Headlines for October 18, 2016
As the presidential campaigns have become increasingly focused on personality and name calling, municipal finance pros are begging for more defined infrastructure spending plans and clarity on how the muni tax exemption will fare in the event of tax reform.
With voters from nine more states considering marijuana legalization in next monthís election, hereís a state-by-state chart of the revenue implications.
Gary Hall, national head of investment banking at Siebert Cisneros Shank & Co., has become the firmís newest equity partner, the company announced on Monday. Hall, who becomes the firmís sixth equity partner, is based out of the firmís West Coast headquarters in Oakland.
Dallasí growing pension problems brought two recent downgrades amid a wave of lump-sum withdrawals from the Dallas Police & Fire Pension System by retired officers and firefighters.
Oaklawn Hospital in Calhoun County, Michigan plans to convert its variable rate paper to fixed-rate debt in an upcoming $74 million hospital revenue bond refunding.
The New Jersey Transitís fiscal management and safety infrastructure will be scrutinized at New Jersey Senate hearings in the wake of a Sept. 29 Hoboken, N.J. train crash that killed one woman.
Manufacturers group wants new president to go bold with $1 trillion infrastructure plan.
Vanderbilt University received an upgrade to triple-A ahead of its first foray into the bond market since separating financially from its medical center.
R. Seelaus & Co., Carty & Co., and Emmet & Co. have agreed to pay a total of $83,000 to settle separate charges by the Financial Industry Regulatory Authority related to unfair markups, trading below the minimum denomination, and trade reporting failures involving municipal securities.
The Puerto Rico Oversight Board is considering filing briefs in four Puerto Rico bond suits.
Municipal bonds closed steady to weaker on Monday, with yields on some maturities as much as two basis points higher, according to traders, as they braced for $15.4 billion of issuance this week.
California tax revenue came in $217 million below the expected $24.8 billion for the first three months of fiscal 2017 , according to a California Department of Finance release.
GovernmentSecurities Prices 10-year: 97 19/32 to yield 1.77%, up 7/3230-year: 94 11/32 to yield 2.52%, up 21/32 Municipal BondIndex 130 16/32, unchanged The Bond Buyer's30-Day VisibleSupply (as of 10/18) Total: $23.453 billion, up $3.167 billionCompetitive: $7.093 billion, up $326.0 millionNegotiated: $16.360 billion, up $2.841 billion The MuniCenter List Offering total: $14.611 billion, up $262.1 million