Municipals were firmer in secondary trading as the primary market took focus, led by the accelerated pricing of $1.8 billion general obligation bonds from Illinois. U.S. Treasury yields fell out long and equities ended mixed. The two-year muni-to-Treasury ratio Tuesday was at 64%, the three-year at 63%, the five-year at 61%, the 10-year at 60%
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Stanley Druckenmiller, Duquesne Family Office, at CNBC’s Delivering Alpha, Sept. 28, 2022. Scott Mlyn | CNBC Billionaire investor Stanley Druckenmiller revealed Tuesday that he has slashed his big bet in chipmaker Nvidia earlier this year, saying the swift artificial intelligence boom could be overdone in the short run. “We did cut that and a lot of
In this article TREE Follow your favorite stocksCREATE FREE ACCOUNT monkeybusinessimages | Getty Most U.S. homebuyers taking out a mortgage opt for a 30-year fixed-rate — but they may not realize how unusual that offering is. “The 30-year fixed-rate mortgage is a uniquely American construct,” said Greg McBride, chief financial analyst for Bankrate. True to
It was hours since thousands of Palestinians had poured on to the streets of the Gazan city of Rafah, weeping and hugging as they began to believe Hamas’s acceptance of a ceasefire deal had spared them an Israeli ground offensive. But by Tuesday morning many sheltering in Rafah were on the move again, carrying sacks
Broker-dealer firms are stepping up in the primary market to fill the gap left by Citi’s dramatic exit from the municipal bond business last December, but a test of how secondary market liquidity stands up to the firm’s departure remains to be seen. That’s according to broker-dealer and financial advisor panelists speaking Monday at the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel has carried out night air strikes on Rafah and said a ceasefire proposal accepted by Hamas fell “far from Israel’s necessary requirement”, as international mediators and officials struggled to continue talks to halt fighting
Municipals improved Monday in constructive secondary trading as investors await the larger new-issue slate. U.S. Treasuries were mixed while equities made gains. Triple-A curves saw yields fall two to three basis points while USTs were a touch weaker on the short end and a bit firmer out long. The two-year muni-to-Treasury ratio Monday was at
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC OMAHA, Neb. — Warren Buffett revealed that he dumped Berkshire Hathaway’s entire Paramount stake at a loss. “I was 100% responsible for the Paramount decision,” Buffett said at Berkshire’s annual shareholder meeting. “It was 100% my decision,
Warren Buffett poses with Martin, the Geico gecko, ahead of the Berkshire Hathaway Annual Shareholder’s Meeting in Omaha, Nebraska on May 3rd, 2024. David A. Grogan | CNBC Berkshire Hathaway shares rose in premarket trading Monday after Warren Buffett’s conglomerate reported a surge in operating earnings as well as a record cash hoard. Berkshire’s Class A shares
A sign advertising a home for sale is displayed outside of a Manhattan building on April 11, 2024 in New York City. Spencer Platt | Getty Images The dream of home ownership has gotten even further away for renters, with higher housing costs and elevated interest rates standing in the way of the American housing
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The judge overseeing Donald Trump’s Manhattan “hush money” trial threatened to jail the former president if he continued to harass witnesses and jurors, after concluding that fines had failed to deter the defendant from repeatedly
Illinois will issue $1.8 billion of general obligation bonds — $250 million taxable Series 2024A and $1.55 billion tax-exempt Series 2024B — to fund accelerated pension benefit payments and capital expenditures through the Rebuild Illinois program. The fixed-rate bonds are expected to price this week. Jefferies, Siebert Williams Shank and Barclays are joint senior managers
A US crackdown on banks financing trade in goods for Vladimir Putin’s invasion of Ukraine has made it much more difficult to move money in and out of Russia, according to senior western officials and Russian financiers. Moscow’s trade volumes with key partners such as Turkey and China have slumped in the first quarter of
As Florida’s Brightline passenger train floated its first investment-grade and insured bonds in a high-profile transaction last week, a key part of the deal for insurer Assured Guaranty was the control it would have if the issuer runs into debt payment trouble. Assured wraps $1.13 billion, or 51%, of the $2.219 billion of senior bonds
In this article KO ET CHRD Follow your favorite stocksCREATE FREE ACCOUNT Coca-Cola beverages are offered for sale April 30, 2024 in Chicago, Illinois. Scott Olson | Getty Images As macro uncertainty hangs over the stock market, investors are searching for sources of income, which can help cushion their portfolios in volatile times. Those who
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Vitapix | E+ | Getty Images People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ended April 25, according to Freddie Mac data via the Federal
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak was told by Conservative MPs on Sunday to show some vision and start digging his party out of the “hole” it was in after a disastrous set of local election results. Although Tory
The Puerto Rico Oversight Board warned the government it will sue to stop a recently passed law that would reduce Puerto Rico Electric Power Authority revenues for the next 26 years by preventing a change in the net metering policy. In a letter to Puerto Rico Gov. Pedro Pierluisi, Senate President José Dalmau Santiago, and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak was facing renewed Conservative unrest on Saturday night after his party suffered crushing defeats in a series of mayoral contests including London, and Labour claimed victory in its flagship West Midlands. Some Tory
Hawaii Gov. Josh Green failed to convince lawmakers to consider legislation that would have allowed struggling Hawaii Electric Co. to issue bonds backed by a rate increase. Senate Bill 2922, introduced by Senate Commerce and Consumer Protection Chair Jarrett Keohokalole, would have allowed HECO to issue up to $2.5 billion in low-interest bonds, if it
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