Municipals ended the week steady even as U.S. Treasuries lost ground and equities rallied on better consumer data and corporate earnings. Triple-A benchmark yields were left unchanged as the 10-year UST rose six basis points while the 30-year climbed three. Ratios fell on the day’s moves, with the 10-year municipal-to-UST ratio at 74% and the
Goldman Sachs reported a 60 per cent rise in quarterly profits, capping a week of bank earnings in which Wall Street firms reaped billions of dollars from a record burst of dealmaking. On Friday, Goldman reported third quarter group earnings per share of $14.93 on total net income of $5.4bn, up from $3.4bn a year
Traders and the market are showing extreme optimism on Oct. 15 after rumors and an assortment of documents suggest that the path toward a Bitcoin ETF approval has fewer obstacles lying ahead. Following the positive news, the price of Bitcoin (BTC) rallied to nearly $63,000 for the first time since April and multiple altcoins saw their
Michael Sonnenshein, chief executive officer of Grayscale Investments LLC, speaks virtually during a Crypto Summit Feb. 25, 2021. Daniel Acker | Bloomberg | Getty Images Grayscale Investments plans on filing an application to convert the world’s biggest bitcoin fund into a spot ETF early next week, according to a person with knowledge of the matter.
Traders works at the New York Stock Exchange (NYSE), August 4, 2021. Andrew Kelly | Reuters Cryptocurrency enthusiasts and the exchange-traded fund industry are bracing for the first bitcoin futures ETF to begin trading on Tuesday, when the ProShares Bitcoin Strategy ETF is scheduled to debut at the NYSE. One catch: The ETF goes active
Traders work on the floor of the New York Stock Exchange (NYSE), September 21, 2021. Brendan McDermid | Reuters Stocks appear to have shaken off the often spooky trading pattern of October for now, and whether that continues could depend on earnings in the week ahead. Dozens of companies are reporting, from Netflix and Tesla
Bitcoin (BTC) rose within a few steps of $63,000 today for the first time since April 18. The recent surge in the price may have been caused after various documents pointed to the eventual approval of a futures-based BTC ETF by the United States Securities and Exchange Commission. According to these documents, the regulator may
Big-time Hollywood producer Joe Roth is heading east from his Holmby Hills mansion and moving to nearby Beverly Hills. The longtime film and TV executive and founder of multiple production companies, including Morgan Creek Productions and Revolution Studios, has paid $23 million for a stylish Midcentury Modern home in the 90210 in an off-market deal,
An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. Bobby Yip | Reuters BEIJING — The People’s Bank of China said Friday that indebted developer China Evergrande is its own case, and that most real estate businesses in the country are stable. Property giant Evergrande has $300 billion in liabilities
The historic settlement between states and drug companies over the U.S. opioid epidemic is unlikely to have a material impact on the municipal bond market, said Barclays in a new report. The pending $26 billion deal is the largest attorney general multi-state enforcement action in history after the 1998 tobacco master settlement agreement. But it’s
United Wholesale Mortgage (UWM), one of the largest wholesale and purchase lenders in the United States, is ditching Bitcoin (BTC) payment plans after running a test. UWM officially announced Thursday that the company has successfully conducted its first-ever cryptocurrency mortgage pilot, accepting five crypto payments in October and one in September. The firm did not
Municipals were stronger as the New York Urban Development Corp. led the primary with $1.76 billion of taxable and exempt sales tax bonds in the competitive market while Refinitiv Lipper reported a rebound in fund inflows. Triple-A benchmarks were bumped a basis point in spots along the yield curve, but the asset class has underperformed
Japan’s new prime minister has pledged to move the country away from neoliberal fundamentalism as he lambasted his own party’s failure to deliver broad-based growth under the Abenomics programme that defined the economy for almost a decade. In his first interview with international media since taking over Japan’s leadership this month, Fumio Kishida told the
Carrier aircraft VMS Eve takes off from Spaceport America in New Mexico, carrying spacecraft VSS Unity on July 11, 2021. Virgin Galactic Virgin Galactic is delaying the beginning of its commercial space tourism service to fourth quarter 2022, with the company on Thursday announcing a reorganization of its development and test flight schedule. The space
In this article HOLX AA SPCE Virgin Galactic’s space tourism rocket plane SpaceShipTwo returns after a test flight from Mojave Air and Space Port in Mojave, California, December 13, 2018. Gene Blevins | Reuters Check out the companies making headlines in after hours trading Virgin Galactic — Shares of the space company fell more than
The record-setting housing market has brought anecdotes of frustrated home shoppers being repeatedly outbid and using risky strategies, such as waiving contingencies, to be competitive. And a new Zillow analysis of the age, sex, race and income of home buyers over a decade reveals Millennials and Baby Boomers — two of the biggest generations in
In this article ETC.BF= BTC.BS=-USS Tony Andrews | Twenty20 U.S. homebuyers apparently aren’t all that interested in paying their mortgages in cryptocurrencies like bitcoin. United Wholesale Mortgage, which made its public debut in January via a special purpose acquisition (SPAC) merger, began piloting crypto payments in August in a first for the industry. But CEO Mat Ishbia
Muni issuers and borrowers should be considering climate risks and disclosing them in offering documents, a process that requires an important legal analysis. That was a major takeaway from a Wednesday discussion at the National Association of Bond Lawyers’ The Institute conference. Climate risk disclosures have been singled out by Securities and Exchange Commission Chairman
sponsored YIELD App, a FinTech company and digital asset wealth management platform, has published its Q3 report, showing the firm continuing on a strong growth trajectory over the third quarter of 2021, which saw it double its managed assets and strike a high profile partnership with Premier League football club, West Ham United. The quarter
Municipals were steady in light secondary trading while new issues were repriced to lower yields and U.S. Treasuries made gains after a rollercoaster day. Triple-A benchmark yields were little changed while the UST 10-year fell four basis points to 1.541% and the 30 fell six to 2.035% near the close. Ratios rose as a result,