The House GOP blueprint for tax reform released Friday sparked mixed reactions in Congress, with leading Democrats criticizing its lack of detail and Republicans lauding its proposed pro-growth efforts through limits on deductions, exclusions and credits in the current tax code.
Treasury Secretary Jack Lew added to the pressure for quick passage of a Puerto Rico rescue bill in a letter to the Senate leadership on Monday, even as some public finance professionals maintain the bill is unnecessary and could be harmful for the commonwealth.
In one of the biggest rallies in recent memory, municipal bonds surged on Friday after Britain voted to leave the European Union. Yields on some top-rated municipals fell by as much as 17 basis points to record low levels, in a move that some analysts said signaled yields will remain near all-time lows for longer than anyone had expected, and that negative U.S. interest rates may be on the horizon.
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Bond industry veteran Tony Miscimarra is the new managing director of business development at BondWave LLC, as the financial technology company and registered investment advisor prepares to launch a suite of new technology products. more »
In one of the biggest rallies in recent memory, municipal bonds surged on Friday after Britain voted to leave the European Union. Yields on some top-rated municipals fell by as much as 17 basis points to record low levels, in a move that some analysts said signaled yields will remain near all-time lows for longer than anyone had expected, and that negative U.S. interest rates may be on the horizon. more »
The political and financial dysfunction of Illinois cost the state $12 million on Thursdays $550 million bond pricing compared to its previous sale in January, according to a report from the University of Illinois Institute of Government and Public Affairs. more »
In the week ended June 16, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was six basis points lower to 3.80%, from 3.86% the previous week. more »
Municipal bond investors are in a good position to wait out the Federal Reserve, after policy makers left the target interest rate unchanged and signaled increases will be gradual, strategists said. more »
New Jersey bonds could see spread tightening after a state Supreme Court decision upholding the 2011 suspension of cost of living adjustments to retiree pension benefits, but any boost will likely be short-lived, according to Municipal Market Analytics. more »
Carl Weisbrod, Director of the New York City Department of City Planning, joins Bond Buyer Senior Markets Reporter Chip Barnett to talk about the surge in NYCs population and corresponding employment growth and why economic growth is dependent upon affordable housing for workers.