The Wayne State University Board of Governors will return to market with $31.8 million of Series 2024A general revenue refunding bonds. Proceeds of the deal, scheduled to price Aug. 21, will be used to refund a portion of the Detroit-based school’s outstanding Series 2015A general revenue and refunding bonds. The new deal arrives with Wayne
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Dallas Fort Worth International Airport will head to the municipal bond market next week with a $750 million deal boosted by a rating upgrade and an outlook revision to positive. S&P Global Ratings raised its rating to AA-minus from A-plus, citing the airport’s “relatively” strong enplanements, history of financial resiliency, and stable debt service coverage. The
Iuliia Isaieva | Moment | Getty Images Homeowners are sitting on$17 trillion in equity as of the end of the first quarter of 2024, according to CoreLogic. The average homeowner gained $28,000 in equity compared to a year earlier. For many people, there’s no need to touch that money. Home equity is “not like bread,”
The U.S. economy has remained remarkably strong even amid persistent inflation and high interest rates. And yet, 59% of Americans falsely believe that the U.S. is currently in a recession, according to a recent survey of 2,000 adults by Affirm in June. Citing higher costs and difficulty making ends meet, most respondents said they think
The Financial Data Transparency Act (FDTA) passed by Congress in December 2022 mandated the use of a common, non-proprietary legal entity identifier for municipal issuers. Although Congress’ legislative intent continues to be a matter of debate, we argue that any implementation of this new mandate will have to satisfy a basic market need: the correct
A proposed constitutional amendment on Colorado’s Nov. 5 ballot aimed at curbing property taxes would roil municipal financing in the state and harm metropolitan districts in particular, by boosting borrowing costs and sparking litigation, according to bond dealers and attorneys. Initiative 50, a proposed constitutional amendment that requires a 55% majority vote for passage, would
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Municipals were mostly steady Monday after a week of market volatility, as U.S. Treasury yields fell and equities were mixed at the close. Market participants are sitting back ahead of the week’s economic indicators, led by the Producer Price Index and Consumer Price Index reports on Tuesday and Wednesday, respectively. “The Treasury market may get
Hawaiian Electric Industries Inc. pegged losses from estimated accrual of liabilities stemming from one of the worst wildfires in US history at $1.7 billion and issued a going-concern warning. Hawaiian Electric said Aug. 2 that it had agreed to pay almost $2 billion as part of a $4 billion settlement to resolve hundreds of lawsuits
California Republican Rep. Mike Garcia last week unveiled a bill that would block federal funds for the state’s controversial high-speed rail project. “After 15 years and billions of your hard-earned tax dollars spent, California’s high-speed rail has delivered zero results,” said Garcia in a statement announcing H.R. 9308, the No Frankenrail Act. “This so-called high-speed rail
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Brandi Schmitt and her family pose for a 2018 Christmas card in front of their Maryland home wearing protective gear, alluding to the water and mold damage in their home. Each year, Schmitt said they try to capture the family’s situation through their Christmas card. Courtesy: Brandi Schmitt When a nor’easter struck in 2018, intense
A cooling tower at the Constellation Nine Mile Point Nuclear Station in Scriba, New York, US, on Tuesday, May 9, 2023. Lauren Petracca | Bloomberg | Getty Images Tech companies are increasingly looking to directly connect data centers to nuclear plants as they race to secure clean energy to power artificial intelligence, sparking resistance from
Democratic vice presidential candidate and Minnesota Governor Tim Walz (L), and Republican Vice Presidential candidate Sen. JD Vance (R-OH). Getty Images With the major party tickets finalized, many voters are watching the candidates for personal finance policy that could impact their wallets. Vice President Kamala Harris this week unveiled her running mate, Minnesota Gov. Tim
A man walks past Kobayashi Pharmaceutical’s headquarters building in Osaka on April 2, 2024. Yuichi Yamazaki | AFP | Getty Images Company: Kobayashi Pharmaceutical (4967.T) Business: Kobayashi Pharmaceutical manufactures and sells pharmaceuticals and consumer products in Japan and internationally. The company operates in three segments: The Domestic Business and International Business segments offer health care,
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 8, 2024. Brendan McDermid | Reuters Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox.
A trader works on the floor of the New York Stock Exchange. NYSE Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Office demand and office stocks CNBC TV’s Diana Olick will report
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An aerial view shows a subdivision that has replaced the once rural landscape in Hawthorn Woods, Illinois. Scott Olson | Getty Images Mortgage interest rates dropped last week to the lowest level since May 2023, causing a surge in mortgage demand from both homebuyers and especially current homeowners. Total mortgage application volume rose 6.9% last
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