The municipal bond market was steady Thursday amid the pricing of several new issues, including a low-rated Guam Waterworks $134 million deal. Despite the market’s recent firmness, however, a real sense of caution is coming into play. Some sources say the municipal market needs to begin pricing in downside risk from the coronavirus-led revenue losses
Closed signs hang on a fast food restaurant amid the coronavirus pandemic on April 24, 2020 in New York City, United States. COVID-19 has spread to most countries around the world, claiming over 196,000 lives with over 2.8 million cases. (Photo by Alexi Rosenfeld/Getty Images) Alexi Rosenfeld A type of loan for small businesses impacted
People wait on a long line to receive a food bank donation at the Barclays Center on May 15, 2020 in the Brooklyn borough in New York City. The event was organized by Food Bank for New York City and included dairy and meat items. Stephanie Keith | Getty Images Nearly 4 million people came
Unica asking $100 million Hilton & Hyland The impact of Covid-19 has seemingly set in motion a sudden trend of discounts at the very top of the country’s most expensive real estate markets. Most notably, billionaire Travis Kalanick, former Uber UBER CEO, purchased Los Angeles’ Bellagio Estate for $43.3 million, after it sat on the
A car dealer wearing a protective mask walks through the showroom at a Ford Motor Co. car dealership in North Brunswick, New Jersey, U.S, on Wednesday, May 20, 2020. Angus Mordant | Bloomberg | Getty Images Wealthy consumers plan to pull back on their spending, despite seeing little impact from the pandemic on their incomes
Not-for-profit hospitals suffered a record-setting blow to margins as their balances sheets bore the full brunt of the COVID-19 pandemic’s impact, according to a report. Hospital operating margins before interest, taxes, depreciation, and amortization tumbled by 174% over the same period last year and fell 118% from March, hit by the steep drop in elective
The SpaceX Crew Dragon spacecraft for Demo-2 inside the company’s hangar at NASA’s Kennedy Space Center. SpaceX SpaceX is set for its most important milestone yet, in a launch that may well define the future of the U.S. space program. Elon Musk’s company plans to launch a pair of NASA astronauts on Wednesday — the
Pedestrians pass in front of a Nordstrom Inc. store in the Midtown neighborhood of New York, on March 20, 2020. Gabby Jones | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Nordstrom – Shares of the retailer surged more than 12%, making it the top-performing stock in the S&P 500,
Landlords are offering more sub-six-month leases in response to economic uncertainty. Getty As uncertainty rules in real estate, one segment that has been seeing growth is the market for short-term rentals. Landlords in New York City and across the country are offering more flexible rental options in response to demand from renters facing unclear economic
A realtor, at right, shows prospective buyers a property in Newport Beach, California. Jamie Rector | Bloomberg | Getty Images It’s not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster than expected. Mortgage applications to purchase a home rose
The Puerto Rico Oversight Board’s proposed plan to guide the island’s financial recovery has 65% less money available for paying debt service through fiscal 2032. Board Executive Director Natalie Jaresko said she expects the island’s central government to have $8 billion in surplus money through fiscal 2032, rather than the $23 billion the May 2019
The SpaceX Falcon 9 rocket and Crew Dragon capsule stand upright on the launchpad at NASA’s Kennedy Space Center ahead of the Demo-2 launch. SpaceX raised well over the $500 million it was seeking in its most recent funding round, filings with the Securities and Exchange Commission reveal. Elon Musk’s space company on Tuesday filed
The New York Stock Exchange trading floor, closed since March 23, is partially reopening on Tuesday. “I’m ready,” floor trader Jonathan Corpina of Meridian Equity Partners said. “We have been waiting a long time, we are prepared. Our customers are ready.” Corpina acknowledged some trepidation about returning, a feeling, he said, of “walking into the
Another positive vaccine development and progress with economic reopenings pushed the S&P 500 into an important new zone Tuesday that could be a bullish sign for the market longer term. The S&P 500 actually crossed two key milestones when it opened above the psychological level of 3,000 for the first time since early March. But more
First-time buyers are going to need more support in the months and years ahead to help them onto the … [+] ladder. Getty The impact of COVID-19 on the housing market as a whole, and on the buying power of first-time buyers specifically, cannot be understated. Whilst the reopening of the property industry two weeks
