As extreme weather becomes more common and the federal deficit hits new records, the onus will be on state and local governments to finance the future of resilient infrastructure. The good news is they have plenty of capacity to take on the debt and retail investors are clamoring for the paper. That’s the view of
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The Empire State Development Corp. is set to sell $335.7 million of state sales tax revenue bonds on Thursday. The competitive deal is the only sizable offering from a New York state issuer on this week’s calendar, a contrast to the billion-dollar deals the state’s issuers have sold in recent months. It was a week
Andresr | E+ | Getty Images The Federal Reserve is poised to make its first interest rate cut in years on Wednesday. But homeowners shouldn’t bet on the move as an opportunity to immediately refinance their mortgage. That’s because “a lot of these rate cuts are already priced in,” Chen Zhao, the economic research lead
Chris Wattie | Reuters The Federal Reserve announced Wednesday it will lower its benchmark rate bya half percentage point, or 50 basis points, paving the way for relief from the high borrowing costs that have hit consumers particularly hard. The federal funds rate, which is set by the U.S. central bank, is the interest rate
The Financial Industry Regulatory Authority has fined Pershing, a subsidiary of the Bank of New York, $42,000 for failing to include the non-transaction-based compensation indicator on 23,000 municipal securities transactions, violating Municipal Securities Rulemaking Board Rules G-14 on customer transaction reporting and G-27 on supervision. Pershing also violated FINRA Rules 6730, 3110 and 2010, consented
Steven Cohen, Chairman and CEO of Point72 Asset Management and majority owner of the New York Mets, attends a news conference at Citi Field, the home stadium of MLB’s New York Mets, which is being used for coronavirus disease (COVID-19) vaccination site, in Queens, New York, February 10, 2021. Brendan McDermid | Reuters Billionaire investor
Traders work on the floor of the New York Stock Exchange during afternoon trading on September 05, 2024 in New York City. Michael M. Santiago | Getty Images Investors may soon see their favorite stocks quoted in half-penny increments. The U.S. Securities and Exchange Commission will vote Wednesday to change the minimum pricing increment for
A home with a “Sold” sign from a real estate company in North Patchogue, New York. Steve Pfost | Newsday | Getty Images Mortgage rates came down again last week, and with the expectation that they could fall further, mortgage demand suddenly jumped, especially for refinancing. The Federal Reserve is expected to make its first
Municipals were steady to slightly firmer in spots with several large new-issues pricing in the primary as U.S. Treasury yields fell and equities were mixed as market participants await the FOMC rate decision Wednesday. “It’s all but a sure thing that the Fed will cut this week, but by how much is still up for
In this article BLCO-CA BHC-CA Follow your favorite stocksCREATE FREE ACCOUNT CHICAGO, ILLINOIS – MAY 05: Bausch + Lomb eye vitamins are offered for sale at a drug store on May 05, 2022 in Chicago, Illinois. Bausch + Lomb parent company Bausch Health is spinning off the eye-care company with an upcoming IPO which will
Utah voters will weigh a constitutional change in the Nov. 5 election that would provide more flexibility for the state budget through the use of revenue that has been allocated solely for specific funding purposes with K-12 public schools being the biggest beneficiaries. Currently constitutionally earmarked personal income, corporate franchise, and intangible property tax revenue
Shu Matsuo Post, 38, built a $2 million real estate portfolio, according to documents seen by CNBC Make It. Courtesy of Shu Matsuo Post The idea of financial independence can mean different things to different people, but one common way to define it is having enough money that you no longer need to rely on
The authority that runs Guam’s lone commercial airport is pricing a $62.4 million Baa2-rated deal that will fund a tender offer of some of its outstanding taxable bonds Tuesday. The Antonio B. Won Pat International Airport Authority is the issuer. Barclays is the underwriter and Montague DeRose and Associates is the municipal advisor. Guam’s airport
With a 25-basis-point cut in the federal funds rate widely expected at the Federal Open Market Committee meeting Tuesday and Wednesday, economists are pondering what happens after that while they eagerly await the release of the Summary of Economic Projections. Although some have kept a chance of a larger cut in play. “Bond markets have
In this article MCD CHRD MPLXP Follow your favorite stocksCREATE FREE ACCOUNT A McDonald’s fast-food restaurant in Manhattan, New York, on July 6, 2024. Beata Zawrzel | Nurphoto | Getty Images September had a bumpy start for investors as volatility jolted markets in the first week, but dividend-paying stocks can help smooth the ride. Investors
In this article IMXI Follow your favorite stocksCREATE FREE ACCOUNT Oscar Wong | Moment | Getty Images Company: International Money Express (IMXI) Business: International Money Express is an omnichannel money remittance services company. IMXI offers money transfer services digitally through a network of agent retailers in the United States, Canada, Spain, Italy and Germany. It
Municipals were lightly traded and little changed Friday ahead of a much smaller calendar and the Federal Open Market Committee meeting during which the first rate cut in four years is expected. U.S. Treasuries and equities closed out a volatile week in the black. Triple-A muni yields barely budged across the yield curve while USTs
After just 20 months on the job, Federal Highway Administration head Shailen Bhatt has departed for the private sector. Bhatt announced Thursday that he’s taken a position at Montreal-based engineering services firm AtkinsRéalis. He joins as senior vice president and chief operating officer for the U.S., Latin America and Minerals & Metals. Current FHWA Deputy
MISSOULA, Mont. — In a subdivision near the northern edge of town, a number of condos and duplexes have popped up in the past three years. It’s part of a larger effort, including new zoning laws, to help provide affordable housing to Montanans who have found themselves priced out of the market, said DJ Smith,
The NAFOA, founded as the Native American Finance Officers Association, announced that Cory M. Blankenship will take over the helm as the organization pushes the Tribal Tax & Investment Reform Act, which would free up tribal bond issuance. “NAFOA has been working with Congresswoman Gwen Moore D-Wisc. and Congressman David Schweikert’s R-Ariz. offices to help
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