Bonds

Municipals were little changed on light trading in the secondary again Wednesday as Illinois and Texas priced bonds in the primary and the Investment Company Institute reported another round of billion-dollar-plus inflows. The Investment Company Institute reported $1.325 billion of inflows for the week ending Sept. 8, following $1.804 billion of inflows the prior week,
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Chicago Mayor Lori Lightfoot tapped San Antonio, Texas, school superintendent Pedro Martinez — a former Chicago Public Schools fiscal chief — to lead the district as fiscal and governance change looms. Lightfoot introduced Martinez as the new chief executive officer at a news conference Wednesday. Martinez is the first Latino to hold the CEO position
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The government of Guam has settled on a $937 million budget for fiscal 2022, which starts Oct. 1. Gov. Lourdes “Lou” Guerrero on Saturday said she would let the budget go into effect without her signature. The legislature transmitted the budget to her on Aug. 31. The budget includes $623.6 million of total General Fund
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Municipals were little changed ahead of a $10 billion-plus new-issue week as California offered $2 billion of general obligation bonds to retail investors and the market considered the municipal bond provisions offered from Washington. Triple-A benchmarks reported steady levels while U.S. Treasuries improved and equities also improved. “The municipal market is relatively unchanged and not
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First of two parts Visceral memories of the Sept. 11 terrorist attacks on the World Trade Center in New York City — and more positively, the response from the capital markets — linger 20 years later. The anniversary comes as the city is trying to emerge from a newer crisis, the COVID-19 pandemic. Meanwhile, generational
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California Gov. Gavin Newsom announced the release of $2.75 billion to support the state’s Homekey project Thursday. The program provides money to local governments to build permanent supportive housing for unhoused people. It’s estimated the additional funding could build up to 14,000 housing units for people exiting homelessness, said Newsom, who called it the largest
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Almost two dozen amicus briefs have been filed with the U.S. Supreme Court in the past 10 days in favor of granting Supplemental Security Income benefits to Puerto Ricans and other territorial residents, with oral arguments set for Nov. 8. Providing the payments would mean an additional $1 billion in federal transfers to Puerto Ricans
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VanEck launched a municipal exchange-traded fund with a sustainability designation, the first ETF of its kind in the municipal space. The VanEck HIP Sustainable Municipal fund, SMI ticker, introduced Friday, is an actively managed fund focusing on investment-grade state and local government debt that funds projects promoting sustainable development, including affordable housing, green spaces and
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Municipal bonds were little changed, ignoring another reversal in U.S. Treasuries on Friday ahead of a larger-than-average $10 billion-plus calendar led by California, Texas and New York issuers. Triple-A benchmarks were unmoved again Friday while the 10-year UST rose four basis points and the 30-year four. As such, ratios fell slightly with the 10-year muni-to-Treasury
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Municipals were little changed, underperforming a U.S. Treasury rate reversal from Wednesday as all eyes were on the primary with Minnesota selling $897 million of general obligation bonds to strong reception. Triple-A benchmarks were unmoved while the 10-year UST fell four basis points and the 30-year five. As such, ratios rose slightly with the 10-year
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Title: Director Public Finance — Credit StrategyFirm: Wells FargoAge: 39 Kristen Fontana always had an affinity for the policy side of public finance. After dipping her toes into public finance with an internship at an investment bank during the financial crisis, she decided to go back to school for a graduate degree. There, Kristen said,
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Melissa Norcia was appointed the chief administrative officer for the California State Teachers’ Retirement System on Tuesday. Norcia starts September 15 and replaces Lisa Blatnick, who became CalSTRS chief operating officer in August. CalSTRS was established by law in 1913 to provide retirement benefits to California’s public school educators from prekindergarten through community college. Today,
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Branches of the U.S. Virgin Islands’ government are struggling for control over the territory’s beleaguered Water and Power Authority. The governor is preparing a suit to reverse a law the legislature passed Aug. 3 by overriding his veto. And on Monday, Virgin Islands Senator Kenneth Gittens responded by calling for the legislature to file a
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