The Annapolis Townhome model at Clarksburg Town Center on April 28, 2020 in Clarksburg Maryland. Benjamin C. Tankersley | The Washington Post | Getty Images In one of the brightest economic readings since the start of the coronavirus pandemic, sales of newly built homes rose nearly 1% in April compared with March, according to the
Seton Hall University plans to sell $103 million of bonds as it grapples with near-term fiscal challenges that triggered a rating downgrade. Moody’s Investors Service lowered the South Orange, New Jersey-based school to Baa1 from A3 Wednesday, citing the school’s constrained financial flexibility because of a rising debt burden. The outlook is stable. The Catholic
Bitcoin price fell by 9.8% last week, registering its most significant weekly decline since mid-March. The currency hit a two-week low of $8,630 early Monday, with prices last seen at $8,730—which is down more than 11% from a post-halving high of $9,960 on May 18. The recent price drop is, in turn, causing the number
Flags of the US and China are placed ahead of a meeting between US Secretary of Agriculture Sonny Perdue and China’s Agriculture Minister Han Changfu at the Ministry of Agriculture in Beijing on June 30, 2017. Jason Lee | AFP | Getty Images A bill that could force Chinese companies to give up their listings
A shopper shops in a Ross store in Lewiston, Idaho. Francis Dean | Corbis | Getty Images Check out the companies making headlines after the bell. HP Enterprise — The information technology company’s stock dropped 5% in extended trading after the company reported second-quarter earnings. HP Enterprise said it had earnings of 22 cents per
A Southampton beachfront house available Memorial Day to Labor Day. $500,000. 6,000 sq.ft. with 4 … [+] bedrooms, 4.5 bathrooms on .5 acres plus a pool. Town & Country Real Estate A friend called me the other day to ask what I knew about summer rentals in the Hamptons. I started to look online, and
A For Sale sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images The economic fallout from the coronavirus hit the housing market hard in April. Sales of existing homes fell 17.8% month-to-month, and were 17.2% lower than April 2019, seasonally adjusted, according to the National Association of Realtors.
The National League of Cities reports that 32 states are withholding federal funding to local governments that was approved under the CARES Act that was signed into law March 27. The survey completed May 18 found most municipal governments have received “no indication when, or if, funds will ever be made available,” the NLC said.
Jeff Lawson, CEO, Twilio Scott Mlyn | CNBC An index of cloud stocks developed by venture-capital firm Bessemer Venture Partners reached new highs this week as U.S. indexes still recover from the selloff that began in February. The BVP Nasdaq Emerging Cloud Index, established in 2013, is up about 31% for the year, while the S&P
Take a look at some of the biggest movers in the premarket: Deere (DE) – The construction equipment maker reported fiscal second-quarter earnings of $2.11 per share, compared to the consensus estimate of $1.62 a share. Revenue beat estimates as well. Deere said it expects global equipment sales to fall 30% to 40% this year
Giuliana Rancic at home with wrapped in an August & Leo throw blanket. August & Leo Giuliana Rancic is known for many things. Being a top entertainment news personality, breast cancer survivor, mom, and entrepreneur. Now, she’s diving headfirst into the world of furniture and decor, launching a line called August & Leo on HSN.
Ariana Lindquist | Bloomberg | Getty Images Retailers aren’t the only ones struggling to pay the bills. The biggest shopping center in the country, The Mall of America, has missed two months of payments on its $1.4 billion mortgage, a sign of just how much retail real estate owners are reeling during the coronavirus pandemic.
The municipal market saw yields fall by five to six basis points across the curve and strong secondary high-grade trades showed it. Municipals are poised to gain well over 2.5% for the month and return to positive territory for the year after being pummeled at the start of the coronavirus-led sell-off in March. According to
Sheraton Grand Sacramento Hotel Source: Sheraton Grand Sacramento Hotel A small firm is looking to make a change at a real estate investment trust, an area typically tough for activism. Company: CIM Commercial Trust Corp. (CMCT) Business: Real estate investment trust that primarily acquires, owns, and operate Class A and office assets in the United States. Stock market
The bronze statue “Fearless Girl” on Wall Street wears a respirator mask. Benno Schwinghammer | Picture Alliance | Getty Images Stocks are likely to hang on every medical development and the progress of state reopenings, but there will also be some key economic data in the coming week that should provide a glimpse into the
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