Municipals were little changed as secondary trading slowed Thursday but the short-end remains under pressure and outflows returned to municipal bond mutual funds. U.S. Treasuries ended the session mixed and equities sold off hard. Muni-UST ratios were steady Thursday. The three-year muni-UST ratio was at 61%, the five-year at 67%, the 10-year at 72% and
As the housing market cools quickly, house flippers are finding it harder to make fast profits. In the third quarter, gross flipping profit, which is the difference between the median purchase price paid by investors and the median resale price, dropped to $62,000, according to ATTOM, a real estate data provider. That’s down 18.4% from
“A highly profitable trading strategy” was how hacker Avraham Eisenberg described his involvement in the Mango Markets exploit that occurred on Oct. 11. By manipulating the price of the decentralized finance protocol’s underlying collateral, MNGO, Eisenberg and his team took out infinite loans that drained $117 million from the Mango Markets Treasury. Desperate for the
The UK’s health minister on Thursday said that the government had no realistic way of meeting nurses’ pay demands as the first day of historic strikes got under way. Nurses across England, Wales and Northern Ireland will stage industrial action for 12 hours, after ministers refused to negotiate with the Royal College of Nursing over
Short-end municipals saw continued pressure Wednesday, further inverting the muni curve, while Fed Chairman Jerome Powell’s hawkish comments sent traders digesting the Fed’s next moves after the Federal Open Market Committee hiked rates 50 basis points. U.S. Treasuries ended the session slightly better after see-sawing post-FOMC and equities closed with losses. In his post-FOMC meeting
Considering an idyllic spot on the water in the Turks and Caicos Islands? Kira Isle, Leeward, on Providenciales may just be the ticket. The family-oriented community boasts a marina, restaurants, water sports companies and an international school, among other services, according to Gordon Williams of Grace Bay Realty. “Homeowners in this area have the luxury
The Securities and Exchange Commission has proposed a new Regulation Best Execution that would establish a best execution standard, mandating that dealers in any transaction with a customer or a customer of another broker-dealer use reasonable diligence to determine the best market for the security and buy or sell so that the price is as
On Dec. 14, Bitcoin (BTC) price hit a one-month high and saw a brief resurgence in bullish momentum, but a hawkish report by the Federal Reserve’s Federal Open Market Committee (FOMC) and comments from Fed chair Jerome Powell sent BTC to an intraday low at $17,659. Stocks and Bitcoin started the day slightly up but quickly
In this article BBY DAL MRNA TSLA Follow your favorite stocksCREATE FREE ACCOUNT Check out the companies making headlines before the bell: Delta Air Lines (DAL) – Delta jumped 3.8% in the premarket after the airline raised its current quarter forecast and issued an upbeat 2023 outlook, citing robust travel demand. Tesla (TSLA) – Goldman
Bitcoin (BTC) speculators have disappeared from the market and their mood “destroyed,” says popular analyst Philip Swift. In a tweet on Dec. 14, the co-founder of trading suite DecenTrader flagged potential maximum risk returns for BTC at current prices. Swift: “Euphoria destroyed” from Bitcoin bear market BTC/USD is around 70% below its last all-time highs,
UK inflation dipped to 10.7 per cent in November as an easing in the rise in petrol prices helped to lower the rate from a 41-year high of 11.1 per cent last month. The figure was better than an expected 10.9 per cent and economists said the annual inflation rate had now probably passed its
In this article TWTR Follow your favorite stocksCREATE FREE ACCOUNT Pedestrians walk in front of the Twitter Inc. headquarters in San Francisco, California. David Paul Morris | Bloomberg | Getty Images In an effort to cut costs following Elon Musk’s chaotic $44 billion acquisition of Twitter, the social media company has stopped paying rent, according
Municipals continued to see large cuts on the short end Tuesday as selling pressure there remained elevated but the rest of the curve improved following a better-than-expected consumer price index report that led to a rally in U.S. Treasuries. Equities ended the session in the black. The one-year triple-A muni ended the session with up
Walgreens and CVS agreed to a $10.7 billion settlement, the third large monetary agreement forced by a coalition of state attorneys general seeking redress from the opioid addiction crisis. The agreement resolves allegations that both national pharmacy chains contributed to the nation’s opioid addiction crisis by failing to oversee how medications were distributed. Under the
The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communications, recently announced the launch of a digital currency account insurance product. The launch comes at a time when the number of personal digital currency wallets created in the Chinese city of Suzhou alone now exceeds 30 million. Insurance
Share to Facebook Share to Twitter Share to Linkedin New York real estate developers say a casino in Manhattan is a long shot. Queens and the Bronx are the odds-on favorites—maybe even Coney Island. John Catsimatidis, the New York City billionaire best known for owning the supermarket chain Gristedes, is looking for the right deal
Sam Bankman-Fried has been arrested in the Bahamas at the request of US government prosecutors who have filed criminal charges against the disgraced crypto entrepreneur. Bahamian attorney-general Ryan Pinder said the country’s police force had taken Bankman-Fried into custody after receiving “formal notification” from the US government that it had filed criminal charges and was
Although some advisors today may foresee themselves never recommending crypto investments, the last thing they should want is to look like “a deer in headlights” should a client ask about digital assets. So said Don Friedman, president of the professional group Digital Assets Council of Financial Professionals, on the first day of Financial Planning’s INVEST:
Moody’s Investors Service downgraded to A1 from Aa3 $651 million of outstanding debt issued for Main Line Health System, a not-for-profit hospital operator managing four large facilities in the Philadelphia area. The rating agency said Thursday’s downgrade reflected “a multi-year trend of weak operating performance,” resulting in budget shortfalls analysts expected to continue into 2023.
The Consumer Price Index (CPI) data on Dec. 13 and the outcome of the Federal Reserve meeting on Dec. 14 could influence the United States stock markets and the cryptocurrency markets in the near term. Traders are likely to play it safe and not take large directional bets until the CPI print because any nasty