As interest rates continue to rise, the draw of pension obligation bonds appears to be falling fast. A financial instrument that has appealed to many municipalities to remedy underfunded pension plans is once again looking like a losing borrow and bet scheme. “Typically, the biggest risk with POBs is market timing risk,” said Todd Kanaster,
In Maui, life revolves around the beach. The $5.5-million plantation-style residence in Wailuku on Hawaii’s second-largest island takes full advantage of its oceanfront setting. The 4.5-acre property at 490 and 497 Lilihua Place was custom-built in 2020 to maximize access and views. The beach lies right outside the backyard, a perfect location for surfing, kitesurfing,
TotalEnergies, one of the largest foreign investors in Adani, has said it had carried out due diligence “consistent with best practices” when investing $3.1bn in the Indian group targeted by fraud allegations that have triggered a $100bn stock rout. The figure did not include its $4bn investment in a green hydrogen venture with Adani announced
China’s real estate market has slumped in the last two years after Beijing cracked down on developers’ high reliance on debt for growth. Future Publishing | Future Publishing | Getty Images BEIJING — China needs to do more in order to fix its real estate problems, the International Monetary Fund said Friday. The property market
Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the
Municipals were firmer Thursday as municipal bond mutual fund outflows returned, while U.S. Treasuries were steady and equities ended mixed. The three-year muni-UST ratio was at 55%, the five-year at 57%, the 10-year at 63% and the 30-year at 88%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the three at
Illinois chipped away at its long-term obligations in fiscal 2022 with healthy tax revenue growth and federal funds allowing the state to halt a decade long dive deep into negative territory, according to a recently published interim audit. The state’s net position of governmental activities, which covers government services and tax collections and provides a
The memecoin phenomenon didn’t prove as effective in the last month’s crypto market rally, as the gains of the top cryptocurrencies in this category barely outperformed Bitcoin. The monthly gain of Bitcoin (BTC) stood at 44.5%, while the top two meme-based coins, Dogecoin (DOGE) and Shiba Inu (SHIB), gained 27% and 40.7%, respectively. Doge needs
Prospective buyers at an open house in Florida. Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily. The housing market hasn’t seen the rate with a five handle since a brief blip
In this article GWW COIN OKTA APD META LLY FSLR ALGN FDX Follow your favorite stocksCREATE FREE ACCOUNT The Commission took issue with Meta’s pairing of Facebook Marketplace with its personal social network. Budrul Chukrut | SOPA Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. Meta — The
Neal Stephenson’s science fiction novel Snow Crash predicted the Metaverse in 1992. This cult book has the amusingly-named Hiro Protagonist running around in an artificial cyber world, trying to stop a virus that wipes minds, aided by his hacker friend Y.T. Reality is a place to escape from, a neoliberal future wrecked by hyperinflation and
Shell made a record annual profit for 2022 of almost $40bn, beating market expectations in the final three months of year on the back of a strong performance from its gas trading business. Europe’s largest oil and gas company said on Thursday that adjusted earnings had more than doubled to $39.9bn, smashing the previous record
A signage of Adani group is pictured outside the Chatrapati Shivaji Mumbai International Airport in Mumbai on July 28, 2021. (Photo by Indranil MUKHERJEE / AFP) (Photo by INDRANIL MUKHERJEE/AFP via Getty Images) Indranil Mukherjee | Afp | Getty Images On Wednesday, Gautam Adani announced he’s scrapping his firm’s $2.5 billion equity sale. He withdrew
The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed
Municipals were a little firmer in some spots while Treasuries rallied across the board, with yields falling double-digits following the Federal Reserve hiking rates 25 basis points. Equities ended up. “Investors are acknowledging that the Fed is nearing the end of its rate tightening cycle which is supporting a relief rally in stocks and lower
Bolingbrook, Illinois, was downgraded seven notches by S&P Global Ratings, which cited the Chicago suburb’s unwillingness to cover shortages on unrated sales tax revenue bonds as a management and governance risk. The village of 73,000said the downgrade “sets a harmful and disruptive precedent for any credit secured by specific revenues that do not pledge the
Do buyers tell their agents the truth about what they want? The phrase “Buyers are liars” was one of the first I learned when I entered the real estate brokerage business forty years ago, and it has stuck with me for a variety of reasons. 3 But second, and perhaps ultimately more important, the phrase
Name: Tiffany FongAnonymous: No Twitter followers: 51.7K Known for: Breaking leaked info on Celsius and interviewing Sam Bankman-Fried after the FTX collapse Who is Tiffany Fong anyway? Tiffany Fong is 28 years old, has a background in marketing, and describes herself as a “reluctant crypto content creator” who developed a following after $100,000 worth of her crypto
In this article AMZN ARKK Follow your favorite stocksCREATE FREE ACCOUNT Cathie Wood, chief executive officer and chief investment officer, Ark Invest, gestures as she speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida. Marco Bello | Getty Images The growth of automation in the workplace
Rishi Sunak is facing a big test of his authority as he agonises over whether he can sell an outline deal on the Northern Ireland protocol to pro-UK unionist politicians in the region and Eurosceptic Tory MPs. After months of talks, negotiators have briefed Sunak, the UK prime minister, that a deal is taking shape