Denver voters will soon have the opportunity to vote on a sales tax hike on the Nov. 5 ballot. The proposed tax increase, set at 0.5%, aims to raise approximately $100 million annually. This additional revenue could be used to support bonds for affordable housing in the city, which has been facing a shortage of
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Federal Reserve Board Gov. Michelle Bowman recently expressed her reservations about the potential for an interest rate cut at the upcoming Federal Open Market Committee meeting. In her address to the Alaska Bankers Association, Bowman highlighted her concerns about the current level of inflation, which she described as “uncomfortably” high. She emphasized the need to
As investors mull over this week’s $12 billion new-issue calendar, a significant portion of the debt available is attributed to New York City. The $1.8 billion deal, the largest on the calendar this week, represents the latest offering from the city since its $1.2 billion refunding issuance in July. This substantial amount of debt indicates
Lowe’s, the home improvement giant, recently announced a cut in its full-year forecast due to a decline in quarterly sales and a projected weakening in spending on do-it-yourself projects. The company now expects total sales to range between $82.7 to $83.2 billion for the full year, falling short of its initial expectations of $84 billion
Analysts at Wells Fargo named Eli Lilly as a top pick, emphasizing improved supply and tailwinds from key drug trials as drivers for future growth. Despite the firm’s optimistic outlook and $1,000 per share price target, claiming more than 8% upside from the previous close, there may be some overestimation of the company’s growth potential.
The dollar has been under pressure in recent times, hovering near a seven-month low, as investors anticipate a potential rate cut by the U.S. Federal Reserve in the coming months. This speculation has been bolstered by the likelihood of interest rate reductions starting in September, with traders closely monitoring Federal Reserve Chair Jerome Powell’s speech
In a bold and strategic move, PEXX, an innovative fintech startup specialising in stablecoin cross-border payments, has announced the acquisition of Singapore-based blockchain media platform, Chain Debrief. This acquisition comes on the heels of a successful raise of $4.5 million led by TNB Aura and ANTLER, showcasing PEXX’s commitment to expanding its footprint and engaging
The municipal market saw a decrease in yields on Tuesday due to the primary market activity, while municipal bonds performed less well compared to the U.S. Treasury market amid positive movement in equities following favorable inflation data. The two markets experienced varying basis points movements, with the short end of the municipal curve displaying better
The recent fluctuations in the Japanese yen have raised concerns about the effectiveness of the government’s intervention strategies. The cat-and-mouse game between speculators and Japan’s authorities has led to a rollercoaster ride for the currency, with both highs and lows causing instability in the market. The question now is whether the government should rein in
Michael Saylor, the co-founder and chairman of MicroStrategy, recently caught the attention of the crypto community with a simple yet powerful message: “Behold Bitcoin.” This message comes at a time when the price of Bitcoin is consolidating around the $60,000 to $62,000 range, sparking speculation about its short-term trends. Despite this pause in price movement,