Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Until this week, the UK economy looked increasingly set for a smooth “soft landing”, with inflation dropping sharply and early signs of growth picking up. But data releases in the past few days have added
Two public finance professionals helped craft legislation that added whole categories of residential care facilities to the list of borrowers eligible to issue debt through the California Health Facilities Financing Authority. Assembly Bill 839, authored by Assemblymember Dawn Addis, D-Morro Bay, and signed by Gov. Gavin Newsom in October, allows nonprofits that operate independent living,
Stay informed with free updates Simply sign up to the Private equity myFT Digest — delivered directly to your inbox. Private equity executives are predicting a sharp increase in takeover activity as buyout firms that have held on to investments in the hope of higher prices finally begin to capitulate. There has been a marked
Municipals were weaker Thursday amid another busy new-issue day while municipal bond mutual funds reported inflows. U.S. Treasuries yields rose and equities were up near the close. Muni yields rose up to eight basis points, depending on the scale, while UST yields rose up to six basis points at 30 years. The two-year muni-to-Treasury ratio
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK chancellor Jeremy Hunt has signalled he wants to cut taxes further in the coming months and left open the possibility of holding two Budgets ahead of this year’s general election. Hunt said on Thursday
Georgia Gov. Brian P. Kemp’s proposed amended fiscal 2024 and fiscal 2025 budget includes spending some of the surplus revenue the state has taken in on capital projects rather than issuing bonds this year. The state is estimated to have about $11 billion in surplus cash in its coffers, according to the state Department of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Pakistan carried out a pre-dawn attack on suspected militant bases in Iran on Thursday, a retaliatory strike that threatened to escalate tensions after Iran attacked a jihadi group in Pakistan this week. Pakistan’s foreign ministry
Municipals faced rising yields in the secondary market Wednesday while large new-issues priced in the primary market. U.S. Treasuries were weaker again, and equities saw more losses. The Investment Company Institute Wednesday reported large inflows into municipal bond mutual funds for the week ending Jan. 10, with investors adding $2.066 billion to funds following $77
Rishi Sunak’s election supremo Isaac Levido this week issued a stark warning to Tory MPs, telling them: “Divided parties fail.” But the Conservative rebellion over the government’s Rwanda asylum bill over the last 48 hours is an ominous sign for the prime minister that the warning is not being heeded. Tory MPs may have pulled
A home is constructed at a housing development on June 21, 2023 in Lemont, Illinois. Scott Olson | Getty Images Homebuilder sentiment improved in January, jumping 7 points to 44 on the National Association of Home Builders monthly index. Anything below 50 is still considered negative, but the index has now moved 10 points higher
The state of Wisconsin is embarking on a flurry of debt-related activity as the year begins, with a cash defeasance and three refunding deals that may include tenders on the table in the first quarter. The defeasance was made possible by the state’s 2023-25 biennial budget, which included $400 million to pay down outstanding general
Prospective home buyers visit a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. The pressures come as President Joe
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK inflation unexpectedly accelerated in December raising questions over how soon the Bank of England will start cutting interest rates. Consumer prices rose at an annual rate of 4 per cent in December, up from
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Two deputy Conservative party chairs quit on Tuesday as Rishi Sunak suffered the biggest revolt of his premiership, with 60 rebel Tory MPs attempting to force him to toughen up his Rwanda legislation. Lee Anderson
Munis were slightly weaker to start the holiday-shortened ahead of several large new issues, but the asset class outperformed U.S. Treasuries on the day. Equities saw losses. Muni yields were cut up to four basis points, depending on the scale, while UST yields rose eight to 11 basis points. Munis have “struggled to get out
Former U.S. President Donald Trump arrives to speak to the press after attending the civil fraud trial against the Trump Organization in New York State Supreme Court, in New York City on Jan. 11, 2024. John Lamparski | AFP | Getty Images The top court in New York State on Tuesday rejected an appeal by
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 9, 2024. Brendan Mcdermid | Reuters The crystal ball is cloudy this year my friends. In the past it was easier to come up with my annual list of predictions, even if it turns out I was wrong. Heading
Dubai’s property boom in the years following the Covid-19 pandemic has been one of the fastest in the world, fueled by investor-friendly reforms and a surge in expat demand, particularly from Russia in the wake of the start of Moscow’s full-scale war with Ukraine. Some of Dubai’s luxury developments cater specifically to Russian buyers, with
With a sharp decrease in revenue growth expected in fiscal 2025, New Mexico Gov. Michelle Lujan Grisham proposed a $10.5 billion spending plan that she said maintains hefty reserves that help cushion state coffers from volatility in the fossil fuel industry, which generates tax and other revenue. “Here’s my promise to New Mexicans in future
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Fujitsu will contribute to the compensation of sub-postmasters affected by the Post Office Horizon scandal, according to the head of its European division. Paul Patterson said there was a “moral obligation for the company to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump is expected to win the first ballot of the 2024 presidential race, as voters in Iowa gather on Monday night for caucuses that will set the pace for the Republican campaign for the
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