After outperforming the larger weakness in U.S. Treasuries over the past week, municipals played some catch up Friday seeing pressure across the curve ahead of holiday-shortened, but still heavy supply week. Triple-A yields rose two to five basis points while Treasuries were stronger 10-years and in, to close out a week of more mixed economic
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. David A. Grogen | CNBC Warren Buffett’s Berkshire Hathaway has reduced its stake in Bank of America to below 10% amid a selling spree that started in mid-July. In a Thursday night filing with the
Mobile homes surrounded by flood water after Hurricane Milton made landfall, in St. Petersburg, Florida, U.S. October 10, 2024. Octavio Jones | Reuters If your home is temporarily uninhabitable after a natural disaster, a provision in your homeowners or renters insurance policy may help you with new lodging and other living expenses. Insured wind and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. DP World has shelved an announcement of a £1bn cash injection into its main London port on the eve of the UK’s international investment summit, triggering a row between ministers over who was to blame.
Enjoy complimentary access to top ideas and insights — selected by our editors. Remembered for his positive and cheerful attitude and willingness to pitch in wherever needed, retired Bond Buyer reporter and municipal market fixture Harold “Chip” Walter George Barnett, Jr. died on Monday. He was 67. Barnett suffered from pulmonary fibrosis, “a disease related
Municipals were little changed Thursday as U.S. Treasuries were weaker out long and equities were off after a hotter-than-expected inflation report. The two-year muni-to-Treasury ratio Thursday was at 61%, the three-year at 61%, the five-year at 62%, the 10-year at 67% and the 30-year at 84%, according to Refinitiv Municipal Market Data’s 3 p.m. EST
A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. Patrick T. Fallon | AFP | Getty Images An abrupt turn higher for mortgage interest rates caused weekly demand from both potential homebuyers and current homeowners to drop. Total mortgage application volume fell 5.1% last
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rachel Reeves has been warned not to sharply ramp up government borrowing in a push for more public investment, as the chancellor considers a loosening of the fiscal rules in the October 30 Budget. Analysis
Chicago’s City Council deferred a vote on a $1.5 billion refunding bond measure. The deal, which includes a planned tender offer, drew opposition from some aldermen and Illinois Comptroller Susana Mendoza and triggered a credit recommendation from Municipal Market Analytics, which said on Tuesday that “this sale could be another signal that the city’s decade-long
The Puerto Rico Oversight Board and the bondholders opposed to the proposed plan of adjustment remain far apart, according to disclosures on the EMMA web site Tuesday night. U.S. District Court Judge Laura Taylor Swain earlier this week extended the bankruptcy stay and set a Dec. 11 omnibus hearing to hear the opposing bond parties’
Visoot Uthairam | Moment | Getty Images Home repairs and renovations are expensive. To lower costs, 1 in 3 homeowners are willing to hire a contractor with holes in their resume. About 33% of surveyed homeowners say they’d consider hiring a contractor with a questionable reputation to save money, according to a new report by
Fitch Ratings and Moody’s Ratings downgraded Xavier University, a private Jesuit college in Cincinnati, to A-minus from A and to Baa1 from A3, respectively, last week. Fitch pointed to the school’s decision to take on more debt to finance the construction of a new College of Osteopathic Medicine at a time when operating performance has
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Municipals were weaker Tuesday with the largest losses out long while U.S. Treasuries saw narrow gains on the day and equities ended up. Triple-A yields rose by up to five basis points, depending on the scale, while USTs saw yields flat or lower by a basis point or two. The two-year muni-to-Treasury ratio Tuesday was
Molten copper pours into ceramic molds to form plates at the Southern Copper Corp. smelter facility in Ilo, Peru, on Jan. 30, 2017. Dado Galdieri | Bloomberg | Getty Images After years of political unrest in Peru, the relative calm of recent months has made international investors increasing their appetite for the country’s sovereign bonds.
David Hester inspects damages of his house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. Chandan Khanna | Afp | Getty Images It’s crucial to understand how to file a homeowners insurance claim after a natural disaster. Insured losses alone for Hurricane Helene are now estimated at more than $6
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Israeli military deployed thousands more troops in Lebanon and signalled an expanded ground offensive against Hizbollah, even as the militant group launched one of the largest rocket barrages into northern Israel since the conflict
The University of Arizona heads to the municipal bond market this week with its first bond issue since financial troubles led to negative rating outlooks from Moody’s Ratings and S&P Global Ratings. The $115.645 million of Stimulus Plan for Economic and Educational Development, or SPEED, revenue bonds issued through the Arizona Board of Regents will
If vice-president Kamala Harris defeats Donald Trump in November, most of America’s allies will greet her victory with thinly veiled delight. “If she wins,” says an official from one of its long-standing Asian partners, “we will have a national holiday!” The official was barely joking, such are the worries in many capitals over the presumed
Texas Capital is expanding its public finance team with the addition of five industry professionals, the Dallas-based financial services firm announced Friday. The public finance business was launched in May with the hiring of Steve Genyk, a former public finance head at UBS, as a managing director. The move came as the ranks of underwriters
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