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California’s ESG fund takes aim at state’s wildfire scourge
Massive fires burning in northern California and Oregon in September blanketed San Francisco with smoke.Bloomberg News Wildfire resilience projects became the first beneficiary of California’s Climate Catalyst Revolving Fund — created as part of a larger package of ESG-related efforts by Gov. Gavin Newsom in 2019. The state’s Infrastructure and Economic Bank, charged with running…
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Focus on primary slate; Mutual fund inflows top $1B
<img src=”https://public.flourish.studio/visualisation/20648548/thumbnail” width=”100%” alt=”chart visualization” /> Municipal bonds were little changed in secondary trading as the focus shifted to the primary market amid several large deals while municipal bond mutual fund inflows topped $1 billion. U.S. Treasuries were mixed and equities ended in the red. Lipper reported fund inflows of $1.154 billion for the week…
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The road to $100,000 — What’s behind bitcoin’s storied 2024 run
A novelty Bitcoin token arranged in front of the price of the cryptocurrency against the US dollar, reaching over $100,000, in Hong Kong, China, on Thursday, Dec. 5, 2024. Paul Yeung | Bloomberg | Getty Images Bitcoin‘s long-awaited push above $100,000 comes during the culmination of a year in which the leading cryptocurrency was embraced…
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Remembering Art Cashin’s most valuable stock market lessons – and the stories behind them
Art Cashin speaking at the NYSE on Dec. 30th, 2022. CNBC Art Cashin, UBS’ director of floor operations and a fixture at the New York Stock Exchange for nearly 60 years, died this week at age 83. Cashin was one of the great historians of the stock market, but he was not an academic. His method…
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Market FOMO? We go to the charts for attractive purchase levels on 2 buy-rated stocks
Feeling shut out of this hot market? Maybe some FOMO — fear of missing out. You’re not alone. The S & P 500 keeps plowing through record highs in the first week of December after November posted the best monthly gains of the year. All that buying, however, has pushed the market into overbought territory,…
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Europe races to set up €500bn defence fund
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world EU countries are discussing a €500bn joint fund for common defence projects and arms procurement, tapping bond markets to boost spending in anticipation of Donald Trump’s White House return. Trump’s threat to withdraw…
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Washtenaw County treasurer blazed a path for women in public finance
Longtime Washtenaw County, Michigan treasurer Catherine McClary, who died Dec. 2, was well-known in Midwest public finance circles for her activism and ability to pilot innovative policies later adopted by other counties.Washtenaw County, Mich. Longtime Washtenaw County, Michigan treasurer Catherine McClary was remembered this week as a trailblazer, role model and prominent voice for social…
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French parliament votes to oust Michel Barnier’s government
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The French parliament on Wednesday voted to oust prime minister Michel Barnier over his proposed deficit-cutting budget, plunging the country into deeper political turmoil. A motion of no confidence was approved by 331 votes in…
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Market technicals supportive; Powell comments affirm December rate cut
<img src=”https://public.flourish.studio/visualisation/20627705/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady Wednesday as the market saw another heavy slate of new issuance and inflows continued into muni mutual funds. U.S. Treasuries made gains and equities broke more records. Federal Reserve Board Chair Jerome Powell in a televised interview Wednesday said “little to alter the market’s view that…
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Tech stocks hit first all-time high since July
In this article SKYY IGV XLK CRM MRVL AAPL AMZN Follow your favorite stocksCREATE FREE ACCOUNT Yuichiro Chino | Moment | Getty Images Technology stocks powered to new highs on Wednesday as the tech-heavy Nasdaq Composite rallied 1% and investors poured into key software and megacap players. The Technology Select Sector SPDR Fund (XLK) advanced…
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Homebuyer demand for mortgages jumped 6%, as interest rates fell to the lowest level in over a month
Prospective buyers attend an open house at a home for sale in Larchmont, New York, US, on Sunday, Jan. 22, 2023. Tiffany Hagler-Geard | Bloomberg | Getty Images Potential homebuyers are responding to lower mortgage rates and a higher supply of homes for sale. That fueled mortgage demand last week, as consumers looking to refinance…
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UK uncovers vast crypto laundering scheme for gangsters and Russian spies
A UK-led operation has uncovered a multibillion-dollar money laundering scheme run out of London, Moscow and Dubai that enabled Russian spies and European drug traffickers to evade sanctions using cryptocurrency. The UK’s National Crime Agency said on Wednesday that its “Operation Destabilise” investigation centred on two companies — Smart and TGR — that acted as…
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Budget battle will key on bond market
”There has been a fairly persistent resistance to embrace fiscal sustainability,” said Jared Bernstein, the chairman of the Council of Economic Advisers at The White House. “The only way that changes is with a forcing event, and perhaps one of the few forces that could potentially discipline the Trump administration in this regard is the bond…
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South Korean president faces calls to step down
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. South Korea’s President Yoon Suk Yeol faced mounting calls for his impeachment on Wednesday after his failed attempt to impose martial law triggered the country’s worst constitutional crisis in decades. Opposition lawmakers called on him…
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Brightline wins Deal of the Year award
Brightline won The Bond Buyer’s 23rd annual Deal of the Year award for its $3.2 billion recapitalization that represents a transformative moment in U.S. infrastructure financing. As the largest private-activity bond issuance and first investment-grade debt for American high-speed rail, this transaction, which also won Deal of the Year in the Innovative Financing category, restructured…
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Art Cashin, New York Stock Exchange fixture for decades, dies at age 83
Art Cashin, UBS’ director of floor operations at the New York Stock Exchange and a man The Washington Post called “Wall Street’s version of Walter Cronkite,” has died. He was 83 and had been a regular on CNBC for more than 25 years. In the intensely competitive and often vicious world of stock market commentary,…
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This factor can get your mortgage application denied — even if you’re a high earner
Fotostorm | E+ | Getty Images If you need to get a mortgage to buy a house, make sure your finances are in order — especially your debt-to-income ratio. Your debt-to-income ratio is all your money debt payments divided by your gross monthly income. It’s the “number one way” lenders measure your ability to manage…
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South Korean parliament votes to block martial law
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. South Korea’s conservative president Yoon Suk Yeol has declared martial law, accusing the left-wing bloc that controls the national assembly of North Korean sympathies and plotting rebellion. Yoon, a hardline former chief prosecutor, said in…
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More conservative Texas Legislature tees up bills for 2025 session
Texas Gov. Greg Abbott touts a state-funded education savings account program at a parent empowerment day event at the state capitol in March 2023. After the program failed to pass that year, he vowed another push in 2025 and campaigned for pro-voucher legislative candidates.Texas Governor’s Office Texas is gearing up for its 2025 legislative session…
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Tesla loses bid to restore Musk’s record $56bn pay package
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A judge in Delaware rejected Tesla’s attempt to restore Elon Musk’s record $56bn pay package after previously striking it down as a breach of the fiduciary duty of the electric-car maker’s board, dealing a blow…
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