Municipals were weaker Monday, rising in sympathy with U.S. Treasuries. Equities rallied. Triple-A benchmarks were cut up three to eight basis points, depending on the scale, while UST yields were up four to nine near the close. The two-year muni-to-Treasury ratio Monday was at 70%, the three-year was at 70%, the five-year at 71%, the
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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. Hospitals in Gaza are likely to run out of fuel within 24 hours, putting the lives of thousands of patients at “immediate risk”, the UN warned as Israel lays siege to the enclave in response
“We’re contorting ourselves to pass through the keyhole of tyranny.” Edward Snowden’s words to the audience at the packed Genesis Stage hall at Bitcoin Amsterdam stressed the preeminent cryptocurrency’s ever-increasing importance in a world beset by creeping government surveillance, devaluing fiat currencies and restrictive policies. The renowned whistleblower’s address summed up a recurring theme during
New York state tax collections from mobile sports betting totaled $727.4 million in fiscal 2022-2023, according to a report from the state comptroller’s office. “Gaming has significantly expanded in the state in the last several years,” Comptroller Thomas DiNapoli said Wednesday. “With the ease and 24/7 availability of mobile betting apps, problem gambling and addiction
The Ethereum DApps ecosystem is thriving, and the potential for decentralized applications (DApps) is immense. Who wouldn’t want to participate? Developers can now build applications with their own native coins or nonfungible tokens (NFTs) on secure blockchain networks to serve any purpose — from financial and industrial use cases to social media sites and, of
The list of most expensive homes for sale in the world is ever-changing. In February, the Robb Report said a penthouse atop New York City’s Central Park Tower, priced at USD 250 million, topped the offerings. The next month numerous publications put the Holme, a palatial 40-bedroom waterfront residence in London, ahead of that at
Cities and states should “keep calm and issue bonds” despite sticker shock from rising interest rates and a volatile municipal bond market. That was the message from panelists speaking Thursday at the Government Finance Officers Association’s annual MiniMuni event, a three-day online event for issuers. The rise in rates “makes our jobs as debt managers
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US is sending a second aircraft carrier strike group to the eastern Mediterranean in a bid to ease tensions in the region as Israel prepares a ground offensive against Hamas militants in the Gaza
The price of Ethereum’s native token, Ether (ETH), is trading around a 15-month low versus Bitcoin (BTC), and the lowest since Ethereum switched to proof-of-stake (PoS). Will it continue to weaken for the remainder of 2023? Let’s take a closer look at the charts. Ethereum price breaks below critical support vs. Bitcoin The ETH/BTC pair dropped
A trending move in an asset class attracts traders, while a dull price action drives investors to the sidelines. Bitcoin (BTC) has largely been stuck in a range for the past several months, which could be one of the reasons for the drop in spot volumes. Bloomberg reported on Oct. 11 that Coinbase’s spot trading
The U.S. Virgin Islands government is concerned that more than $10 billion of a possible $15 billion in federal hurricane reconstruction aid may be in jeopardy, with possible impacts on the islands’ economy. The islands’ government and Water and Power Authority have more than $2 billion in bonds outstanding. Fitch Ratings rates the WAPA bonds
In this article COST MU INTC META AMZN Follow your favorite stocksCREATE FREE ACCOUNT An Amazon delivery truck at the Amazon facility in Poway, California, Nov. 16, 2022. Sandy Huffaker | Reuters Investors are confronting several headwinds, including macro uncertainty, a spike in energy prices and the unanticipated crisis in the Middle East. Investors seeking
In this article DIS ZS XOM SPOT OWL Follow your favorite stocksCREATE FREE ACCOUNT An Exxon gas station sign in the Brooklyn borough of New York City, Oct. 6, 2023. Michael M. Santiago | Getty Images Check out the companies making headlines before the bell: Walt Disney — Shares of the media giant rose more
Top Stories This Week Caroline Ellison wanted to step down but feared a bank run on FTX Caroline Ellison, former CEO of Alameda Research, testified for over 10 hours this week at Sam Bankman-Fried’s trial, offering deeper details on the events that anticipated the FTX debacle in November 2022. From Ellison’s testimony, jurors learned that
The white, sandy beaches that decorate the coast of Florida are certainly no secret. In Miami Beach alone—with a full-time population of about 80,000—just under 11 million visitors stay overnight in the small beach town every year. A similar story can be seen across many coastal towns across the Sunshine State. However, with an incredible
New homes under construction in Miami, Florida, Sept. 22, 2023. Joe Raedle | Getty Images Top real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging housing costs and a “historic shortage” of available homes for sale. In a letter Monday addressed to
The last time the triple-A 30-year muni was consistently over 4%, Barack Obama was president, lawmakers were squabbling over whether to raise the debt ceiling, cut spending and keep the federal government open, which eventually resulted in a downgrade of the United State’s triple-A rating by S&P Global Ratings. While there is a different administration,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tens of thousands of Palestinians fled northern Gaza for a second day ahead of an evacuation deadline, as Israel extended an aerial bombardment and carried out limited raids into the enclave to search for hostages
Ferrari will accept cryptocurrency payments for its luxury sports cars in the United States due to customer demand. The carmaker also plans to accept crypto payments in Europe. According to an Oct. 14 report from Reuters, Ferrari’s chief marketing and commercial officer, Enrico Galliera, confirmed the intentions of the luxury car brand. Ferrari’s choice to
Connecticut, Rhode Island and Massachusetts have agreed to work together to develop offshore wind energy in a joint venture officials say will offset rising costs that threaten the burgeoning industry’s potential. The multi-state coalition will be the first of its kind, Massachusetts Gov. Maura Healey said in a joint statement with Rhode Island Gov. Dan
The USS Truxtun (DDG-103) destroyer sits in dry dock at the General Dynamics Corp. NASSCO shipyard facility on the Elizabeth River in Norfolk, Virginia, on Jan. 9, 2018. Luke Sharrett | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Spotify — Shares of the music streaming service company fell 2.5%