A quote from Municipal Market Advisors’ Matt Fabian in a story about auction-rate bonds yesterday mischaracterized the parties that historically have bought up bonds to prevent a failed auction. The broker-dealers have played this role in the past by buying bonds in an auction that appears likely either to fail or to reset at unreasonably higher yields.
Ohio politicians are racing to deliver relief as a citizens group gathers signatures for a November 2026 ballot initiative to end property taxes in the state.
As the "slope of the municipal yield curve remains extremely steep and long bonds are cheap relative to U.S. Treasuries," Daryl Clements, a portfolio manager at AllianceBernstein, predicts "long municipal bonds have a long way to go until they are considered fair value."
A group of bondholders are floating fresh financing to a bankrupt metals recycler that elevates their bonds above other holders.
Minnesota plans to go to market Sept. 23 with a $1.27 billion general obligation bond sale.
Andrew Nakahata will replace Scott Wu as executive director and CEO less than a year after joining the organization.
Bond attorneys are eyeballing the possibility of attaching a tax title to the surface transportation reauthorization that could include issues of great interest to the municipal bond community as the appropriations process remains stuck in first gear.
