The Securities Industry and Financial Markets Association recommends muni and other fixed income markets open on Wednesday, October 31, after being shut down for a day and a half because of the devastating effects of Hurricane Sandy. SIFMA made the recommendation Tuesday. The group, which recommended an early market close Monday and a full close Tuesday, rarely makes such recommendations. It called for an early close for a hurricane in 1996 and the market was closed for three days for the 9/11 terrorist attacks. SIFMA’s recommendations are not binding on firms. The group said each of its member firms should decide for themselves whether their fixed-income departments remain open for trading. The group said all of its recommendations are subject to change due to market conditions.
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The competitive sale comes as the market prepares for a very New York-heavy week next week in the primary.
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"We, the city of Philadelphia proper, we can't do it alone," Parker said in a keynote address at The Bond Buyer Infrastructure conference Tuesday. "We are grateful to our state and our federal partners, as well as the bond market."
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For municipals, Wednesday "marks a crucial step forward, perfectly aligned with the current risk landscape," said James Pruskowski, chief investment officer for 16Rock Asset Management.
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The Republican presidential nominee reverses course on his own policy
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"It's great people are thinking about creative solutions, but don't forget the rules still apply," said the SEC's Dave Sanchez.
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Up to $182 million of bonds will be issued by a city of Frisco entity to renovate Toyota Stadium, home to Major League Soccer's FC Dallas.
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