Municipals were hit hard across the curve Friday, with the most damage felt on the short end. Triple-A benchmarks outperformed a U.S. Treasury rout on the heels of a hotter-than-expected jobs report. Triple-A benchmarks were cut six to 15 basis points at the one-year, with smaller cuts across the curve. U.S. Treasury yields rose eight
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The developers of the American Dream mall in East Rutherford, New Jersey, have missed another scheduled debt service payment on the bonds issued to bankroll its construction. Triple Five, owner and developer of American Dream, missed a payment due on $287 million of limited obligation grant revenue bonds issued through the Public Finance Authority in
The triple-A Texas program that guarantees public school bonds is quickly using up its already limited capacity, ending December with only a projected $26.65 million available. Amid a slew of school debt approved by voters last year, the Permanent School Fund program has experienced high demand that shrank its projected available capacity from $3.97 billion
In September 2022, Interchain Foundation, the team behind Cosmos’ development , introduced the Cosmos ATOM 2.0 whitepaper. The document proposed significant changes to Cosmos’s design, including a tokenomics upgrade to fund the Cosmos ecosystem development and reduce ATOM inflation. While the whitepaper launch acted as a bullish catalyst for ATOM price, the community vote to
Environmental, social, and governance-related disclosure benefits municipal issuers, according to a panel of municipal professionals. Risks issuers face currently weren’t a consideration 50 years ago, noted Richard Freund, associate director at CDP North America, at a session at The Bond Buyer’s National Outlook Conference Thursday. Risk is risk and impact is impact, said Freund. Issuers
As interest rates continue to rise, the draw of pension obligation bonds appears to be falling fast. A financial instrument that has appealed to many municipalities to remedy underfunded pension plans is once again looking like a losing borrow and bet scheme. “Typically, the biggest risk with POBs is market timing risk,” said Todd Kanaster,
Following a request from FTX lawyers to subpoena FTX co-founder Sam Bankman-Fried (SBF) and members of his family, the U.S. Trustee appointed by the Department of Justice has filed an opposition to the request. The U.S. Trustee explained that the motion would duplicate the efforts of the federally appointed independent examiner. U.S. Trustee Argues for
A few days before I am to meet one of the world’s sporting gods, his latest impromptu homily lights up his homeland’s social media feeds. Introducing himself as “a dad and a husband”, he touches on the power cuts and the unemployment blighting his country before closing with a call for sport to give people
China’s real estate market has slumped in the last two years after Beijing cracked down on developers’ high reliance on debt for growth. Future Publishing | Future Publishing | Getty Images BEIJING — China needs to do more in order to fix its real estate problems, the International Monetary Fund said Friday. The property market
In today’s episode of let’s talk stocks, we are going to talk about stock market mentors and coaching. Some of the points we are going to cover in this video are: My Thailand trip, what is a mentor and how they help, but most importantly, do you really need one? #stockmarket #stockcoaching #stockmentor #tradermindset #mentoring
In this video, Peter takes a look at how you can buy and sell more than 1800 real stocks and ETFs free of charge and at the best possible price with Trading 212 Invest & ISA, while at the same time getting instant and uncompromising execution. He also explores how Trading 212’s investment offering differs
The writer is head of emerging markets economics at Citi Are all Chinese economic recoveries, like Tolstoy’s happy families, alike? Many observers these days seem to think so. The recent boom in metals prices, for example, reflects a confidence in the market that this year’s acceleration in China’s growth rate will cast the same benign
Technical fabrics and athleisure might dominate everyday wardrobes, but the ancient art of tapestry — or at least the appearance — is providing a foil to utilitarianism. At the Paris shows in September, tapestry effects appeared on floral suits in the spring collections of Paco Rabanne and Dries Van Noten, and on baseball shirts at
I appreciated Patrick McGee’s series on Apple’s exposure to its Chinese integrated supply chain (The Big Read, January 19) However, I’ve noticed that the media’s risk analysis for Apple, and similar companies, seems to focus on potential future trade and manufacturing embargoes instigated from the US. This is a rather lopsided view which takes for
Buyers are entering a calmer housing market, but with little incentive for homeowners with sub 3% mortgage rates to sell and 50 of the 100 largest markets expected to see inventory declines, they will continue to have a limited number of homes from which to choose. Shoppers with some flexibility in terms of when and
Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the
Municipals were firmer Thursday as municipal bond mutual fund outflows returned, while U.S. Treasuries were steady and equities ended mixed. The three-year muni-UST ratio was at 55%, the five-year at 57%, the 10-year at 63% and the 30-year at 88%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the three at
The memecoin phenomenon didn’t prove as effective in the last month’s start of year crypto market rally, as the gains of the top cryptocurrencies in this category barely outperformed Bitcoin. The monthly gain of BTC stood at 44.5%, while the top two meme-based coins DOGE and SHIB gained 27% and 40.7%, respectively. Doge needs a
A pair of New Jersey lawmakers have introduced a bipartisan House bill to lift the cap on state and local tax deductions. HR 680, introduced Jan. 31 by Democratic Rep. Mikie Sherrill and Republican Rep. Mike Lawler, would lift the $10,000 cap to $100,000 for individuals and $200,00 for married taxpayers, significantly lifting the current
Spotify has a podcast problem. At the height of the boom in podcasts, it appeared the company had found a big shiny object to dazzle Wall Street with. In 2019, founder Daniel Ek declared that audio — not just music — was the future of his company with podcasts central to the strategy. Podcasting had