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Detroit, going to battle with its interest-rate swap counterparties, filed a lawsuit seeking to invalidate $1.4 billion of pension certificates that the swaps hedge, saying the borrowing was illegal from the start.
February 3
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Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.040% high rate, down from 0.055% the prior week, and the six-months incurred a 0.060% high rate, off from 0.065% the week before.
February 3 -
The municipal market was flat to one basis point higher Monday morning as traders continue to digest Friday's major headlines and prepare for an estimated $4.46 billion of new volume.
February 3 -
The Treasury Department said Monday it will sell $8 billion of four-week discount bills Tuesday.
February 3 -
The overall economy grew for the fifty-sixth straight time, while the manufacturing sector expanded for the eighth consecutive month, the Institute for Supply Management reported Monday.
February 3 -
Construction spending rose 0.1% in December, the Commerce Department said, 5.3% above the December 2012 level.
February 3 -
Detroit's bankruptcy plan circulated to creditors last week yields them greater recoveries to creditors than a first offer floated last year, but should still be seen as a rough draft that could change significantly.
February 3
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Detroit has asked the bankruptcy court overseeing its Chapter 9 case to dissolve a committee representing unsecured creditors that the U.S. Trustee said is required under code.
February 3 - Competitive Note Sales
Tuesday, February 4 Issuer St Description Amount
February 3 -
Monday, February 3 Issuer St Description Amount
February 3 - Negotiated Note Sales
Week Of February 3 Issuer St Description Amount
February 3 - Negotiated Bond Sales
Week Of February 3 Issuer St Description Amount
February 3 -
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The state of Illinois will thunder into the primary market this week with a $1 billion sale of general obligation bonds, hoping to feed supply-hungry investors after a sluggish start to the New Year.
February 2
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Detroit late Friday filed a lawsuit challenging the legality of the structure tied to its 2005 sale of pension certificates and controversial swaps linked to the debt.
January 31 -
Negotiations intensified on several fronts as Detroit nears a self-imposed deadline to craft a detailed plan to exit Chapter 9 bankruptcy, with the fate of a debtor-in-possession loan in doubt.
January 31
- Puerto Rico
Puerto Rico Gov. Alejandro García Padilla said Friday that he planned to propose a budget with little or no deficit for the coming fiscal year.
January 31
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After three weeks of rallying, municipal bonds finished the month with a soft week as the market remained largely unchanged Friday.
January 31
