Busy Week for Muni Debt Sales Tests Investors Wading Into Market
A wave of municipal-bond sales scheduled for this week will test a recent rebound in buyer demand after investors sold their holdings during April's market rout.
Roughly $14 billion of muni debt is scheduled to come to market over the next five days, according to data compiled by Bloomberg. That is running about 70% higher than the average weekly volume over the last five years.
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Associated Press
34 minutes ago
- Associated Press
Versatile Jerar Encarnación returns to Giants after March surgery on his broken left hand
SAN FRANCISCO (AP) — Bob Melvin has been waiting for the chance to write Jerar Encarnación's name into San Francisco's lineup. The versatile Encarnación came off the 60-day injured list Monday and was available for the opener of a four-game series with the San Diego Padres at Oracle Park, though not yet in the starting lineup. Melvin hopes that he could start Tuesday — whether that's at first base or in right field. Encarnación underwent surgery in March on his broken left hand after he was injured trying to make a diving catch during spring training. He batted .302 with two home runs and 14 RBIs in Cactus League play after hitting .248 with five home runs and 19 RBIs in 113 at-bats last year. 'We know he can give us some power and he's got power to all fields,' Melvin said. 'We saw it at the end of last year, we saw it in spring training. When we were about to leave spring training there were going to be a lot of at-bats for him.' The Giants could use a big boost at the plate, and Encarnación hopes to deliver. 'I'm just going to do what I'm able to do to contribute to the team,' said Encarnación, a Dominican Republic native who made his major league debut with Miami in 2022 and joined the Giants as a free agent last May. The Giants optioned outfielder Luis Matos to Triple-A Sacramento so he can further develop and play regularly. San Francisco returned home having dropped five of nine games on its road trip to Washington, Detroit and Miami. The Giants entered Monday having scored only 30 runs over their last 14 games — the club's fewest in such a stretch since being limited to 28 runs from June 20-July 5, 2013. 'That's the good thing about him is he can play multiple positions, he can pinch hit,' Melvin said. 'It's nice to have him back. Spring training we were talking about how impactful he was going to be. He was having a great spring and next thing you know he's out for a while. He feels good at the plate, he hit some home runs the last couple days, he's ready to go.' Encarnación has been eager to rejoin the Giants, but embraced his faith and that it took the time it did for him to fully recover and come back. He missed the first 59 games, then made seven rehab appearances with Triple-A Sacramento last week, playing three games at first base, starting two as designated hitter and two more in right field. 'I'm so happy and content that I'm here,' he said, before adding with a smile a few minutes later that he's 'great, muy bueno.' ___ AP MLB:
CBS News
38 minutes ago
- CBS News
Florida restaurants must disclose automatic tips and fees under new law
Restaurants will have to make clear to customers upfront when they will be hit with automatic tips or service fees, under a bill signed Monday by Gov. Ron DeSantis. While the primary focus of the bill involved the removal of non-paying guests from hotels, the measure (SB 606) also will require notifications from "public food service establishments that charge an operations charge," which is an automatic fee other than a tax. The law, which will take effect July 1, requires notices of fees on menus, websites or mobile apps where orders are placed. Addressing hidden fees in dining Many restaurants already impose automatic tips or service charges for large parties. But the issue was pushed in the Legislature after Rep. Demi Busatta, a Coral Gables Republican who grew up in the restaurant industry, told a House panel in March that she had received a restaurant bill that had a service fee and a pre-set gratuity, along with a line to include a tip. "In Miami, we've seen a growing circumstance where all the restaurants are automatically including a 20 percent gratuity, or they're calling it gratuity or service charge or service fee or tip, not just on regular sitdown meals but on take-out as well at fast-casual establishments," Busatta said at the time. For restaurants that don't provide menus or such things as table service, the bill says notices "must appear in an obvious and clearly readable manner on the menu board or on an obvious and clearly readable sign by the register where the customer pays."
Washington Post
42 minutes ago
- Washington Post
Dave's Hot Chicken sold to Subway owner Roark Capital in a $1 billion deal
Dave's Hot Chicken said Monday it has been acquired by the private equity firm Roark Capital in a deal valued at $1 billion. Dave's Hot Chicken got its start in 2017 as a popup in a Los Angeles parking lot. It has grown exponentially since then and expects to end this year with 400 restaurants worldwide. The brand specializes in Nashville-style hot chicken. Investors in Dave's Hot Chicken have included the rapper Drake, who gives away hot chicken sliders every year on Oct. 24, his birthday. Atlanta-based Roark specializes in franchised businesses. It bought the Subway sandwich chain in 2023 and backs two holding companies that own multiple restaurant chains: Inspire Brands, the parent of Arby's, Dunkin', Jimmy John's, Sonic and Buffalo Wild Wings; and GoTo Foods, which owns Auntie Anne's, Carvel, Cinnabon and Jamba. Dave's Hot Chicken said its leadership team — including CEO Bill Phelps and the four childhood friends who founded the company — will remain and continue to lead menu innovation, food quality, operations and marketing. 'Our entire organization is excited about the fit between Dave's Hot Chicken and Roark, and we're looking forward to continuing to blow our guests' minds and unlocking growth and value for our franchise partners,' Phelps said in a statement.
