News Results

With rates at the effective lower bound, increased asset purchases will be the Fed?s main monetary policy easing tool going forward, and that's what analysts will be scanning the FOMC minutes for.

Under certain conditions the board could submit the proposal to the court without a further vote.

Analysts, issuers and lawmakers have mixed responses to the closure of the Municipal Liquidity Facility with some saying the move puts the municipal market in a precarious spot as COVID-19 continues to ravage the country.

Municipals continue to rally as market participants get ready to head into a quiet holiday week.

While the facilities' availability inspired market confidence, the fact that $455 billion remains unused suggests shutting down the programs is unlikely to cause major problems, analysts say.

Boosting diversity in the public finance sector should be a continued priority heading into next year, building on some strides in made in 2020.

Dealerweb is a wholesale unit of Tradeweb Markets (TW), a large fixed-income electronic trading platform company. FINRA found that Dealerweb failed to correctly report 147,000 trades.

Treasury Secretary Steve Mnuchin told Fed Chair Jerome Powell to end most emergency lending programs created earlier this year, including the MLF, on Dec. 31.

Gov. Albert Bryan Jr. is working with the territory's lawmakers on an internet sales tax and other revenue ideas to avoid a 42% pension benefit cut on Jan. 1.

Large blocks of New Jersey paper changed hands with yields that pushed spreads below 100 basis points on some maturities for the recently downgraded state.

Former Pennsylvania Gov. Edward Rendell said President-elect Biden will move on a pandemic relief bill early in his presidency and a robust infrastructure package would soon follow. Others see scaled-down aid and an upward partisan battle.

The Michigan Strategic Fund would issue bonds to fund a loan that would go to cover claims stemming from contamination of the city's water system.

Jobless claims rose and existing home sales surged, underscoring the uneven and sporadic nature of the COVID-19 pandemic recovery.

Mike Pellicciotti, a Democratic state representative, unseated incumbent Duane Davidson. Both say they are working on a smooth transition.

MTA officials revealed dark budget-and-service cut scenarios and Mayor Bill de Blasio closed in-person public schools, actions likely to ripple through the city's economy.

The Finance Committee signed off on new money, refunding, and scoop-and-toss debt restructuring deals and finance teams to assemble and sell the bonds.

A supply/demand imbalance allowed New Jersey and Massachusetts to reprice to lower yields while the beleaguered New York MTA will head back to the Fed for liquidity.

With both houses now under GOP control, Gov. Chris Sununu will have an easier time with his agenda.

?This is a preliminary determination, not a proposed adverse determination or a final determination,? the county said.

Paying post-petition bond interest to an unsecured creditor during the archdiocese's Chapter 11 bankruptcy is unusual, attorneys say.

Comptroller Stringer said Mayor de Blasio can present his updated Financial Plan with a path to a balanced budget for fiscal 2022 without cuts to essential services, layoffs of city workers, or borrowing to support operating expenses.

The strong demand amid a dearth of new municipal issuance by states and a reach for yield also allowed New Jersey to skip a planned taxable portion and officials announced it would not need to access the Fed's Municipal Liquidity Facility.

Candidates for the next U.S. Secretary of Transportation bring something new to the table than in previous years ? deep understanding of the municipal bond market.

October retail sales rose less than forecast, and with a new wave of rising infections, analysts worry that lost jobs and increased restrictions could hurt sales going forward.

The state's backlog of unpaid bills will grow to $35 billion by 2026 if it doesn't make any structural budget fixes, according to a new forecast.

Chicago Mayor Lori Lightfoot is promoting a $950 million restructuring that adds three years to the city's debt service schedule as present value neutral when factoring in savings from a more traditional $750 million refunding.

The authority is altering many of its operations and organizations, including exploring public-private partnerships and renewable energy resources.

Such moves could reduce costs by up to $180 million in present-value savings, Joe Torsella said.

The state has been coping with the economic fallout of COVID-19 and a burgeoning second wave that is expected to challenge the commonwealth?s finances and burden its healthcare system.

Municipals were steady to stronger ahead of $11.5 billion of supply as requests for new municipal bond identifiers surged almost 40% last month.

The Long Island county received its third credit downgrade this year as lawmakers prepared a 2021 budget with massive cuts to cope with virus-induced revenue losses.

The Federal Reserve?s changed policy framework is ?an evolution, not a revolution,? according to Vice Chair Richard Clarida.

A federal judge has set a Feb. 10 deadline for the Oversight Board to file ?an informative motion presenting a term sheet disclosing the material economic and structural features of an amended plan of adjustment.?

Local governments are facing calls for tax relief as the pandemic slows the economy and they implement property tax reform legislation.

There are many variables that will affect municipal credits before a successful coronavirus vaccine is approved, produced and distributed, and the economic effects of the virus-induced downturn begin to turn around.

During his leadership, Clayton oversaw amendments to Rule 15c-12 and pushed for more transparency in the municipal market.

California voters have approved a second infusion of bond funding for stem cell research.

Municipals firmed Friday, with yields falling by as much as two basis points, as coronavirus threats grow and a flight-to-safety resumes.

Mayor Lori Lightfoot's budget plan strikes the right balance between structural and one-time measures amid the coronavirus, says Jennie Huang Bennett.

The $4.3 billion deal will test the state's low bond ratings ? punctuated by another downgrade ? against the municipal market's continuing demand for paper.