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Traders Bet on No More Fed Hikes, US Two-Year Yields Plunge

2023-03-13T09:04:50-05:00March 13th, 2023|

Treasury bonds surged, pushing key two-year yields to their lowest level this year, as investors bet the collapse of three US lenders will compel policymakers to halt interest-rate increases. Swaps now show a less than one-in-two chance that the Federal Reserve will implement another quarter-point hike this cycle. Yields on two-year Treasury notes — the most sensitive to changes in policy — fell as much as 60 basis points to less than 3.99%, the lowest since October. Source: Bloomberg

Goldman Sachs no longer expects the Fed to hike rates in March, cites stress on banking system

2023-03-13T08:45:41-05:00March 13th, 2023|

Goldman Sachs no longer sees a case for the Federal Reserve to deliver a rate hike at its meeting next week, citing "recent stress" in the financial sector. Earlier Sunday, U.S. regulators announced measures to stem contagion fears following the collapse of Silicon Valley Bank. Regulators also closed Signature Bank, citing systemic risk. "In light of the stress in the banking system, we no longer expect the FOMC to deliver a rate hike at its next meeting on March 22," Goldman economist Jan Hatzius said in a Sunday note. The firm had previously expected the Federal Reserve to hike rates by 25 [...]

Investors rush into bonds, gold in flight to safety after SVB rescue

2023-03-13T08:44:35-05:00March 13th, 2023|

Investors flocked to safe-haven assets such as Treasurys and gold on Monday amid an extraordinary plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank. The benchmark 10-year Treasury yield fell nearly 20 basis points to 3.50%, touching the lowest level since Feb.3. The 10-year rate last traded around 3.54%. The yield on the 2-year Treasury tumbled more than 40 basis points to 4.16%, also the lowest in over five weeks. Yields move inversely to prices and one basis point equals 0.01%. The iShares 20+ Treasury Bond ETF jumped 1.6%.... Investors sought safety as banking regulators rushed to [...]

City of Admire receives funding for multiuse court

2023-03-12T23:27:41-05:00March 12th, 2023|

The City of Admire is planning to build a pickleball, basketball and tennis court, thanks to $30,000 in funding from Blue Cross and Blue Shield of Kansas as part of Healthier Lyon County’s Pathways to a Healthy Kansas grant. The City of Admire worked with the Healthier Lyon County Coalition to assess the active infrastructure environment at the Admire City Park including tobacco-free grounds policies, making the City eligible for implementation funding. The City of Admire has been prioritizing community health by working hard to make improvements to the city park, most recently adding a disc golf course. The City park [...]

Wichita Public Schools chooses its next superintendent from within district ranks

2023-03-12T23:26:54-05:00March 12th, 2023|

Kansas’ largest school district has named its next superintendent. At a Friday special meeting, the Wichita school board chose Kelly Bielefeld to replace Alicia Thompson in July. Bielefeld, who has been the district’s executive director of college and career readiness since 2020, has also served in teacher, principal and assistant superintendent roles in the Clearwater, Derby, Renwick and Goddard districts. “Since coming to Wichita Public Schools in 2020, he has supported secondary schools with visionary college- and career-ready leadership, written and administered federal grants and created our future-ready center in cooperation with WSU Tech,” board President Sheril Logan said. Source: Local [...]

Douglas County District Court to transition to statewide case management system; electronic payments, filings will be affected for a few days

2023-03-12T23:20:05-05:00March 12th, 2023|

Douglas County District Court will soon transition to a new case management system, which will temporarily disrupt the processing of online payments and electronic court document filings, according to a news release from the state judicial branch. The court will begin switching over to the Kansas eCourt centralized case management system at 4 p.m. on March 29, and the new system is expected to be up and running by April 3, according to the Office of Judicial Administration’s news release on Friday. Courts will remain open during the transition, but attorneys will only be able to file documents on paper and [...]

City of Lawrence to use pandemic aid to support shelter’s capacity increase; 98 of 125 beds will be overnight only

2023-03-12T23:19:27-05:00March 12th, 2023|

In an indicator of the closer relationship between the City of Lawrence and the Lawrence Community Shelter, the city plans to use a portion of its pandemic aid to pay additional staffing costs for the shelter to expand its capacity to 125 people. The city announced Thursday that beginning March 13, the day after the city’s winter emergency shelter at the Community Building in downtown Lawrence is set to close for the season, LCS’ capacity will be increased to 125 people. Assistant City Manager Brandon McGuire said Friday that the city would be providing staff and resources to support the increased [...]

Dollar stores face local pushback

2023-03-12T22:57:53-05:00March 12th, 2023|

More communities are turning away from the prospect of a dollar store opening up in their town. In a report published by the Institute for Local Self-Reliance, researchers said more than 70 cities and towns have already blocked new projects from chain dollar stores and 50 cities have enacted laws to limit the discount retailers’ plans for expansion. ... “In cities, it is common to find dollar stores clustered by the dozen within certain neighborhoods. In rural towns, they typically locate near the only grocery store, and often succeed in wiping it out,” the report said. “One might assume that the [...]

Saline County supports broadband, housing rehabilitation projects with federal aid

2023-03-12T22:54:41-05:00March 12th, 2023|

This winter, Saline County residents have been able to apply for a housing weatherization program that aims to help reduce overall costs of utility payments in the colder months of the year. The program was partly funded through American Rescue Plan Act monies, and a recent allocation could help the organization continue to help families after the initial allocation is expended. A partnership between Saline County and the Community Housing Development Organization of Central Kansas (CHDO) to provide rehabilitation and weatherization to area homes was envisioned to be a two-part project. In addition to $500,000 already approved for home rehabilitation under [...]

Picking up the pieces as Hutchinson paper mill closes

2023-03-12T16:51:32-05:00March 12th, 2023|

Although the Sonoco Hutchinson Paper Mill closed its doors on Monday, leaving workers perplexed as to the swiftness of it, community members and local and regional businesses are posting on the Hutchinson job board, asking these newly let go workers to apply. In addition, the Siemens Gamesa Hutchinson plant is slowly starting back up. Source: Hutch News

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