Bonds

Nine mayors from across the country backed House Speaker Nancy Pelosi’s call for Congress to approve both the Infrastructure Investment and Jobs Act and the $3.5 billion budget reconciliation package. The same number of moderate Democrats in the House came out Thursday against Pelosi’s approach, saying the House shouldn’t delay passage of the bipartisan infrastructure
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Municipal bonds were little changed to slightly firmer on the short end Friday after a week in which the longer end of the yield curve brought yields back to early July levels, with pressure from more supply and a weaker U.S. Treasury market. UST yields reversed their negative course with the 10-year falling seven basis
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Forward delivery bonds have already surpassed their annual record for issuance as issuers use the tool, along with taxable refundings, to replace the loss of tax-exempt advance refundings. Forward delivery bonds are attractive to both issuers looking for savings and investors seeking any incremental yield in an uber low-rate environment, Barclays PLC said in a
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The nation’s largest underwriters of municipal bonds will soon begin operating under a Texas law that bans them from state contracts if their policies are said to discriminate against the firearms industry. Senate Bill 19, one of several pro-gun pieces of legislation signed into law by Gov. Greg Abbott, takes effect Sept. 1. The law
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With the sale of state and local government securities already suspended, Congress appears headed to yet another showdown over the debt limit. Senate Budget Committee Chairman Bernie Sanders, I-Vt. and Senate Majority Leader Chuck Schumer, D-N.Y., on Monday released a fiscal 2022 budget resolution that does not include an increase to the United States’ borrowing
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Municipal market participants question the wisdom of executing Puerto Rico’s bankruptcy without local legislative approval for new bonds and instead relying on court-approved debt, as the Oversight Board is exploring. New bonds are key to Puerto Rico’s exit from bankruptcy, as are cuts to Puerto Rico’s three main pension systems: the Employees Retirement System, Judicial
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Cain Brothers, a division of KeyBanc Capital Markets Inc., has hired Kyle Hemminger as it looks expand its healthcare practice. Hemminger joined the healthcare public finance group in the Columbus, Ohio, office this month as a director to cover healthcare and senior living organizations nationally. He joins a healthcare team that now totals 23 professionals
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Videos of floodwater in upper Manhattan went viral last month as storms flooded New York’s streets with four inches of rain. While subway commuters waded through waist-high water at 157th Street, water cascaded down the Dyckman Street subway station, home to the Metropolitan Transportation Authority’s A line. “These videos are a reminder of more dramatic
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Municipals struck a firmer tone on the short end Tuesday as the new-issue calendar got underway, with strong competitive loans, while U.S. Treasuries held steady and equities strengthened into the afternoon. Triple-A benchmark yield curves were bumped on the short end as bonds inside of 10 years have been more tightly bid. Municipal-to-UST ratios were
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Federal Reserve Governor Christopher Waller said that if the next two monthly U.S. employment reports show continued gains, he could back an announcement soon on scaling back the central bank’s bond purchases. “I think you could be ready to do an announcement by September,” Waller said Monday in an interview on CNBC. “That depends on
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Puerto Rico net General Fund revenues came in 3.1% ahead of projections in May. The Puerto Rico Department of the Treasury said through the first 11 months of fiscal 2020-2021, net revenues were ahead by 1.14%, at $10.2 billion. The Treasury Department’s actual figures are compared to the Puerto Rico Oversight Board’s projections. Puerto Rico
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