Federal Reserve Bank of Cleveland President Loretta Mester said the U.S. central bank is close to wrapping up its aggressive tightening campaign if the economy evolves as expected. “Regardless of the decision made at our next meeting, if the economy evolves as anticipated, in my view, we are likely near or at a holding point
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Recent Securities and Exchange Commission enforcement actions signal that regulators are widening their net to charge more types of municipal market participants as so-called gatekeepers against misconduct. So said panelists Thursday at the National Association of Bond Lawyer’s annual conference in Chicago. The SEC’s enforcement division and Public Finance Abuse Unit activities are “reaching all
Federal Reserve policy makers risk slamming the brakes too hard on the economy by reacting aggressively to each data point that comes in, said Mohamed El-Erian, the chief economic adviser at Allianz SE. They should, he said, establish a longer-term vision for where interest-rate policy is heading. “You cannot drive a car without some understanding
Signage is displayed outside of a Comerica Bank branch in Torrance, California, on March 13, 2023. Patrick T. Fallon | AFP | Getty Images Regional banks suffered a steep sell-off Friday after a number of weak quarterly earnings reports highlighting the negative impact from higher interest rates soured investor sentiment toward the industry. The SPDR
The two distinct residential developments of Guoco Midtown offer an exciting blueprint for modern, integrated urban living. Imagine walking through a verdant forest in the heart of a bustling city, where the soothing ambience of nature offers a welcome retreat from the stresses of urban life. This alluring contrast is the essence of Midtown Modern,
The Power Authority of the State of New York is heading into the municipal bond market next week with a $750.975 million issuance of green bonds. Goldman Sachs as senior manager is set to price the Series 2023A tax-exempt transmission project green revenue bonds on Tuesday after a one-day retail order period. Smart Path Connect is a part
Bitcoin (BTC) rose above $30,000 on Oct. 20, indicating that the path of least resistance is to the upside. Grayscale Investments filing a new application with the United States Securities and Exchanges Commission for a new spot Bitcoin ETF may have acted as a bullish trigger. In another positive news for the cryptocurrency space, the
Our weekly roundup of news from East Asia curates the industry’s most important developments. Bitmain allegedly fired staff after salary complaints Bitcoin application-specific integrated circuit (ASIC) mining manufacturer Bitmain has allegedly fired three of its employees for speaking to the media regarding the withholding of salary payments by their employer. According to local news reports on Oct.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The long-awaited delivery of aid to the besieged Gaza Strip has been delayed by disagreements over how to ensure the supplies cannot be used by Hamas, according to three people familiar with the matter. US
Chattanooga, Tennessee, fetched AAA ratings ahead of its planned general obligation bond sale. Fitch Ratings and S&P Global Ratings both affirmed Chattanooga’s AAA issuer rating while assigning the same to an upcoming competitive sale of $40.2 million of general obligation bonds by the city expected on or around Oct. 31. The outlook is stable on
Municipals weakened further Thursday as outflows from muni mutual funds lessened, while short-term U.S. Treasury yields fell after Fed Chairman Jerome Powell suggested central bankers could raise rates again, but not at the upcoming meeting. Equities sold off. The two-year muni-to-Treasury ratio Thursday was at 71%, the three-year was at 71%, the five-year at 70%,
Tarpon Isle, a private island in Palm Beach, Florida. CNBC From Palm Beach to Miami Beach, luxury home prices in Florida’s richest enclaves are reaching new records as billionaires and millionaires continue to buy up property. The average sale price of a home in Palm Beach topped $20 million in the third quarter, making it
From privacy coins to shiny iris-scanning orbs, zero-knowledge proofs have become synonymous with crypto, scalability and privacy. In 2022, investors gave over $700 million in funding to companies pushing the envelope with zero-knowledge proofs. This year, ZK-proofs has arguably become one of the biggest blockchain trends, with several major Ethereum scaling protocols hitting mainnet. ZK-proofs
The Pareto principle, explained The Pareto principle emphasizes how crucial it is to identify key players, major cryptocurrency or influential projects. According to the Pareto principle, commonly referred to as the 80/20 rule, roughly 80% of outcomes result from 20% of causes. Vilfredo Pareto, an economist from Italy, observed that 20% of the population in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Gaza Strip was waiting for humanitarian aid on Thursday, a day after Israel and Egypt agreed to allow basic assistance into the south of the enclave. With US president Joe Biden warning that Israel
Partners in the development of a pair of nuclear reactors in Georgia have settled a legal dispute that threatened the project’s underlying financing structure. Investor-owned Georgia Power and cooperative Oglethorpe Power, primary partners on the construction of two new nuclear reactors at Georgia Power’s Plant Vogtle in Waynesboro, recently agreed to new terms regarding cost-sharing
Municipals faced more pressure Wednesday and two billion-dollar-plus deals for Connecticut and the New York City Transitional Finance Authority saw yields rise up to 12 to 13 basis points from Tuesday’s retail pricings while the third consecutive week of $2 billion plus outflows were reported. U.S. Treasuries saw more losses and equities sold off. Triple-A
In recent studies, we have analyzed and zeroed-in on the richest cities in a number of states of the U.S. South, including Alabama, Florida, and Georgia. We determined the wealthiest cities in each case based on scoring several key financial factors. This time around, we’re looking at another state, one that straddles the South and
Ethereum restaking — proposed by middleware protocol EigenLayer — is a controversial innovation over the past year that has some of the brightest minds worried about the potential ramifications. Restaking involves reusing staked or locked-up Ether tokens to earn fees and rewards. The restaked tokens can then help secure and validate other protocols. Proponents believe
The United Kingdom has emerged as a major cryptocurrency economy worldwide and the biggest crypto country in terms of raw transaction volume in Central, Northern and Western Europe (CNWE), according to a new study. The blockchain analytics firm Chainalysis on Oct. 18 released two new chapters of its 2023 Geography of Cryptocurrency report, including its
M. Elizabeth Walker and Jerimi J. Ullom have joined law firm Barnes & Thornburg’s Indianapolis office as healthcare and public finance partners. The pair moved over from national healthcare-focused Hall Render after more than 15 years there, according to Barnes & Thornburg. “Elizabeth and Jerimi’s legal prowess in the nonprofit healthcare financing arena is a
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