Month: July 2020

Fitch Ratings Friday revised the outlook to negative on the United States’ sovereign rating. The rating agency affirmed its AAA rating on the United States’ long-term foreign-currency and local-currency issuer default ratings while dropping the outlook from stable. Fitch Ratings revised its outlook on the United States’ AAA rating to negative from stable. Fitch said
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The Municipal Securities Rulemaking Board has designated its chief compliance officer as interim chief regulatory officer, almost a year after the resignation of its prior regulatory chief. The decision was made during a two-day quarterly MSRB board meeting this week to name Gail Marshall as interim chief regulatory officer. That position was previously held by
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As we roll toward the half-year mark of the COVID-19 pandemic, the effects on work, office space, and focus have been profound. Executives can now be found working out of what had been guest rooms, attics, or walk-in closets. The need to work in corporate offices, once considered indispensable, is now being rethought in its
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The Massachusetts Educational Financing Authority (MEFA) was created in 1982 by the Massachusetts state legislature. Its goal is to offer low-cost college financing options to undergraduate and graduate students.  MEFA is a non-profit, self-funded, and state-chartered student loan organization. It provides financial literacy programs, offers loan discharge in the case of student death or disability,
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July saw a total of $42.61 billion in municipal bonds sold, a staggering 41.3% higher than July 2019’s total, as issuers continue to flood the market with deals, specifically taxable muni transactions. Taxable bond volume increased 518.3% month-over-month to $16.13 billion from $2.61 billion in July of 2019. Year-to-date, taxable volume sits at $68.98 billion.
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Once again, Friday’s economic data offered a mixed picture, with consumer sentiment down, spending up and incomes lower, while the Chicago Business Barometer was at its highest since May 2019. The University of Michigan’s final consumer sentiment index for July slipped to 72.5 from the preliminary reading of 73.2 and June’s final reading of 78.1.
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Pre-covid, a table in an active adult community developer’s welcome center shows remaining inventory … [+] in various sections. Photographer: Patrick T. Fallon/Bloomberg BLOOMBERG NEWS Florida has had some well-publicized challenges lately, but homebuilders statewide are seeing a continued rebound of demand from buyers that surprises even them. Building company executives and owners I’ve spoken
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Rig hands move equipment at a hydraulic fracturing site atop the Marcellus Shale rock formation in Washington Township, Pennsylvania.Bloomberg News A new tax credit, a grand jury report, national election-year politics and regional bickering have revived debate over natural gas drilling, long a complex Pennsylvania political football. “It’s been a multi-faceted endeavor that’s affected a
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Lee Kiser is a multifamily expert, active broker and Principal of Kiser Group, Chicagoland’s leading mid-market multifamily brokerage firm.  getty There is a broad spectrum of commercial real estate types to consider when investing. When the economy shifts or crises occur, multifamily has consistently proven its resiliency, stability and predictability. Multifamily is doing so again during Covid-19
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Warren Buffett, chairman and CEO of Berkshire Hathaway David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway this week again added to his already-enormous stake in Bank of America at a time when the coronavirus pandemic dampens the economic outlook and interest rates hold near record lows. A Securities and Exchange Commission filing showed Buffett’s
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Wanda Group’s Chairman Wang Jianlin delivers a speech at China University of Political Science and … [+] Law on May 12, 2017 in Beijing, China. Visual China Group via Getty Images/Visual China Group via Getty Images Wang Jianlin’s conglomerate is offloading another overseas asset to reduce its debt. Wanda Hotel Development Co., a Hong Kong-listed
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Gross domestic product plummeted 32.9% in the second quarter on a seasonally adjusted annual basis, the largest decline since 1947, when records were first kept, the Commerce Department said, and an increase in the number of coronavirus cases could threaten a third-quarter recovery. Economists surveyed by IFR Markets had expected a larger 34.0% contraction. In
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Coronavirus stimulus may reduce the likelihood of an infrastructure bill passing in the next few months. That’s what some experts predicted during a Brookings Institution webinar on Thursday. Tracey Ross, director of federal policy and narrative at PolicyLink is confident that a federal infrastructure stimulus will pass by next summer, though others think it may
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