Headlines for December 1, 2016
Veteran municipal market strategist George Friedlander will join Court Street Group Research effective Dec. 1.
The SEC, in a court filing on Tuesday, said former Miami budget director Michael Boudreaux's arguments against penalties the SEC wants to impose on him for securities fraud show a lack of responsibility and respect for the jury verdict that found him guilty.
The Financial Industry Regulatory Authority found that Merrill Lynch failed to properly supervise customers’ investments in Puerto Rico bonds and closed-end funds.
Chicago's effort to right its fiscal path remains an uphill battle, according to expert panelists convened by the City Club of Chicago.
New York City intends to sell $1 billion of fixed-rate general obligation bonds the week of Dec. 5.
All Aboard Florida moved a step closer to financing the first phase of its private passenger train project when the U.S. Department of Transportation approved AAF’s new application for $600 million of tax-exempt private activity bonds. PAB financing for the project’s second phase remains uncertain.
Catholic Health Initiatives, one of the nation’s largest nonprofit health care providers, is in danger of a downgrade from S&P Global Ratings after analysts placed its A-minus rating on its negative watch list.
A proposed new arena is closer to reality after another courtroom win on Tuesday.
New Jersey Gov. Chris Christie announced a $300 million renovation of the state capital building that his administration plans to fund through bonding.
Youth hostel operators are pushing New York to lift restrictions on lodging regulations, saying the city is squandering up to $500 million in annual tourism and tax revenue.
Puerto Rico Governor Elect Ricardo Rosselló announced that Wanda Vázquez Garced will be the Secretary of Justice in his administration.
The Internal Revenue Service notified the Judson Independent School District near San Antonio that the district’s $240.8 million of 2007 bonds were the subject of a routine audit.
Milwaukee’s $10 million competitive sale of water revenue bonds Thursday will mark the city’s first publicly offered issuance under the credit since 1958 as it launches a shift to more borrowing for water projects.
The Michigan Senate advanced a series of bills designed to offer financial aid to “transformational” development projects.
The Chicago City Council signed on a new special use tax-increment financing district designed to help leverage $1.1 billion in federal funding for Chicago Transit Authority rail transit improvements.
Two Democrats who have some experience with municipal bonds, one much more so than the other, are vying to replace Rep. Sander Levin, D-Mich., as ranking minority member of the powerful House Ways and Means Committee that will play a key role in tax reform efforts.
Industry experts see federal transportation policy shifting toward more private investments in public projects.
Top-shelf municipal bonds finished substantially weaker for longer maturities on Wednesday, according to traders, who saw several big deals hit the screens, led by Chicago’s $1 billion O’Hare Airport offering.
GovernmentSecurities Prices 10-year: 96 23/32 to yield 2.37%, down 19/3230-year: 97 5/32 to yield 3.02%, down 1-13/32 Municipal BondIndex 120 19/32 down 1-10/32 The Bond Buyer's30-Day VisibleSupply (as of 12/01) Total: $12.281 billion, down $4.988 billionCompetitive: $4.014 billion, down $822.5 millionNegotiated: $8.267 billion, down $4.165 billion The MuniCenter List Offering total: $15.486 billion, down $834.5 million