Reminder: US markets are closed for Labor Day

Recent headlines about slowing AI spending and volatile tech stocks miss a bigger story. The U.S. power grid isn’t ready for what’s coming. That was the message from speakers on a July 27 webinar sponsored by SS&C ALPS Advisors. Key Takeaways: U.S. electricity demand is set to grow faster than at any point in decades….

Only one unit remains in a brand new luxury tower overlooking New York City‘s beloved Bryant Park. The 88-floor, 100-unit 520 Fifth Avenue is down to its final available condo, 44A, after a string of sales, says its listing agent Christopher Sadoux with the sales team at Corcoran Sunshine. Last year, the team took home the…

Munis were mixed on Friday, as U.S. Treasuries cheapened and equities ended mixed. Processing Content Tax-exempt issuance for the week of Aug. 17 is projected to be nearly double the same week last year, J.P. Morgan analysts, led by Peter DeGroot, wrote. Next week will be a “record week for [alternative minimum tax] offerings,” the…

According to Reuters, the American figure has more than doubled from US$19.95tn when US President Donald Trump was first sworn in during January 2017, with roughly one-third of that increase tied to COVID-19 pandemic borrowing under Trump and former president Joe Biden.   Congress’s Joint Economic Committee calculates US debt has grown by about US$7.9bn a day over the past…

Another rough 12-month stretch for active portfolio managers is giving advisors even more reasons to present themselves as something more than stock pickers and emphasize expertise in tax planning and other services. Processing Content In the year leading up to June 30, only 27% of active managers of large-cap stocks — shares of companies with…