The muni market is currently experiencing lighter trading volumes with steady yields, reflecting the overall economic uncertainty and risk aversion. Despite U.S. Treasuries showing slight weakness and mixed equities, the muni-to-UST ratios have held steady throughout the day. This stability in ratios indicates a cautious approach among investors, possibly due to the ongoing economic concerns
Darden Restaurants recently disclosed mixed quarterly results, with Olive Garden’s same-store sales declining for the second consecutive quarter. This news comes as a disappointment, especially considering the overall performance of the restaurant chain. While Darden managed to beat analysts’ expectations in terms of earnings per share ($2.65 adjusted versus $2.61 expected), the revenue fell short
Broadcom, a once-obscure chipmaker based in Palo Alto, California, has recently experienced a remarkable surge in its market capitalization. The company’s market value is now trailing closely behind Warren Buffett’s conglomerate, Berkshire Hathaway. Despite its humble beginnings, Broadcom has established itself as a key semiconductor supplier for tech giants such as Apple and Google, making
The U.S. dollar saw a slight increase in value on Thursday, with sterling moving lower ahead of the upcoming Bank of England policy-setting meeting. The Dollar Index, which monitors the greenback against multiple other currencies, rose by 0.2% to 105.122, approaching the previous week’s peak of 105.80. This rise in the U.S. currency followed the
The cryptocurrency market has been experiencing a resurgence in popularity, prompting fund managers to introduce new products to cater to investor demand. One such development is the launch of the VanEck Bitcoin ETF on Australia’s main stock market, the Australian Securities Exchange. This marks a significant milestone in the cryptocurrency investment landscape and demonstrates the
Zeek, a decentralized collaboration network, recently completed a seed funding round of USD 3M from investors like OKX Ventures, Animoca Brands, and Mask Network. They plan to revolutionize social collaboration in the SocialFi space using reputation mechanisms and NFT collections. However, upon closer inspection, there are several aspects of Zeek’s project that raise questions and
In a recent development, the omnichain tokenization protocol Holograph has announced a technical partnership with web3 cybersecurity specialist Halborn. This collaboration aims to address a recent security incident where a malicious attacker was able to mint the native Holograph token, HLG. Halborn has been brought onboard to conduct regular audits and enhance the security of
The British pound remained stable ahead of the rate decision from the Bank of England (BoE) on Thursday. Investors were eagerly awaiting any guidance on the potential start of an easing cycle, although the BoE is expected to keep rates unchanged. Despite British inflation reaching its 2% target in May, underlying price pressures indicate that
SynFutures, a prominent DeFi derivatives protocol, has recently revealed its plans to broaden its reach to Base, Coinbase’s L2 network. This strategic move marks a significant milestone for SynFutures as it aims to provide users with unique trading opportunities and support vibrant community-driven projects. The expansion to Base underscores the protocol’s commitment to growth and
Recent data shows that despite a drop in mortgage rates, consumer response has been lackluster. Mortgage application volume increased only by 0.9% compared to the previous week, indicating a muted reaction from consumers. The average contract interest rate for 30-year fixed-rate mortgages decreased, but the refinance demand dropped by 0.4% for the week. However, it