NEW YORK - The European Central Bank announced its Governing Council raised interest rates by 25 basis points, effective with operations to be settled on April 13, at its latest monetary policy meeting Thursday.
The minimum bid rate on variable-rate refinancing operations increased to 1.25% from 1.00%, the marginal lending rate rose to 2.00% from 1.75%, and the deposit rate, the floor for euro money market rates, was pushed up to 0.50% from 0.25%.
Munis are experiencing a correction driven by high issuance and misaligned muni-UST ratios, according to Kim Olsan of NewSquare Capital. However, investors seem interested in the new, higher yields.
An index of AMT bonds has gained 1.84% year-to-date, outperforming a broad non-AMT index by 92 basis points.
Senior bondholders will take a nearly 70% haircut.
As the public backlash against data centers begins to influence politics around the beltway, industry supporters point to the effects of tax revenue generated at the local level.
Cloud tech and AI are two of the most important and impactful technologies for the development and operation of many analytical and optimization tools for the municipal market, company representatives say.
Budgets for Houston, Austin, Dallas, and Fort Worth come amid credit quality improvements and calls from Gov. Greg Abbott to rein in local government spending.
