Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to a low of $0.914 per unit. The Abracadabra-issued stablecoin dropping in value follows the recent terrausd (UST) failure and USDD’s recent volatility last week. Stablecoin
Texas is getting closer to producing a list of financial companies that it deems to be boycotting energy businesses — a move that could further diminish the number of big banks eligible to underwrite municipal bonds in the state. The looming list and a law barring banks that “discriminate” against the firearm industry from deals
Bitcoin’s price has broken below the key threshold of $20,000 for the first time since November 2020, risking triggering a fresh wave of selling and deepening the crisis gripping the digital asset sector. The largest cryptocurrency, which acts as a benchmark for the broader crypto market, plunged to under $19,000 on Saturday morning, a fall
Here’re the basics of how to read a stock chart. You’ll see what is the best approach and I’ll make it easy for you to understand what a chart is doing. If you’re beginner, this video will help you with reading stock charts in a simple way, so you can start learning one step at
The acquisition of Cancer Treatment Centers of America and financial weaknesses over the past two years have resulted in City of Hope, the Los Angeles region’s world-renowned research and cancer treatment center, receiving a one-notch downgrade to A2 by Moody’s Investors Service. The downgrade to A2 from A1 affects $2 billion in long-term debt issued
Magic Internet Money (MIM), a US dollar-pegged stablecoin of the Abracadabra ecosystem, joins the growing list of tokens losing their $1 value amid an untimely crypto winter. The sudden de-pegging of the MIM token commenced roughly on June 17, 7:40 pm ET, which saw the token’s price drop to $0.926 in just three hours. Terra’s
Federal Reserve Chairman Jerome Powell adjusts his tie as he arrives to testify before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, July 15, 2021. Kevin Lamarque | Reuters Wall Street and the Federal Reserve appeared to enter a new
The total crypto market capitalization fell off a cliff between June 10 and 13 as it broke below $1 trillion for the first time since January 2021. Bitcoin (BTC) fell by 28% within a week and Ether (ETH) faced an agonizing 34.5% correction. Presently, the total crypto capitalization is at $890 million, a 24.5% negative
Whether you live in California or are just visiting, West Hollywood is one of the best neighborhoods to shop for home furnishings. Known to locals as WEHO, this area is frequented by some of the top interior designers visiting the many showrooms at the world-famous Pacific Design Center. But it’s also the home of lots
Getty Images For homeowners, big projects and purchases may be another casualty of rampant inflation, new research suggests. Overall, 60% of homeowners in a recent survey are less comfortable making large purchases for their home or household because of rising prices, according to Hippo Insurance’s 2022 Homeowner Preparedness Report. And 43% either strongly (14%) or
Municipals were little changed Friday after being swept along in a selling rampage at the start of the week, while U.S. Treasuries were weaker and equities were in the black. Muni-to-UST ratios rose, with the 30-year topping 100% for the first time since late May. Ratios were at 71% in five years, 90% in 10
Shares in Asia followed Wall Street lower after the UK and Switzerland raised interest rates, adding to concerns that tighter monetary policies from central banks could undercut a global economic recovery. Japan’s benchmark Topix index and Australia’s S&P/ASX 200 both shed 2 per cent, while South Korea’s Kospi fell 1.7 per cent. China’s CSI 300
Eleven U.S. sites were chosen Thursday to host some of World Cup soccer matches in 2026, an event that could add millions of dollars to a municipality’s coffers. FIFA, the governing body of international soccer, said Miami-Dade County, Atlanta, Philadelphia, Boston and the New York-New Jersey area were among the 11 U.S. locations chosen to
In this article KLAC WBD CMC TSLA TWTR JBL Check out the companies making headlines before the bell: Jabil (JBL) – The contract electronics manufacturer saw its stock rise 1.2% in premarket trading after beating top and bottom-line estimates for its latest quarter. Jabil earned an adjusted $1.72 per share, 10 cents above estimates, and
The housing market continues to teeter with new data today showing a slow down in residential construction as many home builders expect rising mortgage rates to hurt demand for new homes, which could slow the rise of housing prices nationwide. New housing starts fell 14.4 percent in May to an annualized rate of 1.55 million,
Fixed asset investment data for the first five months of 2022 showed real estate investment declined at a greater scale than it did during the first four months of the year. Pictured here on May 16 is a development in Huai’an City in Jiangsu province in east China. CFOTO | Future Publishing | Getty Images
Crypto investors — particularly those that bought in toward the top of the market in 2021 — may be able to find some salvation through a tax-saving strategy called “loss harvesting” according to Koinly’s head of tax. Koinly is one of the most widely-used crypto tax accounting firms online. Head of tax Danny Talwar told
Municipals were little changed on the day while other markets continued to react to the Fed rate hike as U.S. Treasuries were stronger and equities sold off. Refinitiv Lipper reported $5.6 billion of outflows, the highest figure of outflows in 2022, as Monday’s massive selloff contributed to more losses for municipals. That figure is up
Stock markets and eurozone bond prices dropped on Thursday after Switzerland delivered an unexpected interest rate rise, following a sharp boost to borrowing costs by the US Federal Reserve. Europe’s regional Stoxx 600 share index, which rallied on Wednesday after the European Central Bank promised a new mechanism to support weaker eurozone nations from rising
Municipals took a backseat as the Federal Open Market Committee announced its decision to implement a three-quarter point rate hike while U.S. Treasuries rallied into late afternoon following the news. Equities rallied. The move, prompted partly by hotter-than-expected inflation data Friday, is the largest rate hike since 1994. “Investors appear encouraged that the FOMC is