Headlines for April 23, 2014
Former Bank of America executive Douglas Lee Campbell received no fine or prison from federal Judge Kimba Wood for his role in rigging municipal bond contracts.
U.S. Bankruptcy Judge Steven Rhodes tapped Martha Kopacz of Phoenix Management Services to act as a municipal finance expert witness reviewing Detroit's bankruptcy exit plan, and Richard Ravitch as a consultant to the court.
Jefferson County, Ala.'s attorneys say petitions appealing the county's bankruptcy exit plan fail to address legal matters and contain "tangential allegations."
An Orange County, Calif. citizens' group says it will file a lawsuit in an attempt to invalidate $265 million in bonds issued for an expansion to the Anaheim convention center.
The Utah Transit Authority is privately placing $144 million of subordinate sales tax revenue bonds to reduce variable-rate exposure.
The judge overseeing Detroit's bankruptcy ordered the city back into mediation with limited-tax GO bondholders and water and sewer holders in a renewed effort to reach settlements.
Miami Gardens, Fla., voters authorized the city to issue $60 million of general obligation bonds April 21. It would be the city's first issuance of GOs.
Moody's revised its outlook on Bucks County, Pa., to negative, affecting $387 million in general obligation bonds and GO-guaranteed debt.
St. Louis-based SSM Health Care heads into the market Wednesday with a $260 million sale that represents one piece of a roughly $1 billion debt restructuring aimed at streamlining and trimming the system's annual interest costs.
Massachusetts is preparing to offer another round of so-called green bonds to investors, state Treasurer Steven Grossman said on Earth Day.
The state of California sold $750 million of general obligation bonds in a competitive deal on Tuesday, with Wells Fargo submitting the winning bids.
An Oklahoma group seeking $500 million of state bonds for school storm shelters will begin a new petition drive in May.
New York Comptroller Thomas DiNapoli has proposed legislation to give money to fiscally-stressed localities to hire financial advisors for long-term budget planning.
Gov. Tom Corbett announced the investment of $41.7 million in 13 nonpoint source, drinking water and wastewater projects across 12 Pennsylvania counties.
Actor Alec Baldwin will visit Rhode Island on June 7 to help raise money for the Adams Memorial Library in formerly bankrupt Central Falls.
Municipal bond prices were mixed to lower in a hesitant market Tuesday, but at least one bond seller came out on top.
Existing home sales inched down 0.2% to a seasonally adjusted 4.59 million-unit rate in March from an unrevised 4.60 million pace the previous month, the National Association of Realtors announced Tuesday.
California's political watchdog is investigating whether school officials failed to report gifts from municipal bond underwriter Stone & Youngberg
The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.015% high yield, a price of 99.998833.
A $750 million California general obligation competitive deal is set to prop up the municipal primary calendar Tuesday. The muni market is coming off the lowest week of issuance since Feb. 20, with just $2.05 billion of new bonds offered last week, and buyers are hungry for fresh paper.
The Treasury Department Tuesday auctioned $32 billion of two-year notes with a 3/8% coupon at a 0.447% yield, a price of 99.856801.
Wells Fargo Bank won the competitive auction for $750 million of California general obligation bonds Tuesday afternoon, the state Treasurer's office confirmed.
John Matsikoudis, former senior underwriter at Loop Capital Markets, has been hired by CastleOak Securities to continue the growth of its municipal sales and trading business.
Kutak Rock LLP has added veteran public finance attorney Debbie Boye to its Chicago team.
A bill introduced in the House earlier this month would renew empowerment zone and renewal community designations, allowing certain areas to be eligible again for tax incentives including empowerment zone facility bonds and qualified zone academy bonds.
Researchers at three universities are looking into the development and future vision for high-speed rail in the United States.
Former Bank of America executive Douglas Lee Campbell received no fine or prison from federal Judge Kimba Wood for his role in rigging municipal bond contracts.Multimediamarkets
A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
Upcoming Eventsthe bond buyer conferences
May 1- 2, 2014Hyatt Regency, Baltimore, MD
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