A Redfin sign in front of a home for sale in Atlanta, Georgia, on Sunday, Nov. 13, 2022. Elijah Nouvelage | Bloomberg | Getty Images Strong demand and tight supply continue to push home values higher, even though mortgage rates are now moving higher again. Home prices in February jumped 6.4% year over year, another
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC’s chief executive Noel Quinn is to retire unexpectedly after five years, setting off a hunt for a successor at the UK-based bank. Quinn has overhauled the lender since taking charge in 2019, selling off
Shreveport, Louisiana, voters approved $256 million of general obligation bonds Saturday. The voters approved $125 million for a streets and drainage bond, $82 million for a water and sewer bond, and $49 million for a police and fire infrastructure bond. The first two bonds passed with 80% in favor and 20% against. The last passed
When Humza Yousaf tore up a power-sharing deal with the Scottish Greens last Thursday at Bute House, he sought to improve his nationalist party’s prospects by shifting away from the progressive policies associated with the coalition. Four days later, that political miscalculation boomeranged back on the first minister in historic fashion as Yousaf returned to
Upcoming highly-rated offerings from two Virginia agencies and the state of Delaware should provide some direction for yield curves as the market digests larger supply. Delaware is putting $367 million of general obligation bonds out for competitive bid on Tuesday. The Virginia Resources Authority is set to price Tuesday $135.73 million of Virginia Pooled Financing Program infrastructure
Saudi Arabia’s economy minister rejected recent reports that the kingdom’s $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. “All projects are moving full steam ahead,” Faisal Al Ibrahim told CNBC’s Dan Murphy on Monday at the World Economic Forum’s special meeting in Riyadh.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Scotland’s beleaguered first minister Humza Yousaf is considering quitting ahead of crunch votes of no confidence expected this week. Yousaf, who faces two attempts to bring down his premiership and government, is set to decide
Collin Teague has joined Siebert Williams Shank & Co. as a managing director in the company’s public finance group in New York, the firm announced Thursday. Teague was most recently an executive director in the municipal securities department at Morgan Stanley. “Collin joining us is further evidence of our commitment to growing our public finance
The largest western banks that remain in Russia paid the Kremlin more than €800mn of taxes last year, a fourfold increase on prewar levels, despite promises to minimise their Russian exposure after the full-scale invasion of Ukraine. The seven top European banks by assets in Russia — Raiffeisen Bank International, UniCredit, ING, Commerzbank, Deutsche Bank,
With about 94% of the $55 billion of federal funding from the 2021 Infrastructure Investment and Jobs Act for the country’s water and wastewater needs yet to be disbursed, issuers may not need much in the way of municipal bonds for water infrastructure, analysts said. Bond issuance for water and sewer purposes declined 6.7% to
In this article WING NFLX GM Follow your favorite stocksCREATE FREE ACCOUNT Rafael Enrique | Lightrocket | Getty Images Earnings season is giving analysts plenty to chew on as they learn more about the impact of macro challenges on companies. Though Wall Street is watching short-term stock moves spurred by quarterly results, the top analysts
Rishi Sunak will face a challenge to his leadership if the Conservatives suffer heavy losses and lose high-profile Tory mayors in next week’s local elections, rightwing rebels have claimed. Most Conservative MPs believe the prime minister would survive even a terrible set of results on May 2 because there is no viable alternative and a
On Thursday the Governmental Accounting Standards Board requested feedback via a survey designed to aid the board’s tinkering with standards and disclosures regarding infrastructure and capital assets. “We would like feedback from users of governmental financial statements on what information would have a meaningful effect (more than ‘nice to know’) on their analyses for decision making or assessment
Investors are pushing back their expectations of interest rate cuts around the world, as the US Federal Reserve’s battle with price pressures complicates other central banks’ loosening plans. As the US reported the latest in a string of poor inflation figures, markets reined in their forecasts for rate cuts by the European Central Bank and
The California Treasurer’s office will relaunch its DebtWatch website on May 1, offering a more user-friendly format with vastly more data than the original 2015 version. The website’s software will allow investors, issuers and taxpayers to access all the data the California Debt and Investment Advisory Commission gathers on bond issuance to allow them to
In this article WOLF Follow your favorite stocksCREATE FREE ACCOUNT The New York Stock Exchange welcomes executives and guests from Wolfspeed (NYSE: WOLF), on Oct. 4th, 2021, in celebration of its listing. NYSE Company: Wolfspeed (WOLF) Business: Wolfspeed is a semiconductor company focused on silicon carbide technologies. The company provides solutions for efficient energy consumption
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This article is an on-site version of The Lex Newsletter. Premium subscribers can sign up here to get the newsletter delivered every Wednesday and Friday. Standard subscribers can upgrade to Premium here, or explore all
Municipals held steady Friday ahead of a sizable $7 billion, new-issue slate with a mix of credits across the spectrum, from healthcare to housing to toll roads and bellwether general obligation issuers. U.S. Treasuries improved across the curve while equities rebounded after another volatile week across markets. “Bond market investors are all wishing that April was behind us as they
Microsoft and Google’s owner Alphabet have quashed investor scepticism around the vast sums spent on developing artificial intelligence, after being boosted by rampant corporate demand for their cloud computing services. The combined market value of the two US tech giants rose by more than $250bn on Friday, a day after each reported double-digit revenue growth
Investors should be aware of risks that Build America Bonds pose if called under an extraordinary redemption provision, as many of these could result in losses, especially if the bonds were purchased at a premium,the Municipal Securities Rulemaking Board warned Friday. That comes amid expectations that issuers will redeem $20 to $30 billion in BABs
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