Citigroup will close its municipal division by the end of the first quarter of 2024, leaving behind a historic tenure in a market it once dominated in both underwriting and secondary market-making. The firm decided to “wind down our municipal underwriting and market-making activities” after a “broad-based review” of its muni business, according to a
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Municipals rallied hard Thursday, playing catch up to the moves in U.S. Treasuries, which extended their gains for a second session following the Federal Open Market Committee’s clear communication of future rate cuts in 2024. Equities continued their rally. Triple-A yields fell 13 to 17 basis points, depending on the curve, but the gains were
Loading… Loading… Moodys Corporation, the ratings agency and research firm, has become the first financial services company to leverage the power of Generative AI (GenAI) to launch a customer research platform that it says will save users hours every day. The company announced on Tuesday the launch of Moodys Research Assistant, a first-of-its-kind search and
Loading… Loading… The Wikimedia Foundation disclosed that in 2023, ChatGPT was the most viewed article on Wikipedia, attracting 79 million views across its various language editions. What Happened:In 2023, the English language version of Wikipedia amassed over 84 billion views. Of these, the ChatGPT article alone accounted for more than 49 million views. During the
Loading… Loading… Investors are always on the lookout for untapped opportunities, especially in stocks that have been heavily discounted and now present promising opportunities for those prepared to wager on a recovery. As the new year looms, a seasoned strategy, known as the Laggards trade, is witnessing a revival. In its recent analysis, Goldman Sachs
Loading… Loading… The momentum on Wall Street during Tuesdays session continues to lack strength as investors carefully scrutinize the most recent economic data. Moodys decision to lower Chinas credit rating outlook from stable to negative also weighed on risk propensity. While service activity showed a better-than-expected uptick in November, Octobers job openings fell substantially, marking
Loading… Loading… Socit Gnrale SCGLY is launching a stablecoin. What Happened The French bank will be the first major financial institution to offer digital assets tracking the price of fiat currencies to investors. Socit Gnralesaid that EUR CoinVertible would be fully backed by euros. The crypto ecosystem is highly concentrated on a few existing stablecoins,
Loading… Loading… In a compelling panel discussion at Benzingas Fintech Deal Day event held in New York this November, industry experts gathered to delve into the complexities of managing market volatility and strategizing effective risk management. The panel, moderated by Renato Leonard Capelj from Benzinga, featured insights from Michael Green of Simplify Asset Management, Kris
KTSDesign | Science Photo Library | Getty Images It’s arguably the biggest stock story of 2023: a small number of giant technology companies now make up a very large part of big indexes like the S&P 500 and the Nasdaq-100. Five companies (Apple, Microsoft, Amazon, Nvidia, and Alphabet) make up about 25% of the S&P 500. Six
The latest GOP presidential debate demonstrated again that Ron DeSantis and Nikki Haley are pursuing utterly inimical strategies for catching the front-runner, Donald Trump. The debate, on Wednesday evening, also showed why neither approach looks remotely sufficient to dislodge Trump from his commanding position in the race. DeSantis delivered a stronger overall debate performance than
Pregnancies among incarcerated women are more common than some may initially believe, with around 58,000 pregnant women admitted to prisons and jails in the United States every year. Data about incarcerated pregnant women can help reveal what they experience during pregnancy and postpartum recovery, as well as the impact their circumstances may have on their
Loading… Loading… Driven by high demand, Japan witnessed its biggest digital corporate bond issuance. What Happened: Hitachi HTHIY issued the five-year green bonds with a coupon rate of 0.598%, Bloomberg reported. Nippon Life Insurance revealed that it purchased half of the $68 million offering. The bond issuance is the second one targeting corporates after the
In a stunningly brave act of stunningly brave stunning bravery, the entire journalistic staff of the Atlantic has declared that Donald Trump, if re-elected, will become a dictator. No other journalistic outlet has made such a stunningly brave claim except the New York Times, the Washington Post, USA Today, Reuters, the Associated Press, NBC, ABC,
Loading… Loading… Block Inc SQ , a company established by Jack Dorsey, has launched its self-custodyBitcoin (CRYPTO: BTC wallet, Bitkey, now accessible in over 95 countries. What Happened: Self-custody Bitcoin wallet, Bitkey will be available as a mobile app or hardware storage and will highlight a two-of-three multi-signature wallet consisting of a mobile key, a
they sure love Q — Cadillac plans new electric SUV to fit between the Lyriq and Escalade EV The news follows last month’s reveal of the entry level Cadillac Optiq EV. Jonathan M. Gitlin – Dec 14, 2023 2:00 pm UTC Enlarge / I’m not 100 percent sure but it looks a lot like the
A view of clouds over Manhattan skyline in New York, United States on August 08, 2023. (Photo by Fatih Aktas/Anadolu Agency via Getty Images) Anadolu Agency | Anadolu Agency | Getty Images Manhattan rents fell for the first time in over two years, as the supply of empty apartments grew and renters held out for
President Joe Biden and Democrats cannot win the debate over the economy without fundamentally reframing the terms of the choice they are offering voters, an extensive new research study by one of the partys prominent electoral-strategy groups has concluded. The study, scheduled to be released today, seeks to mitigate one of the partys most glaring
The U.S. Court of Appeals for the 2nd Circuit recently upheld New York’s requirement that applicants for handgun carry permits demonstrate “good moral character,” deeming it consistent with the Second Amendment. But the appeals court enjoined enforcement of the state’s demand that applicants submit information about their social media accounts, deeming it inconsistent with the
Computational Photography — Guidemaster: A cheat sheet for comparing the iPhone 15 lineups cameras Most folks don’t need the Pros, but there are some use cases where it matters. Samuel Axon – Dec 14, 2023 12:08 am UTC Enlarge / The iPhone 15 lineup. reader comments 27 Over the past couple of years of reviewing
On December 8, the federal government made two seemingly disconnected but inexorably linked announcements that do not bode well for America’s future. First, the Department of Transportation hyped an $8.2 billion grant for passenger rail projects. Second, the Congressional Budget Office revealed that the federal government racked up a $383 billion deficit in just the