Municipals were little changed Monday as U.S. Treasuries were weaker and equities ended up. Volume this week is relatively light with the new-issue calendar estimated at $1.6 billion. There are only two deals over $100 million. The Bond Buyer 30-day visible supply sits at $4.03 billion. In the primary market Monday, Jefferies held a one-day
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Yuichiro Chino | Moment | Getty Images Like it or not, generative artificial intelligence has arrived on Wall Street — and experts expect it to transform the way firms do business. To be clear, artificial intelligence, like natural language processing and machine learning, has been used by wealth management and asset management firms for years.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Transport for London warned on Monday that it was facing a funding shortfall after securing just half of the £500mn grant it had asked for from central government to keep the capital’s transport network running
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Amid all the excitement about inflation falling and the cautiously optimistic COP28 deal, last week’s report from the OECD into international financial literacy levels unsurprisingly garnered few headlines. And yet for most people the humble
Singapore city skyline on September 18, 2016. Rustam Azmi | Getty Images News | Getty Images Asia’s family offices used to have a far bigger appetite for risks compared to their global counterparts — but that could be changing, according to a recent survey. A Citi Private Bank global survey in the third quarter of
At first the tunnel sloped gently downhill, and there was enough natural light to see the concrete-reinforced walls, dodge the tangle of electric cables and avoid the ventilation pipe hanging loosely from a wall. But only 30 metres inside, the shadows thickened, the air grew hot and clammy, and the tunnel began a sharp descent
In this article OMF DVN CVS Follow your favorite stocksCREATE FREE ACCOUNT A person walks by a CVS pharmacy store in Manhattan, New York, U.S., November 15, 2021. Andrew Kelly | Reuters Several dividend stocks had a rough year due to elevated interest rates. With the Federal Reserve signaling rate cuts in 2024, dividend stocks
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak, UK prime minister, has vowed to work with Italy’s Giorgia Meloni to review international rules on asylum, claiming that a wave of clandestine migration threatens to “overwhelm our countries”. Sunak was speaking at
In this article TRMB Follow your favorite stocksCREATE FREE ACCOUNT Visoot Uthairam | Moment | Getty Images Company: Trimble (TRMB) Trimble is a provider of technology solutions that enables professionals and field mobile workers to improve or transform their work processes. It operates through four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation.
Stay informed with free updates Simply sign up to the Style myFT Digest — delivered directly to your inbox. HTSI editor Jo Ellison © Marili Andre And so we have reached the final issue of HTSI 2023. First, a thank you. Every week we are encouraged by your amazing feedback: it’s an absolute pleasure to have
Municipals closed out the week firmer, boosted by Fed policy decisions and yearend positioning ahead of a fading new-issue calendar, while U.S. Treasuries traded in a narrow range all session and equities ended mixed. Triple-A yields fell up to five basis points Friday while USTs were mixed. Munis still underperformed taxables on the week, but
A proposed deal for a massive mixed-used arena project in Alexandria, Virginia, would be mostly financed through $1.05 billion in project revenue bonds issued by the newly named Virginia Stadium Authority. Details and hardening local opposition are emerging regarding the development of a 12-acre site in Potomac Yard, a former rail hub that straddles Arlington
A tough year for Wall Street municipal underwriting firms culminated Thursday with Citigroup’s announcement it would exit the business, a stunning move that market participants warned would raise state and city financing costs and that Citi would come to regret as headwinds calm and business rebounds. “It’s a major disappointment,” said Matt Fabian, a partner
S&P Global Ratings revised California’s rating outlook to stable from positive Friday, citing the state’s projected $68 billion multi-year deficit, revenue uncertainties and economic conditions. The state holds ratings of AA-minus from S&P, AA from Fitch Ratings and Aa2 from Moody’s Investors Service. The state also has a stable outlook from Fitch. Moody’s revised the
Connecticut is set to price $840 million of general obligation bonds next week, the state’s last issuance of a year with landmark fiscal policy decisions. The state, which renewed fiscal responsibility measures, lowered income taxes and maintained strong economic metrics, kept its solid ratings from all four agencies for the upcoming deal. “Management in Connecticut,
Noel Hendrickson/Getty Images After a year full of record-high interest rates and home prices, experts say there are signs of improvement for the housing market in 2024. In December, the average mortgage rates dropped below 7% for the first time since August and after an 8% peak in October, which pushed housing costs to the
My personal style signifier is colourful silk Nehru suits, which I’ve worn since I first visited India in 1982. My very first was made for me in the city of Vrindavan, near where Krishna came from. I always wear one of my big jewel brooches made from mirror and resin, and Bukharian kippah-style hats. To
Federal Reserve Bank of New York President John Williams said it’s too early for officials to begin thinking about cutting rates as soon as March as they consider whether policy is restrictive enough to get inflation back to 2%. “We aren’t really talking about rate cuts,” Williams said Friday in an interview on CNBC. He
The Spanish town of Marbella, on the country’s south coast, is popular among overseas buyers. Artur Debat | Moment | Getty Images There are three European countries that are “perennial favorites” for people to buy a vacation home, according to Kate Everett-Allen, a partner at real estate firm Knight Frank. France, Italy and Spain all
Stay informed with free updates Simply sign up to the Trade disputes myFT Digest — delivered directly to your inbox. The EU is set to extend its truce with the US over steel tariffs imposed by Donald Trump until after presidential elections next year. European trade commissioner Valdis Dombrovskis told the Financial Times he was
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