Wednesday to change the minimum pricing increment for
Chris Wattie | Reuters The Federal Reserve announced Wednesday it will lower its benchmark rate bya half percentage point, or 50 basis points, paving the way for relief from the high borrowing costs that have hit consumers particularly hard. The federal funds rate, which is set by the U.S. central bank, is the interest rate
Franklin County, Ohio, will issue $138.2 million of lease revenue anticipation refunding bonds through the Franklin County Convention Facilities Authority to refund or redeem outstanding Build America Bonds. The proceeds of the Series 2024 refunding bonds will also be used to consolidate the existing rental reserve and debt service reserve fund into a restructured rental
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Municipals were steady to slightly firmer in spots with several large new-issues pricing in the primary as U.S. Treasury yields fell and equities were mixed as market participants await the FOMC rate decision Wednesday. “It’s all but a sure thing that the Fed will cut this week, but by how much is still up for
In this article BLCO-CA BHC-CA Follow your favorite stocksCREATE FREE ACCOUNT CHICAGO, ILLINOIS – MAY 05: Bausch + Lomb eye vitamins are offered for sale at a drug store on May 05, 2022 in Chicago, Illinois. Bausch + Lomb parent company Bausch Health is spinning off the eye-care company with an upcoming IPO which will
Shu Matsuo Post, 38, built a $2 million real estate portfolio, according to documents seen by CNBC Make It. Courtesy of Shu Matsuo Post The idea of financial independence can mean different things to different people, but one common way to define it is having enough money that you no longer need to rely on
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Pagers belonging to Hizbollah members exploded across Lebanon on Tuesday, the militant group said, killing at least eight people and injuring more than 2,700 in an apparent sabotage of the low-tech systems it uses to
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