Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is former chief of MI6 and UK Ambassador to the UN Iran was wrongfooted by Hamas’s October 7 assault on Israel. Tehran hadn’t been consulted and the operation risked pulling Iran into a
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple’s revenue returned to growth during the holiday period, beating analysts’ expectations with a boost from its services division and solid iPhone sales, but ongoing concerns about declining sales in China made investors wary. Apple’s
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Municipals rallied Thursday as the Triborough Bridge and Tunnel Authority doubled the size of its deal to $1.6 billion while muni mutual funds saw inflows hit nearly $1.5 billion. U.S. Treasury yields fell and equities improved. Muni yields were bumped two to 12 basis points, depending on the curve, while UST yields fell six to
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Federal Reserve held interest rates at a 23-year high on Wednesday, but gave little immediate indication of when it would begin cutting borrowing costs this year. The Federal Open Market Committee’s decision to
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The Federal Reserve announced it will leave interest rates unchanged Wednesday, setting the stage for rate cuts to come — and paving the way for relief from the combination of higher rates and inflation that have hit consumers particularly hard.  Although Fed officials indicated as many as three cuts coming this year, the pace that they trim interest
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January issuance was up year-over-year as positive market momentum from yearend, growing capital needs, tighter credit spreads and planning for dwindling federal stimulus dollars prompted issuers to come to market. January’s total volume rose 16.1% to $27.928 billion in 474 issues from $24.056 billion in 497 issues in 2023. Issuance for the month is slightly
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk’s $55bn pay package from Tesla has been voided by a Delaware judge, who ruled that the unprecedented remuneration was improperly approved by the electric-car maker’s board of directors and had short-changed the company’s
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Municipals were slightly firmer Tuesday as new-issues from the New York Thruway Authority and the Massachusetts Development Finance Agency’s Children’s Hospital were well-received. U.S. Treasuries were mixed as were equities ahead of the Fed rates decision Wednesday. Triple-A yields were bumped one to four basis points, depending on the curve, while UST saw yields fall
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The IMF has warned UK chancellor Jeremy Hunt against cutting taxes, arguing the country needs to curb public borrowing and prioritise spending in areas such as health, education and tackling climate change.  Pierre-Olivier Gourinchas, IMF
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