Bonds

The Municipal Securities Rulemaking Board has issued a request for comment on Rule A-12 and Form A-12 on registration, seeking input from the market on draft amendments that would gather more information on the associated persons of bank dealers. The board is hoping to gather this information from bank dealers and eventually display such information
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Municipals were firmer Wednesday amid another heavy new-issue calendar, led by several large deals that saw yields lowered upon repricing. U.S. Treasuries yields fell further and equities ended up. Issuance remains robust Wednesday with an estimated $5.9 billion, said J.P. Morgan strategists, led by Peter DeGroot. The negotiated calendar was led by $830 million from
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The nation’s public transit providers scored a revised Moody’s Ratings’ sector outlook to stable from negative Tuesday as operators adjust to post-pandemic norms and scramble to line up new funding sources. By March 2024, public transit ridership in the U.S. had rebounded to 79% of pre-pandemic levels, surpassing office occupancy rates and suggesting transit agencies
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New York Gov. Kathy Hochul is considering delaying the congestion pricing plan to charge motorists driving into midtown Manhattan and potentially replacing it with a tax on New York City businesses, according to a person familiar with the situation who requested anonymity because the proposal hasn’t been made public. The tolling plan, set to begin
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Municipals were firmer Tuesday amid a busy primary market with several large deals, as U.S. Treasury yields fell and equities ended up. The two-year muni-to-Treasury ratio Monday was at 68%, the three-year at 69%, the five-year at 71%, the 10-year at 70% and the 30-year at 86%, according to Refinitiv Municipal Market Data’s 3 p.m.
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A Connecticut firm’s recent bankruptcy highlights the challenge of investing in the senior living sector, known throughout the muni market as one of the riskier areas, particularly in a post-COVID world. However, some market participants are still bullish, fueled by spread pickup, macro dynamics and demand-driven expansion.  The senior living sector has always been challenged,
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A 2017 constitutional challenge to Arizona’s system for funding public school facilities that spotlights districts’ unequal access to local property taxes and bond issuance finally went to trial last week.  The case, filed in Maricopa County Superior Court by school districts and others against state School Facilities Board officials, contends the funding system violates the
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The American Public Transportation Association sent a letter to lawmakers calling for a full appropriation of $42.5 billion in rail funding promised by the Bipartisan Infrastructure Legislation.   Per the letter, “These historic investments in public transportation will help communities of all sizes flourish, connecting workers to jobs, students to school, and people to healthcare,” said
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Amid increasing signs of financial and operational distress, the U.S. Virgin Islands Water and Power Authority board Monday announced CEO Andrew Smith will resign, effective June 30. The WAPA board held an emergency meeting Friday afternoon to deal with several topics. Nearly the entire meeting was held outside of public view but at least two
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