The federal government ran an estimated $1.17 trillion deficit for the first 11 months of fiscal year 2012, nearly $70 billion less than the deficit last year at that point, according to Congressional Budget Office estimates.
Revenues rose about 6%, while outlays grew 2% through August, the CBO projected. In its latest projections, the CBO estimated a $1.13 trillion deficit for fiscal year 2012 (which will end on September 30, 2012), about $175 billion less than last year's shortfall.
"Bond market investors are all wishing that April was behind us as they are anxious to hear the Fed's statement at its next FOMC meeting," noted BofA Global Research. "The statement should be no surprise as the market consensus has converged to 'higher for longer' rates.
CDIAC's revamped website, which launches May 1, will offer accessibility to state and local debt from issuance through maturity; and the ability to create summary reports based on search features.
The Governmental Accounting Standards Board is looking for feedback on disclosure requirements related to infrastructure projects.
The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.
With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
