Bonds

The municipal market’s top federal priority, tax-exempt advance refunding, made a surprise appearance Tuesday during a House Ways and Means subcommittee hearing on the economic impact of the Infrastructure Investment and Jobs Act. “In addition to federal investments, we must also make an investment in helping local and state governments get the resources they need

The Puerto Rico House of Representatives approved money for the central government’s Plan of Adjustment Tuesday, setting the stage for dollars to begin flowing to bondholders who have not been paid since the island defaulted on its debt in 2016. The measure authorizes spending $10.9 billion from past years’ revenues for paying various Plan of

Co-heads of municipals at Baird Advisors, Duane McAllister and Lyle Fitterer, discuss the challenging environment in the first month and a half of 2022 and where risks and opportunities lie in a volatile investing landscape. Lynne Funk hosts. (29 minutes). Transcription below: Lynne Funk: (00:03)Hello, and welcome to another Bond Buyer podcast. I’m Lynne Funk

WASHINGTON — Sen. Jon Tester, D-Mont., said he would vote to confirm Sarah Bloom Raskin to be the Federal Reserve’s next vice chair for supervision. Speaking to Yahoo Finance on Monday, Tester — considered a centrist voice on the Senate Banking Committee — said that he would vote to advance Raskin’s nomination out of the

A founder of a fintech firm that President Biden’s nominee for the top bank supervisory post at the Federal Reserve worked for after serving in the Obama administration said Friday that Republican allegations that she behaved unethically in interacting with a regional Fed bank are “completely false.” Sarah Bloom Raskin’s “conduct was appropriate, ethical and

How much debt does New York State have outstanding and how is it issued? The answer for inquiring investors is “It may be more than you imagine.” The nonpartisan Volcker Alliance released an issue paper on Feb. 3 that takes an in-depth look at the Empire State’s municipal bonds and other debts the state owes

New York State and its numerous public authorities and agencies owe $186.6 billion to bondholders, the federal government, and future retirees, among others. Without borrowing, the Metropolitan Transportation Authority wouldn’t have been able to keep the subway running during the COVID-19 pandemic and the state unemployment trust fund wouldn’t have had enough cash to pay

The Puerto Rico House of Representatives rejected a measure allocating money for bondholders and other payments connected with the court-approved Plan of Adjustment. Shortly after midnight Friday the House voted 25-21 in favor of the joint resolution, which would have amended the current year’s budget, one vote short of the needed majority for passage. Puerto

Harvey, Illinois, has resolved Securities and Exchange Commission concerns over its compliance with a 2014 consent judgment that settled fraud charges, removing one hurdle to a debt restructuring. The SEC forced the city back into court in October 2020 over concerns the city had not fully implemented an independent consultant’s recommendations aimed at cleaning up

Munis sold off, playing catch-up Thursday’s U.S. Treasury selloff, while taxables pared back some of those losses in a flight-to-quality bid Friday as equities were hit hard on U.S.-Russia tensions. Triple-A muni benchmark yields were cut by up to 10 basis points on the short end but the pain was felt across the curve with

In an interview on Thursday, Federal Reserve Bank of St. Louis President James Bullard discussed his outlook for monetary policy following a report showing surging consumer prices. He gave his view on whether a 50 basis-point interest-rate increase would be needed, and the possibility of raising rates between Federal Open Market Committee meetings. Here’s a