Michigan’s fiscal 2025 budget of $82.5 billion is set to include investments in roads and bridges, courtesy of the $700 million final tranche of Rebuilding Michigan Plan bonds. These bonds are expected to be issued later this year and will fund projects ranging from repairs to a key bridge in Erie Township, road work on
The article discusses how the rising U.S. yields have supported the dollar, putting pressure on low-yielding currencies such as the Japanese yen and China’s yuan. The benchmark 10-year Treasury yields saw a significant increase overnight, with analysts attributing this rise to the expectations of a potential Donald Trump presidency. This anticipation of higher tariffs and
Solciety, a cryptocurrency platform based in London, has taken the crypto world by storm by raising over $619,000 in just the first two weeks of its presale. This impressive feat can be attributed to the growing popularity of PolitiFi and Solana meme coins. With a strong community of over 15,000 followers on social media platforms
The recent fluctuations in the global market have had a significant impact on Asian currencies. While the dollar has been gaining strength, regional currencies have been facing downward pressure. Let’s delve deeper into the factors contributing to these changes and analyze the potential implications for investors and traders. The dollar’s recovery from recent losses has
The landscape of Manhattan real estate is experiencing a significant shift, with apartment prices falling and inventory levels on the rise in the second quarter of 2024. Reports from Douglas Elliman and Miller Samuel indicate that the average sales price for real estate in Manhattan has dropped by 3%, hovering just above $2 million. Additionally,
The article discusses how municipals were slightly weaker than usual but still outperformed U.S. Treasuries. Despite this, UST yields rose significantly, with the two-year UST rising up to 14 basis points. The muni-to-Treasury ratios were also analyzed, showing variations depending on the curve. The ICE Data Services provided slightly different ratios compared to the Refinitiv
The article highlights UBS’s reiteration of Apple as neutral, citing a decline in iPhone sell-through in China. This indicates a notable trend of decreasing market share for Apple in one of its key markets. The consecutive monthly decline in sales raises concerns about Apple’s competitive position and ability to attract and retain customers in the
In the second quarter, the digital assets landscape saw mixed performance, with crypto assets lagging behind more traditional assets, according to research by broker Canaccord Genuity. Despite the buzz around Bitcoin exchange-traded funds (ETFs), Bitcoin remained rangebound throughout the quarter, despite major events such as the Bitcoin halving and the SEC’s approval of spot Ethereum
The recent announcement of President Cyril Ramaphosa’s new coalition cabinet in South Africa has had a positive impact on the country’s currency. The South African rand rallied on Monday following the news, with the rand trading at 18.01 against the dollar, 1% stronger than its previous close. The inclusion of the leader of the former
Bitcoin price saw a rise on Monday, bouncing back from recent losses, although overall sentiment towards the token and the broader crypto markets continued to remain negative. The recovery, however, was not without its challenges due to the looming threat of a potential major liquidation event connected to the defunct Mt Gox exchange. The liquidators