The Treasury Department said Wednesday it will raise $3.997 billion of new cash at its weekly auction of 91-day and 182-day discount bills today by selling $42 billion to refund $38.003 billion in maturing securities. To be sold are $22 billion of 91s, dated Nov. 29 and due Feb. 28, 2008, and $20 billion of 182s, dated Nov. 29 and due May 29, 2008.
"April has been one of the worst-performing months over the past five years, which we believe warrants continued caution," BlackRock strategists said.
The public finance industry has been tracking the growth of the IRS budget with concerns that funding boosts would translate into higher audit rates for bond transactions.
Los Angeles Mayor Karen Bass aimed high in her State of the City speech just days before she will release a budget that needs to close a nearly half-billion-dollar deficit.
"We believe in this," Transportation Secretary Pete Buttigieg said.
The firm said Saporito's hiring is among several other additions made to beef up Wells Fargo's commitment to munis.
While Kansas' sales tax and revenue (STAR) bond program recorded its first default late last year, Bonner Springs is considering using it for a development that includes a Mattel toy-themed amusement park.
