Municipals saw losses Thursday following U.S. Treasuries to higher yields, while equities sold off after GDP growth slowed in the first quarter. While growth slowed, inflation was hotter, said ING Chief International Economist James Knightley, as the core PCE deflator rose 3.7% on an annualized basis, three-tenths of a point higher than expected. “Unsurprisingly Treasury yields
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. The US economy grew less than expected in the first quarter of 2024, at an annualised rate of 1.6 per cent, hit by higher inflation data that spooked investors. The growth figure from the Bureau
Prospective buyers attend an open house at a home for sale in Larchmont, New York, US, on Sunday, Jan. 22, 2023. Tiffany Hagler-Geard | Bloomberg | Getty Images Sales of previously-owned homes dropped 4.3% in March compared with February, to a seasonally adjusted, annualized rate of 4.19 million units, according to the National Association of
The recent slew of prepaid energy bond issues in the Southeast continues to revive interest in the sector as demand remains strong for the tax-exempt paper. In a prepaid natural gas deal, public utilities secure a long-term supply of natural gas at a discounted rate. A conduit issuer, typically a special-purpose entity, sells these bonds.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BHP has proposed a takeover of Anglo American, in a deal that would bring together two global mining giants and rank as one of the industry’s largest transactions in years. BHP has made a proposal
The California Supreme Court has granted review of a case challenging retirement reforms state lawmakers approved 11 years ago, marking a return of pension spiking questions to the high court for the first time since a 2020 ruling on an Alameda County case. The new case — Ventura County Employees’ Retirement Association v. Criminal Justice
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. President Joe Biden signed a highly anticipated $95bn foreign aid bill on Wednesday, triggering a move by the Pentagon to rush $1bn in new weapons to Kyiv from US stockpiles, including much-needed air defence
A residential real estate sold sign is seen in Washington, D.C. Brendan Smialowski | AFP | Getty Images Mortgage rates rose for the third straight week last week, hitting the highest level since November. As a result, mortgage application demand dropped 2.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted
The primary market was the focus Tuesday as investors digested several large deals and the secondary took a backseat while U.S. Treasuries improved and equities rallied on earnings reports This week provides “ample opportunity” to buy paper with up to $13 billion of supply on tap, said Chris Brigati, senior vice president and director of
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. The US Senate has approved a $95bn bill delivering security aid to Ukraine, Israel and the Indo-Pacific region, after it drew overwhelming bipartisan support in a boost to Joe Biden’s top foreign policy priorities.
Moody’s Ratings on Monday revised Illinois’ outlook to positive from stable. The rating agency also affirmed the state’s A3 issuer rating and the A3 rating on Illinois’ general obligation debt and Build Illinois sales tax bonds. It assigned a rating of A3 to $1.8 billion of forthcoming Illinois GO bonds. The new bonds include $250
Stay informed with free updates Simply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox. Some banks are unable to quantify their exposure to private equity, the Bank of England has found, in the latest warning that the $8tn industry could threaten the wider financial system. BoE regulator Rebecca
Dado Ruvic | Reuters The Bitcoin network on Friday night slashed the incentives rewarded to miners in half for the fourth time in its history. The celebrated event, which takes place about once every four years as mandated in the Bitcoin code, is designed to slow the issuance of bitcoins, thereby creating a scarcity effect
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Real estate is increasingly a tale of two markets — a luxury sector that’s booming, and the rest of the market that continues to struggle with higher rates and low inventory. Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin.
Transportation Secretary Pete Buttigieg joined a bevy of state, federal and company officials in Las Vegas Monday to celebrate the long-awaited groundbreaking of Brightline West, a $12 billion privately owned passenger line that is vying to become the nation’s first high-speed train that advocates say will help launch similar projects across the country. “We are
Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. Traders have built up bets that the Federal Reserve could raise interest rates again, a once-unthinkable prospect that highlights a shift in market expectations after stronger than expected US economic data and hawkish comments
Fitch Ratings affirmed both Miami Jewish Health Systems and Subsidiaries long-term issuer default ratings and the the city of Miami Health Facilities Authority’s $41 million of Series 2017 revenue bonds issued by on behalf of MJHS at speculative-grade BB-plus. The rating outlook on both is negative, Fitch said. “The affirmation reflects good growth in the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The FTSE 100 closed at an all-time high on Monday as rising expectations for UK interest rate cuts weakened sterling and boosted corporate valuations in London. Britain’s blue-chip index rose 1.6 per cent to close
In this article 4452.T-JP Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration a Kao Corporation logo seen displayed on a smartphone. Igor Golovniov | SOPA Images | Lightrocket | Getty Images Company: Kao Corp (4452.T) Business: Japan-based Kao Corp manufactures and sells consumer and chemical products. It operates in five business segments. The
Just an inch of floodwater can generate tens of thousands of dollars in property damage. Homeowners trying to move and start over after such a disaster might find a surprising buyer for their home: the government. The Federal Emergency Management Agency, or FEMA, has spent around $4 billion assisting in the purchase of about 45,000
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