Courtesy: Wojciechowski Family Real estate is a key puzzle piece in achieving the U.S.’ climate goals, according to federal officials. Residential and commercial buildings account for 31% of the nation’s greenhouse gas emissions, after accounting for “indirect” emissions like electricity use, according to the Environmental Protection Agency. That’s more than other economic sectors like transportation
Moody’s Ratings revised the outlook on New Mexico’s Aa2 rating to positive from stable, while downgrading ratings on certain state transportation and severance tax bonds in the wake of a methodology update review. The positive outlook, which affects $521 million of outstanding general obligation bonds, reflects Moody’s view “the state’s strong financial position, reflected in
A Chinese flag in Pudong’s Lujiazui Financial District in Shanghai, China, on Sept. 18, 2023. Raul Ariano | Bloomberg | Getty Images Chinese property stocks rallied on Tuesday after top financial regulators vowed a range of monetary easing measures to provide some relief for millions of families and boost a recovery in the real estate
Municipals were steady to start the week while the focus moved to the hefty primary slate as several deals priced bonds for retail to good demand. U.S. Treasuries were slightly weaker and equities closed the session in the black. The two-year muni-to-Treasury ratio Monday was at 64%, the three-year at 66%, the five-year at 66%,
The Federal Reserve slashed interest rates by a half percentage point, or 50 basis points, on Wednesday, its first rate cut since March 2020. Even before the Fed rate cut, some homeowners had already taken advantage of recent declines in mortgage rates to refinance. Refinance activity increased to 46.7% of total applications during the week
Enjoy complimentary access to top ideas and insights — selected by our editors. Career moves are still heating up even as the fourth quarter approaches, and the industry gets more settled following Citi’s exit from the municipal bond market and UBS’s exit from the negotiated underwriting business at the end of 2023. Chicago Transit Authority
In this article COST TTWO NFLX Follow your favorite stocksCREATE FREE ACCOUNT The word “Netflix” shines brightly at the presentation of the new season (3) of the Netflix series “Bridgerton” in the Flora. Rolf Vennenbernd | Picture Alliance | Getty Images As the earnings reporting season draws to a close, many companies were able to
Tampa, Florida’s sales and utility tax bonds were upgraded to Aa1 from Aa3 by Moody’s Ratings and the outlook is stable. The upgrade affects Series 2016 and 2020 sales tax refunding and improvement bonds and Series 2012A and C utilities tax and Series 2010A & B utility tax revenue bonds. “That’s great news, and it
Despite the pressure on U.S. Treasuries this week following the Federal Reserve’s 50 basis point rate cut, municipals closed out the week on track to post positive returns for the fourth consecutive month, the first time since 2021. Triple-A municipal yield curves were lightly traded and little changed while Treasuries saw small improvements for the
Federal Reserve Board Governor Michelle Bowman.Julia Nikhinson/Bloomberg The Federal Reserve cited slower price growth and a softer labor market in its decision to lower interest rates by a half percentage point this week, but one policymaker sees those trends differently. Fed Gov. Michelle Bowman voted against the decision Wednesday, noting that she would have preferred
The death knell isn’t ringing for the tax exemption on municipal bonds, according to a panel at the National Association of Bond Lawyers conference, at least not yet — although the panel suggested the industry remind lawmakers of the role bonds play in their communities. The exemption remains an issue as policymakers will need to
The House is expected to be working the weekend in order to bring a vote early next week on the continuing resolution, the funding package that is Congress’ best bet on keeping the government open after the fiscal year ends Sept. 30. Republican Speaker of the House Mike Johnson’s six month funding package failed on
The Gateway Development Commission expects to finalize its last grant for the Hudson Tunnel Project by the end of the month, according to its CFO, Pat McCoy. With the $3.8 billion grant from the Federal Railroad Administration, the project will have secured all of its funding, McCoy said at his fireside chat with the Municipal
Street scene in Old Bond Street, Mayfair, London, United Kingdom. Pawel Libera | The Image Bank | Getty Images LONDON — Monaco, Italy, Switzerland, Dubai. They’re just a few of the destinations trying to lure away the U.K.’s uber wealthy ahead of proposed changes to the country’s divisive non-dom tax regime. Almost two-thirds (63%) of
Municipals were steady to weaker in spots Thursday, as U.S. Treasury yields rose five years and out and equities rallied. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year at 66%, the five-year at 66%, the 10-year at 70% and the 30-year at 86%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read.
Sales of previously owned homes fell 2.5% in August from July, to a seasonally adjusted annualized rate of 3.86 million units, according to the National Association of Realtors. That is slightly lower than what analysts expected. Sales were 4.2% lower than August 2023. It marks three straight months of sales below the 4 million mark,
Moyo Studio | E+ | Getty Images The Federal Reserve announced a half percentage point, or 50 basis points, interest rate cut at the end of its two-day meeting Wednesday. And, naturally, some Americans will want to make the most of the central bank’s first rate cut since the early days of the Covid pandemic.
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
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
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