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Prices of top-shelf municipal bonds closed lower on Friday, according to traders, as yields on some maturities rose by as much as four basis points.
June 26
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The Illinois State Toll Highway Authority is issuing up to $400 million of toll-backed revenue bonds next month, the first of two new-money borrowings to finance a record year of capital spending.
June 26
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A federal judge in Alabama has ordered mediation in the Securities and Exchange Commissions pay-to-play suit against two ex-JPMorgan bankers involved in Jefferson County sewer deals.
June 26
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Municipal volume is forecast to drop 45% as a holiday shortened week brings the second quarter to a close.
June 26
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Prices of top-rated municipal bonds were weaker at mid-session, traders said, ahead of next weeks $3.3 billion new issue slate. According to Ipreo, volume for next week totals $3.26 billion, up from a revised total of $7.53 billion, according to Thomson Reuters. There are $2.83 billion of negotiated deals scheduled for next week and $432.5 million of competitive deals slated.
June 26 -
As the Municipal Securities Rulemaking Board continues to gather information on bond ballot contributions and weigh its regulations on the topic, concerns about possible pay-to-play issues from the contributions are already finding their way into the public eye.
June 26 -
The possibility of an underfunded capital plan begs the question of whether the MTA, already a large municipal issuer, may have to borrow even more.
June 26
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After one of the busiest trading days in two weeks, the municipal bond market is now turning its gaze toward the upcoming holiday-shortened trading week, which will be highlighted by a Texas issuer.
June 26
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Indicator Last Report Forecast Actual Initial Claims 6/13: 267,000 6/20: 272,000 6/20: 271,000 Continuing Claims 6/6: 2.222M 6/13: 2.215M 6/13: 2.247M Personal Income April: +0.4% May: +0.5% May: +0.5% Consumption April: 0.0% May: +0.7% May: -0.3% Core PCE Prices April: +0.1% May: +0.1% May: +0.2% Markit Services PMI May: 56.2 June: 56.8 June: 56.4 Kansas City Fed May: -13.0 June: 0.0 June: -0.9
June 26 -
Jun. 26, 2015 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.3 1.49 2.4 3.38 California Aa3/A/A 0.33 1.54 2.56 3.55 Hawaii Aa2/AA/AA 0.34 1.57 2.51 3.51 Idaho Aa1/AA+/AA+ 0.3 1.55 2.5 3.49 Montana Aa1/AA/AA+ 0.3 1.54 2.51 3.51 Nevada Aa2/AA/AA+ 0.36 1.63 2.56 3.58 Oregon Aa1/AA+/AA+ 0.3 1.5 2.42 3.43 Washington Aa1/AA+/AA+ 0.33 1.55 2.55 3.58 Wyoming NR/AAA/NR 0.3 1.53 2.42 3.4
June 26 -
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6/25/2015 6/18/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 2 $97,320 0 $0 $97,320 California 21 1,134,907 21 858,730 276,177 Hawaii 0 0 0 0 0 Idaho 0 0 0 0 0 Montana 0 0 0 0 0 Nevada 0 0 0 0 0 Oregon 0 0 0 0 0 Washington 3 48,850 9 385,325 -336,475 Wyoming 0 0 0 0 0
June 26 -
For the eighth week in a row, municipal bond funds reported outflows, bringing to 11 out of 26 weeks this year the funds have seen cash withdrawals.
June 25
