Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Thames Water shareholders backed away from supporting the group after the UK regulator demanded they slash the company’s debt pile and make other structural changes they calculated would cost as much as £8bn. The backtracking
Geopolitical turmoil roiled markets Friday, sending investors on a flight-to-safety trade into U.S. Treasuries while equities sold off after news reports that Israel was bracing for an attack by Iran on government targets and that China was providing Russia with drone and missile components. Municipal bonds followed USTs as yields fell in both asset classes
In this article LEVI BOOT Follow your favorite stocksCREATE FREE ACCOUNT Beyonce leaves the Luar fashion show at 154 Scott in Brooklyn during New York Fashion Week on February 13, 2024 in New York City. James Devaney | GC Images | Getty Images Western boots have a new protector in Beyoncé. The country fashion staple’s
This aerial picture shows homes near the Chesapeake Bay in Centreville, Maryland, on March 4, 2024. Jim Watson | Afp | Getty Images Overall mortgage demand has now moved sideways for three straight weeks, but last week saw a split between those looking to buy a home and those hoping to save money with a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The dollar has notched up its strongest weekly performance since 2022 after outsize US inflation figures caused ripples through world markets. The US currency has strengthened by 1.5 per cent against a basket of six
The Municipal Securities Rulemaking Board’s upcoming meeting of its board of directors April 17-18 will focus discussion on its many rule proposals underway. The board will review the public comments they received as part of the request for information on small firms, which saw 22 different firms and groups submit responses. They will also discuss
Stay informed with free updates Simply sign up to the UK interest rates myFT Digest — delivered directly to your inbox. Rishi Sunak’s hopes of going into a general election on the back of lower taxes and cheaper mortgages suffered a blow on Thursday as traders scaled back expectations of interest rate cuts in 2024.
Municipals were mixed Thursday in secondary trading as focus shifted to California’s nearly $1.5 billion of tax-exempt and taxable general obligation bond deals in the competitive market while U.S. Treasuries were weaker out long after Wednesday’s short-end selloff and equities were in the black at the close. Triple-A yield curves saw a mix of bumps
US Federal Reserve Chair Jerome Powell attends a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images A hotter-than-expected consumer price index reading rattled markets Wednesday, but markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading.
Vietnamese property tycoon Truong My Lan (C) looks on at a court in Ho Chi Minh city on April 11, 2024. A top Vietnamese property tycoon could face the death penalty when she and dozens of other co-accused face verdicts on April 11 in one of the country’s biggest fraud cases over the embezzlement of
Stay informed with free updates Simply sign up to the UK interest rates myFT Digest — delivered directly to your inbox. Cuts in UK interest rates “should still be a way off”, according to one Bank of England policymaker, arguing investors were underestimating the risk that high inflation would linger for longer in Britain than
Municipals were weaker, but outperformed a large U.S. Treasury selloff that hit the short end the hardest and pushed the 10-year well over 4.5% after a hot inflation report showed Fed rate cuts would be pushed further out. Equities sold off as well. “The news is sparking an equity market selloff while sending bond yields
Big investors are selling US Treasuries and buying European government bonds, betting that cooler inflation in Europe will allow its central bank to start cutting interest rates sooner than the Federal Reserve. Money managers at Pimco, JPMorgan Asset Management and T Rowe Price have all increased their exposure to European government debt in recent weeks.
S&P Global Ratings on Wednesday upgraded its long-term rating on Detroit’s unlimited-tax general obligation debt to investment grade, raising it to BBB from BB-plus. The outlook is stable. The rating agency said the change reflected a stronger financial position and its “increased confidence in the city’s ability to sustain balance within the construct of its
Westend61 | Westend61 | Getty Images It’s unclear when the Federal Reserve could begin cutting interest rates, but many homeowners who took out a mortgage in recent years — as rates hovered between 6% and 7%, and even touched 8% — are paying attention for opportunities to refinance. Thanks to those high mortgage interest rates,
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. Traders slashed bets on imminent Federal Reserve rate cuts on Wednesday after data showed US inflation rose to 3.5 per cent in March, surpassing expectations and marking the second increase in a row. The annual
Florida’s Brightline passenger train, long a prominent name in the high-yield municipal market, is gearing up for its investment grade market debut with a $2 billion deal that marks a first step toward an overhaul of its debt load. Another $1 billion of subordinate high-yield bonds that will be a mix of taxable and tax-exempt
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. OpenAI and Meta are on the brink of releasing new artificial intelligence models that they say will be capable of reasoning and planning, key steps towards achieving superhuman cognition in machines. This week, executives at
Munis were a touch firmer in spots Tuesday as the primary market ramped up and investors awaited Wednesday’s inflation report to give further guidance on Fed rate cuts. U.S. Treasuries were firmer and equities were mixed at the close. The two-year muni-to-Treasury ratio Tuesday was at 65%, the three-year at 64%, the five-year at 61%,
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Jon Lovette | Stone | Getty Images There is a record number of areas in the U.S. where the “typical” home is worth $1 million or more. In February, the country had 550 “million-dollar” cities, or areas where the “typical” home value is $1 million
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