The Treasury Department yesterday auctioned $6 billion of four-year, six-month inflation-indexed notes with a 5/8% coupon, a 3.270% high yield, a price of 92.380436.
The bid-to-cover ratio was 1.81. Tenders at the high yield were allotted 0.49%. The median yield was 3.000%. The low yield was 2.850%.
Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
Photos from The Bond Buyer's Texas Public Finance conference.
The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
"Each party in this deal benefits in some way," said Seema Mohanty, founder of Mohanty Gargiulo.
