Bonds

Municipal yields fell on Thursday for the first time since March 1 as buyers emerged, while U.S. Treasuries rose out longer and equities improved again a day after the Fed’s first rate hike. Trading was stronger out of the gates, with large blocks of high-grades changing hands at stronger levels. Triple-A benchmark yields were bumped
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After the Federal Reserve hiked interest rates for the first time since 2018 and said it would raise them six more times this year, U.S. Treasury yields continued to rise, while munis were relatively stable and equities rallied to close the session. Municipal to UST ratios showed the five-year at 76%, 90% in 10-years and
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Political corruption taints the reputations of Chicago and Illinois and may influence decisions by businesses and voters at the polls, but it’s harder to measure the indirect toll on ratings, borrowing costs, and population trends. While federal authorities in recent decades have nabbed several dozen city and state officials including two past governors, the high
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California Gov. Gavin Newsom signed legislation Monday that averts a court order requiring the University of California-Berkeley to slash fall enrollment by 3,050 students. The lawsuit was brought by a group of Berkeley residents, who claim the university hasn’t built student housing commensurate with enrollment growth as outlined in its long-range development plan. Residents sued
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Lawmakers approved a Washington state bill last week that would supplement existing highway bond authorizations with an additional pledge of vehicle-related fees. Gov. Jay Inslee has 20 days from the Legislature’s approval to sign or veto the bill. “The Legislature recognizes the importance of transportation electrification and the need to maintain stable funding for highway
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Municipal analysts expect high-yield investors to welcome Tuesday’s restructuring of Puerto Rico’s central government bonds as the commonwealth begins repaying bondholders since it defaulted on its debt in 2016, marking an official end to a years-long, contentious bankruptcy process. The restructuring will affect $33.2 billion of bonds, making it the largest municipal restructuring in U.S.
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Franklin Templeton hired Lloyd Nemerever to help the asset manager capitalize on growing interest from retail investors in separately managed accounts for municipal bonds. In the newly created role, Nemerever will lead portfolio management for Franklin Templeton Fixed Income’s retail municipal bond separately managed account strategies, including the construction of new portfolios customized to meet
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The Municipal Securities Rulemaking Board’s request for information on environmental, social and governance considerations in the muni market represents a dangerous attempt by the board to bring politics into the realm of public finance and should be abandoned immediately. That’s according to Utah State Treasurer Marlo Oaks, who helped lead the coalition of officials from
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Municipal yields rose up to seven basis points Thursday pushing the one-year triple-A muni to 1%, a level not seen since April 2020 during the initial COVID-led selloff. U.S. Treasuries pared back some losses near the close, but the two-year hit its highest level in over two years after inflation hit its highest in 40.
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Puerto Rico bankruptcy Judge Laura Taylor Swain directed the Oversight Board to take quick action to advance a new deal for the Puerto Rico Electric Power Authority, after the governor killed the existing deal Tuesday. In her order on Tuesday evening, Swain rejected the requests of the Ad Hoc Group of PREPA Bondholders and yet
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Transcription:Chip Barnett: (00:03)Hello, and welcome to another Bond Buyer podcast. I’m Chip Barnett coming to you live from the Bond Buyer National Outlook conference. I’m here today with Emily Brock from GFOA. And we’re gonna be talking about a lot of different things. Emily Brock: (00:20)It’s such a pleasure to be here. Thank you so
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