Municipals were steady Friday ahead of an expected paltry new-issue calendar. U.S. Treasuries were firmer 10 years and in and equities were mixed after a volatile week of market-moving economic data and increasing geopolitical tensions in the Middle East while all markets await the Federal Open Market Committee’s November meeting. “Any chance of a dovish
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel said its Gaza offensive was “advancing” after fighting through the night in a significantly expanded ground operation under the cover of an intense aerial bombardment that has knocked out most communications in the enclave.
Researchers from Florida Atlantic University and the University of Mississippi recently published research indicating that blockchains with “full” blocks — especially when there’s a transaction queue — appear to have an added layer of protection against nefarious actors, money launderers and would-be fraudsters. Dubbed “Bitcoin Blocksize, Custodial Security, and Price,” the team’s paper takes a
The Chainlink’s (LINK) token surged by a substantial 61.3% from Oct. 20 to Oct. 25, reaching a peak of $11.78 and marking its highest point since May 2022. LINK price then stabilized around $10.50, prompting investors to question the sustainability of this new price level. Chainlink (LINK) token price, 12-hour, USD. Source: TradingView It’s worth
Bitcoin (BTC) has been trading above $33,600 for the past two days, indicating that the bulls are not rushing to the exit. After a sharp rally, if the price does not give up much ground, it may cause FOMO and ignite another round of buying. That could push the markets further into overbought territory. However,
New York City has received a boost of state support as it seeks to head off a worsening affordable housing crisis, including an increase in the bonding capacity of the New York City Housing Development Corp. Gov. Kathy Hochul this week signed into law a trio of bills passed by New York’s Legislature leveraging state
With a reputation for having been the home of two early U.S. presidents, Charlottesville, Virginia, is steeped in history. Yet, only some things may be as old as they look. For example, a luxury 140-acre compound built in 2000 takes its style cues from historic estates while doubling down on modern-day luxuries. Eaglecrest, as it’s
Chris Wattie | Reuters The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting next week, even though the central bank’s preferred inflation indicator remains well above the 2% target rate. Late last month, Fed Chair Jerome Powell said ”inflation is still too high,” raising expectations that another rate hike may
Municipals were little changed in mixed secondary trading as the last of the week’s largest new-issues priced and muni mutual funds clocked in more outflows. The U.S. Treasury market pendulum swung back to gains Thursday as investors reacted to the stronger-than-expected GDP numbers. Equities closed down. Triple-A yields were little changed after outperforming UST losses
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. NatWest shares plunged by the most since the Brexit vote after it cut its profit outlook for the year, adding to the bank’s problems on the day it published a highly anticipated report into its
The price of Bitcoin (BTC) has notched new all-time highs against some of the world’s most inflationary fiat currencies. Across 30 hours over Oct. 23 to 24, the cost of buying one Bitcoin has reached all time-highs when using the Argentine peso (ARS), Nigerian naira (NGN), Turkish lira (TRY), Laotian kip (LAK) and the Egyptian pound
A Louisiana congressional committee voted down plans for a $2 billion-plus public-private partnership that would replace an aging toll bridge near Lake Charles, a move that project proponents say will cost the state and provide for few alternatives. In an 8-6 vote on Tuesday, the Louisiana State Legislature’s Joint Transportation Highway and Public Works Committee
The pattern shows up in many areas of the country: development activity fills in between two metropolitan areas, typically along one or more highways that connect them. Orlando to Tampa along I-4 is another prime example, and there are dozens more around the country. From New Braunfels to San Marcos, as well as closer-in suburbs,
Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 25, 2023. Jeenah Moon | Reuters Former President Donald Trump on Thursday railed against the judge who will deliver verdicts in his $250 million New York fraud
Chattanooga, Tennessee’s public power utility board voted to approve the issuance of $125 million of new electric utility revenue bonds for improvements and new construction on local power networks. EPB of Chattanooga is the brand of the city’s Electric Power Board. The utility provides electric and telecommunications services over a 600 square mile service area
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israeli forces carried out a “targeted raid” in the north of the Gaza Strip in the early hours of Thursday, as they stepped up preparations for a ground operation in the coastal enclave to topple
More than $280 billion has been wiped from the “magnificent seven” tech stocks following the release of several earnings reports on Oct. 25, triggering fears of a looming tech recession. The so-called “magnificent seven” refers to the top seven blue-chip tech firms including Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla — who combine to
Bitcoin (BTC) easily soared above the $31,000 to $32,400 resistance zone on Oct. 23, which came as a suprise to many market participants. Usually, the price tends to consolidate or hesitate near stiff overhead resistance levels but that was not the case this time around. Market participants are bullish as they anticipate a Bitcoin spot
Several of Wall Street’s biggest names convened in Riyadh, Saudi Arabia, for the kingdom’s annual Future Investment Initiative, during which they weighed in on risks and opportunities for investors and the global economy. Bankers speaking on panel discussions notably stressed headwinds — particularly in the short term — from multiple wars, an economic slowdown and
The U.S. Federal Reserve Building in Washington, D.C. Win Mcnamee | Reuters Forecasters have been really wrong on the economy recently, but it’s nothing new: They’ve always been wrong. I was amused yesterday to hear that JPMorgan Chase CEO Jamie Dimon was shocked — shocked! — that the economic forecasts of the major Wall Street