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
Your browser does not support playing this file but you can still download the MP3 file to play locally. A growing controversy around Lord Waheed Alli’s donations to Prime Minister Sir Keir Starmer and his wife Victoria risks tarnishing the new government, while propelling the normally discreet Labour donor into the public eye. Lucy Fisher
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
Stay informed with free updates Simply sign up to the Investments myFT Digest — delivered directly to your inbox. Well that makes my katzenjammer even worse. On top of a cold, as well as a hangover from trying to match dad — who just landed from Australia — on the shiraz front, my portfolio now
A larger than expected federal funds rate cut on Wednesday caught a lot of market experts off guard. “I was surprised by the size of the cut,” said Vikram Rai, head of municipal markets strategy for Wells Fargo. ”I was expecting 25 basis points, but you can rationalize 25 or 50. Muni investors have waited for this,
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.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of England has held interest rates at 5 per cent after inflation remained steady in August, but indicated it may lower borrowing costs again as soon as November. The Monetary Policy Committee’s eight-to-one
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
On Tuesday, former President Trump announced support for lifting the cap on the State and Local Tax deduction, a move which has wide support from municipal bond issuers. Trump made the announcement via his Truth Social network as part of a personal post saying, “I will turn it around, get SALT back, lower your taxes,
Chris Wattie | Reuters The Federal Reserve announced Wednesday it will lower its benchmark rate bya half percentage point, or 50 basis points, paving the way for relief from the high borrowing costs that have hit consumers particularly hard. The federal funds rate, which is set by the U.S. central bank, is the interest rate
Traders work on the floor of the New York Stock Exchange during afternoon trading on September 05, 2024 in New York City. Michael M. Santiago | Getty Images Investors may soon see their favorite stocks quoted in half-penny increments. The U.S. Securities and Exchange Commission will vote Wednesday to change the minimum pricing increment for
close video FOX Business Flash top headlines for September 17 Check out what’s clicking on FoxBusiness.com. Tupperware Brands Corporation has filed for bankruptcy, just months after the iconic American food storage container maker shuttered its last remaining plant in the U.S. amid financial woes. The company formally announced its voluntary decision to initiate Chapter 11
close video SpaceX Polaris Dawn conducts first private spacewalk with billionaire Jared Isaacman Jared Isaacman, CEO of Shift4 integrated payment processing solutions, participated in the first ever private spacewalk on Thursday, Sept. 12, 2024. (Credit: @SpaceX via X) The decision last year by the Federal Communications Commission (FCC) to reaffirm its revocation of an award
close video James Bullard: I’m expecting a 25 basis point cut at the Sept. meeting Former St. Louis Federal Reserve CEO James Bullard unpacks rate cuts and the labor market on ‘The Claman Countdown.’ Wall Street and Main Street are hoping to usher in the fall season with the first interest rate cut since March
hit the bricks — Apple pauses iPadOS 18 rollout for M4 iPad Pro after bricking complaints Apple’s servers have stopped signing the 18.0 update for M4 iPad Pros for now. Andrew Cunningham – Updated Sep 17, 2024 11:35 pm UTC Enlarge / iPads running iPadOS 18.Apple reader comments 49 Apple has temporarily paused the rollout
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