Muni yields climbed even higher to end the week, while U.S. Treasuries were weaker and equities ended down. Muni yields, after outperforming USTs the prior week, “have adjusted higher in a hurry this week in sympathy with the UST selloff,” said Barclays strategists Mikhail Foux, Clare Pickering and Mayur Patel. Triple-A benchmark yields rose four
Michigan trimmed its revenue estimates Friday to account for tax changes that carry a multi-billion-dollar price tag. The new projections could require roughly $600 million in reduced spending over what Gov. Gretchen Whitmer proposed earlier this year in the fiscal 2024 budget that would take effect Oct. 1. It relies on available revenue from what
The Kroll Bond Rating Agency upgraded Connecticut’s long-term general obligation rating to AA-plus from AA on Thursday. The upgraded rating continues Kroll’s stable outlook and reflected Connecticut’s “strong credit profile and significant and continuing progress in improving its financial position over the last six fiscal years,” the agency said. KBRA pointed in particular to the extension
Bank bosses in the UK have warned that growing numbers of consumers are relying on “shadow credit” during the cost of living crisis by taking out risky loans from the murkier corners of the financial system. “I do think there’s a worry out there that people are moving more and more into unregulated credit,” David
The federal government, five cities and California have struck an agreement they say will cut red tape at all levels of government to reduce homelessness more quickly. The cities selected to participate in the program — Los Angeles, Dallas, Phoenix, Chicago, Seattle — along with California, are home to nearly half of the nation’s homeless
In this article AMZN Follow your favorite stocksCREATE FREE ACCOUNT Starting next week, the first of 8,000 Amazon employees will begin moving into one of two brand new 22-story towers in Arlington, Virginia. Move-in is expected to be complete by the end of the summer. Amazon’s HQ2, formally called Metropolitan Park, has many features that
The city of Vaughan, north of Toronto, Canada, is long on cultural and natural attractions. Canada’s Wonderland amusement park, the McMichael Canadian Art Collection, the quaint Kleinburg Village old town area, the 800-acre Kortright Centre for Conservation and the Vaughan Mills shopping center are among the draws. Vaughan is also filled with family-friendly neighborhoods, an
U.S. Republican Sen. Cynthia Lummis of Wyoming held a fireside chat with the founder and CEO of Chamber of Digital Commerce Perianne Boring during the Bitcoin 2023 event in Miami on May 19. The topics of discussion were the importance of Bitcoin to U.S. national and energy security and the upcoming legislation surrounding cryptocurrency, blockchain,
In this article DIS FL BE Follow your favorite stocksCREATE FREE ACCOUNT Foot Locker Inc. signage is displayed in the window of a store in New York, U.S. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines in midday trading Friday. Bloom Energy — The clean energy stock jumped 5.1% following
Luxury fashion items sit on display beside tablet devices at the launch of the Farfetch “Store of the Future” pop-up exhibition, at the Design Museum in London, U.K., on Wednesday, April 12, 2017. Luke MacGregor | Bloomberg | Getty Images Check out the companies making headlines before the bell. Foot Locker — Shares tumbled more
Ukrainian president Volodymyr Zelenskyy will attend the G7 summit this weekend in person, four people briefed on the preparations told the Financial Times. Zelenskyy is expected to participate in meetings in Hiroshima on Sunday, they said. His unexpected attendance is aimed at bolstering western support of Ukraine as the war with Russia heads towards its
Hong Kong partners with 16 companies to build CBDCs On May 18, the Hong Kong Monetary Authority (HKMA) announced the launch of the cyber Hong Kong dollar pilot project. According to officials, 16 selected companies from the financial payment and technology sectors will conduct the first round of trials this year on the feasibility of
California’s rating outlook was revised to negative from stable Thursday by Moody’s Investors Service amid the state’s revenue uncertainty. The rating agency also affirmed the Aa2 rating on the state’s general obligation bonds, citing the state’s massive economic base and healthy budget reserves and liquidity. The Aa2 rating on the state’s general obligation bonds is
A trio of speakers in attendance at Industry Day, May 18, during the Bitcoin 2023 event in Miami held a discussion on government regulation and how the cryptocurrency industry should fight back against the “anti-crypto army.” Moderated by David Zell, cofounder of the Bitcoin Policy Institute, the panel featured Perianne Boring, Founder and CEO at
As a gusher of federal funding rains down on local governments, challenges and solutions are emerging from the front lines. According to Tampa, Florida Mayor Jane Castor, speaking during a Brookings Institution panel discussion on Thursday in Washington, the city has 31 miles of drinking water pipeline under construction. It also has 34 miles in design
The financial sector witnessed a rapid transformation over the past decade, with technology reshaping the processes of lending, wealth management and payments. The transformation also brought opportunities to invest. TipRanks recognizes Wall Street’s 10 best financial sector analysts for capturing the best investment opportunities. These analysts outperformed in their stock picking and earned significant returns
Prospective buyers attend an open house at a home for sale in Larchmont, New York, US, on Sunday, Jan. 22, 2023. Tiffany Hagler-Geard | Bloomberg | Getty Images Sales of previously owned homes fell 3.4% in April from March to a seasonally adjusted, annualized pace of 4.28 million units, according to the National Association of
Most technological revolutions come with an unforeseen darker side. When Austrian-born physicists Lise Meitner and Otto Frisch first split the atom in the late 1930s, they probably didn’t anticipate their discovery would lead a few years later to the atomic bomb. The artificial intelligence (AI) revolution is arguably no different. AI algorithms have been around
Ukraine’s allies fear military support for its battle against Russia is nearing a peak, with senior European officials increasingly concerned about the flow of aid next year as the US enters a divisive presidential campaign. Washington has been Ukraine’s dominant source of weaponry and US officials say sufficient preapproved funds remain to sustain Kyiv for
The United States Securities and Exchange Commission (SEC) believes Filecoin’s native FIL token is a security, crypto asset manager Grayscale Investments has revealed. According to the May 17 announcement, Grayscale lodged an application with the regulator to launch a Filecoin Trust product on April 14, which would provide investors with indirect exposure to the underlying