Stay informed with free updates Simply sign up to the UK interest rates myFT Digest — delivered directly to your inbox. The Bank of England kept rates steady at 5.25 per cent on Thursday as governor Andrew Bailey warned there was “still some way to go” before inflation hit its target. The BoE’s Monetary Policy
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Triple-A municipal bond yields fell a few basis points Wednesday following the Federal Reserve’s decision to hold rates and signal that only three rate cuts were likely in 2024, which sent U.S. Treasury yields plummeting down more than a quarter point on the short end while equities rallied and the Dow Jones Industrial Average closed
The Federal Reserve announced it will leave interest rates unchanged Wednesday, in a move that many believe will conclude the central bank’s rate hike cycle and set the stage for rate cuts in the year ahead. The Fed has raised interest rates 11 times since March 2022 — the fastest pace of tightening since the early 1980s. The
In this article HPQ BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett tours the floor ahead of the Berkshire Hathaway Annual Shareholder’s Meeting in Omaha, Nebraska. David A. Grogan | CNBC Warren Buffett’s conglomerate Berkshire Hathaway has reduced its stake in HP to 5.2%, according to a regulatory filing released Monday night. The conglomerate previously had a nine-day
Two big Illinois issuers have scheduled refunding deals with planned pricings on Thursday, with the Illinois State Toll Highway Authority to issue $900 million of series 2024A senior revenue refunding bonds and Chicago’s Midway Airport to sell $393 million of series 2023C senior revenue refunding bonds. Rising interest rates had made refundings thin on the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK economy unexpectedly contracted in October, driven by falls in every sector and fuelling concerns that high interest rates could push the country into a downturn. Gross domestic product fell 0.3 per cent between
Municipals were mostly steady to a touch softer in secondary trading while newly upgraded gilt-edged Ohio upsized its general obligation refunding deal and repriced to lower yields. U.S. Treasuries improved on the day following cooler inflation data that many participants said would not move the needle on the Federal Reserve’s rates decision Wednesday. Triple-A yields
In this article BLK Follow your favorite stocksCREATE FREE ACCOUNT Wind turbine blades rotate in the tidal flat in Yancheng city, Jiangsu province, China, November 18, 2023. Nurphoto | Nurphoto | Getty Images Top global asset managers including BlackRock are among investors in an Asia-focused infrastructure private equity fund that raised $800 million, underscoring growing
Michael Milken attends Prostate Cancer Foundation’s Dinner At Daniel on November 19, 2019 at Daniel in New York City. Paul Bruinooge | Patrick McMullan | Getty Images Famed investor Michael Milken expects the Federal Reserve will move slowly on monetary policy — if history is any guide. In fact, the Milken Institute founder expects the
The East China headquarters of Country Garden is being shown in Zhenjiang, Jiangsu Province, China, on October 10, 2023. Nurphoto | Nurphoto | Getty Images Embattled Chinese real estate developer Country Garden may avoid a default on its yuan-denominated bonds after most holders of a local note agreed not to demand repayment this week, according to Bloomberg
Municipals saw weakness for the first time since October after falling upward of 100 basis points since then, as investors are digesting the lower muni yield set amid richer ratios and weaker U.S. Treasuries. Triple-A yields rose one to three basis points with larger losses out long, depending on the curve, while USTs were mixed
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Thames Water is facing more than £1bn in debt repayments next year just as MPs heighten their scrutiny of the utility’s financial health. About £1.17bn worth of loans, private placement and bonds are expiring in
Bondholders and other parties involved in the Puerto Rico Electric Power Authority bankruptcy returned to court Friday in an effort to move the needle on their opposing cases seeking better repayment terms. Bond parties defended their adversary complaint against Puerto Rico’s central government’s actions regarding PREPA since the central government emerged from bankruptcy in March
In this article MSFT SQ CRM Follow your favorite stocksCREATE FREE ACCOUNT Salesforce signage outside its office building in New York. Scott Mlyn | CNBC Retail investors are grappling with the gyrations of the stock market as economic data rolls in and the Federal Reserve’s rate decision looms. To avoid making knee-jerk decisions based on
The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting this week after recent signs the economy is in fairly good shape and as inflation continues to drift lower. “While there’s been talk about an imminent recession going back to early last year, the U.S. economy has
Texas and its public schools could face future budget pressures in the wake of last month’s passage of a constitutional amendment to decrease school property taxes, Fitch Ratings said Thursday. Proposition 4 was among 12 other constitutional amendments Texas voters approved Nov. 7 with many of the measures tapping surplus state money for tax relief
Stay informed with free updates Simply sign up to the Monetary policy myFT Digest — delivered directly to your inbox. Leading central banks are preparing to push back at investor predictions of how quickly interest rates will fall, as they meet for the final time this year amid strong employment numbers. Investors have been betting
Alan Appelbaum, former managing director and head of Aegis Capital Corp.’s municipal bond desk, has agreed to settle Securities and Exchange Commission charges that he disregarded his obligations as a broker-dealer and violated antifraud provisions in his recommendation of certain variable interest rate structured products to seven investors. Without admitting or denying the findings, Applebaum,
Close up of Chinese Yuan notes, with Mao Tse-tung Peter Dazeley | The Image Bank | Getty Images China’s recent policy support is aimed at fixing its system and shouldn’t be seen as economic stimulus, according to Societe Generale’s Asia chief economist and head of research. “Actually, to be frank, I don’t think anything [that]
California Gov. Gavin Newsom will need to close a $68 billion shortfall as he wraps up work on the proposed budget for fiscal 2024 that he will present to lawmakers in January. The upshot is that the flooding and massive storms that hit California in early 2023 and pushed income tax filings in the state
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