The Securities Industry and Financial Markets Association recommends muni and other fixed income markets open on Wednesday, October 31, after being shut down for a day and a half because of the devastating effects of Hurricane Sandy. SIFMA made the recommendation Tuesday. The group, which recommended an early market close Monday and a full close Tuesday, rarely makes such recommendations. It called for an early close for a hurricane in 1996 and the market was closed for three days for the 9/11 terrorist attacks. SIFMA’s recommendations are not binding on firms. The group said each of its member firms should decide for themselves whether their fixed-income departments remain open for trading. The group said all of its recommendations are subject to change due to market conditions.
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The week was a long-awaited reckoning with record supply, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
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The meeting will be held on July 23 and 24.
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Randall "Randy" Miller, Chad Miller and Jeffrey De Laveaga were charged by the SEC with creating false documents that were provided to investors in two municipal bond offerings.
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The National League of Cities rolled out its annual report showcasing the challenges facing mayors, including the end of BIL funding and a steady diet of uncertainty about the flow of future federal dollars.
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The House cuts are less severe than those proposed in President Donald Trump's 2026 budget.
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Schools and governments turn to bonds to cover payouts in the wake of a California law that temporarily lifted the statute of limitations on sex abuse claims.
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