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MBIA Reports Profit Gain for 2014
MBIA Inc.'s net income for the fourth quarter of 2014 decreased from a year earlier as the insurance company completed its first full year of positive earnings since the financial crisis.
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Portfolio manager Michael Pepe is buying bonds with 10-year call provisions and hospital bonds with attractive yields to cope with a flat yield curve and tight spreads as the market awaits higher interest rates. more »
JPMorgan, ranked second among senior managers last year, is losing about six mid- and senior level public finance bankers through a mix of departures, retirements, and one cut, according to industry sources. more »
Alaska plans to issue $163 million of bond anticipation notes and $95 million of general obligation bonds later this month. more »
Municipal bond volume extended its surge in February, once again driven by refundings as issuers continued to take advantage of lower interest rates. more »
Assured Guaranty’s net income for the fourth quarter and 2014 rose as the bond insurer continued to rebuild market share. more »
California plans to price $1.9 billion of general obligation bonds next week, bolstered by upbeat rating reports including a Fitch Ratings upgrade. more »
Trudy Zibit has left her position as managing director at Fitch Ratings after 18 years at the firm. more »
Macomb County, which borders Detroit, is expected to come to market next week with $264 million of retiree health care bonds to pay off all of the outstanding OPEB obligation. more »
Municipal bond borrowing by Midwestern issuers picked up steam last year, rising by 6.9% to $63.5 billion as issuers loosened the reins a bit on new money borrowing and refundings recorded double-digit gains thanks to favorable interest rates. more »
New York's Metropolitan Transportation Authority expects to issue $300 million of transportation bonds next month, said finance director Patrick McCoy. more »
Assured Guaranty, the biggest municipal bond insurer by par value, is poised to rally in the stock market in part because its losses on Puerto Rico debt may turn out to be less than investors fear, according to analysts at BTIG. more »
While all of 2014 was good for bond insurance, it was during the second half of the year that things really took off: volume insured rose 124% in the third quarter 68.4% in the fourth. more »
While municipal bond volume was essentially flat by par value in 2014, there were significant variations from sector to sector. more »

The dialogue over tax reform provides an opening for state and local governments to educate members of Congress and their staff about municipal bonds, how they work and what they do.

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