Guam’s issuer rating was raised to investment grade by Moody’s Investors Service, which cited significant military construction and other federal government support. Moody’s upgraded Guam’s issuer rating, general obligation bonds, hotel occupancy tax bonds, and business privilege tax bonds to Baa3 from Ba1 and raised the COPs to Ba1 from Ba2. The outlook is stable.
A Hamptons estate that once listed for $150 million before falling into bankruptcy was sold at auction Wednesday for $88.5 million. The four-acre estate in Southampton, New York, known as La Dune, was sold by Concierge Auctions at a starting bid of $66 million. The property was sold in two parts — one house sold
A “For Sale” sign stands outside a home following a snow fall in Geneseo, Illinois, U.S., on Monday, Jan. 20, 2020. The National Association Of Realtors is scheduled to release Existing Homes Sales figures on January 22. Photographer: Bloomberg | Bloomberg | Getty Images Severe winter weather is hindering home sales across the country, according
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. US gross domestic product grew at an annualised rate of 3.3 per cent during the final quarter of last year, capping off a stronger-than-anticipated 2023 for the world’s largest economy. While the fourth-quarter rate was
Municipals were little changed Wednesday amid another busy primary session as U.S. Treasury yields rose throughout most of the curve and equities ended up. Despite municipal performance being in the red to start to 2023, municipal mutual funds continue to see inflows. The Investment Company Institute Wednesday reported more inflows into municipal bond mutual funds
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The French government is pressing the UK to help plug a multibillion-pound hole in the budget of nuclear power projects being built in Britain by France’s electricity operator EDF. The call for a contribution from
Hawaii Gov. Josh Green highlighted $373 million of infrastructure and housing spending in his supplemental fiscal 2025 budget, calling it his administration’s top statewide priority during his State of the State speech. He also renewed a call for a climate change impact fee expected to collect $50 million that he said would have helped cover
SEC Chair Gary Gensler testifies during the House Financial Services Committee hearing titled “Oversight of the Securities and Exchange Commission,” in Rayburn Building on Wednesday, September 27, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images The Securities and Exchange Commission, lead by Chair Gary Gensler, is voting Wednesday on new rules to curb
An “Open House” flag is seen in front of a home for sale in Alhambra, California on January 18, 2024. Frederic J. Brown | AFP | Getty Images Mortgage rates rose slightly last week, but that did not seem to deter homebuyers who have come back after the holidays. Mortgage applications to purchase a home
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Financial Times had only nice things to say about Benito Mussolini in a June 1933 supplement entitled “The Renaissance of Italy: Fascism’s gift of order and progress”. Trains were running on time, investment was
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump will win the New Hampshire Republican primary, the Associated Press projected on Tuesday night, cementing his frontrunner status and raising questions about whether Nikki Haley would end her bid for the White House.
Municipals were weaker in spots amid an active primary market that saw a billion-dollar-plus retail order from the Regents of the University of California price and Washington sell just shy of $1 billion general obligation bonds in the competitive market. U.S. Treasury yields rose and equities were mixed near the close. The two-year muni-to-Treasury ratio
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Maskot | Digitalvision | Getty Images With high mortgage rates and home prices, would-be buyers are understandably looking for deals — even if they have to move to a different city, state or region to find them. Last year, consumers moving interstate tended to pick
An appeals court ruling against Puerto Rico Electric Power Authority bondholders may hold positives for them, analysts say. The United States Court of Appeals for the First Circuit panel of three judges on Monday rejected GoldenTree Asset Management and Syncora Guarantee’s motion to lift the bankruptcy’s stay, which would have allowed the bondholders to appoint
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Grace Cary | Moment | Getty Images The top 10 hottest housing markets are expected to be spread across the South, Northeast and Midwest this year, according to an analysis by real estate marketplace Zillow. But a “hot” market isn’t always great for would-be buyers.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government borrowed much less than expected in December, in a boost to chancellor Jeremy Hunt’s plans to cut taxes ahead of this year’s expected general election. Public sector borrowing fell to £7.8bn last
BEIJNG, CHINA – NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images) Vcg | Visual China Group | Getty Images Deflation may soon start biting into Chinese growth, as Beijing looks at another three to six months of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US and UK launched another round of joint air strikes against Houthi targets in Yemen on Monday, the second time that Britain has been directly involved in the military action targeting the Iran-backed rebel
A California plan to build a tunnel for freshwater to bypass the Sacramento–San Joaquin River Delta has run into a legal obstacle. A Sacramento County Superior Court judge has denied the California Department of Water Resources request to validate $16 billion in bonds to finance the Delta Conveyance Project. The Delta tunnel project would divert
Municipals were mixed Monday ahead of a heavy new-issue slate while U.S. Treasuries were better and equities saw smaller gains after last week’s record-breaking moves. Munis continue to struggle in 2024, with the asset class seeing negative returns of 1.01% so far this year. This is a turnaround “from the last quarter of 2023 in
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