News of the $68 billion budget deficit projected for California in fiscal years 2022-23 and 2023-24 raised alarm bells. But several state budget watchers say longer-term trends are less worrying. Though S&P Global Ratings revised the state’s outlook to stable from positive Friday, the rating agency has said the state remains solidly in the double-A
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Fitch Ratings has raised the Illinois Sports Facilities Authority’s bonds to investment grade, bumping the authority’s rating two notches to BBB from BB-plus, with a rating outlook of stable. The ISFA issued bonds for Guaranteed Rate Field, home of the Major League Baseball Chicago White Sox, and Soldier Field, home, at least for now, of
The Regents of the University of California appears to have dropped Citigroup as a senior manager on an upcoming deal. The issuer is set to come to market with general revenue bonds the week of Jan. 21, according to the university’s investor website. The deal is of an unknown size and preliminary offering documents were
Nassau County, New York, economically defeased $97.79 million of bonds on Monday through the deposit of cash with an escrow agent. The action will reduce its debt burden by $13.5 million in 2024 and by over $20 million in each year through 2029, totaling $115.9 million, according to the county. “Paying off this debt will
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Several Tesla electric vehicles are parked in front of a Tesla service center in the Kearny Mesa region, in San Diego, California, U.S., October 31, 2023. Abhirup Roy | Reuters Marko Sustic has bet big on Tesla this year. The investor, who also happens to
The U.S. Virgin Islands Water and Power Authority said it may stop making payments to debt service funds soon. In a posting to the MSRB’s EMMA website, WAPA said it is running low on cash and may be forced to take this or other cash-conserving steps soon. “If liquidity strains persist, this could result in
House for sale with “For Sale” real estate sign in yard in spring or summer season. No people. Fstop123 | E+ | Getty Images Mortgage demand fell last week compared to the previous week, despite a continued drop in rates, according to the Mortgage Bankers Association‘s seasonally adjusted index. The average contract interest rate for
Stay informed with free updates Simply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox. The UK and US are tightening rules around the shipping of Russian oil in an attempt to make it harder for Moscow to circumvent the so-called price cap, a policy aimed at squeezing
A shopper carries several bags in the Magnificent Mile shopping district of Chicago on Dec. 2, 2023. Taylor Glascock | Bloomberg | Getty Images The U.S. economy has remained remarkably strong but affordability is worse than it has ever been, some social media users say, even when compared to The Great Depression. One of TikTok’s
Experts suggest thinking about how you’ll use your home in future when considering a building project. 10’000 Hours | Digitalvision | Getty Images Extending your home or remodeling your kitchen and bathroom may be an exciting prospect but it’s worth carefully planning the design and build to manage the risks involved, according to specialists who
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Colorado’s supreme court has barred Donald Trump from being included as a candidate in the state’s Republican presidential primary ballot due to his involvement in efforts to overturn the results of the presidential election that
Municipals were steady to slightly firmer in spots while Connecticut priced for institutions with yields lowered from Monday’s retail offering. U.S. Treasury yields fell and equities made more gains. The two-year muni-to-Treasury ratio Tuesday was at 58%, the three-year at 58%, the five-year at 59%, the 10-year at 59% and the 30-year at 87%, according
If bondholders are not allowed a lien on Puerto Rico Electric Power Authority revenues, it could “threaten the continued viability of the primary revenue stream for vast swaths of municipal public works projects,” 14 attorneys general and the Securities Industry and Financial Markets Association said in friend of the court filings with the First Circuit
Demonstrators gather during a protest against the expiration of the eviction moratorium outside of the U.S. Capitol in Washington, D.C., U.S., on Sunday, Aug. 1, 2021. Stefanie Reynolds | Bloomberg | Getty Images Renters burdened by unaffordable housing costs may be at a higher risk of dying sooner, according to a new study published in
Republican presidential candidate, former President Donald Trump arrives at a campaign event at the Hyatt Hotel on December 13, 2023 in Coralville, Iowa. Scott Olson | Getty Images News | Getty Images The judge presiding over the high-stakes civil business fraud trial of former President Donald Trump harshly questioned the credibility of a key expert
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Pentagon has convinced more than a half dozen allies to join a strengthened naval task force in the Red Sea amid mounting attacks by Iran-backed rebels on commercial shipping that have driven oil prices
The Puerto Rico Oversight Board called Friday for dismissal of a Puerto Electric Power Authority bond party suit against Puerto Rico’s central government that had the backing of the PREPA Ad Hoc Group, a separate group of bond parties. GoldenTree Asset Management and bond insurer Syncora Guarantee filed the suit in U.S. District Court for
Municipals were little changed Monday as U.S. Treasuries were weaker and equities ended up. Volume this week is relatively light with the new-issue calendar estimated at $1.6 billion. There are only two deals over $100 million. The Bond Buyer 30-day visible supply sits at $4.03 billion. In the primary market Monday, Jefferies held a one-day
Yuichiro Chino | Moment | Getty Images Like it or not, generative artificial intelligence has arrived on Wall Street — and experts expect it to transform the way firms do business. To be clear, artificial intelligence, like natural language processing and machine learning, has been used by wealth management and asset management firms for years.
Singapore city skyline on September 18, 2016. Rustam Azmi | Getty Images News | Getty Images Asia’s family offices used to have a far bigger appetite for risks compared to their global counterparts — but that could be changing, according to a recent survey. A Citi Private Bank global survey in the third quarter of
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. The head of the IMF has urged Ukraine’s allies to rapidly unlock tens of billions of dollars for the country, as she warned delays in providing the extra funding would jeopardise Kyiv’s tentative economic
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