The Puerto Rico Oversight Board reached an agreement Friday with several bondholders of Puerto Rico Electric Power Authority debt in a proposed plan of adjustment that offers significantly more of the original value of outstanding bonds to them than to those who did not agree to the plan. BlackRock Financial Management, Nuveen Asset Management, Franklin
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Municipals were steady Friday ahead of a smaller new-issue calendar, while short-term Treasuries were weaker and equities rallied. The two-year muni-to-Treasury ratio Friday was at 63%, the three-year at 65%, the five-year at 66%, the 10-year at 70% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the
The Port Authority of New York and New Jersey will bring affirmations of its AA-minus level ratings to its next bond deal. The authority plans to sell $1.08 billion of bonds, according to a preliminary official statement published Thursday. Ity plans to issue two tranches, Series 242 for $535 million and Series 243 for $545
Shoppers walk by a Nordstrom sign at Westfield San Francisco Centre in San Francisco, May 11, 2023. Justin Sullivan | Getty Images Check out the companies making the biggest moves midday: Nordstrom — The department store retailer sank 8.6% even after topping fiscal second-quarter earnings and revenue expectations. Earnings came in 40 cents ahead of
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In a swift and intriguing turn of events, a previously enigmatic Bitcoin (BTC) address managed to catapult itself to the esteemed position of the third-largest holder of BTC. As reported by Cointelegraph on Aug. 22, the address in question accumulated a staggering 118,000 BTC. While its identity has now been attributed to Robinhood, questions still
Federal Reserve Chair Jerome Powell spoke today and in his Jackson Hole speech he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. The remarks by Powell strengthen the narrative that interest rates are likely to remain higher for longer. However, a positive sign is that after
Wells Fargo is eligible to underwrite municipal bonds in Texas after the state attorney general’s office said Friday it was unable to determine that the investment bank discriminates against the firearm industry. A review of Wells Fargo’s standing letter of compliance with a Texas law prohibiting state and local government contracts with companies that discriminate
On Wednesday the Internal Revenue Service issued a notice of proposed adverse determination to the Port of Port Arthur Navigation District of Jefferson County, Texas, indicating that a 2017 $55 million bond issuance will be considered taxable, though attorneys caution that such situations nearly always resolve without impact to the investors. According to the notice posted on
California has expanded the ability of its local agencies to use progressive design-build contracts for certain infrastructure projects in a bid to control costs and remain on schedule. Gov. Gavin Newsom in July signed into law the latest progressive design-build measure, Senate Bill 146, which allows the Department of Water Resources and the California Department
Judge Martin Glenn shot down efforts to have a special shareholders class declared in the Celsius Network bankruptcy case in a court document filed on Aug. 25. The judge also declined to settle whether or not the Celsius (CEL) token was a security. In a motion filed on July 25 and heard before the United
Libertify, an AI-driven risk management platform, unveiled its latest offering in crypto wealth management: an artificial intelligence (AI) audit. This new feature allows crypto investors to assess and manage their portfolio risks and instantly receive optimization suggestions aimed at minimizing risk without compromising performance. LibertifyCEOSteve Rosenblumemphasized the importance of learning from past market downturns. By
With Quiver Quantitatives recentinstitutional holdings data, we can see that hedge funds and asset managers have been increasing their holdings in MercadoLibre MELI . Firms such as Scottish investment managerBaillie Gifford, Fidelity Investments, andBlackrockhave all added to their MELI positions recently. Most notably, Baillie Gifford increased shares held by 4.28% (as filed on 6/30), bringing
Mastercard IncMA has agreed to acquire a minority stake inMTN Group Ltd'sfinancial-technology business at a valuation of $5.2 billion. The financial details of the transaction or stake percentage remain undisclosed. The deal involves a commercial agreement on payments and remittances using Mastercard's technology infrastructure to expand in Africa, Bloombergreports. Also Read:Mastercard's Conservative Outlook and Relative
Former President Donald Trumps NFT collection experienced an astounding surge of 1200% in sales shortly after his interview with Tucker Carlson. What Happened: The spike in activity occurred simultaneously with the GOP presidential debate being held on Fox News. Data from OpenSea revealed that within the past 24 hours, over 40 NFTs from Trumps collection
why dream? — The strange, secretive world of North Korean science fiction Unusual and often breathtaking, the genre is relatively unknown in the West. Andrada Fiscutean – Aug 25, 2023 11:00 am UTC Enlarge / Inside the Submarine by Kim Kwang Nam, from the series “The Future is Bright.”Koryo Studio reader comments 0 with A
Bitcoin, taking inflation into account, has in fact been a solid store of value since 2017, commentators conclude. 2428 Total views 34 Total shares Listen to article 0:00 Markets News Join us on social networksBitcoin (BTC) is still worth $20,000 nearly six years after first reaching it if adjusted for inflation. According to data from
Misreading ITAR? — Rocket Report: Justice Department sues SpaceX; North Korean launch fails Elon Musk may again be in trouble for his social media posts. Stephen Clark – Aug 25, 2023 11:00 am UTC Enlarge / SpaceX’s Super Heavy booster, numbered Booster 9, rolls back to its launch pad in Texas for more testing. The
After reaching a peak of $310.16 on July 26, 2021, PayPals PYPL stock has declined by about 80%. While much of this sell off is justified (considering that PYPL traded for more than 50x earnings for most of 2021), I believe this sell-off is overdone and that PYPL offers investors with a favorable risk-reward opportunity.