Municipal bonds were steady for the eighth straight session Friday as U.S. Treasuries were slightly better and stocks rose after Consumer Price Index data came as expected, though the highest since 1982. “U.S. stocks rallied after the latest inflation report did not come in as hot as many were expecting. Wall Street did not see
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The long-standing mayor of Miami Francis Suarez has now announced plans to take a part of his 401(k) payout in Bitcoin (BTC) just a month after he started receiving salary in BTC. Soon after becoming the first United States lawmaker to accept a part of his salary in Bitcoin, Suarez wants to dedicate a part
This Gordon Kaufmann-designed home on L.A.’s Westside has deep roots in local history. One of the first properties ever built in Bel-Air, the trophy estate dates to the 1920s when contracting and engineering company owner Arthur S. Bent and his wife Eliza commissioned the architect to design their new home. At the time, the London-born
David Paul Morris/Bloomberg via Getty Images Inflation grew at its fastest clip in almost four decades last month — and rising costs are hitting the biggest areas of household budgets. Inflation measures changes in the price consumers pay for goods and services. It jumped 6.8% in the year through November 2021, the largest annual spike
Turmoil at the Los Angeles Department of Water and Power, including a former general manager’s guilty plea to felony bribery, should not affect its Kroll Bond Rating Agency ratings. LADWP holds Kroll’s AA-plus rating on its water system revenue bonds and AA on its power system revenue bonds. The outlook on both ratings is stable.
Federal Reserve Chairman Jerome Powell attends the House Financial Services Committee hearing on Capitol Hill in Washington, U.S., September 30, 2021. Al Drago | Reuters In the coming week, the Federal Reserve could decide to speed up the end of its bond-buying program and signal that 2022 is the year it expects to start hiking
Brian Mayhew stepped into his job before the turn of this century, taking on fiscal responsibility for a set of bridges that urgently needed upgrades to protect them against California’s earthquakes. More than two decades and many billions of dollars in debt later, he will retire as chief financial officer of the San Francisco Bay
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Bad news for Evergrande Even after all the regulatory crackdowns, China isn’t letting 2021 slip away without a few more blows to the
The Ross Ulbricht Genesis non-fungible token (NFT) collection auction has come to an end and the auction winner was the “Free Ross DAO,” backed by the Pleasrdao project. The NFT collection raised 1,446 ether or $6.27 million at the time of settlement. Free Ross Decentralized Autonomous Organization Wins Ross Ulbricht’s NFT Auction, DAO Plans to
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Homeowner Equity Report for the third quarter of 2021. The report shows homeowners with mortgages—which account for roughly 63% of all properties—have seen their equity increase by 31.1% year over year, representing a collective equity gain of over $3.2 trillion, and an average
Rupert Murdoch and Jerry Hall attend the RHS Chelsea Flower Show press day at the Royal Hospital Chelsea on May 23, 2016 in London, England. Max Mumby | Getty Images Entertainment | Getty Images Media mogul Rupert Murdoch and his wife Jerry have paid around $200 million to buy a massive Montana working cattle ranch
Most traders have noticed that Ether (ETH) price has seriously outperformed Bitcoin (BTC) for months now and the ETH/BTC ratio has rallied more than 230% in 2021 and recently hit a new high at 0.089 BTC on Dec. 9. To put things in perspective, Ether’s $490 billion market capitalization currently represents 54% of Bitcoin’s $903
Municipal yields held steady for the seventh session in a row in light trading Thursday as the Dormitory Authority of the State of New York’s $2.5 billion of competitive loans were the focus while U.S. Treasuries made gains and equities were mixed on heightened Omicron concerns. Triple-A yield curves were little changed on the day
In this article .DJI CNBC’s Jim Cramer said Tuesday the market’s snapback has taken many investors off guard, and it’s being fueled by the rush to get back into stocks as emerging evidence indicates that the omicron Covid variant might not be as serious as first thought. “I think this caught a lot of people
In this article GME LCID AAL BA CVS People walk by a CVS Pharmacy store in the Manhattan borough of New York City. Shannon Stapleton | Reuters Check out the companies making headlines in midday trading. CVS — Shares of the drugstore chain jumped 3.8% to hit a 52-week high after the company said sales
Despite issuers’ hopes, a compromise defense bill passed by the House Tuesday night failed to include a provision allowing for expanded use of pandemic relief funds. The provision, which the Senate passed in October as standalone legislation, likely won’t be taken up this year, though some supporters continue to hold out hope. The legislation would
While border closures resulting from COVID have slowed Australian property sales to international buyers, experts predict that the luxury market may perk up in 2022 as travel restrictions relax and ex-pats return to the country. “Travelers from New Zealand and Singapore who are inoculated against Covid-19 will be able to enter New South Wales and
A real estate agent shows a home to a prospective buyer in Miami. Getty Images A brief drop in mortgage rates, due to the first news of the omicron variant, caused mortgage refinance demand to rise dramatically last week. But it will likely be short-lived. The rate drop wasn’t all that dramatic when looking at
The roller coaster ride that is the cryptocurrency market continued its volatile ways on Dec. 8 as Bitcoin (BTC) price briefly slipped below the $49,000 level. Despite the setback, there are still clear signs that crypto mass adoption is taking place, a prime example being Visa’s announcement the it will launch crypto consulting and advisory services
Secondary trading saw an uptick and some pressures emerged on munis, but benchmark yield curves were little changed to weaker by a basis point in spots, again outperforming taxables. U.S. Treasuries slid further with the largest rise in yields on the long bond, and equities made gains after a mixed open. ICE Data Services and