With revenues running lower than expected in 2016, the Texas Legislature will keep a tighter grip on spending despite increasing demands for growth-related funding in the session that begins next month.
In the week ended Dec. 1, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose 12 basis points to 4.35% from 4.23% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.
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While Congress and the Treasury Department have put a framework in place for Puerto Ricos recovery, the key challenge ahead is whether they will be able to work together on health care and tax initiatives to spur economic growth in the commonwealth, said Kent Hiteshew, director of the Treasurys Office of State and Local Finance.
The Financial Industry Regulatory Authority has ordered UBS to pay two Puerto Rican residents $18.4 million in damages, interest, and other fees over the residents investments in closed-end mutual funds concentrated in Puerto Rico bonds. more »
With revenues running lower than expected in 2016, the Texas Legislature will keep a tighter grip on spending despite increasing demands for growth-related funding in the session that begins next month. more »
Here are some of the key "known unknowns" factors that are likely to affect valuations and creditworthiness and functioning in the state and local finance sector as the Trump Administration and Congress sort them out.