The Treasury Department Wednesday auctioned $16 billion of 30-year bonds with a 4 1/4% coupon at a 4.320% high yield and a price of 98.829162.
The bid-to-cover ratio was 2.31. Tenders at the high yield were allotted 82.04%. The median yield was 4.220%. The low yield was 4.100%. Tenders totaled $36,921,884,600 and the Treasury accepted $16,000,004,600, including $34,634,600 of noncompetitive.
Federal Reserve banks also bought $429,030,600 for their own accounts.
While Kansas' sales tax and revenue (STAR) bond program recorded its first default late last year, Bonner Springs is considering using it for a development that includes a Mattel toy-themed amusement park.
Brodie Killian has moved to PFM from Stifel Nicholas & Co., joining its Ann Arbor office as a director.
April continues to be "harsh" for munis as the asset class has given up roughly 72 basis points in the first two weeks of the month, said Jason Wong, vice president of municipals at AmeriVet Securities.
The city may have to make deeper cuts next year if voters don't approve two tax increases headed for the November ballot, if the City Council approves.
The most recent open solicitation period, last October, yielded three proposals.
Treasury representatives said Friday that they will be issuing further guidance to help counties deal with the upcoming reporting and compliance deadlines.
