Taylor Riggs

Jefferies & Co. has hired a new managing director in its municipal trading business, one of its first muni hires this year.

Against a backdrop of investors continuing to pull money from tax-exempt bond funds, the municipal market’s first-ever exchange-traded fund to focus specifically on closed-end muni funds has launched.

MBIA Insurance Corp. voluntarily dismissed with prejudice its case against Bank of America Merrill Lynch, prompting analysts to speculate that a settlement could be reached soon.

The biggest deal expected this week is Wednesday's $760 million taxable and tax-exempt offering from the Dormitory Authority of the State of New York, which will be priced by Wells Fargo. A retail order period on Tuesday will precede institutional pricing.

Credit losses in the municipal bond market for U.S. property and casualty insurance companies are projected to remain low, but the market is still at risk due to high muni exposure, according to a Moody's Investors Service report.

Credit losses in the municipal bond market for U.S. property and casualty insurance companies are projected to remain low, but the market is still at risk due to high muni exposure, according to a Moody's Investors Service report.

Ambac Financial Group, the bankrupt holding company for bond insurer Ambac Assurance Corp., filed a plan of reorganization in bankruptcy court this week, but quickly came under criticism from the Wisconsin regulator in charge of overseeing Ambac Assurance.

The New York Supreme Court ruled that rating agencies must produce internal documents pertaining to securities issued by Countrywide Home Loans Inc. and insured by MBIA Insurance Corp.

Underwriters and investment managers continue to expand their municipal teams despite slow business this year, as firms realize there is an increased need for independent credit research.

Low issuance has made the underwriting business more competitive as the top three underwriters battle to maintain their market share.

The municipal market can expect $1.3 billion of new issuance for this holiday-shortened week, down dramatically from last week’s revised $8.1 billion.

Municipal bond issuance remains about half of what it was last year, with volume for the first six months down almost 44%.

A New York appeals court ruled that bond insurer MBIA Insurance Corp. can proceed with fraud claims against Countrywide Home Loans Inc., when the court Thursday denied Countrywide's motion to dismiss the case.

Acacia Financial Group Inc. has opened an office in the heart of Manhattan as the financial advisory firm looks to gain additional market share in the Northeast.

Bank policyholders suing MBIA Inc. over its $5 billion restructuring are now able to pursue claims in court after the New York State Court of Appeals reinstated the lawsuit.

NEW YORK - The New York State Court of Appeals reinstated a $5 billion fraudulent conveyance and breach of contract lawsuit brought by bank policyholders against MBIA Inc.

For the ninth consecutive quarter, U.S. public finance rating downgrades outnumbered upgrades during the first quarter of 2011, according to a new report by Fitch Ratings.

A court-appointed judicial hearing officer who previously had said e-mails sent between New York Insurance Department officials showed bias regarding the restructuring of bond insurer MBIA Insurance Corp. last week reversed his decision.

The municipal bond market will see $5.6 billion of new issuance this week, with two $1 billion dollar deals topping the charts. Issuance is down from last week's revised $5.8 billion, according to Thomson Reuters.

Historic low issuance in the municipal space is not stopping firms from attempting to increase their market presence.