The Federal Reserve announced today it will set a 1.11% minimum bid on its $150 billion 28-day term auction facility credit, which sold yesterday.
Results will be announced at 10 a.m., Eastern Time, on Tuesday, with Thursday as the settlement date. The loan matures Nov. 20.
The Fed set a minimum bid amount of $5 million per bid, with a maximum of $15 billion per institution.
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
The law firm revealed 2024 promotions.
As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.
The extension of the current solar net metering system could lower revenue for the utility.
The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
