The city, which previously spent tens of millions of dollars to keep the NHL's Arizona Coyotes from leaving, will turf the team from its arena at season's end.
For investors in the municipal bond market, 2021 proved to be a year of hurdles. This is likely to change, particularly for investors in the municipal bond market.
The primary led Thursday's firmer tone while Chicago schools faced 10 to 20 bp penalties compared to price talk, signifying investors are being more selective and demanding more in the new higher-yield range.
California officials blame a new electronic records system for reporting delays that worsen every year, though other states don't have the same problem.
Mayor Eric Adams?s proposal to ask the state to raise the Transitional Finance Authority?s bonding authority by $19 billion is being opposed by Comptroller Brad Lander.
The agency cited ?the appropriation of the full actuarial pension contribution in fiscal 2022 for the first time in 26 years" coupled with improved reserves.
Federal Reserve Board Chair Jerome Powell would not commit to timing for liftoff, stressing decisions would be data-based and the Fed will not allow inflation to become entrenched.
Other concerns include ongoing threats from the coronavirus, inflation and legislative inertia on muni issues in Washington, according to a Bond Buyer survey.
Building on the success of its Green Liberty Bonds, a subsidiary of the Connecticut Green Bank will allow mom and pop investors to place orders for as little as $100 for Green Liberty Notes until Friday.
If it clears the legal hurdle, the company that owns the $30 billion project may seek a $12 billion Railroad Rehabilitation and Improvement Financing loan.
Munis followed UST weaker while stocks sold off after the employment report, which offered many messages. Analysts believe the bottom line is the Fed will liftoff in March.
The Treasury has issued final ruling for the State and Local Fiscal Recovery Funds program, leaving the ban on the use of stimulus funds to offset tax cuts and furthering the battle of its constitutionality.
The rating agency is keeping the not-for-profit hospital sector's outlook stable as hospitals continue to benefit from the impact of federal coronavirus relief.
The Federal Reserve expects Omicron to fizzle in weeks, and while pandemic-related risks remain, the economy is strong and the Fed needs to address inflation and could liftoff as soon as March, Bullard says.
The credit unions had bought $976 million of Puerto Rico bonds and notes, which they alleged they were coerced to purchase by Puerto Rico government and its agencies.
Gov. Kathy Hochul's??New Era for New York" initiative includes?a $10 billion healthcare proposal, a $1 billion plan to help small businesses, middle-class tax relief, ethics reforms and limiting statewide elected officials to two terms.
Sarah Bloom Raskin, reportedly the Biden administration's top candidate for vice chair of supervision, would toughen the Federal Reserve's stances on the role of banks in combating climate change, capital requirements, the Volcker Rule and other policy areas, experts say.
ICI reported $1.101 billion of inflows into municipal bond mutual funds for the last week of 2021. Refinitiv Lipper figures on Thursday may give a sense of investor sentiment for week one of 2022.
California has produced increasingly late audited financial documents since it fully launched FI$Cal, the state's massive financial technology system in 2019.
The state expects to cut interest costs through the early repayment on the loan taken out through the Federal Reserve's emergency lending program to help pay down healthcare bills.
"There is no person who has done more to keep the New York City budget sound than Ronnie Lowenstein,? says Richard Ravitch. "She is a remarkable public servant.?
Municipals triple-A benchmarks continue the trend of ignoring other markets to start 2022. The new year will likely usher in slower growth and continued inflationary pressures, analysts said.
The Internal Revenue Service and Department of the Treasury have released final guidance on the transition away from Libor, designating SOFR as an alternative rate.
Marjorie Henning was named deputy comptroller for public finance and Michael Haddad is interim chief investment officer and deputy comptroller for asset management.
A whopping 27% increase in revenues in the second half of fiscal year 2021 sets the state up to replenish its reserves and restore positions cut during the pandemic.
The MSRB's priorities for the year include action on ESG, updates to its EMMALabs platform, and more requests for comment aimed at modernizing its rulebook.
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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