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Freddie Mac separately pegged the 30-year average at 7.28% for the week ending October 1, the highest since November 2023. The 10-year Treasury note, meanwhile, surged to 5.35% on Wednesday, a level not reached since 2002.  The yield has climbed nearly 60 basis points since late July, a run fueled by persistent inflation, rising energy costs,…

Amancio Ortega, the founder of the fashion retailer Zara, reportedly acquired the 51-story office tower at 1 N. Wacker Drive for about $550M, one of the priciest office deals in the country this year. Wikimedia Commons/TastyPoutine 1 N. Wacker Drive in Chicago Irvine Co. sold the more than 1.4M SF office property to Ortega’s family…

Preview: China trade data due today, a beat could firm up AUD as a demand proxy trade !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}

The nation’s two largest private prison owners and operators are cashing in on the federal government’s decision earlier this year to back off its plan to buy warehouses and convert them into detention centers. Photo credit: Wikimedia Commons/Anthony Albright The Department of Homeland Security acquired the California City Correctional Center. The Department of Homeland Security…

Beach Boys star Mike Love has revealed the extraordinary lengths he went to preserve the natural beauty surrounding his sprawling $43 million Lake Tahoe estate, placing 6 acres of neighboring land under conservation protection to prevent future development. The 85-year-old musician, who put his longtime Nevada retreat on the market earlier this year, took several…

The muni selloff slowed on Tuesday, but yields continued to cheapen, as U.S. Treasuries were mixed and equities ended lower. Processing Content Muni yields were cut by up to 10 basis points, with the worst losses at the front of the curve and the long end little changed. UST yields were richer by up to…