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A California Bay Area school district that recently made waves for failing to pass a budget on time sold $352 million of general obligation bonds last week. The district entered the market with a downgrade to its underlying rating, but the deal was bolstered with a bond insurance wrap that covered most maturities. West Contra
Millennium Management, one of the world’s largest hedge fund managers,is considering launching a standalone fund to invest in less liquid assets, including private credit, according to people familiar with the situation. Such a move would mark the first time since it began trading 35 years ago that Izzy Englander’s group has launched a new fund.
Municipals saw gains Thursday, ending four consecutive trading sessions of rising yields. U.S. Treasuries improved and equities ended mixed. Municipal yields fell up to seven basis points, depending on the scale, while UST yields fell one to five basis points. Muni-UST ratios fell slightly. The two-year ratio Thursday was at 66%, the three-year at 65%,
Shreveport, Louisiana, was downgraded by Moody’s Ratings.Adobe Stock Shreveport, Louisiana, was downgraded to Baa2 from Baa1 Wednesday by Moody’s Ratings. The agency maintains a negative outlook on the rating. The downgrade of Shreveport’s issuer, general obligation and senior revenue ratings will affect $2.1 billion in debt when the city completes the anticipated $88 million Series
In this article XRP.CM= BTC.CM= Follow your favorite stocksCREATE FREE ACCOUNT Brad Garlinghouse, CEO of Ripple, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2022. Mike Blake | Reuters Ripple Labs CEO Brad Garlinghouse has been skeptical of crypto regulation in the U.S., but he is feeling highly
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is chancellor of the exchequer The Budget next week will deliver on the promise of change. That change will be driven by this government’s number one mission — to deliver sustainable growth after
In this article BTC.CM= Follow your favorite stocksCREATE FREE ACCOUNT [The stream is slated to start at 2:55 p.m. ET. Please refresh the page if you do not see a player above at that time.] Ripple Labs CEO Brad Garlinghouse will speak at DC Fintech Week in Washington, D.C., on Wednesday afternoon. Ripple, the largest
Bond traders are at it again, pushing Treasury yields higher and signaling the Federal Reserve was too heavy-handed when it cut interest rates by a half-percentage point last month. The recently rising yields have put pressure on the stock market — and specifically, names in our portfolio tied to housing. The 10-year Treasury yield —
Municipals saw a sharp correction Wednesday, with yields rising double-digits as the asset class played catch up to U.S. Treasuries after recent outperformance led to too-rich ratios. Deals in the primary repriced to higher yields as a result. Muni yields rose five to 18 basis points, depending on the scale, pushing the 10-year above 3%
Houston Controller Chris Hollins’ investor conference took place Tuesday without the participation of key city officials after Mayor John Whitmore raised “pay-to-play” concerns about corporate sponsorships for the event and requested a city probe. Hollins countered on Tuesday, calling on the Houston inspector general’s office to also investigate corporate sponsorships for the mayor’s Sept. 17
Twenty/20 Saving for a home down payment can feel challenging, given current real estate prices. Using the right assets can help give your balance a lift. When you actually need the money is the “biggest driving factor,” said Ryan Dennehy, principal and financial advisor at California Financial Advisors in San Ramon, California. The firm ranked No.
[The stream is slated to start at 9:05 a.m. ET. Please refresh the page if you do not see a player above at that time.] Rostin Behnam, chairman of the Commodity Futures Trading Commission, is speaking at DC Fintech Week in Washington, D.C. on Wednesday morning. The agency is in a critical period: The CFTC
Sales of previously owned homes fell 1% in September compared with August, to a seasonally adjusted, annualized rate of 3.84 million units, the slowest pace since October 2010, according to the National Association of Realtors. Sales were 3.5% lower than in September 2023. Sales fell in three out of four U.S. regions, with just the
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage demand moved lower again last week, even though mortgage interest rates didn’t move. Total mortgage application volume dropped 6.7% from the previous week, hitting its lowest level since July, according to the Mortgage Bankers
Pioneers sometimes get undue credit for simply being the first of many trying to reach the promised land. Even if they had never been born, their discovery would have happened around the same time anyway. Other times they become the figurehead of what was really a collective breakthrough. But if there was a true father
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Municipals extended their selloff with the largest losses on the short end amid another busy day in the primary market, led by an upsized JFK Airport Terminal 6 Redevelopment Project deal. U.S. Treasuries were little changed and equities ended mixed. Triple-A yields rose three to 12 basis points, playing some catch up after recent outperformance.
As the election looms, tax specialists and politicos are gaming out what might happen to key provisions of the Tax Cuts and Jobs Act, including the deduction cap on state and local taxes. “There’s an interesting set of bedfellows and partnerships that could emerge on SALT,” said Arshi Siddiqui, a partner at Akin, and a
Municipals were weaker Monday following U.S. Treasury market pressures while equities ended down. Triple-A yields rose up to seven basis points while govies were higher by eight to 12 basis points. Short ratios fell as a result of the day’s moves. The two-year muni-to-Treasury ratio Monday day was at 61%, the three-year at 61%, the
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