Chicago will deliver its 2024 budget forecast in mid-September after a series of public roundtable meetings this month that, along with a newly delivered transition report, will help shape Mayor Brandon Johnson’s first budget. Recommendations on pension funding fixes from a Johnson-appointed working group also could influence the budget as the panel readies initial proposals
Municipals saw small losses ahead of a larger new-issue calendar, while U.S. Treasuries were stronger up front and weaker out long after the jobs report came in lower than expected, as data continued to send the markets mixed signals on the economy’s health. Triple-A benchmarks rose up to three basis points, while USTs saw yields
Despite wide expectations for declining revenues, big-ticket tax cuts were on the agenda in state legislatures across the Northeast during the most recent budget negotiation periods. With a slowdown in economic activity expected going into fiscal 2024 after a strong post-COVID rebound, almost every state in the region passed or is still negotiating tax cuts
In this article META DKNG FSLR BABA Follow your favorite stocksCREATE FREE ACCOUNT A Rivian logo on an Amazon.com delivery electric van photographed in Chicago, Illinois, on July 21, 2022. Jamie Kelter Davis | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Alibaba — U.S. shares of the Chinese company
To run a municipality in 2023 means preparing for constant cyberattacks. Cyberattacks have become “an everyday phenomenon” for municipalities, said Omid Rahmani, associate director of public finance at Fitch Ratings. “This problem is not going to get better. In the short term, it’s going to get worse before it gets better.” Moody’s Investors Service found
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, July 6, 2023. Brendan McDermid | Reuters A sweeping change sought by the Securities and Exchange Commission would take fund managers’ culpability a step further than current standards if they don’t effectuate a greater standard of care. The rule
Forbes Global Properties Singapore’s so-called shophouses are a defining element in some of the city-state’s historic neighborhoods. Built in the early 1900s, they are usually found in the city center, blend traditional architecture with ornate details and display colorful facades. ADVERTISEMENT “Shophouses traditionally refer to two- or three-story terrace houses commonly found in Southeast Asia,
Coin Stories host Natalie Brunell — who has 302,600 followers on Twitter — recalls feeling very tense before meeting with Salvadoran President and Bitcoin maximalist Nayib Bukele in March 2022. “It was very formal, there were guards outside his office. What is funny is it felt very formal outside of his actual office. Then you
New York State Common Retirement Fund’s investment return was negative 4.14% for the state’s fiscal year that ended March 31, said state Comptroller Thomas DiNapoli. The fund is valued at $248.5 billion. The fund’s returns reflect retirement and death benefits of $14.7 billion, which were paid during the fiscal year. For the prior fiscal year,
When the market is volatile, it’s important to be mindful of your other assets and think of your portfolio in a holistic way, said certified financial planner Lazetta Rainey Braxton, co-founder and co-CEO of virtual advisory firm 2050 Wealth Partners. “When we are thinking about market volatility, that means that there is uncertainty about what direction
Wealthy individuals who benefit from the UK’s non-dom rules paid record sums to the exchequer in the past tax year, in spite of tighter rules governing the regime. HM Revenue & Customs raised £8.5bn from non-domiciled taxpayers in 2021-22, it said on Thursday. Receipts were at their highest level since rule changes were introduced in
The advent of Bitcoin (BTC) Ordinals signals the “organic return of builder culture” to the network, according to Ethereum co-founder Vitalik Buterin. Buterin made the comments in a July 7 Twitter space where he spoke at length with Bitcoin proponents Eric Wall and Udi Wertheimer about what Bitcoin developers could learn from Ethereum devs. Buterin
In this article KDP JBLU SG AFRM Follow your favorite stocksCREATE FREE ACCOUNT A JetBlue Airways Corp. plane departs at Reagan National Airport (DCA) in Arlington, Virginia, U.S., on Monday, April 6, 2020. Andrew Harrer | Bloomberg | Getty Images Check out the companies making the biggest moves midday: JetBlue Airways — Shares of JetBlue
Investors sold stocks and bonds across the world on Thursday as US borrowing costs touched a 16-year high, following strong jobs figures that intensified expectations of further rate rises by the Federal Reserve. Europe’s Stoxx 600 index closed down 2.3 per cent, its biggest one-day drop since March, as the yield on the two-year US
The Federal Reserve needs to raise interest rates a bit further to rein in an inflation rate that’s too high, monetary expert John Taylor said. “They’ve had a big adjustment over the last couple of years,” the Stanford University professor told a webinar hosted by the American Council for Capital Formation on Thursday, adding, “I
A sign advertising home mortgage services at a Bank of America branch in Manhattan Beach, Calif. Patrick T. Fallon | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage hit 7.22% Thursday, according to Mortgage News Daily. That’s the highest point since early November. Mortgage rates follow loosely the yield on
Barking with community-driven enthusiasm and bone-rattling potential, dog-themed coins are forming a pack on the stage of emerging digital assets. In recent years, the cryptocurrency world has witnessed a surge in the popularity of dog-themed digital assets. These endearing tokens, which drew inspiration from the popular Doge meme, have swept the cryptocurrency industry by storm,
Bitcoin (BTC) miners made a lofty $184 million from transaction fees in the second quarter, far more than what they pocketed over the entire 2022 — as Bitcoin’s price surged and BRC-20 tokens flourished. The $184 million payout is more than a 270% increase from the first quarter of 2023 and it is the first quarter
Federal Reserve officials signalled they intend to resume interest rate increases amid a growing consensus that more tightening is needed to stamp out high inflation in the world’s largest economy. According to minutes from June’s meeting of the Federal Open Market Committee, “almost all” officials who participated said that “additional increases” in the Fed’s benchmark interest
Municipals were little changed Wednesday as U.S. Treasuries were weaker after the release of the Federal Open Market Committee meeting minutes showed more tightening is likely on the way. Equities were in the red to close the session. The secondary was uneven but triple-A yield curves were mostly steady, as municipals are wont to do