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The Federal Reserve announced Wednesday it will leave interest rates unchanged as inflation continues to prove stickier than expected. However, the move also dashes hopes that the Fed will be able to start cutting rates soon and relieve consumers from sky-high borrowing costs. The market is now pricing in one rate cut later in the year, according to the CME’s
Municipals were little changed Wednesday as U.S. Treasury yields fell and equities rallied after the Federal Reserve held rates steady. “There was a collective sigh of relief in the financial markets after the Fed refrained from increasing its hawkishness at the May FOMC meeting,” said Jack McIntyre, portfolio manager at Brandywine Global. “In fact, nothing really
In this article MSFT Follow your favorite stocksCREATE FREE ACCOUNT Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella speaks at a live Microsoft event in the Manhattan borough of New York City, October 26, 2016. Lucas Jackson | Reuters Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to
Saudi Arabia’s economy minister rejected recent reports that the kingdom’s $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. “All projects are moving full steam ahead,” Faisal Al Ibrahim told CNBC’s Dan Murphy on Monday at the World Economic Forum’s special meeting in Riyadh.
An aerial view shows a subdivision that has replaced the once rural landscape in Hawthorn Woods, Illinois. Scott Olson | Getty Images When mortgage rates rise, consumers look for any way to lower their monthly payments, and that often leads them to adjustable-rate mortgages. These loans offer lower interest rates than their fixed-rate counterparts but
The Financial Industry Regulatory Authority has fined RBC Capital Markets $15,000 for violating Municipal Securities Rulemaking Board Rules G-15 on confirmation, G-8 on books and records and G-27 on supervision for their role in sending incorrect confirmations on municipal securities transactions. Municipal securities violations represent only a portion of the transactions FINRA highlighted in its
Upcoming highly-rated offerings from two Virginia agencies and the state of Delaware should provide some direction for yield curves as the market digests larger supply. Delaware is putting $367 million of general obligation bonds out for competitive bid on Tuesday.   The Virginia Resources Authority is set to price Tuesday $135.73 million of Virginia Pooled Financing Program infrastructure
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Scotland’s beleaguered first minister Humza Yousaf is considering quitting ahead of crunch votes of no confidence expected this week. Yousaf, who faces two attempts to bring down his premiership and government, is set to decide