The Federal Reserve yesterday announced the results of its term-auction facility, selling $55.763 billion of 28-day credits at a 0.250% stop-out rate, the lowest rate at which the offering amount clears, which is the sole rate awarded to all the successful bids. The bid-to-cover ratio was 0.74. The average bid of the 83 bidders was $672 million.
Last year, 23 active ETFs launched along with nine passive ones. While the first quarter of the year bucks that trend as one active ETF launched compared to three passive ones, things could change the rest of the year, analysts say.
Fitch Ratings on Monday echoed a prior move by Moody's Ratings to revise the state's outlook to negative.
Muni advocates are watching Congress move towards a second reconciliation bill that may not require any provisions that pay for funding DHS, and the possibility of a third, tax-focused bill.
Veteran public finance banker Shawn Dralle has joined Los Angeles County as assistant-treasurer tax collector.
With no rate change expected, analysts look at Fed chair nominee Kevin Warsh and how investors should position.
Three universities in the Northeast found a market for their bonds despite larger headwinds for the higher education sector in the region.
