A shareholder at a securities hall in Hangzhou, the capital of Zhejiang province in east China, on Sept. 24, 2024. Cfoto | Future Publishing | Getty Images China stocks rallied to their best day in 16 years, with related U.S. ETFs also soaring after recent economic stimulus buoyed investor optimism in the market. The Shanghai
Night scene of Singapore’s Toa Payoh district Chanachai Panichpattanakij | Moment | Getty Images Singapore’s private home prices fell for the first time in five quarters amid depressed sales, preliminary market data showed on Tuesday. The data released by the Urban Redevelopment Authority showed that its private home price index fell 1.1% last quarter as
On Monday President Joe Biden addressed the nation about the federal response to Hurricane Helene and signaled he would ask Congress for supplemental disaster funding. “That’s my expectation,” he said. He also hinted at calling lawmakers back into session to help deal with the emergency. “That is something I may have to request. No decisions
In this article 2202-HK 688-HK 960-HK Follow your favorite stocksCREATE FREE ACCOUNT A man walks past a housing complex by Chinese property developer Evergrande in Guangzhou, China’s southern Guangdong province on September 17, 2021. Noel Celis | Afp | Getty Images Shares of Chinese property developers rallied on Monday after major cities in mainland China
Austria’s far-right Freedom party scored a historic victory in the country’s parliamentary election on Sunday, with the result consolidating pro-Russian, anti-establishment forces in central Europe. The FPÖ was projected to win just under 29 per cent of the ballots cast, according to a near final official estimate of the vote late on Sunday, bolstering the
Warren “Bo” Daniels, managing director and head of public finance for Loop Capital, will take over as chair of the Municipal Securities Rulemaking Board Oct. 1, bringing a three decade career to an organization set to take major steps forward in the coming year. Jennie Bennett, associate vice president for finance at the University of
The Louisiana Bond Commission approved the sale of $620 million in aviation revenue bonds and $220 million in sales tax bonds and modified conditions for up to $1 billion in gas and fuels tax bonds it previously authorized. The commission consented to the sale of up to $575 million in general airport revenue refunding bonds
Georgia’s weakening economy and the long-run impact of recent tax cuts are concerns, credit analysts say, albeit ones the state’s triple-A bond ratings may ride out successfully. The state’s unemployment rate has gone up for four consecutive months, according to the U.S. Bureau of Labor Statistics. The GOP-dominated state government has been cutting the top
Almost every state has cut taxes over the past few years, but as the economy returns to normal, budget shortfalls are starting to emerge. “The past few years have been dominated by tax cuts,” said Richard Auxier, a principal policy associate in the Urban-Brookings Tax Policy Center. “From 2021 to 2023, 48 out of 50 states
A sign is posted in front of a home for sale in San Rafael, California, on Aug. 7, 2024. Justin Sullivan | Getty Images A steady decline in mortgage rates to two-year lows has current homeowners rushing to take advantage of potential savings. Applications to refinance a home loan surged 20% last week compared with
A Missouri government is the latest to offer government support — funded through municipal bonds —to revive a moribund mall. But developer River City Centre’s plan for West Park Mall in Cape Girardeau, a city of 40,500 along Interstate 55 about midway between St. Louis and Memphis, breaks with the current trend of converting malls
The House last week passed a package of bills aimed at curbing the use of environmental, social and governance factors in retirement investment decisions and limiting Securities and Exchange Commission climate-related disclosure rules. The bills were part of what the GOP dubbed an “anti-woke week” on the Hill. The legislation has little chance of advancing
Jason Akers got hooked on public finance early. The National Association of Bond Lawyers’ new president was fresh out of school, working for a large Southeast firm, when one of its bond lawyers took him under his wing. “I enjoyed the interaction with public officials, helping to make their ideas reality,” Akers told The Bond
Kentucky’s issuer rating was upgraded to Aa2 from Aa3 and the outlook changed to stable from positive by Moody’s Ratings. The move follows upgrades by Fitch Ratings in May 2023 and by S&P Global Ratings in June 2023. The agency upgraded to Aa3 from A1 $4.4 billion of general fund appropriation backed debt and to
Moody’s Ratings lifted Oklahoma’s issuer rating a notch to Aa1 with a stable outlook on Wednesday, citing the state’s strong fund balances, low leverage, and conservative budget management. The upgrade is the first for Oklahoma since Moody’s, Fitch Ratings, and S&P Global Ratings revised their outlooks for the state to positive from stable beginning last
A Major League Soccer stadium in Frisco, Texas, will undergo bond-financed renovations under an agreement approved Tuesday by the city council. The Frisco Community Development Corp. will issue up to $182 million of sales tax revenue bonds for the Toyota Stadium project, which must commence by Dec. 31, 2025, and be completed by the end
On Tuesday, former President Trump announced support for lifting the cap on the State and Local Tax deduction, a move which has wide support from municipal bond issuers. Trump made the announcement via his Truth Social network as part of a personal post saying, “I will turn it around, get SALT back, lower your taxes,
Coal-fired electric generation is buffeted by market and regulatory forces, but bond investors in one Missouri utility’s coal-plant refinancing should be insulated, analysts say. The Missouri Electric Commission this week is issuing $105 million of power project revenue refunding bonds to refund bonds it issued in 2014 for the Plum Point Energy Station in Osceola,
An Oregon American Indian tribe is suing the U.S. Bureau of Ocean Energy Management over its approval of coastal leases for offshore wind projects. The Confederated Tribes of Coos, Lower Umpqua and Siuslaw Indians filed the suit Friday in U.S. District Court in Eugene against the ocean energy bureau, accusing it of violating two federal
California’s massive size and tax structure has long given it municipal bond market protection against credit challenges like its well-known tax revenue volatility. The state government’s strengths, providing relatively liquid paper through high volume in a specialty state with high marginal tax rates, often outweigh its credit weaknesses for investors. But massive deficits during the