Municipals were weaker Thursday, but outperformed U.S. Treasury market losses, as the final large deals of the week priced, including several housing issues. Equities ended down. Municipal bond mutual fund inflows continued for the third consecutive week as LSEG Lipper reported investors put $295.5 million into the funds for the week ending Wednesday with high-yield
Portra | E+ | Getty Images Spring is almost here — and people looking for a new rental face a competitive market. Asking rent prices in the U.S. jumped to $1,959 in February, according to Zillow Group’s latest Rental Market Report. That’s up just 0.4% from the month prior, but a 3.5% increase from a
The working day for MPs in the House of Commons chamber has been shorter on average this parliamentary session than in any other in the past quarter century, according to a Financial Times analysis. Prime Minister Rishi Sunak has been accused of presiding over a “zombie parliament”, with opposition parties arguing the relative shortness of
Expansionary fiscal policy, Biden’s industrial policy and strong consumer spending are expected to outweigh higher interest rates and restrained growth, decreasing the likelihood of a recession in 2024, according to the UCLA Anderson Forecast. January’s drop in retail sales and housing starts was due more to the weather in the eastern U.S. than a pullback
Municipals were little changed Wednesday as two billion-dollar-plus deals from the Dormitory Authority of the State of New York and CommonSpirit Health took focus. U.S. Treasuries were weaker and equities were mixed. The two-year muni-to-Treasury ratio Wednesday was at 59%, the three-year at 59%, the five-year at 57%, the 10-year at 57% and the 30-year
The US has held secret talks with Iran this year in a bid to convince Tehran to use its influence over Yemen’s Houthi movement to end attacks on ships in the Red Sea, according to US and Iranian officials. The indirect negotiations, during which Washington also raised concerns about Iran’s expanding nuclear programme, took place
A For Sale sign is posted in front of a home for sale in San Marino, California on September 6, 2023. Frederic J. Brown | AFP | Getty Images Mortgage rates swung slightly lower last week, fueling a significant jump in mortgage demand for the second straight week. Total application volume rose 7.1%, compared with
Keeping state coffers stocked and liquid requires a delicate mix of analysis, hedging and listening, with an emphasis on remaining nimble over the coming months. “Over the last eighteen months, the Fed’s told you what the answer is, and the market has continually bet against them,” said Thomas Waters, chief investment officer, Pennsylvania Treasury. ”They’ve
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK economy returned to growth in January helped by the expansion of the services sector, following a technical recession in the second half of 2023. Gross domestic product rose 0.2 per cent between December
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US national security adviser Jake Sullivan has warned the Israeli government against “smashing into Rafah” as the Biden administration underlines its opposition to the planned assault on one of Gaza’s biggest cities. The US was
Munis were steady as the primary market took focus with the $2.8 billion retail pricing from the Dormitory Authority of the State of New York. U.S. Treasuries were weaker and equities rallied after the Consumer Price Index showed inflation ticked up in February. Bond yields didn’t move much upon the CPI release, but Treasuries grew
Former U.S. President Donald Trump speaks as he arrives at a Manhattan courthouse, for the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, in New York City, U.S., October 2, 2023. Brendan Mcdermid | Reuters Former President Donald Trump has
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Skynesher | E+ | Getty Images Factors beyond high mortgage rates are affecting housing affordability for many Americans, according to experts. Almost four years ago, a household earning $59,000 annually could afford a new mortgage without spending more than 30% of their monthly income and
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation increased unexpectedly to 3.2 per cent last month, in data set to be scrutinised by the US Federal Reserve as it decides when to reduce interest rates. Economists polled by Bloomberg had expected
Munis were steady Monday ahead of a large new-issue calendar, while U.S. Treasuries were weaker and equities ended mixed. Munis continue to see strong demand for bonds over the past several weeks, which has “pushed munis to be richer on a relative value basis versus Treasuries,” said Jason Wong, vice president of municipals at AmeriVet
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Brussels is pushing to give Ukraine €2bn-€3bn this year from profits derived from Russia’s frozen assets, accelerating the funding plan as US financial support to Kyiv wanes. The European Commission is preparing a plan,
The National Football League’s Chicago Bears are pursuing plans to build a publicly owned domed stadium in Chicago, boosted by $2 billion of private funds. The team has changed course after chasing a planned stadium development in Arlington Heights, a northwest suburb of Chicago, where talks were bogged down amid disagreements with three area school
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Telegram has 900mn users and is nearing profitability, according to the owner of the secretive messaging app, as the company moves closer to a potential blockbuster stock market listing. Pavel Durov told the Financial Times
Over a 40-year career, Scott Melbye watched the US uranium industry fall from its position as the world’s leading producer of the radioactive ore that powers nuclear reactors to an also-ran with negligible production. Now, the president of the Uranium Producers of America is leading an industry charge to revive mothballed mines and invest in
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. Americans are increasingly happy about the economy but reluctant to give credit to Joe Biden, according to a new poll that underscores the US president’s challenges as he squares off against Donald Trump in this
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