The Treasury Department said yesterday it will raise $6.998 billion of new cash at its weekly auction of 91-day and 182-day discount bills Monday by selling $37 billion to refund $30.002 billion of maturing securities. To be sold are $19 billion of 91s, dated Jan. 10 and due April 10, and $18 billion of 182s, dated Jan. 10 and due July 10. Federal Reserve banks hold $12.408 billion of maturing bills in their own accounts, all of which may be refunded. Also maturing is an estimated $23 billion of publicly held four-week Treasury bills, the disposition of which will be announced Jan. 7.
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The competitive sale comes as the market prepares for a very New York-heavy week next week in the primary.
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"We, the city of Philadelphia proper, we can't do it alone," Parker said in a keynote address at The Bond Buyer Infrastructure conference Tuesday. "We are grateful to our state and our federal partners, as well as the bond market."
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For municipals, Wednesday "marks a crucial step forward, perfectly aligned with the current risk landscape," said James Pruskowski, chief investment officer for 16Rock Asset Management.
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The Republican presidential nominee reverses course on his own policy
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"It's great people are thinking about creative solutions, but don't forget the rules still apply," said the SEC's Dave Sanchez.
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Up to $182 million of bonds will be issued by a city of Frisco entity to renovate Toyota Stadium, home to Major League Soccer's FC Dallas.
4h ago