After selling off for a week and a half, munis ended Friday’s session firmer, but September losses moved the asset class into the red for the year, returning -1.79%. “September and to a lesser degree October have not been kind to municipal investors in recent history, with average returns of -5.7% and -1.8%, respectively, going
Receive free BP PLC updates We’ll send you a myFT Daily Digest email rounding up the latest BP PLC news every morning. The allegations that prompted Bernard Looney’s resignation from BP included an accusation that the chief executive promoted women with whom he had undisclosed past relationships, according to people familiar with the matter. The
Bitcoin (BTC) bulls lost their grip on $27,000 into Sep. 30 as the monthly and quarterly close loomed large. BTC/USD 1-hour chart. Source: TradingView Bitcoin braces for three key candle closes Data from Cointelegraph Markets Pro and TradingView tracked a cooling off for BTC price action ahead of the key September candle print. The largest
Spartanburg, South Carolina, will soon be home to another city’s minor league baseball team with the help of the city’s largest-ever economic development package. Spartanburg’s city council approved a $425 million public-private partnership development deal on Tuesday, anchored on a new 3,500-seat minor league baseball stadium officials said will help revitalize the city’s downtown area.
Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in NYC on Sept. 28th, 2023. Adam Jeffery | CNBC Billionaire investor Bill Ackman said Friday that U.S. regulators have approved his unique special purpose acquisition company structure, and he’s ready to hunt for a deal. Investors in Ackman’s unfruitful SPAC, known as
Tesla CEO Elon Musk arrives for a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., on Sept. 13, 2023. Andrew Caballero-Reynolds | AFP | Getty Images Check out the companies making headlines in midday trading. Tesla — Stock in the electric vehicle company added more than 2% in midday
If you’re selling a residential or commercial property, getting a top-notch broker’s opinion of value can work in your favor. You’ll want to work with someone who is aware of what has sold in the past in the market, along with the current environment. It will be helpful if the broker has access to additional
Banks are facing mounting uncertainty as the commercial real estate (CRE) sector continues to struggle. But, tailwinds in our financial names should help safeguard their bottom lines. Club names Wells Fargo (WFC) and Morgan Stanley (MS) have bright spots in their operations that can offset potential weakness from CRE exposure. We’re optimistic about green shoots
Bitcoin (BTC) is attempting to trade above $27,000 which is a positive sign. In the past few days, Bitcoin’s price held up above $26,000 in adverse conditions when the United States dollar index (DXY) was rising sharply and the S&P 500 index (SPX) was plunging. This suggests that selling dries up at lower levels. The
September municipal bond issuance rose slightly year-over-year, becoming the first month of 2023 to see supply increase from 2022 levels, as several billion-dollar deals were priced and a general market acceptance of the Fed’s ‘higher for longer’ stance took hold. Led by tax-exempt, new-money deals, September’s total volume ticked up 1.2% to $27.585 billion in
Receive free Eurozone inflation updates We’ll send you a myFT Daily Digest email rounding up the latest Eurozone inflation news every morning. Eurozone inflation has fallen to its lowest level for almost two years, bolstering hopes that the biggest surge in consumer prices for a generation is fading fast and paving the way for the
European cryptocurrency investment firm CoinShares is optimistic about cryptocurrency regulation in the United States as the firm enters the new market. On Sept. 22, CoinShares officially announced the launch of its new division, CoinShares Hedge Fund Solutions, marking the first time the firm introduce its offerings to qualified U.S. investors. CoinShares’ entrance into the U.S. market
Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese worker fined $145K over VPN An unnamed individual in China was fined 1.06 million Yuan ($144,907) for using a virtual private network (VPN) to access restricted websites as part of a remote work routine for a foreign employer. According to
Massachusetts’ House of Representatives passed a hotly debated series of tax cuts this week. Following months of legislative back-and-forth on the package’s provisions, state representatives voted 55-1 Wednesday to pass a series of tax cuts expected to provide $561 billion in breaks across its first year. The bill has seen revision after revision since Gov.
In this article NVDA MSFT META Follow your favorite stocksCREATE FREE ACCOUNT Brad Gerstner, Altimeter Founder & CEO, speaking at the Delivering Alpha conference in NYC on Sept. 28th, 2023. Adam Jeffery | CNBC Altimeter Capital Chair and CEO Brad Gerstner is massively bullish on artificial intelligence, saying the power of the advanced technology could
In this article JEF DUOL MU PTON KMX CSA-FF Follow your favorite stocksCREATE FREE ACCOUNT The Trimble logo is displayed on a smartphone. Igor Golovniov | SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading. Trimble — The technology services provider jumped about 6.4% on Thursday on the
The American Dream used to include a house with a white picket fence. And then, at some point, expectations grew larger and more grandiose (perhaps coinciding with Dallas, and Dynasty, two wildly popular prime time TV soap operas with the wealthy, sprawling settings). Some single-family homes rivaled hotels or B&Bs, and had four- and five-car
China Evergrande Group’s logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty Images A day after China Evergrande’s shares were suspended in Hong Kong, the beleaguered Chinese property firm revealed that its director and executive chairman is under scrutiny over suspected crimes.
Municipal bonds tied to Destiny USA, the biggest shopping mall in New York state, were cut deeper into junk by Moody’s Investors Service on Wednesday because the complex is unlikely to meet a key measure of profitability needed to extend an outstanding loan. Moody’s lowered the rating on municipal bonds backed by payments in lieu
Receive free Sovereign bonds updates We’ll send you a myFT Daily Digest email rounding up the latest Sovereign bonds news every morning. European government bond prices dropped sharply on Thursday as investors took fright at Italy’s larger than expected budget deficit and mounting concerns that central banks will keep interest rates high for an extended
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