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%.
Market support for taxables, particularly those from active issuers, remains firm. Taxables are seeing gains of 1.08% year-to-date, or 50 basis points above a UST index gain, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
The market is experiencing a "calm before a potential storm," said Chris Brigati, managing director and CIO at SWBC.
Megan Kilgore is leaving the Columbus, Ohio, city auditor post to launch a technology consulting firm, BKC Group, with Gregg Bienstock.
Two rating agencies dropped their Los Angeles Unified School District outlook to negative from stable.
Lincoln Center's expansion project shows its confidence in its fundraising abilities and future demand but analysts worry about the debt burden.
The former Fed governor's upcoming confirmation hearing will test whether he can satisfy both a president demanding lower rates and a Congress demanding independence.
