Citi’s Muni Exit Creates Liquidity Test If Downturn Hits Market
Wed, Apr 17, 2024 1:05 PM

Citi’s Muni Exit Creates Liquidity Test If Downturn Hits Market

A Flip by Shubhangi Gupta
Get it on Google Play
The recent departure of Citigroup Inc., a perennial top-10 underwriter of municipal debt, from that industry may eventually pose a challenge in the next muni downturn, said officials at two of the largest market participants. “We haven’t had an event that really presses on liquidity in the market in quite some time,” Sean Carney, head of municipal strategy at BlackRock Inc., said.

More great flips

Analyst updates SoFi stock outlook after earnings

Analyst updates SoFi stock outlook after earnings

What makes Anthony Noto run? We'll let him tell you in his own words."I honestly think I'm the kind of person that is driven by fear of failure rather than striving for success," the CEO of SoFi Technologies  (SOFI)  once said. "I tend to go to bed scared and wake up terrified."Related: Analysts reboot AMD stock price target ahead of earnings.

Open Flip
IMF $1.1 billion tranche to help Pakistan's economic stability: PM Sharif

IMF $1.1 billion tranche to help Pakistan's economic stability: PM Sharif

ISLAMABAD- The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3 billion standby arrangement with the IMF which it secured last summer to help avert a sovereign default.

Open Flip
Spotify's stock is surging — and its CEO is cashing out

Spotify's stock is surging — and its CEO is cashing out

Spotify CEO Daniel Ek.REUTERS/Lucas JacksonSpotify CEO Daniel Ek has sold $176.3 million worth of stock this year.The company's shares have leaped 60% year to date.Ek isn't the only tech luminary to cash out amid ballooning value. Daniel Ek, Spotify's cofounder and CEO, has sold $176.3 million worth of his stock in the streaming service this year as its shares continue to surge.

Open Flip

Join our Smart Investment Community

More than 1 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon