Vallejo Plan Would Give Unsecured Creditors 5 to 20 Cents on the Dollar — Jan. 19Unsecured creditors got 5 cents to 20 cents on the dollar for their claims under a bankruptcy reorganization plan for Vallejo, Calif.
Report: Defaults Overhyped — Jan. 20The Center on Budget and Policy Priorities said fears about municipal defaults and bankruptcies are greatly exaggerated.
Moody’s Sees Worse To Come — April 27Analysts warned that 2011 would be the toughest year for state and local governments since the economy tanked in 2008.
Mournful Muni Experts See End of an Era — May 6Market experts lamented that lower municipal bond volume might be here to stay as state and local governments tighten their belts and the federal government cuts spending.
Firms Manage With Slim Pickings — May 17Municipal bond bankers confronted with fewer deals to underwrite say they are getting creative and aren’t having second thoughts about their commitment to the underwriting business.
Tax-Exemption Efforts Send Lobbyists Scrambling — June 20Lobbyists got to work launching campaigns for states and local governments to protect tax-exempt interest for municipal bonds against cost-cutting efforts in Congress.
Munis and Treasuries Get Crazy — Aug. 4A “flight to quality” sent investors flocking to Treasuries and municipals.
U.S. Downgrade Will Have Impact on Munis — Aug. 6The downgrade of the United States by Standard & Poor’s to AA-plus from AAA reverberated through the municipal bond market.
Obama Proposal Stuns Market — Sept. 14President Obama’s proposal to cap tax-exempt interest for higher-income taxpayers shocked market participants, including muni issuers who said such a development could result in about $10 billion more in added interest costs.
Jefferson County Finally Files for Bankruptcy — Nov. 9Jefferson County, Ala., filed the largest municipal bankruptcy in U.S. history, saying it could not come to terms with creditors over restructuring $3.14 billion of defaulted sewer debt.
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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.
April 17 -
The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.
April 17 -
It's a time of change, challenge and opportunity in the infrastructure and P3 space, Patrick Harder said.
April 17 -
The meeting was attended by trade organizations, MSRB board leadership, Finance Committee members and MSRB senior staff.
April 17 -
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.
April 17 -
The SEC won its case against Richard Ganci and Richard Tortora of Capital Markets Advisors over conflicts of interest present in their fee arrangement in connection to a $119 million offering for the City of Rochester, New York.
April 17