Bonds

Quincy, Massachusetts, is planning a $475 million pension obligation bond sale for Tuesday that is projected to fully fund its retirement system. City officials say they are getting out front of a state directive for its municipalities to reach full pension funding by 2037 and borrowing while interest rates are still low. Ramirez & Co.
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Mark Zehner spent 25 years dropping the hammer on municipal securities wrongdoers, helping to firmly establish the Securities and Exchange Commission’s enforcement of the laws in the muni market. His career saw the SEC bring cases against negligent issuers and audacious fraudsters, broker-dealers and bond lawyers. He still views the municipal market as a place
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Secondary trading saw an uptick and some pressures emerged on munis, but benchmark yield curves were little changed to weaker by a basis point in spots, again outperforming taxables. U.S. Treasuries slid further with the largest rise in yields on the long bond, and equities made gains after a mixed open. ICE Data Services and
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Minnesota expects a $7.7 billion surplus in its current two-year budget, a dramatic turnaround from a year ago when red ink driven by the pandemic’s anticipated tax blows loomed. The state’s November 2020 budgetary and economic forecast warned of a $1.3 billion gap in the fiscal 2022-2023 for Gov. Tim Walz and lawmakers to deal
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TRANSCRIPT:Mike Scarchilli: (00:00)Hi, this is Mike Scarchilli editor in chief of the bond buyer. Welcome to the future of infrastructure, our new podcast. It’s a series of deep dives into us, infrastructure opportunities, investments, and impact for our first installment. I’m pleased to welcome investigative journalist, Peter Keating in this four part series build what
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WASHINGTON — President Biden ended the guessing game last month over his choice to run the Federal Reserve Board when he announced the renomination of Chair Jerome Powell to another term leading the central bank. But Powell’s reappointment along with the nomination of Gov. Lael Brainard to one of two vice chair positions only provided
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Eric Adams has about a month before his Jan. 1 swearing in as New York mayor to prepare for his first budget presentation. While he inherits a city with roughly $15 billion in multiple rounds of emergency federal funding, better-than-expected revenue and diminished outyear budget gaps, a raft of fiscal variables will confront him at
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After a full seven trading sessions of volatility in U.S. Treasuries and equities, municipals ended Friday quiet, little changed, and again ignored the moves in other markets. Treasuries saw yields fall and equities sold off on lower-than-expected employment figures while triple-A municipal benchmark yields were steady to firmer by a basis point in spots. This
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The U.S. toll road sector is expected to continue its upward trajectory in 2022, as median tolled traffic and revenue growth are slated to exceed 2% and 4%, respectively. That’s according to Moody’s Investors Service’s U.S. toll road report released on Dec. 2nd. Toll road traffic saw its steepest ever decline in 2020 as a
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Municipals continued to cut their own path and were little changed with a few large deals taking the focus again Thursday even as U.S. Treasury yields rose and equities rallied. Stocks rose on optimism the latest COVID variant “won’t completely upend economic activity,” said Edward Moya, senior market analyst at OANDA. “The next couple of
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California is well-positioned to qualify for the plethora of federal broadband infrastructure money available through the $1.2 trillion infrastructure bill, according to Sen. Alex Padilla and others who spoke during an online event Tuesday. California Forward and California Emerging Technology Fund hosted the online webinar with Padilla, D-Calif., and several other speakers. The topic: what
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Municipals were mostly steady throughout the day and the primary was the focus while U.S. Treasuries whipsawed and stocks sold off after the first Omicron case was reported in California. The Investment Company Institute reported $974 million of inflows into municipal bond mutual funds and another round of small outflows from exchange-traded funds. Treasuries ended
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Puerto Rico’s General Fund net revenues came in 17.4% ahead of Oversight Board projections in the first quarter of the fiscal year. Revenues measured on an accrual basis were also 10.4% ahead of the first quarter of the prior fiscal year, according to data released by the Puerto Rico Treasury. Puerto Rico Secretary of the
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