Bonds

BofA Securities has hired three former Citi employees to help it grow and expand into aviation technology and housing securitization. The latest hires from Citi are Bob DeMichiel as a managing director and senior investment banker for the airline and transportation sector, and Raymond High and Mike Koessel as directors and senior investment bankers for housing and securitization.  “These
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As the Bipartisan Infrastructure Legislation hits the halfway implementation mark, federal officials are urging municipalities to lobby for a reauthorization. The BIL, also known as the Infrastructure Investment and Jobs Act, promised over a trillion dollars of infrastructure funding to states, municipalities, and Native American tribes when it was launched in 2021. The money comes with
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The Florida state legislative session ended Friday with lawmakers approving a $117.46 billion budget for fiscal 2024-2025, up 0.8% from the $116.5 billion fiscal 2023-2024 budget. This year’s budget provides another $500 million toward accelerating the debt pay-down. The general fund budget totals roughly $49.4 billion, a 7.2% increase from the current fiscal year’s budget
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Expansionary fiscal policy, Biden’s industrial policy and strong consumer spending are expected to outweigh higher interest rates and restrained growth, decreasing the likelihood of a recession in 2024, according to the UCLA Anderson Forecast. January’s drop in retail sales and housing starts was due more to the weather in the eastern U.S. than a pullback
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Chicago plans to issue $80.865 million of senior lien airport revenue refunding bonds for Midway International Airport in a deal that would replace variable-rate debt and associated swaps with fixed-rate bonds. The pricing date is flexible, said city of Chicago Chief Financial Officer Jill Jaworski. “The Midway deal is day to day,” Jaworski said, adding
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Parties to the Puerto Rico Electric Power Authority bankruptcy are arguing the fairness of four deals and whether the participants’ votes for them should be disqualified. On Monday afternoon the Puerto Rico Oversight Board asked U.S. District Court Judge Laura Taylor Swain to reject Syncora Guarantee’s and GoldenTree Asset Management’s request for the classes’ votes
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To address concerns about a healthcare shortage in western Wisconsin, Wisconsin Gov. Tony Evers on Feb. 28 signed a bill that made available $15 million in healthcare grants to hospitals to help them provide services. The $15 million — which Evers, a Democrat, urged the state legislature’s Republican-controlled Joint Finance Committee to release immediately —
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Keeping state coffers stocked and liquid requires a delicate mix of analysis, hedging and listening, with an emphasis on remaining nimble over the coming months. “Over the last eighteen months, the Fed’s told you what the answer is, and the market has continually bet against them,” said Thomas Waters, chief investment officer, Pennsylvania Treasury.  ”They’ve
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Municipal issuers who’ve yet to make a habit of disclosing material climate-related risks may be at risk of violating the Securities and Exchange Commission’s antifraud provisions, following the rollout of its newly updated climate rule last week. The SEC’s new climate rules, reviled by many on both sides of the aisle for either doing too
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A yearend rally led to ownership growth by most sectors in the fourth quarter fueled by a surge in retail, separately managed account buying and an uptick in institutional holdings, while year-over-year data shows the continued trend of dwindling bank holdings and dramatic drops in overall ownership by life and property and casualty insurance companies
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