Vallejo Plan Would Give Unsecured Creditors 5 to 20 Cents on the Dollar — Jan. 19Unsecured creditors got 5 cents to 20 cents on the dollar for their claims under a bankruptcy reorganization plan for Vallejo, Calif.
Report: Defaults Overhyped — Jan. 20The Center on Budget and Policy Priorities said fears about municipal defaults and bankruptcies are greatly exaggerated.
Moody’s Sees Worse To Come — April 27Analysts warned that 2011 would be the toughest year for state and local governments since the economy tanked in 2008.
Mournful Muni Experts See End of an Era — May 6Market experts lamented that lower municipal bond volume might be here to stay as state and local governments tighten their belts and the federal government cuts spending.
Firms Manage With Slim Pickings — May 17Municipal bond bankers confronted with fewer deals to underwrite say they are getting creative and aren’t having second thoughts about their commitment to the underwriting business.
Tax-Exemption Efforts Send Lobbyists Scrambling — June 20Lobbyists got to work launching campaigns for states and local governments to protect tax-exempt interest for municipal bonds against cost-cutting efforts in Congress.
Munis and Treasuries Get Crazy — Aug. 4A “flight to quality” sent investors flocking to Treasuries and municipals.
U.S. Downgrade Will Have Impact on Munis — Aug. 6The downgrade of the United States by Standard & Poor’s to AA-plus from AAA reverberated through the municipal bond market.
Obama Proposal Stuns Market — Sept. 14President Obama’s proposal to cap tax-exempt interest for higher-income taxpayers shocked market participants, including muni issuers who said such a development could result in about $10 billion more in added interest costs.
Jefferson County Finally Files for Bankruptcy — Nov. 9Jefferson County, Ala., filed the largest municipal bankruptcy in U.S. history, saying it could not come to terms with creditors over restructuring $3.14 billion of defaulted sewer debt.
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In a recently released survey by the Citizens Budget Commission, New Yorkers said they are feeling much less safe, with only 37% rating public safety in their neighborhood as excellent or good, down from 50% in 2017.
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Congestion pricing proponents claim it will reduce gridlock, improve air quality in Manhattan and boost ridership on the MTA, which has never recovered its pre-pandemic ridership levels.
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Most of the selling during tax season happens on the front end of the curve, said Wesly Pate, senior portfolio manager at Income Research + Management.
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"Now that the first phase of Miami Worldcenter is complete and the second phase is underway, our team is issuing bonds backed by the TIF package, which will help defray the cost of the improvements made in the district," the development team said.
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Absolute yields "remain attractive in the context of the trading range over the past three years and our longer-term projections for lower rates this year," according to J.P. Morgan strategists.
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Supply chain disruptions and economic impacts are raising concerns.
March 27