Farmers and Merchants Bancshares, Inc., the parent company of Farmers and Merchants Bank (FMFG), announced that net income for the six months ended June 30, 2024 was $2,298,496, or $0.74 per common share, compared to $3,570,968, or $1.16 per common share, for the same period in 2023.
The Internal Revenue Service and Treasury Department have released final regulations updating required minimum distribution rules for beneficiaries under the 10-year rule. These regulations, stemming from the SECURE and SECURE 2.0 Acts, confirm that most IRA beneficiaries must take distributions annually over the 10-year period following the account holder?s death, according to thinkadvisor.
The new-issue calendar is at $9.7 billion the week, led by the Texas Transportation Commission with $1.7 billion of first-tier and second-tier revenue refunding bonds.
State DOT procurement practices impact project costs, according to the latest study to tackle the persistent question of why U.S. infrastructure costs are higher than those of other countries.
After exhausting $2.5 million in just two months in 2023, the Federal Home Loan Bank of Indianapolis is relaunching the HomeBoost Down Payment Assistance Program with double the allocation this year ? $5 million to help with down payment, closing and counseling costs for minority and first-generation first-time homebuyers.
Public pensions are averaging a significantly improved 80.6% funded ratio, but took on riskier investments to obtain higher returns, which would be problematic in a market correction.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the ?Neutral? zone on Thursday. U.S. stocks closed lower on Thursday, with the Dow Jones index falling more than 500 points during the session.
Global lenders and asset managers are increasingly exploring blockchain tech to issue and transfer traditional financial instruments, also known as tokenization of real-world assets.
Municipal bond mutual funds saw inflows as investors added $891.4 million to funds after?$775.3 million of inflows the week prior, according to LSEG Lipper.
Missouri this month kicked off construction on a major expansion of Interstate 70, financed with a mix of bonds, general revenue funds and some federal funding.
After exhausting $2.5 million in just two months in 2023, the Federal Home Loan Bank of Indianapolis is relaunching the HomeBoost Down Payment Assistance Program with double the allocation this year ? $5 million to help with down payment, closing and counseling costs for minority and first-generation first-time homebuyers.
Mortgage rates continued to trickle down this month, falling to 6.77%. The housing market continues its long-term movement to equilibrium, albeit slowly, as housing remains unaffordable for many Americans. The Data: According to a Freddie Mac report, the average 30-year fixed mortgage rate fell to 6.77% in the week ending July 17. This is lower than the 6.89% reading from the week ending July 11.
The Goldman Sachs Group, Inc.? shares are trading lower today. Goldman Sachs (GS) has developed a strategy by combining short-duration U.S. Treasury bonds, high-quality corporate bonds, and municipal bond ETFs.
Blackstone Inc. (BX) reportedly ramped up its investment activity to a two-year peak in the second quarter, anticipating the U.S. Federal Reserve?s impending interest rate cuts. The head of the private investment group based in New York informed the Financial Times that inflation appeared to be easing across its portfolio, including its substantial $336 billion property business.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.77 percent. "The 30-year fixed-rate mortgage fell to its lowest level since mid-March, dropping 12 basis points from last week,? said Sam Khater, Freddie Mac?s Chief Economist.
Recently, the SEC has focused its attention on disclosures related to artificial intelligence, including the use of machine-learning, generative models or algorithms, blockchain, and other similar emerging automated technologies, warning market participants of the risks associated with "AI-washing."
The European Central Bank kept its key interest rates unchanged at its July meeting, aligning with market expectations. The Governing Council did not provide specific guidance on future policy, stating they were ?not pre-committing to a particular rate path,? slightly chilling market expectations which are heavily betting on a September rate cut.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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