Municipals were little changed Friday, once again ignoring losses in the U.S. Treasury and equity markets that were digesting higher-than-expected inflation data and macroeconomic concerns. While the consumer price index came in nearly as expected on Thursday, Friday’s producer price index came in higher than expected, leaving some analysts to fear more Federal Reserve rate
Hawaii Gov. Josh Green called the fires that have devastated Maui and resulted in 55 confirmed deaths, “likely the largest natural disaster in Hawaii state history.” The wildfires that started Tuesday on Maui have burned at least 20 square miles, 13,000 acres, including the coastal town of Lahaina, according to a live map created by
On this week’s episode of Macro Markets, Cointelegraph analyst and writer Marcel Pechman explores the United States debt downgrade by Fitch Ratings. According to Pechman, this change signaled diminished confidence in the U.S. government’s ability to handle its fiscal responsibilities. The downgrade nudged investors into a cautious stance, leading many to move their money out
Amtrak and Texas railroad company Texas Central announced Wednesday they’re eying a partnership to breathe life into a long-stalled and controversial bullet train between Houston and Dallas. “If we are going to add more high-speed rail to this country, the Dallas to Houston corridor is a compelling proposition and offers great potential,” Amtrak Senior Vice
Connecticut officials say a debt service reserve fund insurance policy allowed them to fund the state’s new baby bond trust without resorting to borrowing. Since July 1 newborns birthed under Connecticut’s Medicaid program, Husky, have been automatically enrolled in CT Baby Bonds and credited with $3,200 deposit that will be invested on their behalf. Between
The White House’s supplemental funding request, sent to Congress yesterday, aims to pass $40 billion in additional funding measures and includes a $12 billion injection for the Federal Emergency Management Agency’s dwindling Disaster Relief Fund, but some are pushing for it to be considered as a standalone bill over fears that it could be held
A “substantial number” of Puerto Rico Electric Power Authority bondholders agreed in principle to a settlement, the Puerto Rico Oversight Board announced Thursday afternoon. As a result, the board sought and received an extension to Aug. 18 for the deadline to submit a proposed plan of adjustment. Board Spokesman Matthias Rieker said the board wouldn’t
Grails by PROOF Season IV Collecting art is historically not just about the art itself but who the artist is and the story behind the piece. The emergence of NFTs as a way to attribute provenance to digital objects has seen an explosion of interest in the past few years, even if that’s currently seeing
Country Garden Holdings Co.’s Fengming Haishang residential development in Shanghai, China, on Tuesday, July 12, 2022. Qilai Shen | Bloomberg | Getty Images Shares of beleaguered Chinese real estate company Country Garden Holdings slumped to an all-time low on Friday as the company issued a profit warning a day earlier. The stock fell to an
Years late and billions of dollars over budget — but finally producing electricity. The milestone of full operations for the Plant Vogtle unit 3 nuclear reactor in Georgia has improved the rating outlook for three utilities that contracted to take its electricity. Georgia-based MEAG Power, Jacksonville’s city-owned JEA utility and Alabama-based PowerSouth Energy Cooperative, partners
Municipals were slightly firmer Thursday, outperforming U.S. Treasuries, as the last large new-issues of the week priced and mutual fund inflows returned. U.S. Treasuries saw losses across the curve following the July inflation read while equities closed out the session in the black. While the consumer price index came in mostly as expected, analysts remain
US inflation in July is expected to have risen at roughly the same pace as in June, suggesting that price pressures in the world’s biggest economy are continuing to ease and strengthening the case for the Federal Reserve to hold interest rates steady at its next meeting in September. The consumer price index (CPI) is
Private phone booth at One Wall Street Courtesy: One Wall Street The latest must-have amenity in luxury New York City apartment buildings: a designated coworking space for remote workers. Apartment developers are building out private offices, conference rooms and even podcasting booths to capitalize on a lingering work-from-home trend. Even as workplaces reopen, 59% of
Binance Labs, the venture arm of cryptocurrency exchange Binance, has invested $5 million in Curve (CRV), the namesake token of the decentralized stablecoin trading platform. “Curve is the largest stableswap and second-largest DEX [decentralized exchange], with approximately $2.4B in total value locked and $215M in daily volume at the time of writing,” Binance Labs said
Forest Heights Boulevard is a tony residential street in Toronto’s St. Andrew-Windfields area. “It’s a sought-after neighborhood with large estates and mature trees,” says Patricia Sun of Barry Cohen Homes. Affluent and tranquil, this part of North York is close to schools, parks, playgrounds, sports fields and the expressway. The 2018-built residence combines traditional and
In this article APP DIS TTD SIX WYNN Follow your favorite stocksCREATE FREE ACCOUNT A shopper looking at Michael Kors handbags in Macy’s flagship store in New York. Scott Mlyn | CNBC Check out the companies making headlines before the bell: Capri, Tapestry — Capri soared more than 57%, while Tapestry slid 3.2% in premarket
Pictured here are residential buildings developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023. Qilai Shen | Bloomberg | Getty Images BEIJING — Two years after Evergrande’s debt troubles, worries about China’s real estate sector are coming to the forefront again. Country Garden, one of the largest non-state-owned
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Municipals were firmer and Wednesday’s larger new-issue calendar was well received while U.S. Treasuries were weaker on the short end but improved 10 years and out. Equities were in the black as markets await Thursday’s monthly inflation data. “U.S. stocks pared losses after a strong auction signaled that Wall Street is very confident that inflation