Jeremy Hunt pushed back on Friday against criticism that his £55bn fiscal squeeze unfairly targets middle earners, as new data indicated that UK workers will endure the longest period of wage stagnation for almost two centuries. Hunt’s Autumn Statement on Thursday included £30bn of spending cuts and £25bn of tax rises in a bid to
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Municipals improved again Thursday pushing the 10-year triple-A yield firmly below 3% while inflows into municipal bond mutual funds returned after 14 consecutive weeks of outflows. U.S. Treasuries saw losses and equities ended down after Federal Reserve officials tempered expectations of a slowdown in rate hikes. Triple-A yields fell by three to six basis points,
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Three municipal bond veterans with a combined experience of over 90 years are joining the ranks of independent investment bank Brean Capital LLC. William “Bill” Mangan, Greg Swanson, and John Paskalides, who have extensive industry knowledge and experience, will serve as managing directors in the fixed income division and will lead an expansion of the
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Jeremy Hunt, chancellor, confronted the fiscal “storm” battering Britain on Thursday, announcing £55bn of tax rises and spending cuts intended to restore the country’s reputation and shore up its frail balance sheet. Two months after Kwasi Kwarteng, Hunt’s predecessor, sparked market panic with a “mini” Budget that included £45bn of unfunded tax cuts, the chancellor’s
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In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Berkshire Hathaway Vice Chairman Charlie Munger spoke highly of Elon Musk’s electric vehicle company, Tesla, calling it an amazing feat in the American auto industry. “I was certainly surprised that Tesla did as well as it did,” Munger said in an interview with CNBC’s Becky Quick that
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Ninety percent of counties across the U.S. have experienced a flood, wildfire, hurricane or other federally declared climate disaster between 2011 and 2021, according to a report published Wednesday that calls for urgent investment in climate adaptation and hazard mitigation. During that same period, 29 states on average endured at least one federally declared disaster, according
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Municipals rallied across the yield curve Wednesday, outperforming U.S. Treasuries and seeing the greatest gains out long after stronger retail sales data signaled the Fed’s tightening is not yet over, pushing equities into the red. Retail sales increased 1.3% in October, slightly above the consensus forecast of 1.0% and a significant improvement from the flat
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The UK’s rate of inflation hit a fresh 41-year high in October, accelerating to 11.1 per cent on the back of rising energy and food prices. The Office for National Statistics said the rate rose from 10.1 per cent in September, putting inflation at its highest level since October 1981. Economists polled by Reuters had
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The crypto market is up today and Bitcoin (BTC) price jumped up 3.1% on Nov. 15 reaching $17,171, as confidence briefly returns to the global macro outlook with a lower-than-expected producer price index (PPI) print and a cooling U.S. dollar. Crypto and equities markets responded to PPI data which showed wholesale prices rose 0.2% for
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U.S. Congressman Brad Sherman has called on the Securities and Exchange Commission (SEC) to “take decisive action to put an end to the regulatory gray area in which the crypto industry has operated.” He added that he plans to work with his colleagues in Congress in the coming weeks “to examine options for federal legislation.”
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