Yesterday’s story about remarks at a federal policy conference inaccurately described how the Internal Revenue Service plans to process payment requests for direct-pay Build America Bonds. IRS officials stated that while staff will manually evaluate applications for the payments, the actual payment delivery system is automated. They said the entire process from evaluation to delivery of payments will take 45 days.
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
