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Constructive secondary trading and an active primary pushed triple-A muni yields lower on the back of a U.S. Treasury flight-to-safety rally after Federal Reserve Chair Jerome Powell acknowledged for the first time that it was “certainly a possibility” the U.S. economy may face a recession as the Fed continues to contend with inflation. “Inflation has
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Municipals were little changed Tuesday as U.S. Treasuries sold off on the long end and equities rallied. Triple-A benchmarks have remained steady over the past several trading sessions following the massive volatility at the start of last week. The majority of the losses happened last Monday and Tuesday traders and investors were trying to get
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Distributed ledger technology (DLT) and blockchains including Bitcoin and Ethereum may be more vulnerable to centralization risks than initially thought, according to Trail of Bits.  The security firm on Tuesday released its report titled “Are Blockchains Decentralized?”, which was commissioned by the U.S. Government’s Defense Advanced Research Projects Agency (DARPA). The report aims to investigate
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Moody’s Investors Service boosted Denver International Airport’s bond ratings a notch ahead of a $1.84 billion sale for its current capital plan. The senior revenue bond rating was raised to Aa3 from A1 and the rating on subordinate revenue bonds was upgraded to A1 from A2, affecting about $5.2 billion of outstanding debt.  “The ratings
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The municipal bonds that helped finance the nation’s second largest mall are showing signs of wobbling. The American Dream mall in East Rutherford, New Jersey, was delayed for years, then opened shortly before the COVID-19 pandemic. On June 3, the trustee for $800 million of bonds said in a notice posted on the Municipal Securities
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Deutsche Bank has updated its recession forecast. The bank’s economists now see “an earlier and somewhat more severe recession” than previously predicted. “The Fed has undertaken a more aggressive hiking path, financial conditions have tightened sharply and economic data are beginning to show clear signs of slowing,” said the economists. Deutsche Bank’s Recession Forecast Deutsche
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