As the month came to a close in 2024, the municipal market appeared relatively calm, with minimal activity ahead of the Fourth of July holiday-shortened week. Despite a new-issue slate totaling a modest $240 million, there were significant developments to observe on the sidelines. Munis demonstrated resilience compared to U.S. Treasuries, holding steady while government
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As we approach the end of the first half of 2024, it is clear that the stock market has seen significant gains. All three major indexes are poised to finish the first half with positive returns, driven by the ongoing artificial intelligence boom. The S & P 500 has surged by 15%, the Dow Jones
The recent announcements from Nike have left Wall Street in a state of shock and uncertainty. After a lackluster fiscal year and a disappointing quarterly report, Nike CEO John Donahoe is facing criticism and doubt about his leadership. The company’s projected sales decline of 10% for the current quarter is far worse than anticipated, causing
California is currently facing tax revenue shortfalls that are putting pressure on the state’s policy agenda under the leadership of Governor Gavin Newsom. In a recent State of the State speech, Newsom focused more on national politics rather than addressing the challenges within the state. The agreement reached on the budget and the $297.7 billion
Asian markets experienced a period of uncertainty on Friday as most Asian currencies struggled to break out of a tight range. The strength of the dollar, hovering near two-month highs, was a key factor influencing the currency markets. This strength in the dollar led to the weakening of the Japanese yen beyond levels that were
The municipal bond market saw minimal movement on Thursday, with the final large deals pricing and mutual funds experiencing outflows. U.S. Treasury yields decreased, while equities showed an uptick towards the end of the day. The ratios between municipal bonds and Treasury securities varied across different timeframes, highlighting the uncertainty in the market. Municipal bond
The House Committee on Transportation and Infrastructure, chaired by Rep. Sam Graves, has raised concerns about the sluggish pace at which the Department of Transportation is distributing funds allocated under the Infrastructure Investment and Jobs Act (IIJA). Despite receiving over $364 billion since the enactment of IIJA, the DOT has only obligated a little over
The financial industry is presenting positive signs of a potential comeback in Wall Street deals, as highlighted by Morgan Stanley analyst Andrei Stadnik. Completed mergers and acquisitions have seen a notable increase of 16% in the second quarter compared to the same period last year. This rise indicates a favorable landscape for asset managers, banks,
As we navigate through the real estate market in the midst of ongoing economic shifts, it is becoming evident that the heat surrounding home prices is beginning to dissipate. Recent reports indicate a decrease in the rate of price gains, hinting at a potential slowdown in the previously booming housing sector. While prices are still
Chinese automakers are making significant strides in expanding their presence in the global automotive market. A new report by AlixPartners predicts that Chinese automakers will capture 33% of the global market share by 2030, a considerable increase from their current 21% market share. The report suggests that much of this growth will come from markets