Municipals held steady Friday ahead of a sizable $7 billion, new-issue slate with a mix of credits across the spectrum, from healthcare to housing to toll roads and bellwether general obligation issuers. U.S. Treasuries improved across the curve while equities rebounded after another volatile week across markets. “Bond market investors are all wishing that April was behind us as they
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Microsoft and Google’s owner Alphabet have quashed investor scepticism around the vast sums spent on developing artificial intelligence, after being boosted by rampant corporate demand for their cloud computing services. The combined market value of the two US tech giants rose by more than $250bn on Friday, a day after each reported double-digit revenue growth
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT While the spring housing market has been plagued with low supply, high prices and spiking interest rates, would-be homebuyers are focusing on new construction. The reason? New homes have more incentives and availability than previously owned ones. “There’s more opportunity in new construction,” said Nicole
The worlds of finance and theater might seem very different, but Steven Mahr sees a common thread running through the work that he and his colleagues do to realize the city’s policy visions and the performances that take place on Chicago’s renowned stages. Mahr, who moved to the city with his wife two years ago,
Stay informed with free updates Simply sign up to the Mining myFT Digest — delivered directly to your inbox. Anglo American has rejected BHP’s offer to break up and buy the UK-listed miner, saying the proposal “significantly undervalues” the company and its future prospects and that the deal would be “highly unattractive” to its shareholders.
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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alphabet’s revenue jumped 15 per cent in the first quarter of 2024 and it announced it would pay its first dividend of 20 cents a share, buoyed by a rise in earnings across its main
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
Chicago’s City Council on Friday approved the issuance of $1.25 billion of bonds to fund affordable housing and economic development programs after debating the measure for the past month. Rather than raising property taxes, the city will let about 45 tax increment financing districts expire and, once the tax revenue from those districts returns to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Brussels has raided a Chinese security equipment supplier, deploying new anti-foreign subsidy powers in a move that will further inflame tensions between the trading superpowers ahead of a planned visit by President Xi Jinping to
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.
Local government officials in Texas are increasingly feeling the sting of 2021 state laws that banned big banks from underwriting municipal bonds for “boycotting” or “discriminating” against the fossil fuel or firearm industries. Several aired their grievances at The Bond Buyer’s Texas Public Finance conference in Austin last week, noting the impact of the laws,
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