The European Central Bank announced that its Governing Council raised interest rates 25 basis points, as expected, at its latest monetary policy meeting Thursday.
The minimum bid rate on variable-rate refinancing operations was increased to 1.50% from 1.25%, the marginal lending rate was hiked to 2.25% from 2.00%, and the deposit rate, the floor for euro money market rates, rose to 0.75% from 0.50%.
"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.
