Patchogue, N.Y.: A For Sale sign hangs in front of a house in Patchogue, New York, on June 1, 2024. Steve Pfost | Newsday | Getty Images Mortgage rates moved slightly lower again last week, keeping refinance demand on the rise. Applications to refinance a home loan jumped 10% compared with the previous week and
<img src=”https://public.flourish.studio/visualisation/21638175/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer ahead of a smaller new-issue calendar, as U.S. Treasury yields fell and equities ended mixed. “A solid January employment report already halted the Treasury market rally last Friday,” while this week’s consumer price index report caused more “bear steepening” of the Treasury curve, said BofA strategists.
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The writer is author of ‘Command’ and the Substack ‘Comment is Freed’ On Wednesday, US President Donald Trump and Russian President Vladimir Putin agreed to establish a negotiating process to end the Russo-Ukrainian war.
“Losing tax-exempt bonds would devastate American communities and set economic development efforts back decades,” said Toby Rittner, president and CEO of the Council of Development Finance Agencies. ”Communities use bonds to finance their built environment, infrastructure, schools and future growth needs. The housing industry uses bonds for affordable, senior and workforce housing. There are no alternatives
A man exits the Iron Mountain Inc. data storage facility in Boyers, Pennsylvania, U.S., on Tuesday, Feb. 13, 2018. The underground data center, located in a former limestone mine, stores 200 acres of physical data for many clients including the federal government. Stephanie Strasburg | Bloomberg | Getty Images Elon Musk stood beside a seated
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC is preparing to unveil $1.5bn of annual cost savings from chief executive Georges Elhedery’s radical overhaul of the bank. Europe’s largest lender will lay out the figures for the first time on Wednesday, February
The city of New Orleans is still rebuilding and repairing homes that were damaged in the fallout from 2005’s Hurricane Katrina. The storm flooded hundreds of thousands of homes in New Orleans, killed over 1,800 people and displaced millions. It remains the costliest tropical cyclone in U.S. history, with an estimated $201.3 billion in associated
<img src=”https://public.flourish.studio/visualisation/21620339/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Thursday, as U.S. Treasury yields rallied and equities ended up. The two-year municipal to UST ratio Thursday was at 63%, the five-year at 64%, the 10-year at 67% and the 30-year at 86%, according to Municipal Market Data’s 3 p.m. EST read. ICE Data Services had
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Activist Elliott Management has become BP’s third-largest shareholder after building a near-5 per cent stake worth almost £3.8bn, as it seeks to force the troubled UK oil major to cut spending on renewable energy and
&lt;img src=”https://public.flourish.studio/visualisation/21601827/thumbnail” width=”100%” alt=”chart visualization” /&gt; Municipals sold off Wednesday, moving higher in sympathy with U.S. Treasuries after hotter-than-expected inflation data showed the Fed may not be able to cut rates this year. Equities ended mixed. Muni yields were cut six to 12 basis points Wednesday, depending on the curve, while UST yields rose eight
A water tower at the U.S. Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, on Sept. 4, 2024. Justin Merriman | Bloomberg | Getty Images Steel and aluminum stocks surged Monday after President Donald Trump said he will impose 25% duties on all imports of the metals into the U.S. Cleveland-Cliffs rallied nearly
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chancellor Rachel Reeves is not expecting to get credit from the UK’s fiscal watchdog for her attempts to boost growth when it publishes its official forecasts next month. Reeves is braced for a steep downgrade
People walk by a sign for Freddie Mac headquarters on July 14, 2008 in McLean, Virginia. AFP Photo/Paul J. Richards (Photo credit should read PAUL J. RICHARDS/AFP via Getty Images) Paul J. Richards | Afp | Getty Images Fannie Mae and Freddie Mac — the two giant mortgage finance firms controlled by the federal government
“There’s still much work to be done, but we are starting on the right path,” House Speaker Mike Johnson, R-La., said about a budget resolution that outlines topline numbers for a massive tax bill.Bloomberg News The House released its long-awaited budget resolution Wednesday, a key step toward crafting a massive tax package that’s being closely
Holding bitcoin is cool again. President Donald Trump has vowed to make America the “crypto capital of the planet”, words that have helped supercharge the token’s price to eye-watering six-figure highs. Wall Street banks and money managers are preparing to jump in. Investors hope Trump will turn the often-derided token into a mainstream financial asset
Puerto Rico Oversight Board Executive Director Robert Mujica suggested non-settling bondholders might be offered recoveries of about 4% of the principal due.Darren McGee Office of New York Gov. Kathy Hochul The Puerto Rico Oversight Board is saying it will not improve its offer to creditors of the Puerto Rico Electric Power Authority. The board will
Ken Griffin, founder and CEO of Citadel, speaks during The New York Times’ annual DealBook Summit in New York City, Dec. 4, 2024. Michael M. Santiago | Getty Images Citadel CEO Ken Griffin sent a stern warning against the negative impact from President Donald Trump‘s combative approach to U.S. trade policy. “From my vantage point, the
Israel’s Prime Minister Benjamin Netanyahu ordered his military to mass around the Gaza Strip and threatened to resume “intensive fighting” against Hamas if the Palestinian militant group failed to release Israeli hostages by midday on Saturday. Netanyahu’s ultimatum on Tuesday came after Hamas’s announcement that it was delaying “until further notice” the planned release of
The growth of ETFs in the municipal bond space promotes secondary market liquidity, said Patrick Luby, head of municipals and senior municipal strategist, CreditSights. CreditSights BlackRock converted its high-yield municipal bond mutual fund into an actively-managed high-yield exchange-traded fund this week as ETFs continue to grow in popularity in the muni market. There are now 114 municipal
<img src=”https://public.flourish.studio/visualisation/21560546/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady Monday as U.S. Treasuries were narrowly mixed and equities ended up. Munis continued their January rally heading into the first week of the month as the asset class saw gains of 0.43%, bringing year-to-date gains to 0.94%, said Jason Wong, vice president of municipals at AmeriVet
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