Long-end munis were much weaker Wednesday while a large new-issue from the New York City Transitional Finance Authority took focus in the primary. U.S. Treasuries were saw losses along the curve and equities made gains ahead of the Jackson Hole event that starts Thursday. Triple-A municipal yields rose two to 10 basis points with the
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UBS Group is the only bank that underwrites municipal bonds on the list the Texas comptroller released Wednesday of 10 financial companies determined to be boycotting the fossil fuel industry under a 2021 law aimed at protecting the state’s oil and natural gas businesses. Placement on the list could jeopardize UBS’ participation as a co-manager
On Wednesday, U.S. dollar stablecoin issuer Tether (USDT) said that it would not freeze smart contract addresses sanctioned by the U.S. Office of Foreign Assets (OFAC) Control’s Specially Designated Nationals and Blocked Persons (SDN) list for cryptocurrency trail-mixer Tornado Cash. In explaining the decision, Tether said: “So far, OFAC has not indicated that a stablecoin
Bitcoin (BTC) and several major cryptocurrencies have been trading sideways as traders avoid taking large bets before the United States Federal Reserve’s Jackson Hole Economic Symposium, which begins on Aug. 25. The volatility is likely to soar as investors get some clarity on the Fed’s stance in the next few days. On Aug. 23, a
Topline Pending home sales—a leading indicator for housing market activity—fell less than expected last month in a potential sign that sales may soon stop collapsing as mortgage rates settle below recent highs, according to new data released Wednesday, but even if sales stop plunging, experts still aren’t sure how soon the market will recover. Key
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in May 2021. As existing-home sales declined, the median price
Municipals were a touch weaker Tuesday, but the focus was on a large new-issue day with airport revenue bonds from Minneapolis-St. Paul and transportation revenue bonds from Delaware leading the calendar. Treasuries saw smaller losses out longer with the 10-year closing above 3% again while equities ended in the red as economic data disappointed. Triple-A
One of the UK’s largest energy groups has told ministers that a rescue plan to protect households from rising bills will need funding of more than £100bn over two years, underlining the scale of the crisis engulfing Britain as gas prices surge. Keith Anderson, chief executive of Scottish Power — one of the “Big Six”
Directors at two of the Federal Reserve’s 12 regional branches favored a 100-basis-point increase in the discount rate in July, minutes of discount-rate meetings show. The boards of the St. Louis and Minneapolis banks voted for a bigger move on July 14, the Fed said in a statement released Tuesday. A day earlier, a report
In this article AMC AMC Entertainment has embarked on a meme-friendly experiment to give a token reward to its retail investor base while also creating a backdoor way to raise more cash down the line. The theater chain’s new preferred share class — called “APE” units — begin trading on Monday after being distributed to
The tone for munis was mixed Monday as they mostly ignored broader weakness in U.S. Treasuries while equities sold off as the markets continue to weigh what’s to come from Federal Reserve officials later this week in Jackson Hole. Triple-A yields rose one to three basis points, depending on the curve, while U.S. Treasuries saw
US stocks suffered their biggest decline in two months on Monday, with tech shares falling sharply on worries about the gloomy economic outlook and concerns that members of the Federal Reserve will adopt a hawkish tone at a symposium this week. Wall Street’s benchmark S&P 500 index slid 2.1 per cent, its most severe one-day
On Monday, developers of decentralized nonfungible tokens (NFTs) borrowing and lending protocol Bend DAO proposed new emergency measures in an attempt to stabilize the ecosystem. The same day, it was revealed that the project had just as little as 15 wrapped Ether (wETH) worth $23,715 to pay back lenders. Approximately 15,000 ETH was lent using
In this article WYNN AMZN CRM NVDA Netflix is expanding its push into mobile gaming. Sopa Images | Lightrocket | Getty Images Check out the companies making the biggest moves midday Monday: AMC — Shares of the theater chain dropped nearly 42% as investors weighed the company’s new preferred share class and news that rival
After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls’ dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. The worsening conditions are not exclusive to crypto markets. The price of WTI oil ceded 3.6%
Chicago-owned O’Hare International Airport heads into the market next week with $1.77 billion of across-the-board A-plus-rated paper after two upgrades. The city will sell the bonds in four series offering a mix of paper subject to the alternative minimum tax and non-AMT with $1.3 billion being raised for projects and the remainder refunding outstanding debt
The European stock markets and the United States equities markets are both deep in the red on Aug. 22 as investors fear that aggressive rate hikes may not be off the table. Another thing keeping investors nervous could be the upcoming Jackson Hole economic symposium, which is scheduled to begin on Aug. 25. Investors are
It’s not everyday that you hear about a “buy-two-get-one-free” deal in high-end real estate, but then again there’s nothing average about La Jolla’s Foxhill Estate. Encompassing approximately 30 acres of rolling seaside property, Foxhill Estate was once even larger, totaling 32 acres when it first hit the market back in early 2020. Since then the
The world’s largest ethereum mining pool, Ethermine, has announced the organization plans to drop proof-of-work (PoW) ethereum mining entirely. Ethermine says that the platform’s miner dashboard will display a countdown and users can continue to mine ether until the countdown reaches zero. Largest Ether Mining Pool to End PoW Ethereum Mining — Ethermine Ethereum Mining
Moscow sees no possibility of a diplomatic solution to end the war in Ukraine and expects a long conflict, a senior Russian diplomat has warned, as President Vladimir Putin’s full-scale invasion reaches the six-month mark this week. Gennady Gatilov, Russia’s permanent representative to the UN in Geneva, told the Financial Times that the UN should