Bonds

Transcription: Chip Barnett (00:03):Hi, and welcome to The Bond Buyer. I’m Chip Barnett and my guest today is Ellis Phifer. He’s a managing director and senior strategist in the fixed income research department at Raymond James. He’s been actively involved in the fixed-income markets for over 25 years, split between fixed-income portfolio management and strategy
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Unsteady leadership has challenged the financial stability of Wellfleet, Massachusetts, according to a state review of the town’s financial management that was recently made public. High turnover rates in key government positions over the last decade left the Cape Cod town of 4,035 without sustainable revenue streams and in need of fundamental reforms, the Division
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Economic indicators did little to move fixed-income Monday as municipals were slightly firmer to start off the week, while U.S. Treasuries were a little weaker. Equities ended mixed. Tuesday and Wednesday will bring testimony from Federal Reserve Board Chair Jerome Powell and Friday will see the release of the February employment report. The market will
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Turmoil continues at an Idaho community college district where management dysfunction was a major factor in a February downgrade. A Kootenai County district judge ordered North Idaho College trustees to reinstate Nick Swayne, the college president they had placed on administrative leave in December. Tumult that put its accreditation in jeopardy was cited when Moody’s
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The fiscal pounding hospitals took last year from labor and other pressures nearly erased the fiscal 2021 recovery for hospitals operating margins that have June 30 fiscal year ends, with the full and bleaker accounting of last year’s strains still to come, Fitch Ratings said. The not-for-profit hospital sector’s bruising margin wounds last year are well known
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U.S. District Court Judge Laura Taylor Swain voided a 2022 Puerto Rico labor law, a win for the Puerto Rico Oversight Board, and perhaps an important precedent, according to an analyst. The law, Act 41, does not comply with the Puerto Rico Oversight, Management and Economic Stability Act because it was not submitted to the
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The National Federation of Municipal Analysts has named Mark Capell, managing vice president of public finance for Build America Mutual’s West Region as its president for the 2023 year. The first bond insurer to serve as president of NFMA since Bill Hogan of Assured Guaranty’s 2009 term, Capell believes his experience in bond insurance gives
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Legislatures in 32 states so far this year have introduced more than 150 transportation funding-related measures, with more expected as legislatures in all 50 states settle into their sessions. That’s according to the January and February roundup of state bills by the American Road & Transportation Builders Association, which tracks transportation-related bills monthly through its
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Municipals were firmer in spots Friday, with pressure easing for short-end munis, ahead of a robust new-issue calendar where issuance tops $10 billion. U.S. Treasuries rallied out long, and equities ended up. Triple-A benchmark yields were bumped three to 12 basis points, depending on the scale, at one-year, while UST yields fell four to 13,
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S&P Global Ratings on Friday revised the outlook on Reedy Creek Improvement District, Florida’s general obligation bonds to stable from developing. S&P also affirmed the AA-minus long-term rating on the district’s outstanding GOs, saying the rating reflects the strong tax base, very strong collection rates and consistent financial performance. “The outlook revision reflects recent state
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Legislation seeking to end government contracts with companies engaged in “boycotting” an expanded list of industries and business policies passed the Utah House and Senate late Thursday. Senate Bill 97 builds on laws previously enacted in Texas and a few other states focusing on “boycotts” of the fossil fuel or firearm industries by adding timber,
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New Mexico would authorize public-private partnerships on the state and local level under a bill unanimously approved by the state House Thursday and now headed to the Senate. The bill, House Bill 213, would allow P3s for transportation and broadband projects. “Those are two of the most pressing needs in the state,” said Rep. Cathrynn
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The Federal Reserve said further interest-rate hikes would be required to restore price stability. “The committee is strongly committed to returning inflation to its 2% objective,” the Fed said in its semi-annual report to Congress released Friday. Officials expect “ongoing increases in the target range will be appropriate in order to attain a stance of
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Illinois’ budget and pension stabilization funds would receive automatic deposits when the state hits revenue growth and bill payment triggers under legislation that cleared a House committee this week. With a series of infusions over the last two fiscal years, the state’s once-depleted rainy-day fund remains on track to hit $1.9 billion by the end
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