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 California Supreme Court will hear a case challenging the state's 2013 pension changes, after seemingly settling the issue with a 2020 ruling.
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The "impressive" investor appetite for tax-exempts has been "holding steady all quarter despite expensive valuations, supply surges and periods of low reinvestment demand," said GW&K Investment Management strategists in a report.
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As space becomes an increasingly important frontier for development and competition, spaceports should enjoy the same financial benefits as airports and seaports, say supporters of the federal legislation.
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The governor should have involved the legislature earlier in decision making on how to give the Water and Power Authority money to make a bond payment, lawmakers said.
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A Utah law may be tapped to issue bonds to renovate a downtown Salt Lake City basketball arena to accommodate the former Arizona Coyotes.
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Along with UBS' departure from the negotiated underwriting space, various firms have hired talent from both firms to increase their primary and secondary market presence. Many hope for some positive effects in both competition and secondary market liquidity as a result.
April 24