Municipals were weaker Thursday amid another busy new-issue day while municipal bond mutual funds reported inflows. U.S. Treasuries yields rose and equities were up near the close. Muni yields rose up to eight basis points, depending on the scale, while UST yields rose up to six basis points at 30 years. The two-year muni-to-Treasury ratio
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Poland’s highest court on Thursday ruled Prime Minister Donald Tusk’s overhaul of state media was unconstitutional, the latest pushback against the pro-EU leader’s sweeping attempt to reshape public institutions. The constitutional court ruled in a
A proposed bond-financed crude oil-transporting railway project in Utah lost a federal right-of-way permit in the wake of a 2023 court ruling. The U.S. Forest Service announced Wednesday it withdrew a 2022 permit allowing the Uinta Basin Railway’s construction and operation on about 12 miles of land in the Ashley National Forest. The federal agency
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Intel has been handed a lifeline in its fight to avoid a €1bn fine from the European Commission after an adviser to Europe’s top court found fault in the case made by antitrust regulators. Laila
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK lenders’ expectations for mortgage demand rose sharply at the end of last year, according to official data published on Thursday, as falling borrowing rates fuel a rebound in the property sector. The index for
Towards the end of last year, Japanese prime minister Fumio Kishida gave a speech to business leaders in New York announcing new measures to attract asset management companies to the country. The initiative includes the formation of special business zones in which administrative procedures can be completed entirely in English and a commitment to an
Municipals faced rising yields in the secondary market Wednesday while large new-issues priced in the primary market. U.S. Treasuries were weaker again, and equities saw more losses. The Investment Company Institute Wednesday reported large inflows into municipal bond mutual funds for the week ending Jan. 10, with investors adding $2.066 billion to funds following $77
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Northern Ireland’s largest unionist party foiled a fresh attempt on Wednesday to recall the Stormont assembly and restore the power-sharing executive on the eve of a historic strike over public sector pay set to paralyse
A home is constructed at a housing development on June 21, 2023 in Lemont, Illinois. Scott Olson | Getty Images Homebuilder sentiment improved in January, jumping 7 points to 44 on the National Association of Home Builders monthly index. Anything below 50 is still considered negative, but the index has now moved 10 points higher
Prospective home buyers visit a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. The pressures come as President Joe
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. At the age of 90, I am about to receive a large compensation payment. I intend to give it all to several charities. How should I go about receiving and making payments to avoid possible
The Federal Reserve should be able to “methodically and carefully” lower its interest rate target this year, if inflation continues to moderate, Federal Reserve Gov. Christopher Waller said Tuesday. “When the time is right to begin lowering rates, I believe it can and should be lowered methodically and carefully,” Waller said in a Brookings event.
Munis were slightly weaker to start the holiday-shortened ahead of several large new issues, but the asset class outperformed U.S. Treasuries on the day. Equities saw losses. Muni yields were cut up to four basis points, depending on the scale, while UST yields rose eight to 11 basis points. Munis have “struggled to get out
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A ship heading for the Suez Canal was hit by a missile on Tuesday, marking the second successive day that a vessel in the waters off Yemen has suffered damage despite bombing raids by the
Former U.S. President Donald Trump arrives to speak to the press after attending the civil fraud trial against the Trump Organization in New York State Supreme Court, in New York City on Jan. 11, 2024. John Lamparski | AFP | Getty Images The top court in New York State on Tuesday rejected an appeal by
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 9, 2024. Brendan Mcdermid | Reuters The crystal ball is cloudy this year my friends. In the past it was easier to come up with my annual list of predictions, even if it turns out I was wrong. Heading
Dubai’s property boom in the years following the Covid-19 pandemic has been one of the fastest in the world, fueled by investor-friendly reforms and a surge in expat demand, particularly from Russia in the wake of the start of Moscow’s full-scale war with Ukraine. Some of Dubai’s luxury developments cater specifically to Russian buyers, with
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. This article is an on-site version of our Europe Express newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday and Saturday morning Good morning from Davos. It is
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak will this week confront Conservative rightwingers who want to toughen up his Rwanda asylum bill, as a new “mega poll” suggested his party could be heading for a 1997-style election wipeout. The prime
Fg Trade | E+ | Getty Images Rising inventory is helping push rent prices down. For young adults, building credit is a smart step to take as they prepare to enter the rental housing market. The median U.S. asking rent price in December was $1,964, a 0.8% decline from a year ago, according to real
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