Finance

The Pennsylvania treasurer, who leaves office Tuesday, says municipalities can artificially inflate their bottom lines through these revenue sources.

Friday’s data showed economic weakness. Consumers, the drivers of the economy, pulled back during the holiday season and have exhibited weakening sentiment.

The upgrade precedes the sale of $202 million of taxable refunding bonds next week.

The New York mayor rolled out his $92.3 billion preliminary spending plan with warnings about federal and state variables, more pronounced amid the COVID-19 crisis.

Powell, speaking on a livestreamed event, said interest rates will be raised "no time soon" and there will be plenty of notice "well in advance of active consideration."

Municipal bonds continue to ignore UST and ICI reports $2.67 billion of inflows. While CPI should stay soft through the first quarter, expectations for future inflation should be considered.

Prepaid gas deals were notably absent from 2020's record-breaking municipal market as COVID-19 caused market disruptions for banks that provide credit support.

In their state of the state addresses, the two governors discussed bringing in more revenues.

Muni to U.S. Treasury ratios hover near the lowest point in a decade and analysts see little impetus for munis to catch up in the near term.

Monday’s vote was the start of the process of allowing lawmakers to work on the approximately $12 billion state budget in a conference committee.

The Muni New Issue Upload Form was created to expand access to additional deal participants and streamline the submission process for the forward calendar.

If you are underbanked you probably have limited access to mainstream financial services normally offered by retail banks. Many fintech startups offer alternative ways to measure credit risk, and assert that their products can help extend financial services to consumers who have not been well-served by traditional banks.

Municipals were little changed Monday as participants await the larger new-issue calendar while equities and U.S. Treasuries react to news out of Washington and COVID-19 ravages the globe.

As issuance rose in 2020, so did municipal bond insurance usage, with $34.167 billion wrapped, or 7.5% insured total issuance from almost 5.7% in 2019.

The employment report showed 140,000 decline in nonfarm payrolls in December, but economists found some positives in the numbers.

A new path forward for digital banks and their customers.

The tentative schedule includes $2.3 billion of new money and $4.6 billion of refundings and reofferings, state Comptroller Thomas DiNapoli said.

It was inevitable that muni yields would need to rise somewhat as the UST 10-year broke above 1%, however participants said the supply/demand imbalance will keep munis from rising as quickly as Treasuries. More than $1 billion inflows reported.

John Hallacy, founder of John Hallacy Consulting LLC, talks about the most important opportunities and challenges the municipal bond market will face in 2021. He gives his estimate on where muni volume may be headed, discusses the possibility of a federal infrastructure program and talks about what to expect under a Biden Administration. Chip Barnett hosts. (Recorded Dec. 22; 22 minutes)

FOMC members backed maintaining asset purchases, although “a couple” were “open” to “weighting purchases of Treasury securities toward longer maturities,” according to minutes released Wednesday.