<img src=”https://public.flourish.studio/visualisation/20962238/thumbnail” width=”100%” alt=”chart visualization” /> Municipals ignored losses in U.S. Treasuries Friday ahead of another week without new-issue supply to provide direction. Equities saw losses. Triple-A muni yield curves were unchanged while USTs saw losses of up to six basis points while the 10-year UST closed the session above 4.6%. While Friday’s muni session
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Global corporate debt sales soared to a record $8tn this year, as companies took advantage of red-hot demand from investors to accelerate their borrowing plans. Issuance of corporate bonds and leveraged loans climbed by more
S&P Global Ratings Adobe Stock A sharp decline in debt service coverage helped drive a four-notch downgrade and CreditWatch placement for wastewater revenue bonds issued by Salinas, California. S&P Global Ratings Monday cut the debt to BBB-plus from AA-minus and put the rating on CreditWatch with negative implications. “The downgrade reflects our view of the
Stay informed with free updates Simply sign up to the Private equity myFT Digest — delivered directly to your inbox. The wealth of US private capital bosses jumped by more than $56bn in 2024 as shares of Blackstone, Apollo and KKR hit new highs, fuelled by rapid growth and their addition to the main US
“This ruling protects critical funding that helps us provide public safety, infrastructure and other essential services for our residents,” Round Rock Mayor Craig Morgan said.City of Round Rock, Texas A Texas judge ruled largely in favor of six cities that sued the state comptroller over a move that would have cost them millions of dollars
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Finnish authorities are investigating an oil tanker that is part of Russia’s shadow fleet over whether it cut an electricity cable between Finland and Estonia. The Eagle S was stopped by Finnish authorities after the
<img src=”https://public.flourish.studio/visualisation/20953080/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Thursday along with U.S. Treasuries while equities made gains. Mutual funds saw more outflows while money market funds were back in the black. The market is in a “seasonal winter softness” period where technicals are weak at the moment, said Jeff Timlin, a managing partner
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Russian anti-aircraft fire may have caused a plane to crash in Kazakhstan on Christmas Day, according to defence experts and officials in the region. The Azerbaijan Airlines flight was en route from Azerbaijan’s capital Baku
President-elect Donald Trump, pictured here at the December reopening of the Cathedral of Notre-Dame, has pledged to shift the country’s energy and infrastructure priorities.Nathan Laine/Bloomberg The outlook for the public infrastructure market next year is a mix of optimism and uncertainty as municipal market participants look forward to a rush of projects amid threats to
Every night without fail, a mobile phone rings in the Holy Family church in Gaza, and a parish priest answers. The voice at the end of the line is that of Pope Francis, head of the Catholic Church and spiritual leader to a global flock of 1.4bn people. For more than a year, the pontiff
In this article NVDA Follow your favorite stocksCREATE FREE ACCOUNT Jensen Huang, CEO of Nvidia, arrives for the Inaugural AI Insight Forum in the Russell Building on Capitol Hill on Sept. 13, 2023. Tom Williams | CQ-Roll Call, Inc. | Getty Images As Michael MacGillivray saw artificial intelligence becoming more ubiquitous in everyday life, the
Jeff Greenberg | Universal Images Group | Getty Images Mortgage rates moved markedly higher last week, causing overall mortgage demand to drop. Total application volume fell 0.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the first decline in five weeks. The average contract interest rate for
Laura Dougherty, staff attorney for the Howard Jarvis Association, was granted a one-month extension to Jan. 31 to file briefs in the case against San Jose.Howard Jarvis Taxpayer Association The California Supreme Court agreed to an extension for filing briefs in San Jose v. Howard Jarvis Taxpayer Association, the primary case challenging cities’ use of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. De Beers Group has amassed its biggest stockpile of diamonds since the 2008 financial crisis, laying bare the group’s challenge in reviving demand for jewels long seen as the pinnacle of luxury. A slump in
Chicago’s 2025 budget does not materially alter its credit profile, Moody’s Ratings said this week.Bloomberg News Chicago’s 2025 budget that passed the City Council this month will not materially alter the city’s credit profile, Moody’s Ratings said in a Monday statement. The final 2025 budget featured no property tax hike, and received criticism for using
Sir Keir Starmer’s friends say the prime minister needs a holiday. After a year of electoral triumph followed by a precipitous drop in support — with no time off in between — the UK Labour party’s high command appears exhausted. “He needs a break, they all need a break,” said one confidant. “These are people
Eyecrave Productions | E+ | Getty Images Buying a house is not easy or cheap, especially in today’s market. But while it’s too soon to tell whether the housing market is going to favor buyers or sellers next year, some areas will offer more favorable market conditions than others, according to a new report by
<img src=”https://public.flourish.studio/visualisation/20935176/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady to slightly weaker Tuesday as U.S. Treasuries closed the session a bit stronger while equities were in the black. The two-year municipal to UST ratio Tuesday was at 65%, the five-year at 65%, the 10-year at 67% and the 30-year at 82%, according to Municipal Market
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US companies are defaulting on junk loans at the fastest rate in four years, as they struggle to refinance a wave of cheap borrowing that followed the Covid pandemic. Defaults in the global leveraged loan
<img src=”https://public.flourish.studio/visualisation/20924481/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Monday ahead of the holidays as U.S. Treasury yields rose and equities were mixed. The two-year municipal to UST ratio Monday was at 64%, the five-year at 65%, the 10-year at 67% and the 30-year at 82%, according to Municipal Market Data’s 3 p.m. EST
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