<img src=”https://public.flourish.studio/visualisation/20997687/thumbnail” width=”100%” alt=”chart visualization” /> Municipals had a stronger tone Tuesday as investors closed their books ahead of the New Year holiday while U.S. Treasuries were mixed and equities saw losses for the final session of 2024. While municipals have outperformed USTs on the whole in 2024, they will close December with losses. How
Russian gas flows through Ukraine are set to stop on Wednesday when a transit deal between the two countries expires in the wake of Moscow’s full-scale invasion. The pipeline was one of the last two routes still carrying Russian gas to Europe nearly three years into the full-scale war. EU countries will lose about 5
For decades, Art Cashin, UBS’ director of floor operations at the New York Stock Exchange, would write a New Year’s poem to reflect back on the year’s events. With Cashin’s passing earlier this month, his sons, Arthur and Peter, sent this homage to their father: Some Other Cashins’ Comments: An Homage PresentationDecember 30, 2024 by
A home available for sale is shown in Austin, Texas, on May 22, 2024. Brandon Bell | Getty Images There’s good news in the housing market to close out 2024: There’s a lot more supply. The bad news: A lot of that supply is stale, sitting unsold for much longer than usual. Active listings in
A deal backed by United Airlines to finance upgrades at Houston’s George Bush Intercontinental Airport was one of many billion-dollar-plus deals in Texas in 2024.Houston Airport System In a record year for municipal bond issuance, Texas set a record of its own. Issuers in Texas sold $67.88 billion of bonds in 2024, according to LSEG
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Investors pulled a record $450bn out of actively managed stock funds this year, as a shift into cheaper index-tracking investments reshapes the asset management industry. The outflows from stockpicking mutual funds eclipse last year’s previous
&lt;img src=”https://public.flourish.studio/visualisation/20989474/thumbnail” width=”100%” alt=”chart visualization” /&gt; Municipals were slightly stronger as U.S. Treasury yields fell and equities ended down. Muni yields were bumped up to four basis points, depending on the scale, while UST yields fell five to nine basis points with the biggest gains 10 years and in. The two-year municipal to UST ratio
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A record number of senior lawyers moved jobs in London this year as the arrival of US law firms in the capital continues to disrupt the market and fuel pay wars for talent. Law firms
The two leaders of New York’s state legislature vetoed the Metropolitan Transportation Authority’s capital plan, which has a massive funding gap.Marc A. Hermann / MTA A state review board has vetoed the New York Metropolitan Transportation Authority’s 2025-2029 capital plan. The leaders of both houses of the state legislature, in their roles as members of
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Jimmy Carter, the 39th US president who later won the Nobel Peace Prize for his humanitarian work, has died at the age of 100, the Carter Center said on Sunday. He died peacefully
“You have these woke corporations who are dictating how people should invest,” Indiana Treasurer Daniel Elliott told a local radio station. “You have these folks from New York City and Europe and California dictating how Hoosiers’ investments should be invested. And that’s a problem.”Indiana Treasurer of State The battle over ESG investing is spreading in
In this article BKNG CRM DKNG Follow your favorite stocksCREATE FREE ACCOUNT Jaque Silva | Nurphoto | Getty Images This year was a busy one for investors, especially in light of the U.S. presidential election, growing excitement around artificial intelligence and the continued focus on elevated interest rates. While macro conditions are expected to improve
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. At least 80 people were killed on Sunday after a South Korean passenger jet crashed and burst into flame on landing, according to local authorities, in one of the country’s worst-ever aviation disasters. The Jeju
Oregon Gov. Tina Kotek has been working furiously the past 30 days launching her budget proposal and closing the door on a special session to deal with costs associated with a record-breaking 2024 wildfire season.Oregon Governor’s Office It’s been a busy 30 days for Oregon Gov. Tina Kotek. Since Thanksgiving, she has approved legislation drafted
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“Lawmakers will need enhanced pay-fors, putting a substantial target on the municipal bond tax exemption,” said Tom Kozlik, managing director, head of public policy & municipal strategy for Hilltop Securities. ”I think there is a 50% or greater chance the municipal bond tax exemption will be significantly curtailed or even completely eliminated in 2025.” Hilltop Securities Looking
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Vladimir Putin has apologised to Azerbaijan for what he described as a “tragic incident” involving an Azerbaijani aircraft in Russian airspace on Christmas Day. Moscow phoned Azerbaijani president Ilham Aliyev and the Russian president expressed
S&P Global Ratings Adobe Stock A sharp decline in debt service coverage helped drive a four-notch downgrade and CreditWatch placement for wastewater revenue bonds issued by Salinas, California. S&P Global Ratings Monday cut the debt to BBB-plus from AA-minus and put the rating on CreditWatch with negative implications. “The downgrade reflects our view of the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Global corporate debt sales soared to a record $8tn this year, as companies took advantage of red-hot demand from investors to accelerate their borrowing plans. Issuance of corporate bonds and leveraged loans climbed by more
&amp;lt;img src=”https://public.flourish.studio/visualisation/20962238/thumbnail” width=”100%” alt=”chart visualization” /&amp;gt; Municipals ignored losses in U.S. Treasuries Friday ahead of another week without new-issue supply to provide direction. Equities saw losses. Triple-A muni yield curves were unchanged while USTs saw losses of up to six basis points while the 10-year UST closed the session above 4.6%. While Friday’s muni session
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