Details of the pending investigation are sketchy but the legislation improved the value of a then-bankrupt FirstEnergy (FE) subsidiary's municipal bonds.
Jim Beard, Atlanta's CFO for seven years, was charged by a federal grant jury with fraud, theft of government funds and purchasing illegal machine guns.
During a Congressional Oversight Commission hearing, the Fed's Kent Hiteshew said the MLF is working as is, despite having made loans to only two issuers.
Congressional inability to agree on further stimulus aid means issuers are unlikely to see budgetary relief that would free up dollars for infrastructure at least until after the November election.
Jobless claims declined, but remain elevated, housing starts and building permits also slid, while manufacturing in the Philadelphia region expanded at a slower pace.
Gov. J.B. Pritzker warns of thousands of layoffs across illinois governments and a $1 billion hit to education funding if the federal government does provide relief.
Secondary trading picked up somewhat while the new-issue market saw a large amount of taxables in the negotiated space while Pennsylvania competitively sold $470 million of general obligation bonds.
Potential fiscal fallout from the police killing of George Floyd and the pandemic's economic strains brought a negative outlook to the city's AAA S&P rating.
Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.
This deal is designed to expand MarketAxess? existing municipal bond trading solution for global institutional investor and dealer clients, the firm said.
The Puerto Rico Housing Finance Authority may issue $250 million of tax-exempt capital fund modernization program refunding bonds the week of Sept. 28.
The city's full-court press on investors includes a webinar to replace pre-COVID-19 investor luncheons and one-on-one calls ahead of the $1.24 billion deal.
With its new policy framework in place, the Fed will decide how it can use its tools more aggressively and effectively to achieve its primary goal of increasing jobs and wage growth through a more robust economic rebound.
Gov. Phil Murphy?s administration faces a fast-approaching deadline to choose its debt strategy: long-term GO bonds or the Fed's Municipal Liquidity Facility.
S&P Global Ratings revised its outlook on Pennsylvania's A-plus rating to negative from stable ahead of Wednesday's competitive general obligation bond sale.
The so-called ?skinny bill? proposed by Senate Republicans failed to advance Thursday in a 52 to 47 vote that fell short of the 60-vote supermajority needed to break a filibuster.
Any bonding to cover coronavirus-related budget gaps should come only with oversight from a reactivated state panel, the Citizens Budget Commission said.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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