With revenues running lower than expected in 2016, the Texas Legislature will keep a tighter grip on spending despite increasing demands for growth-related funding in the session that begins next month.
In the week ended Dec. 1, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose 12 basis points to 4.35% from 4.23% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.
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Assured’s Dominance Peaks As It Nabs 100% of July’s Market
With the bond insurance industry pretty much all to itself, Assured Guaranty Ltd. solidified its dominant position in the second quarter and captured virtually a 100% share of the municipal bond insurance market in July.