New York City mayoral candidate Zohran Mamdani’s primary win has banks with high exposures to rent-regulated real estate on edge. Mamdani, who has vowed to freeze rents on rent-stabilized apartments if he’s elected mayor, won over New Yorkers during the Democratic primary as their city’s housing market grows more expensive and competitive. The primary results […]
What a Mamdani mayoral win in NYC could mean for banks Read More »
A rally in short-dated Treasuries gathered pace Thursday after a raft of US economic data on balance favored wagers on as many as three Federal Reserve interest-rate cuts this year. Yields across maturities declined, with those on two-year notes falling five basis points and most reaching the lowest level in more than a month. The
Treasury rally gains steam as economic data fuels rate-cut bets Read More »
Andrew Harrer/Bloomberg The U.S. economy slowed faster than previously realized, according to the latest revision to the government’s gross domestic product estimate. Overall, the GDP’s rate of contraction was lowered by 30 basis points, from an annualized rate of -0.2% to -0.5%, according to the Bureau of Economic Analysis’ latest report, released Thursday. This is
First-quarter GDP revised lower; Fed has other data on deck Read More »