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Market Close: Munis Lower On Fed Day Amid Swings In Treas., Stocks
The municipal bond market ended only slightly weaker Wednesday, amid swings in Treasuries and the stock market, as Federal Reserve Chairman Ben Bernanke said the Fed will continue buying $85 billion a month of bonds, though it may start tapering the pace of purchases in a few months.
Bond Buyer Markets Reporter Taylor Riggs
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Moody's: HFA Delinquencies Continue to Climb
Delinquency and foreclosure rates for single family whole loan programs of housing finance agencies continued to increase during 2012, despite an improved housing market. more »
Middle Township BOE, N.J., ICR Raised to A-Plus by S&P
Standard & Poor's Ratings Services said it raised its school issuer credit rating on Middle Township Board of Education (MTBOE), N.J.'s general obligation refunding school bonds by one notch to A-plus from A. more »
Indianapolis Local Pub Imp Bond Bank Raised to AAA by S&P
Standard & Poor's Ratings Services said it raised its long-term rating to AAA from AA-plus on the Indianapolis Local Public Improvement Bond Bank, Ind.'s series 2003D multipurpose bonds. more »
Jordan Hospital, Mass., Lowered to B-Plus by S&P
Standard & Poor's Ratings Services said it lowered its rating on Massachusetts Development Finance Agency's $78.1 million series 1992B, 1998D, and 2003E bonds issued for Jordan Hospital to B-plus from BB-minus. more »
Moody's Upgrades National to Baa1
Following MBIA Inc.'s recent positive mortgage putback settlements, Moody's Investors Service upgraded its rating and assigned a positive outlook. more »
Market Post: Munis Hold Despite Treasury Selloff
The tax-exempt market held its ground amid a weaker Treasury market as traders said munis were no more than a basis point or two weaker. more »
FOMC Minutes: May Need to Move Away from Fed Funds Rate
The Federal Reserve will consider an alternative to the federal funds rate to indicate short-term interest rate levels, according to the minutes from the FOMC's April 30-May 1 meeting, which were released Wednesday. more »
East Ramapo CSD, N.Y., Downgraded to Baa1 by Moody's
Moody's Investors Service said it has downgraded to Baa1 from A2 the underlying rating on East Ramapo Central School District, N.Y.'s $14.4 million in outstanding general obligation debt. more »
St. Peter's Hospital, Mont., Upgraded to A2 by Moody's
Moody's Investors Service said it has upgraded to A2 from A3 the long term bond rating assigned to St. Peter's Hospital's outstanding bonds issued through the Montana Facility Finance Authority. more »
Palm Coast, Fla., Utility Revs Raised to A-Plus by S&P
Standard & Poor's Ratings Services said it raised its rating to A-plus from A on Palm Coast, Fla.'s utility system revenue-secured bonds. more »
"The opportunity for the next leader on the table is well-established. There's a plan on the table," said Thompson. (Image: Bloomberg News)
Harrisburg Mayor Ousted
Bookstore owner Eric Papenfuse defeated incumbent Linda Thompson and city controller Dan Miller in the Democratic primary in distressed Harrisburg, Pa. more »
Market Post: Munis Flat as Bernanke's Testimony Pushes Treasuries Higher
A rally in the Treasury market following Federal Reserve Board Chairman Ben Bernanke's testimony to the Congressional Joint Economic Committee, that removing monetary policy accommodation now could halt the recovery, left munis unaffected Wednesday morning. more »
Bernanke: Early Tightening Could Choke Recovery
Removing monetary policy accommodation now would not create conditions that would sustain higher interest rates and could halt the economic recovery, Federal Reserve Board Chairman Ben S. Bernanke told the Congressional Joint Economic Committee Wednesday. more »
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Commentary - When It May Be Virtually Free to Be Tax Free
Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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