Headlines for February 17, 2017
The Government Finance Officers Association’s executive board has approved a series of new and revised best practices that make recommendations to issuers about refundings, investing their public funds, and procuring financial services.
Atlantic City's tax settlement with the Borgata Hotel should help the distressed city move forward to deal with its other fiscal challenges, analysts said.
Rising fixed costs and declining revenue will make balancing Connecticut Gov. Dannel Malloy's proposed $40.6 billion biennial budget a chore, said S&P.
IIlinois Gov. Bruce Rauner’s proposed fiscal 2018 budget banks additional tax revenue from the so-called “grand bargain” to fund $37.3 billion of spending.
The Louisiana State Bond Commission approved a smaller-than-planned general obligation borrowing Thursday that will save the cash-strapped state’s general fund about $3 million.
Elected officials must persuade motorists of the value of interstate highway tolling, according to new Fitch report.
A member of the Puerto Rico House of Representatives asked U.S. Attorney General Jeff Sessions to change a planned referendum on Puerto Rico’s status.
DALLAS – Flint, Michigan and its utility customers are on the verge of losing water credits that offered more than $40 million in payment relief to help cover city water payments as it recovered from it water contamination crisis. On Wednesday, Gov. Rick Snyder reiterated his intent to stop the state water relief credits at the end of the month. The credit covers 20% of commercial water bill accounts and 65% for residential. The state also
Chicago-based Roosevelt University’s rating was dropped further into junk territory over its ongoing enrollment struggles that haven’t been helped by the state budget impasse.
Gov. Charlie Baker’s administration is starting a search for a permanent chief executive and general manager for the Massachusetts Bay Transportation Authority.
Members of Congress need to be educated about state and local retirement plans for non-government workers before the Senate votes on two joint resolutions next month that could essentially kill them, say retirement experts.
The Municipal Securities Rulemaking Board is asking for comments both on draft amendments to its current dealer advertising rule that would harmonize it with other regulators’ rules as well as on a proposed rule that would extend many of those dealer provisions to municipal advisors.
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose three basis points to 4.28% from 4.25% in the previous week.
Top-rated municipal bonds finished stronger Thursday, traders said, after new issuance evaporated and yields see-sawed ahead of a holiday-shortened week.
GovernmentSecurities Prices 10-year: 98 7/32 to yield 2.45%, up 15/3230-year: 99 0/32 to yield 3.05%, up 26/32 Municipal BondIndex 122 21/32 up 13/32 The Bond Buyer's30-Day VisibleSupply (as of 2/17) Total: $8.500 billion, up $1.979 billionCompetitive: $3.859 billion, up $1.276 billionNegotiated: $4.641 billion, up $703.1 million The MuniCenter List Offering total: $14.210 billion, down $890.8 million