Organization Root Tag

The new corporate tax incentive legislation includes an annual cap for a key component, in an effort not to repeat the mistakes of its predecessor program.

The tentative schedule includes $2.3 billion of new money and $4.6 billion of refundings and reofferings, state Comptroller Thomas DiNapoli said.

The Federal Reserve has returned about $42 billion to the U.S. Treasury, and will soon transfer another $20 billion in excess funds connected to emergency lending facilities that stopped offering new loans last month.

It was inevitable that muni yields would need to rise somewhat as the UST 10-year broke above 1%, however participants said the supply/demand imbalance will keep munis from rising as quickly as Treasuries. More than $1 billion inflows reported.

Budget woes await the state's lawmakers as they convene but Illinois' bonds are benefitting from a Blue Wave, vaccine distribution, and hunger for higher yielding credits.

John Hallacy, founder of John Hallacy Consulting LLC, talks about the most important opportunities and challenges the municipal bond market will face in 2021. He gives his estimate on where muni volume may be headed, discusses the possibility of a federal infrastructure program and talks about what to expect under a Biden Administration. Chip Barnett hosts. (Recorded Dec. 22; 22 minutes)

Three of seven board members will be from the original group.

The top 20 more than doubled the gains of their fixed-income industry peers.

FOMC members backed maintaining asset purchases, although “a couple” were “open” to “weighting purchases of Treasury securities toward longer maturities,” according to minutes released Wednesday.

Sources expect funding to be put to use quickly compared to the CARES Act since many cities since stood up programs to provide pandemic related aid to households and small businesses.

Bond attorneys said the new rules fill in some holes because the IRS previously only had a process for tax-exempt bonds.

Federal Reserve officials unanimously backed holding the pace of asset purchases steady when they met last month.

Some economists say the changes, such as a rise in minimum wage, would be a negative for the local economy.

The aid is in response to Hurricanes Irma and Maria, which hit the island more than three years ago.

The spending plan the governor will release Friday will include a $4.5 billion economic recovery package in the wake of the coronavirus pandemic.

Park Place at Elmhurst would restructure and redeem $141 million of bonds issued to exit its 2016 Chapter 11 under a plan pending before a bankruptcy court.

The National Association of Bond Lawyers wrote to the IRS in November 2019 asking for a significant reduction in the fee.

As it reaches its 50th year in business, Ramirez ranks 15th industry wide among all negotiated and competitive underwriters with 47 deals totaling $6.1 billion in 2020.

Lynnette Kelly started new positions at the Financial Accounting Foundation and at the Milken Institute.

Federal Reserve Bank of Chicago President Charles Evans says monetary policy will need to remain “accommodative for quite a while,” since inflation won’t hit a 2% average for “a long time.”