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Baird Expansion Continues with Two New Muni Funds
The pair of new funds will invest in municipal bonds — principally in high quality obligations — that offer federal tax exemption.
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Municipal bond funds saw outflows in the latest week, according to Lipper data released on Thursday. Funds which report weekly saw $586.481 million of outflows in the week ended Sept. 2, after seeing outflows of $344.563 million in the previous week, Lipper reported. more »
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased two basis points to 4.42% for the week ended Sept. 3 from 4.40% in the previous week. more »
Solutions to the public pension funding crisis go beyond numbers crunching, said Manhattan Institute pension expert Daniel DiSalvo. more »
U.S. toll roads rated by Moody's Investors Service improved their finances in fiscal year 2014, the rating agency said. more »
Hillview, Ky.'s bankruptcy filing offers more evidence that municipalities increasingly consider filing for reorganization as a way to cure balance-sheet problems, according to Moody's Investors Service. more »
Municipal volume is forecast to plunge to the lowest in six months as end-of-summer holidays approach. more »
The Detroit suburb of Allen Park wants bondholders to sell back at par $31 million of bonds floated for a now-failed film studio that the city blames for a long financial decline. more »
Detroit snagged investment-grade ratings from Moody's Investors Service on its senior-lien water and sewer debt for the first time since before the city filed for bankruptcy. more »
Municipal bond funds saw cash redemptions in the latest week, according to Lipper data released on Thursday. Funds which report weekly saw $344.563 million of outflows in the week ended Aug. 26, after seeing inflows of $43.656 million in the previous week, Lipper reported. more »
In the week ended Aug. 27, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was unchanged from 4.40% in the previous week. The BB40 Index is based on the price of 40 long-term bonds. more »
Hillview, Ky., filed for bankruptcy to stop interest accruing on an $11.4 million adverse judgment and will pay its $3.2 million of bond debt, said City Attorney Tammy Baker. more »
Moody's revised its outlook on the nonprofit health care sector to stable from negative, where it has been since 2008, citing significant gains in several key areas. more »
Buy-side analysts and strategists offered recovery solutions for Puerto Rico ranging from eligibility for Chapter 9 bankruptcy to Congressional intervention and economic reform. more »

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Rhode Island and Michigan showed solid improvement in labor markets in August, while Puerto Rico showed greater improvement in its unemployment rate than any of the 50 States, according to our proprietary measure of state economic health.

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