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Munis were weaker to close out the week, playing catch up to Thursday’s larger U.S. Treasury losses and preparing for a larger new-issue calendar led by billion-dollar issues from the New York Dormitory Authority and triple-A rated Minnesota, along with multiple large deals from Texas school districts. U.S. Treasuries were firmer Friday and equities rallied.
Signage outside Intel headquarters in Santa Clara, California, Jan. 30, 2023. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Intel — The chip stock jumped more than 6% after the company posted better-than-expected second-quarter earnings results. The latest quarter marked a return to profitability after two consecutive losing
Environmental, social, and governance capital programs continue to flourish under increased scrutiny, said one presenter at a recent securities industry event. Climate change may be nothing new, said Trenton J. Allen, CEO of Sustainable Capital Advisors, but the “growing appetite” for suitably focused investments is, and issuers and investors alike can benefit from strategies to
Travellers determined to take to the skies despite soaring ticket prices have pushed airline profits to fresh heights, as resilient consumer spending buoys the global economy. As they reported record profits on Friday, British Airways-owner IAG said trips across the Atlantic and to leisure destinations had been particularly popular “as customers prioritise holidays”, while Air
Congress adjourned for its long summer break Thursday still far apart on top-line 2024 spending levels with only a few weeks left to reconcile the difference. There are also looming deadlines to pass a new farm bill and reauthorize the Federal Aviation Administration. Congress faces a partial government shutdown if it hasn’t passed funding bills
Social media platform X — formerly known as Twitter — may soon advance plans to add financial services to its users, hoping to become the American equivalent of the Chinese super-app WeChat. The concept of super-apps isn’t new. Tech giant Tencent, the company behind WeChat, has been refining the model since 2011. Like Twitter, it
The Municipal Securities Rulemaking Board has voted to move ahead with its controversial amendments to Rule G-14 on trade reporting, changing the trade reporting window to one minute from 15 minutes. That was approved during its quarterly board meeting that took place July 26-27, during which the board also approved a new $47 million budget
Hospitals, already facing multiple challenges, are being stressed by a heat wave that has hit a large swath of the United States, according to a Moody’s Investors Service analyst. A heat dome that initially impacted California and Texas has spread across most of the southwest and is also affecting some Northwest states like Idaho. An
Issuers have had to become creative to derive interest cost savings in the years since the Tax Cuts and Jobs Act of 2017 eliminated the tax-exempt advanced refunding option. A clear successor has yet to emerge, but rising interest rates, falling prices and fluctuating relative value prompted issuers to consider tender offers as a way
In this article PG ROKU INTC Follow your favorite stocksCREATE FREE ACCOUNT Signage outside Intel headquarters in Santa Clara, California, on Monday, Jan. 30, 2023. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines before the bell. Intel — Shares popped 6.7% after the chipmaker posted better-than-expected second-quarter results and
Blake Washington was appointed Thursday to be New York’s budget director. Washington, secretary to the New York State Assembly Ways and Means Committee, where he advises the Speaker and Assembly members on all budget and fiscal matters, was chosen for the post by New York Gov. Kathy Hochul. “With years of public service and a deep
The Kyrgyz Republic, a central Asian state bordering China, is reportedly growing its cryptocurrency mining powers with support of the local government. Kyrgyz President Sadyr Japarov has given a nod to building a crypto mining farm at a hydroelectric power plant, Kyrgyzstan’s national news agency Kabar reported on July 27. The government of Kyrgyzstan plans
A residential complex constructed by Evergrande in Huai’an, Jiangsu, China, on July 20, 2023. Future Publishing | Future Publishing | Getty Images BEIJING — China’s housing ministry has announced plans to make it easier for people to buy property. The news, out late Thursday, indicates how different levels of government are starting to act just
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Donald Trump has been accused of attempting to have surveillance video footage at his Mar-a-Lago estate deleted ahead of an FBI search, as federal prosecutors added more criminal counts to a case over the former US president’s handling of classified documents. The Department of Justice filed the expanded indictment on Thursday. Federal prosecutors also added
Munis yields rose Thursday, following and outperforming a U.S. Treasury sell-off on the heels of strong-than-expected economic data. Equities ended down. Thursday’s “economic data offers the latest evidence that the U.S. economy is weathering the fastest rate hikes in a generation without much damage to the major gear-works of the economy,” said Wells Fargo Securities
The Optimism network has surpassed Arbitrum in transaction volume for the first time in six months, according to July 27 data from blockchain analytics platform Artemis. Both networks are layer 2s of Ethereum that use optimistic rollup technology, which compresses and batches transactions before submitting them to Ethereum, potentially lowering transaction fees. Optimism fell behind
A KKR logo is displayed on the floor of the New York Stock Exchange (NYSE), August 23, 2018. Brendan McDermid | Reuters Private equity firms should be motivated to hunt for deals despite the challenging interest rate environment as the potential purchase price tends to be more in their favor, according to KKR’s Global Co-Head
(Click here to subscribe to the Delivering Alpha newsletter.) The job market may be strong, but the invisible strings that connect workers to their jobs are increasingly weaker. Trends such as “lazy girl jobs” and “quiet quitting” have gone viral in a post-pandemic world where young workers are trading ambition for balance. Actors and writers continue to