In yesterday's Market Column, we inaccurately reported the North Texas Tollway Authority ratio of fixed-rate debt on today's $2.3 billion revenue bond deal. The original plan called for 10% of the debt to be unhedged variable rate. The new plan approved by the NTTA board at a special meeting yesterday increases the unhedged variable-rate offering to 30%.
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Lawmakers in Illinois have proposed legislation to consolidate the Chicago Transit Authority, Metra, Pace and the Regional Transportation Authority.
3h ago -
April's "poor performance" pushed munis further into negative territory, but "despite the poor start to the year, they may still end the year positive," said Cooper Howard, a fixed-income strategist at Charles Schwab.
May 7 -
The driving force behind the trend is the overall strength of the economy, according to Fitch Ratings' Michael Rinaldi. Revenue sources for municipalities, such as sales and property taxes, are doing very well.
May 7 -
Syncora and GoldenTree Asset Management want an accounting of what happened to PREPA net revenues.
May 7 -
The MSRB's move to a one-minute reporting standard was questioned in a House hearing Tuesday in the context of regulation that could go too far.
May 7 -
"It'll be very interesting to see when an event happens or the market get sloppy, what the secondary market does," said a sellside panelist at a Bond Buyer market outlook panel in Florida.
May 7