Municipal bonds experienced fluctuations in certain areas as the week’s final major releases unfolded, with municipal bond mutual fund flows demonstrating retail participation and high-yield bonds consistently outperforming the broader investment-grade market. Uncertainties surrounding inflation expectations and potential rate cut timings prompted pressure on U.S. Treasuries, as economic data and Federal Reserve statements gave market
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Dan Loeb’s Third Point hedge fund made significant moves in the technology sector during the first quarter of the year, signaling a high level of confidence in further gains. The fund opened a stake valued at over $450 million in Alphabet, while also increasing positions in Amazon and Meta Platforms. These strategic investments reflect Loeb’s
Under Armour, the athletic apparel retailer, has been facing some major challenges with a significant drop in sales in its largest market, North America. Sales plummeted by 10%, leading to a prediction of even worse trends in the current fiscal year. Additionally, the company witnessed a staggering decline in profits, with a more than 96%
The recent softer U.S. consumer inflation readings have had a significant impact on Asian currencies. The dollar weakened to a one-month low, prompting traders to increase their bets on a potential September interest rate cut. This led to gains in most Asian currencies, although some regional units were held back by soft economic data and
Baupost’s Seth Klarman is known for his keen eye for opportunities in the market, and the first quarter of this year was no exception. Klarman made strategic moves by adding several artificial intelligence-linked stocks to his portfolio. One notable addition was Outbrain, a web recommendation platform that utilizes AI predictions to enhance web services for
The House Committee on Transportation and Infrastructure is facing uncertainty regarding how much the federal government can contribute to the reconstruction of the Francis Scott Key Bridge, originally financed by bonds. Following the collapse of the bridge, President Biden expressed his intention for the federal government to cover the entire cost of the reconstruction. This
Interactive Brokers (Nasdaq: NASDAQ:IBKR) has recently expanded its offerings in the United Kingdom by introducing cryptocurrency trading to its platform. This new addition allows both individual and institutional investor clients of Interactive Brokers (U.K.) Limited (IBUK) to trade a variety of crypto assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). With
Many state and local governments are currently facing a legal battle regarding the redemption or refunding of their Build America Bonds (BABs). These bonds, which were authorized as part of a stimulus program during the Obama administration, allowed issuers to sell taxable bonds and receive a subsidy from the federal government on the interest rates
Asian currencies showed signs of resilience against a weaker dollar on Wednesday, buoyed by market expectations regarding interest rates and key economic data. The Federal Reserve’s stance on interest rates, as articulated by Chair Jerome Powell, played a significant role in shaping market sentiment. While the dollar weakened in Asian trade, the overall outlook for
In a surprising turn of events, AMC Entertainment, alongside GameStop, experienced a surge in its stock price following a post by “Roaring Kitty,” also known as Keith Gill, who inspired the massive short squeeze of 2021. This online activity led to AMC shares more than doubling since Friday’s close, reaching above $6 in afternoon trading