Foxx Expects Highway Bill for Christmas
Transportation Secretary Anthony Foxx said he expects Congress to agree on a multiyear highway bill by Christmas.
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The Municipal Securities Rulemaking Board is working with the Securities and Exchange Commission’s Investor Advocate to identify areas in the muni market that could hurt retail investors.  more »
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Christopher Brogdon, the retirement home financier who is facing Securities and Exchange Commission charges, has denied being liable for a particularly problematic deal in new filings with a federal court in Georgia.  more »
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Driven by the expansion of the U.S. federal government’s Medicaid program, spending by states in fiscal 2015 rose to its highest rate in 23 years, according to report released by the National Association of Budget Officers on Thursday.  more »

Career Zone


New York State Assemblyman Phillip Goldfeder, D-Queens, examines outer-borough growth and transit needs in New York City, as well as efforts to harden its water-exposed neighborhoods.

The notion of option-adjusted spread (OAS) is the standard analytical tool for taxable fixed income securities. It is also making inroads into the muni market. Unfortunately the usual implementation for munis is flawed, rendering the results virtually meaningless. So it is understandable that many muni professionals shy away from OAS in favor of the archaic ‘yield-to-worst’ approach. Correct implementation would undoubtedly attract converts.

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