Residential homes in Discovery Bay, California, US, on Thursday, Nov. 7, 2024. Mortgage rates in the US increased to the highest level since July. David Paul Morris | Bloomberg | Getty Images Mortgage rates last week moved higher for the fourth week in a row. That caused already very weak mortgage demand to drop even
China’s currency has weakened to a 16-month low as the potential of sharp tariff increases from the incoming Trump administration fuels selling pressure on the renminbi. The onshore renminbi weakened 0.1 per cent to Rmb7.34 against the dollar on Wednesday, its weakest since September 2023, in spite of the People’s Bank of China maintaining a
<img src=”https://public.flourish.studio/visualisation/21069905/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were mixed Tuesday but outperformed the U.S. Treasury market while equities closed the session in the red. Triple-A yield curves barely moved compared to the losses in USTs, which saw yields rise over the entire curve and up to eight basis points 10-years and out, pushing ratios lower.
JP Morgan is the latest major bank to quit the Net-Zero Banking Alliance. Its membership in the group led Texas to put it under review for compliance with a 2021 state law that prohibits governmental contracts with companies that “boycott” the fossil fuel industry. Bloomberg News JP Morgan announced Tuesday it is leaving the Net-Zero
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Housing surveyors have reported the largest fall in new buyer inquiries in October since the financial crisis, excluding the period during the Covid-19 lockdowns. Isabel Infantes | Afp | Getty Images LONDON — U.K. house prices fell for the first time in nine months in December, as the country’s Budget and higher mortgage rates dampened
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s long-term borrowing costs hit their highest level since 1998 on Tuesday as investor worries over the threat of stagflation mount. The yield on the 30-year gilt touched 5.21 per cent, ahead of the
<img src=”https://public.flourish.studio/visualisation/21055199/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Monday as U.S. Treasury yields rose slightly out long and equities ended mixed. With the steady tone Monday, muni to UST ratios fell slightly. The two-year municipal to UST ratio Monday was at 65%, the five-year at 64%, the 10-year at 66% and the 30-year
Congestion Relief Zone signage on Park Avenue in New York on Friday, before the tolls took effect Sunday.Bloomberg News The New York Metropolitan Transportation Authority activated congestion pricing on Sunday for vehicles entering lower Manhattan. The launch of toll collections is a milestone for a program that was years in the making, beset by lawsuits
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Anadolu | Anadolu | Getty Images Bitcoin ETFs were a hit with investors in 2024, and now asset management firms are starting to build out ways to combine crypto and derivatives in exchange traded packages. New products are set to roll out this month. Asset manager Calamos announced Monday that it will launch a structured
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The private equity industry is preparing to lobby the incoming Trump administration to give it access to broad pools of capital it has not historically been allowed to tap, including retirement savings, in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK City minister Tulip Siddiq is under mounting pressure to resign after becoming embroiled in a scandal tied to the ousted Bangladesh government. The minister, who has responsibility for fighting corruption, has lived in
Sopa Images | Lightrocket | Getty Images Major U.S. indices had a good run in 2024, thanks to the buzz around artificial intelligence and interest rate cuts. However, macro uncertainty could weigh on investor sentiment in 2025. In this scenario, investors looking for regular income can consider adding dividend stocks to their portfolios. Top Wall
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Seven years ago, I strode through the long black-and-white corridors of the White House’s Executive Office of the President to a room occupied by Peter Navarro, adviser to the then president Donald Trump. Navarro’s desk was buried beneath piles of paper. “I’m always messy,” the economist laughed, and presented a 140-page report with an American
<img src=”https://public.flourish.studio/visualisation/21026447/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Friday ahead of the first full week of the New Year and ahead of a $5 billion-plus new-issue calendar while U.S. Treasuries saw modest losses and equities made gains. Triple-A yields fell up to seven basis points on the one-year, depending on the scale, while UST
The Proton Center of Arkansas, one of a series of struggling, bond-financed cancer treatment centers across the country.The Proton Center of Arkansas The new year rang in fresh signs of distress at a pair of long-struggling cancer treatments centers in Maryland and Arkansas financed with bonds through Wisconsin’s conduit issuer the Public Finance Authority. The
Rob Bonta, California’s attorney general, announced the $10 million settlement in the fraud case on Thursday.Bloomberg News A former Los Angeles County physician, a non-profit medical center he founded, a laboratory he co-owned, and an executive at these entities have agreed to pay $10 million to settle allegations that they submitted false claims to Medicare
“The largest share of the higher revenue is from one-time litigation proceeds and year-end accounting adjustments related to prior-year cost recoveries,” said Washington, D.C., CFO Glen Lee.Christopher Mobley The latest revenue estimate from the District of Columbia’s chief financial officer shows a positive $169.7 million bump in actual inflows compared to the estimates that were
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