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The municipal bond market has seen little change on Thursday, with U.S. Treasury yields increasing and equities closing lower. According to AllianceBernstein strategists, the technical picture this summer has been stronger in 2024 compared to the situation in 2023. Last year, the total returns for June through August were negative, with August wiping out the
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In July, closed sales of previously owned homes experienced a 1.3% increase compared to June, resulting in a seasonally adjusted, annualized rate of 3.95 million units. This marked the first rise in sales after five months of decline. Despite this improvement, sales were still 2.5% lower than the same period last year. The Northeast saw
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The weakening of most Asian currencies on Thursday was largely attributed to the rise of the dollar from its seven-month lows. This surge in the dollar was primarily driven by some bargain buying, which led to a temporary setback for Asian currencies. Traders, however, remained skeptical about the greenback due to the looming expectations of
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Paramount Global’s future is currently hanging in the balance as a competing offer from Edgar Bronfman Jr. has thrown a wrench into its merger agreement with Skydance. Initially offering $4.3 billion for Shari Redstone’s National Amusements, Bronfman has since upped his bid to a staggering $6 billion. The special committee overseeing the merger is now
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The recent release of employment data showing that employers added 818,000 fewer jobs in the year to March 2024 than previously thought has had a mixed impact on the dollar. Despite the unexpected numbers, the Federal Reserve’s decision on larger rate cuts in September remains relatively unchanged. The delayed release of the data led to
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Ford Motor recently announced a shift in its production plans, delaying the production of a next-generation all-electric pickup truck at a new plant in Tennessee and canceling plans for a three-row electric SUV. Instead, Ford will focus on developing hybrid models and electric commercial vehicles, such as a new electric commercial van in 2026, followed
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As the market continues to shift, dividends are poised to make a comeback. According to Bank of America, the contribution of dividends to total market returns is expected to increase significantly in the coming years. This shift comes as the Federal Reserve begins to decrease rates and bond yields begin to decline. However, investors should
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