Municipals were steady to firmer in spots to close out a week of lackluster supply, while U.S. Treasuries were mixed and equities rallied. Muni-UST ratios on Friday were at 67% in five years, 84% in 10 years and 98% in 30 years, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five
Foreign investors have pulled funds out of emerging markets for five straight months in the longest streak of withdrawals on record, highlighting how recession fears and rising interest rates are shaking developing economies. Cross-border outflows by international investors in EM stocks and domestic bonds reached $10.5bn this month according to provisional data compiled by the
In this article ROKU AMZN AAPL People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017. Brendan McDermid | Reuters Check out the companies making headlines in midday trading Friday. Amazon — Shares of
We reached Javier Sempere in Alicante, Spain during the peak of his country’s preeminent festival–the Bonfires of Saint John. Held during midsummer, Alicante’s raucous lineup of parties, rituals and street dancing is the largest such bonfire bash in Spain. “The whole city is on fire tonight,” says Sempere from his recently renovated three-story home with
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its latest rate hike, according to Mortgage News Daily. The rate fell even further Friday
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The Municipal Securities Rulemaking Board announced Friday that Meredith Hathorn will be its next chair of the board on the same day that the Securities and Exchange Commission announced the withdrawal of the board’s controversial fee proposal and the MSRB submitted a new version. Hathorn is a managing partner at Foley & Judell in Baton
Argentina’s economic restrictions have reached the sports industry, with the first signing of a local football player with cryptocurrencies hitting national headlines. The transfer of midfielder Giuliano Galoppo from Banfield’s Athletic Club to Sao Paulo Futebol Clube was made in USD Coin (USDC), exceeding $6 million and up to $8 million depending on the volatile
New York City’s issuance of $22 million of special obligation revenue-backed bonds next week is just the latest in a series of deals that local officials hope will help address the future educational needs of a growing and increasingly youthful urban population. The bonds are slated to be priced by Robert W. Baird & Co.
US stocks have rebounded from a tough first half of 2022 as easing interest rate rise expectations and upbeat earnings this month from big tech companies fuelled a broad rally. The blue-chip S&P 500 index was on course to post a 9 per cent gain in July, its best month since November 2020, bolstered by
The governance discussion intensifies as decentralized autonomous organizations (DAOs) become more popular in the blockchain space. The dilemma between giving power to a specific few and the freedom to voluntarily delegate decision power was highlighted in a Twitter thread created by Ethereum (ETH) founder Vitalik Buterin. In a tweet, Buterin brought up an old adage
Jim Magats, former PayPal executive who is being named CEO of the startup MX Photo: Tom Cook MX, the startup competing against Plaid to help connect financial institutions and fintech players, is naming PayPal executive Jim Magats its new CEO, CNBC has learned. Magats, a nearly two-decade PayPal veteran who was most recently senior vice
In this article DXCM AVTR FIVN ROKU INTC AAPL AMZN Amazon signage is displayed outside of an Amazon.com Inc. delivery hub in the late evening of Amazon Prime Day, July 12, 2022 in Culver City, California. Patrick T. Fallon | AFP | Getty Images Here are the stocks making notable moves after hours: Amazon —
During the first six months of 2022, New York City’s Investment Sales market experienced both volume and pricing growth. The market came off a strong year in 2021 and the economic drivers and demand were dominant. Dollar volume in New York City totaled $22 billion in 1H 2022, up 181% year-over-year. In fact, in the
Americans want to know: Is this a recession or not? Officially, the National Bureau of Economic Research defines recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed
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Municipals were stronger and inflows returned Thursday, following a rally in U.S. Treasuries after GDP numbers came in weaker for the second month in a row and a day after the Fed hiked rates 75 basis points. Equities ended in the black. Triple-A municipal yields fell up to eight basis points, depending on the scale,
Bitcoin (BTC) price rallied toward $24,200 on July 28 after a near-10.5% surge that began a day earlier. The gains appeared after Federal Reserve Chairman Jerome Powell signaled intentions to slow down the Fed’s prevailing tightening spree. This prompted some Bitcoin analysts to predict short-term upside continuation, with pseudonymous analyst CryptoHamster seeing BTC at $26,000
Municipal credit quality has reached its peak and several sectors are vulnerable to stronger economic and political headwinds that are likely to impair credit and rating trends for the rest of 2022 and beyond. This is according to a report from Municipal Market Analytics, which revised down its credit outlook for several sectors including hospitals,
The US economy shrank for a second consecutive quarter, meeting one of the common criteria for a technical recession and complicating the Federal Reserve’s push to stamp out soaring inflation with a string of aggressive rate rises. Data published by the commerce department on Thursday showed gross domestic product fell 0.9 per cent on an
Axie Infinity (AXS) has been forming a giant bearish reversal pattern since July last year, which could send its prices down by another 95% in 2022. AXS risks one big breakdown Dubbed the “inverted cup and handle,” the pattern is identified by its large crescent shape followed by a modest upward retracement. It typically resolves
A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. Benoit Tessier | Reuters Check out the companies making headlines after the bell: Meta Platforms — Shares of the social media company
Federal Reserve officials made history on Wednesday by hiking rates by three-quarters of a percentage point for the second straight month, delivering the most aggressive tightening in more than a generation to curb surging inflation, but risking a sharp blow to the economy. Policy makers, facing the hottest price pressures in 40 years, lifted the
The Federal Reserve raised the target federal funds rate by another 0.75 percentage points at the end of its two-day meeting Wednesday, in an effort to curb unrelenting inflation. Fed officials have already raised benchmark short-term borrowing rates 1.5 percentage points this year, including June’s 75-basis point increase, which marked the largest increase in nearly three decades. The
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Municipals were firmer following the Fed’s decision to hike rates another 75 basis points, while U.S. Treasuries rallied on the short end and equities ended up. Despite this being another “outsize rate increase” of 75 basis points, Brian Coulton, chief economist for Fitch Ratings, said “the Fed has still only raised interest rates back into
The bulls are attempting to achieve a strong weekly close for Bitcoin (BTC), while the bears are attempting to regain their advantage. Analysts are closely watching the 200-week moving average, which is at $22,705, and BTC’s current setup suggests that a decisive move is imminent. Many analysts expect a weekly close above the 200-week moving
A panel of crypto industry experts “sees a fairly bright future ahead” for Binance coin, predicting bnb to rise to $781 by 2025 and $1,814 by the end of 2030. One expert explained that “Since the bnb chain ecosystem continues to grow, the price may reach as high as $3,000 in 2030.” BNB’s Price Predictions