A change in the credit cycle may be in store for the municipal bond market as the combination of wider-than-average credit spreads and a rising-interest-rate climate threaten to restrain demand for high yield paper.
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Julie Egan, the new chair of the National Federation of Municipal Analysts, wants to increase NFMAs visibility in the municipal market in 2017 and push regulators for more improvements to muni disclosure. more »
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. more »
The Government Finance Officers Associations 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. more »
Municipal market analysts are concerned that Municipal Securities Rulemaking Board data shows more issuers are giving themselves 270 days after the end of their fiscal years to file annual financial information. more »
House Financial Services Committee Republicans have floated a revised version of a their Financial CHOICE Act that would require the Securities and Exchange Commission to review municipal market and other self-regulatory organizations' inefficiencies as well as reform its enforcement process more »
House and Senate members have reintroduced companion bills that would allow state and local governments to issue up to $5 billion of private activity bonds to finance the repair or construction of schools and other public buildings under public-private partnership arrangements. more »
The House Financial Services Committee intends to review municipal bond regulators and other aspects of the capital markets with an eye toward rolling back certain programs, according to an oversight plan from the committee. more »
Market participants and others signed up for email alerts from the Municipal Securities Rulemaking Boards EMMA website can now specify the types of continuing disclosure filings they would like to be notified of related to the securities they choose to follow. more »
Long-term municipal bond issuance is expected to fall to $417.5 billion this year from $423.8 billion last year, according to a survey released by the Securities Industry and Financial Markets Association on Wednesday. more »
Citigroup Global Markets, Inc. has agreed to pay a $250,000 fine after the Financial Industry Regulatory Authority found rule violations including the failure to report accurate interest rate reset information for 251,507 variable rate demand obligation securities. more »
Regina Shafer, USAA's Assistant Vice President of fixed-income mutual fund portfolios, recently joined Bond Buyer reporter Chip Barnett to discuss 2017's hot topics -- healthcare and infrastructure. She also looks at market performance, interest rates and correctly forecast muni bond fund flows.
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