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
Nurphoto | Nurphoto | Getty Images As mortgage rates reached a 23-year high last week, the cry went off across markets and social media: Is housing affordability dead? Has a version of the American dream — home ownership, kids, backyard barbecues — died with it? The question is sharp because housing affordability has dropped by
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
Municipals were slightly firmer Tuesday as large deals priced in the primary saw yields lowered upon repricing. U.S. Treasuries were firmer out long and equities rallied. The two-year muni-to-Treasury ratio Tuesday was at 71%, the three-year was at 72%, the five-year at 72%, the 10-year at 74% and the 30-year at 91%, according to Refinitiv
The iShares spot Bitcoin exchange-traded fund (ETF) proposed by investment firm BlackRock has been listed on the Depository Trust & Clearing Corporation (DTCC), suggesting potential approval by the United States Securities and Exchange Commission. In an Oct. 23 X (formerly Twitter) thread, Bloomberg ETF analyst Eric Balchunas said the DTCC listing was “all part of
Some community colleges in California are learning a hard lesson about free money. The schools signed up to sell municipal securities whose debt service would be entirely covered by the loan and whose principal would be forgiven at maturity. They would never have to write a check. Now at least two schools are facing the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK will on Tuesday confirm that it is scrapping the cap on bankers’ bonuses that was inherited from the EU as part of its post-Brexit push to boost the City of London, according to
Concert ticket prices have soared to new heights this year, causing angst and financial stress for live music fans. Blame has been pointed at ticket sales companies like TicketMaster and profiteering scalpers. President Biden has even proposed legislation aimed at the problem. But similar to the housing market, the unaffordability of music tickets is due
Major crypto exchanges recorded a net outflow on Oct. 24 as Bitcoin price briefly touched the $35,000 mark for the first time in a year. The movement of funds away from exchanges is considered a bullish sign as traders move their assets away from the centralized platforms in anticipation of a price surge. According to
In this article NOVO.B-DK LLY Follow your favorite stocksCREATE FREE ACCOUNT George Frey | Reuters Most analysts predict the market for new weight loss drugs like Wegovy and Mounjaro will be enormous, but estimates vary for its exact size depending on who you ask. On Monday, Citi raised its estimate for incretin drug sales to
New Jersey’s tax revenues have continued to slide in the new fiscal year, according to recently published figures. The state pulled in $4.8 billion in taxes in September, New Jersey’s Department of the Treasury said in its monthly revenue report, a year-over-year decline of 5.1% for the month and drop of 6.2% for the first
Andrew Kelly | Reuters The bond vigilantes are coming back as investors continue to sell amid the prospect of higher-for-longer interest rates and a growing fiscal deficit, according to Kevin Zhao, head of global sovereign and currency at UBS Asset Management. The yield on the benchmark 10-year U.S. Treasury note rose above 5% once again
October is proving to be a solid month for Bitcoin (BTC) as the price is nearing the 2023 high at $31,805. Generally, major resistances are not cleared in the first instance as the bears come out in full force to guard the level. Therefore, a minor dip is to be expected, but that should not
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chevron has agreed to buy US oil and gas producer Hess Corporation in a $53bn all-stock deal, in the latest step in the consolidation of the US energy sector. The deal values Hess’s equity at
In this article US10Y Follow your favorite stocksCREATE FREE ACCOUNT The yield on the benchmark 10-year Treasury topped 5% again Monday, a key level that could impact mortgage rates, student debt, auto loans and more. Last week, the 10-year yield crossed the 5% threshold for the first time in 16 years after Federal Reserve Chair Jerome
Bitcoin (BTC) hit new three-month highs on Oct. 23 as the week’s first Asia trading session produced snap gains. BTC/USD 1-hour chart. Source: TradingView Bitcoin bulls face crunch BTC price resistance Data from Cointelegraph Markets Pro and TradingView showed BTC price adding momentum to reach $30,944 on Bitstamp. The largest cryptocurrency saw its first weekly
Bitcoin (BTC) had a good week with prices rising about 10% to reach the psychologically important level of $30,000. After the rally, the question troubling investors is whether the uptrend will continue or is time for a reversal to happen. Trading team Stockmoney Lizards recently said that Bitcoin may soon break above its overhead resistance
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US said it was sending more advanced weapons systems to the Middle East and the Israeli military warned Lebanon to rein in the militant group Hizbollah, reflecting growing concerns that Israel’s war against Hamas
In this article CSCO EOG CHK BMY CIVI Follow your favorite stocksCREATE FREE ACCOUNT A sign bearing the logo for communications and security tech giant Cisco Systems Inc. is seen outside one of its offices in San Jose, California, Aug. 11, 2022. Paresh Dave | Reuters The market’s volatility as of late is making dividend-paying
Lawyer and cryptocurrency supporter John Deaton has criticized the Lightning Network, deeming it less effective than the “Spend The Bits” protocol on the XRP Ledger (XRPL). Lightning is a layer-2 scaling solution for Bitcoin. It is designed to improve the scalability and efficiency of Bitcoin (BTC) transactions by enabling off-chain, peer-to-peer transactions. In an Oct.