The municipal bond market remained relatively steady on Wednesday as some of the week’s largest deals were priced. The Investment Company Institute also reported over $1 billion in inflows into municipal bond mutual funds. This stability was reflected in U.S. Treasuries, which saw minimal changes across the yield curve. Additionally, equities closed down slightly at
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Polkadot, a promising blockchain platform created by Gavin Wood, has faced difficulties in building an active user base for its decentralized applications (dApps). Compared to leading platforms like Ethereum, Solana, and Avalanche, Polkadot has struggled to attract developers and users due to its complex ecosystem. Developers have found it challenging to navigate Polkadot’s Layer 0
Advocates for a national infrastructure bank have been hard at work, trying to gain support for a bill introduced by Rep. Danny Davis, D-Ill., that would establish one. During the Democratic National Convention, members of the National Infrastructure Bank Coalition made their case to delegates and other political figures. They emphasized the importance of a
Nvidia (NVDA) has undeniably been a key player in the AI-driven market rally that has unfolded over the last 18 months. Their dominance in the GPU market, which is essential for AI computation, has cemented their position as a leader in the industry. However, as the market becomes more attuned to the significant capital expenditures
Despite mortgage rates falling for the fourth consecutive week, there seems to be minimal impact on both current homeowners and potential homebuyers. The Mortgage Bankers Association reported only a slight 0.5% increase in mortgage application volume from the previous week. This lackluster response indicates that the decrease in mortgage rates may not be as enticing
The current state of the currency market is heavily influenced by the anticipation of a U.S. interest rate cut next month. The dollar remains weak against a basket of peers, with sterling trading at multi-year highs and the Australian dollar reaching an eight-month high. The recent data showing a slowdown in domestic inflation in July
After the market’s tumultuous sell-off in early August, pharmaceutical firm Eli Lilly emerged as a standout performer. With shares up nearly 19% in August alone and a significant 64% increase in 2024, the company’s trajectory is impressive. Notably, Eli Lilly hit a fresh 52-week high of $972.53 on August 22nd. Analysts are bullish on the
The housing market in the United States continues to show strength, with home prices reaching record highs despite the recent rise in mortgage interest rates. According to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, prices nationally were 5.4% higher in June compared to the same period in 2023. This represents a significant increase,
The transfer of ownership of the RFK stadium site from the federal government to the District of Columbia seems to be at a standstill, with various roadblocks preventing any progress. The focus on the upcoming election has left this crucial deal stuck just two yards in front of the goal line. The managing partner of
The recent imposition of Canadian trade tariffs on China has sent shockwaves through the Asian currency markets. Most Asian currencies weakened as investors grew increasingly concerned about the prospect of a full-blown trade war. The Japanese yen saw a rally, albeit limited, as safe-haven demand for the greenback also picked up due to geopolitical tensions