Long-term education debt reached its highest levels on record in 2020, the most recent data sample available, reaching $505 billion. That’s highlighted in Reason Foundation’s recent K-12 Education Spending Spotlight, which leans on U.S. Census Bureau data to show long-term debt has reached its highest level since the organization began releasing the report in 2002.
A deluge of ratepayer-backed utility debt in the wake of 2021’s Winter Storm Uri continues with a Kansas regulator approving the state’s first securitization deal. The Kansas Corporation Commission (KCC) on Thursday unanimously passed an irrevocable financing order allowing Kansas Gas Service to issue securitized bonds to recover $328 million in costs incurred during the
Even as tax revenue continues to rise in New York, storm clouds are gathering on the fiscal horizon, providing an opening for lobbyists who want to widen online gambling in the state. Local sales tax collections in New York State rose 11.9% in July compared to the same period in 2021, according to state comptroller
Investors are raising red flags over a stock market rally that has added more than $7tn in value to US equities since June, with many of the gains being driven by hedge funds unwinding bearish bets rather than newfound conviction that it is time to buy. Traders at Goldman Sachs, Morgan Stanley and JPMorgan Chase
UK consumer confidence has fallen to its lowest level since comparable records began almost 50 years ago as the rising cost of living stokes concerns over personal finances and economic prospects. In monthly research from data provider GfK, the August index score for overall consumer confidence fell to -44 from a figure of -41 the
In this article BBBY Activist investor Ryan Cohen has exited his position in retailer Bed Bath & Beyond, according to a securities filing released Thursday afternoon. The filing shows that Cohen’s RC Ventures dumped its stock on Tuesday and Wednesday at a range of prices between $18.68 per share and $29.22 per share. The firm
Three days before Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS), the world’s largest derivatives marketplace in terms of volume, CME Group, announced plans to list ethereum options. While CME’s ether options product prepares for regulatory review, the company detailed that the options contract will be measured at 50 ether per contract, using the CME
Municipals were weaker again Thursday led by continued pressure on the short end while municipal bond mutual funds saw outflows for the second consecutive week. Triple-A yield curves saw cuts of up to nine basis points on bonds five years and in, depending on the curve, while U.S. Treasuries made small gains to close out
In this article CSCO BBBY BJ WOLF WBA Check out the companies making the biggest moves midday: Cisco Systems — Shares of the networking equipment producer jumped 5.8%. The company reported earnings after the bell on Wednesday that beat estimates. Cisco also provided a better-than-expected forecast for 2023. Bed Bath & Beyond — The latest
After an impressive 73% rally between July 13 and Aug. 13, Avalanche (AVAX) has faced a 16% rejection from the $30.30 resistance level. Some analysts will try to pin the correction as a “technical adjustment,” but the network’s deposits and decentralized applications reflect worsening conditions. To date, Avalanche remains 83% below its November 2021 all-time
Two rating agencies cut Hazelwood, Missouri’s ratings this month as the city remains locked in a battle with a fire protection district over the cost for services that city officials have warned could lead to Chapter 9 bankruptcy. Fiscal problems city leaders blame on the dispute with the Robertson Fire Protection District came to a
From a 15th century manor house with a panoramic view to a medieval chateau converted to a luxury hotel, these properties will have you feeling like you are living in a fairytale, all for under EUR 4 million (about US $4.05 million). Here’s closer look: Medieval Chateau Turned Luxury Hotel In Savoie Where: Located in
(Click here to subscribe to the Delivering Alpha newsletter.) When Peter Kraus founded Aperture Investors, he deviated from the traditional active management model. Rather than raking in fixed fees, Kraus’ $3.8 billion firm operates on a fee structure linked to performance, charging 30 percent of alpha. That’s higher than the industry standard but since inception, about half
In a discussion that started around two Ontario crypto exchanges’ recent 30,000-Canadian-dollar limit on altcoins purchases — which excluded Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) — Ethereum co-founder Vitalik Buterin took a dig at XRP, which Ripple chief technology officer David Schwartz didn’t take very kindly. Buterin, in a response to a tweet, lauded the Ethereum community’s
Municipals sold off Wednesday with the largest losses up front, pushing the one-year triple-A yield well above 2%, the first time since March 2020. U.S. Treasuries were weaker and equities ended down. U.S. Treasuries started the day with large losses after higher inflation numbers out of Europe led to volatility early on but they pared
Federal Reserve officials discussed the need to keep interest rates at levels that restrict the US economy “for some time” in a bid to contain the highest inflation in roughly 40 years, according to an account of their most recent meeting. Minutes from the meeting, at which the US central bank raised its benchmark policy
A county judge declined to dismiss a lawsuit challenging the Oklahoma Turnpike Authority’s extension plan at the same time the OTA asked the state supreme court to validate bonds for the project. The ruling was the first in either of two lawsuits seeking to block OTA from building certain extensions as part of its bond-financed
A For Sale sign is posted in front of a property in Monterey Park, California on August 16, 2022. Frederic J. Brown | AFP | Getty Images Mortgage rates fell slightly last week, but not enough to fuel any kind of recovery in consumer demand for home loans. Total mortgage application volume fell 2% from
People shop in a supermarket as inflation affected consumer prices in New York City, June 10, 2022. Andrew Kelly | Reuters Consumers are expected to have spent just slightly more in July, but they may have boosted what they spent online in a big way. U.S. retail sales will be reported Wednesday at 8:30 a.m.
Municipals were weaker Tuesday as short-end munis continued to sell off, U.S. Treasuries were weaker 10 years and in and equities were mixed. Triple-A muni yields rose nine to 12 basis points in one-year, further inverting the curve on the short end. Heavy secondary trading on the short end moved one-year triple-A yields as much