A recent court decision by Judge Stephen Bough of the U.S. District Court for the Western District of Missouri has struck down a pair of year-old Missouri investment rules that regulated “non-financial” investment advice from broker-dealers and investment advisors. This ruling has sparked controversy and debate among various stakeholders in the financial industry. The court
Utah voters are facing a significant decision on November 5th regarding two major bond propositions totaling $1.237 billion. The Salt Lake City School District Board of Education has put forth a plan to seek $730 million in bonds for various construction projects, including the rebuilding of high schools, the construction of an athletic field house,
The recent selloff in the U.S. Treasury market has created pressure on municipals, but they managed to outperform their taxable counterparts. This outperformance can be attributed to investors flocking to equities in a risk-on trade due to better economic data. As a result, triple-A yields rose moderately, whereas UST saw significant losses on the short
The underwriting spreads for all bonds have witnessed a significant surge in the first half of 2024, reaching beyond $7 for the first time in 25 years. This increase has been notable, with spreads rising to $7.11 in the first half of 2024 from $3.70 in the same period in 2023. Furthermore, spreads on negotiated
Tennessee has taken a bold step towards modernizing their transportation infrastructure by introducing the concept of “Choice Lanes”, funded by municipal bonds. This revolutionary approach marks a significant shift from the state’s traditional method of paying for highways using already collected funds. In April 2023, lawmakers in Tennessee passed the Transportation Modernization Act, which focuses
Alaska Airlines flight attendants have rejected a new labor deal that would have provided immediate raises averaging more than 24%. This decision was announced by their union, setting the stage for further negotiations between the two parties. The union had previously reached a tentative agreement with the company in June, which was described as a
Billionaire hedge fund manager Bill Ackman recently made headlines when he unveiled a new stake in sports apparel company Nike. This move was disclosed in a securities filing by Ackman’s Pershing Square Capital Management, revealing that they owned more than 3 million shares of Nike at the end of June, valued at approximately $229 million.
Recently, BofA Securities analysts have shed light on the Swiss National Bank’s (SNB) intervention in the foreign exchange markets, with the aim of weakening the Swiss franc (CHF) amidst market turmoil. This intervention comes as the Real Effective Exchange Rate (REER) has rebounded from its year-to-date decline, putting pressure on the SNB to ease monetary
Coinbase, a leading cryptocurrency exchange, has recently been revealed to hold a staggering $52 billion worth of Bitcoin, positioning it as the top holder of BTC with over 4.3% of the total supply, according to Arkham Intelligence. This significant revelation raises questions about the implications of Coinbase’s massive Bitcoin reserves, particularly in relation to the
On Wednesday, municipal bonds saw improvement as focus shifted to the primary market. Chicago entered the market after a delay to price its general obligation bond deal, alongside deals from the Triborough Bridge and Tunnel Authority, the Pennsylvania Turnpike Commission, and the Las Vegas Valley Water Department. This positive movement came on the heels of