Hints and tips:
...Gil Castello Branco of Contas Abertas, an NGO that scrutinises the public accounts, linked the looser rules with municipal elections due in October....
.... +12.6% in FY 2023) in state general funds, which likely means a small decline in real terms....
...They are currently limited to £450mn in borrowing for the 2023-24 period and can only have £3bn in total debt, though this will rise in line with inflation each year under terms agreed with the Treasury...
...Job moves Calpers private equity head Yup Kim is leaving the US’s largest public pension fund to become chief investment officer of the Texas Municipal Retirement System....
...At one point, Gorewar delights the crowd by haranguing a group of municipal electricity workers to improve local service....
...If you want municipal bonds from Vermont, you could probably do a BlackRock fund for that. Michela Tindera And that part of their business has been really successful....
...Within minutes of meeting, Jaising makes it clear that, as a woman in her eighties with limited years left, she does not plan on biding her time, nor biting her tongue....
...The administration intends to fund extra spending with increased revenue collection....
...Interest rates on normal bank accounts are notoriously slow to rise when the Fed hikes, so higher-yielding short-term Treasuries and money-market funds have started to draw depositors away from bank accounts...
...As for Treasury MMFs that do not have access to the Fed’s ON RRP program (we estimate there are about 25 of these funds), their options are more limited in terms of how they could manage their liquidity....
...It also shut two US municipal money market funds with combined assets of $3bn due to limited supplies of short-term securities issued by municipalities in Pennsylvania and New Jersey....
...Oppenheimer calls this the “modern cycle”....
...Even Treasury bill liquidation risks cannibalising normally dependable short-term funding....
...Recall the causal argument: An inverted yield curve is when short-term interest rates are higher than long-term rates. Banks fund themselves at short rates and lend at long rates....
...spree is “limited in time and size”....
...“Initially we saw a lot of interest around a limited number of [ESG] names that performed pretty well,” said Colin Rusch, analyst at Oppenheimer....
...However, it’s fair to say that the choice of pure-play North- or Midlands-focused listed companies is limited. For funds it’s worse....
...Other industries, from cement to petrochemicals, have argued that the rally could starve them of funds to invest in decarbonisation....
...funds, which experienced great trouble back in March....
...Mr Gorman said the limited overlap between the two firms would help the integration of the merger succeed....
...While Goldman Sachs has some of Wall Street’s punchiest forecasts for the coming year, Mr Oppenheimer admits that the longer-term outlook is murkier, given heftier debt burdens, which he believes will over...
...several years to leave on ‘no-deal’ terms....
...I am increasingly convinced that the Federal Reserve will have to break a political logjam and make much larger amounts of short-term credit available to the states on highly concessionary terms....
...That is, someone in the mould of the current mayor, Bill de Blasio, who is limited to serving two terms....
...But there are huge opportunities for New York, in terms of public health, in terms of good-paying jobs,” he says....
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