Tax Legislation
Gradual BAB Drop Predicted
House Counsel: 28% Rate Unlikely
By Peter Schroeder | Mar 9Any congressional extension of the Build America Bonds program will likely come with a gradual drop in the subsidy rate, and lawmakers may never reduce the rate to the 28% the Obama administration proposed in its fiscal 2011 budget, the top lawyer for the House tax-writing committee told treasurers meeting here yesterday. [FREE]
Detroit Plans Deficit-Easing Debt
$250M Deal With State-Aid Backing
By Caitlin Devitt | Mar 9Detroit will enter the market Thursday with $250 million of state aid limited-tax general obligation bonds that the city will use to erase a chunk of its accumulated deficit. [FREE]
Chicago-Area Pension Plan Ratios Get Worse
By Yvette Shields | Mar 9The funded ratios of 10 Chicago-area government pension plans further deteriorated in fiscal 2008, driving their unfunded liabilities up to $18.5 billion from $3.4 billion a decade earlier as steep investment losses exacerbated the already poor position of most of the funds, according to a new report from a local watchdog group.
N.Y. Gov. Paterson Awaits Briefing On Ravitch Deficit-Borrowing Plan
By Ted Phillips | Mar 9New York Gov. David Paterson has long railed against deficit borrowing to help the state out of its fiscal mess, but such a plan could be under discussion, the governor said yesterday.
SEC Commissioner Meets With Officials Over Disclosure Reform
By Andrew Ackerman | Mar 9A Securities and Exchange Commissioner, who caused a furor among issuers last fall by calling for the repeal of the Tower Amendment and securities law exemptions for municipal securities issues, has begun meeting with them to get their views on what actions the SEC should take.
Other Headlines
Market News
Regional News
- Two Arizona Universities Offering Bonds for Hard Times
- San Antonio Utility Sets $380M BAB Deal
- Moody’s Lowers Dallas’ Outlook to Negative
Washington
This Week's Top 5 Issues
| Amount | Issuer | St | Description | Sale Date |
Sale Time |
|---|---|---|---|---|---|
| $2,000,000 | CA | 03/11/10 | 9am ET | ||
| $711,160 | DC | 03/10/10 | 9am ET | ||
| $670,530 | CT, MI, TN, WI, TX | 03/10/10 | 9am ET | ||
| $582,045 | NY | 03/09/10 | 9am ET | $538,860 | MA | 03/10/10 | 9am ET |
Weekly Indexes
| Current | Previous | High (last 12-months) | Low (last 12-months) | |
| Rev. Bond | 4.93% | 4.94% | 5.90% | 4.69% |
|---|---|---|---|---|
| 20-Bond | 4.34% | 4.36% | 5.16% | 3.94% |
| 11-Bond | 4.06% | 4.07% | 4.94% | 3.69% |
| 1-Yr. Note | 0.40% | 0.41% | 1.09% | 0.40% (all time) |
Today's Top Competitive Issues
| Amount | Issuer | St | Description | Sale Date |
Sale Time |
|---|---|---|---|---|---|
| $217,395 | CA | 03/09/10 | 12:30pm ET | ||
| $140,930 | CA | 03/09/10 | 11:30am ET | ||
| $29,195 | CA | 03/09/10 | 1pm ET | ||
| $15,935 | IA | 03/09/10 | 1pm ET | ||
| $13,225 | MO | 03/09/10 | 11:30am ET |
