Headlines for December 2, 2016
The San Diego Unified School District won The Bond Buyer's 15th annual Deal of the Year award for its $471 million sale which smashed the template for local general obligation bonds in California.
In the latest capital markets hit to Connecticut, S&P Global Ratings revised its outlook on the state to negative from stable.
Voters’ approval of the Los Angeles Metropolitan Transportation Authority’s latest sales tax measure has spurred interest from private industry in partnering with the transit authority.
S&P Global Readings dropped the Virgin Islands Gross Receipts Tax bonds seven notches to B from BBB-plus Thursday.
Chicago wrapped up its second billion-dollar airport deal within a month at a price that displays how much the market has changed in that short time.
Georgia-based First Southern Securities has hired Rafael Pagán to help the boutique investment banking firm break into the mergers and acquisitions sector.
Los Angeles City Administrative Officer Miguel Santana is stepping down from his current role to work for the Los Angeles County Fair Association.
David Carrington, who was president of the commission that placed Jefferson County, Ala., into Chapter 9, said his experience presents an opportunity for him to consider running for governor.
Illinois Gov. Bruce Rauner vetoed legislation that would give Chicago Public Schools $215 million toward pension contributions, a move that potentially slaps the cash-strapped district with a big budget hole to fill.
The MSRB issued interpretive guidance on how its rules apply to accounts that are fully managed by a registered investment advisor that is also a sophisticated municipal market professional.
The Michigan House on Thursday began hearings on a plan introduced by House Republicans to limit retirement healthcare benefits for police officers, firefighters and other government workers in cash-strapped municipalities across the state.
Chicago Mayor Rahm Emanuel scored a major legislative victory with the state House’s overwhelming bipartisan approval of legislation designed to stave off looming insolvency for two of the city’s pension funds.
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.
Top-rated municipal bonds again finished weaker, traders said, as the last of the week’s new issue supply came to market Thursday. Munis followed Treasuries lower ahead of Friday’s U.S. employment situation report.
GovernmentSecurities Prices 10-year: 96 2/32 to yield 2.45%, down 21/3230-year: 95 19/32 to yield 3.10%, down 1 18/32 Municipal BondIndex 119 8/32 down 1 11/32 The Bond Buyer's30-Day VisibleSupply (as of 12/02) Total: $15.255 billion, up $2.974 billionCompetitive: $3.752 billion, down $261.7 millionNegotiated: $11.503 billion, up $3.236 billion The MuniCenter List Offering total: $15.187 billion, down $298.4 million