Municipals sold off Friday with losses of up to 18 basis points, with the damage felt across the curve, and the 30-year triple-A yield closed just shy of 4%. U.S. Treasuries ended mixed after the 10-year rose to levels not seen since 2007 earlier in the session, and the reversal led to an equity rally
Hackers took over the official Twitter account of crypto exchange Gate.io, putting over 1 million users at risk of losing funds to an ongoing fraudulent Tether (USDT) giveaway. Social media platform Twitter serves as the most effective medium to reach the crypto community. As a result, the trend of hacking into official Twitter handles of
S3 Studio | Getty Images Check out the companies making headlines in midday trading. Snap — Shares of the Snapchat parent company cratered 28.1% after it missed revenue estimates and saw its slowest sales growth since going public as advertising spending slows. The results from Snap hit other ad-reliant stocks, sending shares of Pinterest and
The 10-year Treasury yield in the United States rose to its highest level since 2008. Although this type of rally is usually negative for risky assets, the U.S. stock markets recovered ground after the Wall Street Journal reported that some officials of the Federal Reserve were concerned about the pace of the rate hikes and
Ikea is the iconic Swedish furniture brand known for its low prices, flat-pack shipping, and tiny screwdrivers. Millions of people have braved the maze-like big box store searching to furnish their first apartment or simply to find affordable Scandinavian home furnishings. But the Ikea bubble may have burst because the brand’s rock bottom prices have
Real estate broker Rebecca Van Camp places a “Sold” placard on her sign in front of a home in Meridian, Idaho, on Wednesday, Oct. 21, 2020. Darin Oswald | Tribune News Service | Getty Images Existing homes are selling at the slowest pace since September 2012, with the exception of a brief drop at the
On Friday, October 21, a malicious entity siphoned 30,437 OHM tokens from the Olympus DAO after finding a loophole in the rebase project’s smart contract. Following the exploit, the blockchain security and data analytics company, Peckshield, detailed the hackers stole close to $300K in OHM tokens. Hacker Exploits Smart Contract’s ‘BondFixedExpiryTeller’ Parameter, $292,000 in OHM
A shift in the municipal bond buyer base away from mutual funds might mean an uptick in borrowing costs for states and local governments and a more credit-focused investment strategy. Massive mutual fund outflows this year of around $100 billion means issuers have “lost their prime funding mechanism,” said Tom Doe, president and managing partner
Investors and some Conservative MPs took fright on Friday as Boris Johnson considered running for a second stint as UK prime minister, with warnings that he risked triggering further political and economic chaos. Johnson’s allies are scrambling to secure the 100 nominations needed from Tory MPs to enter Monday’s ballot to replace Liz Truss, who
Municipals were weaker as mutual fund outflows continued, while U.S. Treasuries extended their selloff and equities ended in the red. Triple-A yields rose one to three basis points, with the larger losses out long, while UST yields rose eight to 10 basis points across the curve. Muni-UST ratios fell with the three-year at 65%, the
In this article CL Follow your favorite stocksCREATE FREE ACCOUNT Daniel Loeb Simon Dawson | Bloomberg | Getty Images Dan Loeb’s Third Point has built a sizeable stake in consumer giant Colgate-Palmolive, according to CNBC’s David Faber. Loeb sees hidden value in Colgate’s subsidiary, Hill’s Pet Nutrition, a pet food company, if it were spun
In this article IBM ALL T NVDA TSLA DDOG KMI Follow your favorite stocksCREATE FREE ACCOUNT Elon Musk looks at a robot display during a tour of the new Tesla Motors auto plant, formerly operated New United Motor Manufacturing Inc. (NUMMI), in Fremont, California, U.S., on Wednesday, Oct. 27, 2010. Bloomberg | Bloomberg | Getty
The New York Times NYT profiled older storm victims facing an uncertain future after Hurricane Ian. The featured picture was an older couple with their arms around each other, comforting each other. The reporter then disclosed that the couple was unable to rebuild the lives they had enjoyed for 20-plus years in their adopted state
In this article CZR SLG Follow your favorite stocksCREATE FREE ACCOUNT Video slot machines at Caesars Palace in Las Vegas, Nevada. George Rose | Getty Images Developer SL Green Realty is working with casino operator Caesars Entertainment on a bid to bring a casino to New York’s Times Square, the companies announced Thursday. The partners
Three not-for-profit health systems cut the number of ratings they pay for amid a backdrop of strained operating conditions with margins squeezed by sector-wide expense pressures. SSM Health and OSF Healthcare System in the Midwest and Scripps Health in California all confirmed their decision to drop Moody’s Investors Service in emails. SSM and Scripps published
Video: Liz Truss resigns as UK prime minister Rishi Sunak, former chancellor, has emerged as the early favourite to become Britain’s next prime minister, after Liz Truss terminated a 44-day premiership marked by economic and political turmoil. Truss’s resignation made her the shortest-serving prime minister in Britain’s history; her time in Number 10 will be
Bondholders and insurers of Puerto Rico Electric Power Authority revenue bonds are defending what they say is their lien on the authority’s revenues. The parties filed a 73-page defense Monday in an adversary complaint in the PREPA bankruptcy on the lien issue. Their defense responds to an Oversight Board complaint submitted Oct. 3 that said
The past eighty days have been moderately bearish for cryptocurrencies as the altcoin market capitalization declined by 16%. The downside movement can be partially explained by the United States Federal Reserve’s quantitative tightening, rising interest rates and the halting of asset purchases. Although they are aimed at curbing inflationary pressure, the policy also increases borrowing
Chamath Palihapitiya, Social Capital Founder and CEO CNBC A new buyback tax has motivated more and more SPAC sponsors to close up shop before the year-end, adding another headwind to the blank-check space already roiled by a tough market environment. A total of 27 SPAC deals, worth $12.8 billion, have been liquidated this year, according
In this article GNRC NFLX ISRG UAL IBKR WGO Follow your favorite stocksCREATE FREE ACCOUNT The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. Dado Ruvic | Reuters Check out the companies making headlines in midday trading. Generac — Shares were trading down 25.3% after the company
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