| Government Securities Prices | 10-year: 99 16/32 to yield 2.81, down 18/32 30-year: 98 1/32 to yield 3.86, down 27/32 |
|---|---|
| Municipal Bond Index | 111 30/32, down 16/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 12/03) | Total: $11.423 billion, up $703.9 million Competitive: $2.374 billion, up $169.3 million Negotiated: $9.049 billion, up $534.6 million |
| The MuniCenter List | Offering total: $10.226 billion, up $1.422 billion |
Treasurer John Fleming is pushing back against a proposal in the state Legislature that would make changes to the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
Despite higher yields, muni to UST ratios remain rich. Ratios look "progressively richer" moving into the five- to 10-year part on the curve, with the 10-year spot "still far more attractive in taxables versus tax-exempts," J.P. Morgan said.
The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.
It's a time of change, challenge and opportunity in the infrastructure and P3 space, Patrick Harder said.
The meeting was attended by trade organizations, MSRB board leadership, Finance Committee members and MSRB senior staff.
The Federal Emergency Management Agency is asking for an additional $9 billion for this year in hopes they don't run out of funds in August as they're currently slated to.
