CHICAGO — Minneapolis-based Wells Fargo & Co. late last month announced the hiring of Paul Blomgren to serve as a fixed-income strategist in its institutional brokerage and sales group. “We are very excited to have Paul join us,” John McCune, head of the group, said in a statement. “Paul’s background and expertise make him an extremely valuable asset to our team and in helping our customers succeed financially.” Blomgren previously worked at Stifel Nicolaus & Co. as an institutional sales representative. He also has previously worked as a fixed-income trader and a fixed-income analyst during his 15-year career in financial services.Under the structure of Wells Fargo’s brokerage group, salespersons, traders, and analysts often work on both corporate and tax-exempt deals. The firm has been on a hiring spree in public finance since 2006 when its managers said they were seeking to double revenues by 2010.
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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.
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The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.
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It's a time of change, challenge and opportunity in the infrastructure and P3 space, Patrick Harder said.
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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