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Supply surge led by blockbuster deals from New York, D.C.
Municipals were mixed to close out a quiet summer Friday session ahead of a larger new-issue calendar that sees several billion-dollar deals. Triple-A benchmark yields once again largely ignored a selloff in U.S. Treasuries after a robust jobs report indicated the Federal Reserve will likely hike interest rates another 75 basis points at its next…
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Johnson allies accuse Sunak of treachery
Rishi Sunak, who quit as Boris Johnson’s chancellor this week, launched his bid to lead the Conservative party on Friday with a pledge that he will avoid “comforting fairy tales”. His video to launch his campaign appeared a coded attack on what many MPs have seen as the prime minister’s Panglossian approach to policy. “Someone…
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Reconciliation budget talks revive hopes for muni market agenda
As Senate Democrats work to revive a reconciliation spending package, municipal bond lobbyists hope for a fresh opportunity to push through the federal muni agenda. Sen. Chuck Schumer, D-N.Y., has reportedly been negotiating for weeks with Sen. Joe Manchin, D-W. Va., about the terms of a spending package that would advance President Joe Biden’s agenda…
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EU-regulated firm Banking Circle adopts USDC stablecoin
Banking Circle, a European bank focused on cross-border payments, is adopting a major U.S. dollar-pegged stablecoin for payment rails. The firm officially announced on Friday the adoption of the USD Coin (USDC) on its platform as a payment acceptance, processing and settlement method. The new payment feature is enabled as part of Banking Circle’s new…
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Stocks making the biggest moves premarket: Levi Strauss, GameStop, Twitter and more
In this article OXY SAVE UPST GME TWTR LEVI Check out the companies making headlines before the bell: Levi Strauss (LEVI) – Levi Strauss rallied 3.9% in the premarket after reporting better-than-expected sales and profit for its latest quarter, helped by higher prices and strong demand for its denim offerings. Levi Strauss also raised its…
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The Great Appreciation Of Home Prices Is Now Over
All of the real, inflation-adjusted U.S. home price appreciation from 1990 to 2021 was due to falling interest rates, at least according to this simple analysis. U.S. mortgage rates may never go lower than they were last year so the multi-decade Great Appreciation of house prices is now over. Decades of Falling Mortgage Rates In…
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Villas by the sea: Rich Russians fleeing sanctions are pumping up Dubai’s property sector
Dubai is seeing its hottest real estate market in years, with sales in the sector up 45% year on year in April and 51% in May, according to the Dubai Land Department. DUBAI, United Arab Emirates – The team at Dubai property firm Mira Estate have reason to celebrate. The luxury real estate company just…
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The risks and benefits of VCs for crypto communities
Traditional venture capital funds drive valuations through multiple funding rounds. Startups aim for initial public offerings or other exits. Then the sharemarket decides upon a more realistic valuation. But in cryptoland, tokens introduce market capitalization while a company is being built. This means there are a lot of competing interests and agendas. Token sales for…
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Constellation Brands Trading Lower After Earnings
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How will NFTs bridge traditional gaming with blockchain? Enjin’s CTO Witek Radomski explains
When it comes to nonfungible tokens, or NFTs, the subject is often a hit or miss for traditional gamers. While some players welcome the idea of being able to trade in-game digital collectibles for real money, others lament that NFTs could potentially take away the inherent entertainment built within games. So can NFTs contribute any…
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Munis stay in own lane; Denver airports, NY MTA price
Municipals were steady to firmer in secondary trading Thursday as a large airport revenue bond offering from the City and County of Denver, Colorado, and the Triborough Bridge and Tunnel Authority’s MTA deal took the focus. Municipals continued to ignore the movements of U.S. Treasuries, which saw yields rise for the second day, while equities…
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Johnson bows to pressure and quits after days of turmoil
Boris Johnson has announced his “painful” resignation but defied pressure to step down immediately as prime minister, insisting he would remain in office until a new Conservative party leader is chosen. In an address in front of No 10 Downing Street, after days of turmoil and mass resignations from his government, he accused his party…
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Planning for a rainy day: NYC unveils stormwater action plan
Calling climate change New York City’s biggest environmental threat, Mayor Eric Adams released a plan Thursday that aims to help the Big Apple prepare for extreme rainfall in the future. “While we continue to invest in resiliency and infrastructure projects to protect us for generations to come, the Rainfall Ready NYC action plan will help every New…
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Stocks making the biggest moves premarket: GameStop, Seagen, Virgin Galactic and more
In this article SAM BBBY VIVO SPCE SGEN GME Check out the companies making headlines before the bell: GameStop (GME) – GameStop rallied 7.8% in the premarket after the videogame retailer declared a 4-for-1 stock split. Trading on a split-adjusted basis will begin on July 22. Seagen (SGEN) – Seagen gained 4.5% in premarket trading…
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Texas Housing Market Report Halfway Through 2022
Facing record-high year-over-year rates of inflation, the Fed has been trying to combat it with a series of rate hikes that many Americans haven’t seen in decades. Rising mortgage rates have certainly had an impact on housing markets in the United States, with the number of home sales nationally declining by 7.4%, from 636,507 home…
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Rising mortgage rates are hitting Americans’ wallets. Here’s how to adjust your housing budget
Lifestylevisuals | E+ | Getty Images Homebuyers are feeling the squeeze of rising mortgage rates. On top of that, housing prices remain high. That may lead many to rethink their budget. “As mortgage rates go up, it raises the cost of buying a home with a mortgage,” explained Danielle Hale, chief economist at Realtor.com. “For…
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Crema Finance Hacker Negotiates With Defi Project’s Team, Returns $8 Million in ETH and SOL
Following the hack on July 2, 2022, the team behind the decentralized finance (defi) protocol Crema Finance detailed that after some negotiation, the hacker returned roughly $8 million in crypto assets. According to the team, the hacker agreed to take a white hat bounty worth 45,455 solana. Hacker Returns $8 Million in Crypto to Crema…
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Munis stronger, ignore UST selloff
Municipals rallied Wednesday, ignoring a selloff in U.S. Treasuries, after the Federal Open Market Committee meeting minutes reiterated the Fed’s position it would raise rates 50 to 75 basis points at its July meeting to stave off inflation. Equities ended slightly up.. Municipals were in their own lane Wednesday and triple-A yields fell four to…
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Johnson sacks Gove as even allies tell him ‘game’s up’
Boris Johnson’s turbulent three-year premiership was nearing its end on Wednesday night after he was urged to quit by a delegation of his closest cabinet allies. The UK prime minister was warned that unless he stepped down there would be further cabinet resignations, followed by an inevitable humiliating defeat by Tory MPs in a no-confidence…
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Australia’s world-leading crypto laws are at the crossroads: The inside story
As crypto winter sets in once more, industry players in Australia, one of the world’s most crypto-friendly nations, watch closely for a shift in the regulatory climate. Anthony Albanese, the new Australian Labor Party prime minister, has made regulating crypto a top priority. However, neither he nor his cabinet has given a clear indication of…
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