Bloomberg Outage Stifles Some Muni Trades
A network interruption brought down the financial market’s largest inventory management system Friday morning, stifling municipal bond trading on some platforms and highlighting highlighted vulnerability of the market to technological failures.
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The Metropolitan Water District of Southern California is well situated to deal with the state’s drought and prepare for the next one, the chief financial officer told a standing-room-only crowd at JPMorgan’s now annual public finance transportation and utility conference in New York.  more »
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David D. Hart, former Denver Public Schools chief financial officer and senior vice president of D.A. Davidson, has joined Public Financial Management as an advisor, the company said.  more »
Bond Buyer Markets Reporter Chip Barnett
Prices of top-rated municipal bonds finished out the week little changed, according to traders, as the market worked off the week’s hefty volume. Almost $8 billion of bonds came to market during the week ended April 17, according to Thomson Reuters, with the calendar consisting of about $5.4 billion of negotiated deals and $2.6 billion of competitive sales.  more »

Although defaults have not yet occurred, it is not too early for holders to take a hard look at the applicable bond documents to evaluate their rights and leverage in the restructurings or refinancings that have begun and which may proliferate in the years ahead.

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