The Puerto Rico Oversight Board Friday approved the commonwealth’s fiscal 2024 budget that increases government spending and was already approved by the governor and local legislature. The budget consensus marks a departure from the long history of disagreements between the territory’s elected government and the board created by the federal government to restructure Puerto Rico’s
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Municipals were steady to end the month and first half of the year ahead of a paltry new-issue calendar which will see next week’s volume drop to the lowest level of 2023. U.S. Treasuries were firmer out long and equities rallied. Treasuries saw yields fall by as much as seven basis points on the long
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The crypto market remains volatile after the June 14 Federal Open Market Committee (FOMC) announcement and presser with Fed Chairman Jerome Powell revealed that the central bank would pause rate hikes for June. While this move aligned with investors’ expectations, the crypto market has yet to show any bullish momentum. Powell also mentioned that at
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June municipal bond issuance dropped 9% from 2022 as uncertainty over Federal Reserve policy and market volatility continued, but the total was the highest month of the year. June’s total volume was $34.436 billion in 744 issues, down from $37.775 billion in 984 issues a year earlier, according to Refinitiv data, and lower than the
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Cryptocurrencies must reach mass adoption to unlock their maximum potential as a network technology and their value as financial assets.  As with other technologies, the adoption of crypto follows a classic bell curve: Starting from a small number of innovators, it grows as early adopters embrace it, moving into mass adoption as it expands to
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The Supreme Court on Friday blocked the Biden administration’s student debt relief plan in a 6-3 decision, stopping more than 40 million borrowers from receiving loan forgiveness and delivering a major defeat to one of the president’s key campaign promises. Chief Justice John Roberts, writing for himself and his five conservative colleagues, ruled that Congress
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In the midst of the financial crisis in October 2008, Berkshire Hathaway Inc. CEO Warren Buffett made a significant late-night phone call to the then-Treasury Secretary Henry "Hank" Paulson. Buffett aimed to share an idea that could potentially revive the struggling economy. Don't Miss:Why Silicon Valley Elites Are Betting On This Startups Vision For Reuniting
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Origin, a financial wellness startup, announced its acquisition of Finny, leaving the financial terms of the deal undisclosed. Briefly:Origin will integrate Finnys education, content, curriculum, and debt management tools, further bolstering its platform which simplifies finances for individuals by making it easy to track spending, get advice, as well as manage investments. Impact: "I'm thrilled
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Reviewed by Lily Ramsey, LLM Jun 30 2023 Protein aggregates accumulate during aging and are linked to neurodegenerative diseases like Alzheimer's, Parkinson's or Huntington's disease. A new study by the Nyström lab at Gothenburg University, in collaboration with the Max Planck Institute for Biology of Ageing in Germany, describes a novel, engineered approach that makes
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