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Pitfalls loom despite improved bond ratings and an improving fiscal picture, according to members of the state's fiscal control board.
August 4
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A compendium of changes in the municipal industry.
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Tighter bidding on bonds 10 years and in pushed high-grade benchmark curves to bump yields.
August 3
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Illinois' single-employer pension plans are straining the budgets and ratings of those local governments without the tax base, flexiblity, and fiscal discipline to tackle rising costs, S&P says in a special report.
August 3
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Sales tax collections in July reflected a strong economy, surpassing that of the same month pre-pandemic.
August 3
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New York's governor denied allegations by state Attorney General Letitia James' office that he engaged in unwanted groping and comments of a sexual nature.
August 3 -
The Michigan Supreme Court sided mostly with the state in a dispute over whether it was meeting local funding obligations under the Headlee Amendment.
August 3
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The board decided last month it would seek commission approval to tweak rules related to mandatory disclosures.
August 3
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President Joe Biden has a tough decision in choosing the next Federal Reserve chair: Play it safe by giving Jerome Powell a second term or take a chance on a liberal like Lael Brainard, who would please progressives in Congress yet potentially agitate Wall Street.
August 3
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Joe Kalish, chief global macro strategist at Ned Davis Research, discusses his thoughts on when the Federal Reserve will announce it will cut back on its asset purchases, the possibility of Chair Jerome Powell’s re-nomination and what to expect from the Jackson Hole summit. Gary Siegel hosts (27 minutes)
August 3
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A municipal analyst for 43 years, Baker was head of MAGNY in 1993 and NFMA in 1997.
August 2
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Federal Reserve Governor Christopher Waller said that if the next two monthly U.S. employment reports show continued gains, he could back an announcement soon on scaling back the central bank’s bond purchases.
August 2
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Municipals returned 0.83% in July with a year-to-date return of 1.90%. High-yield returned 1.20% in July and 7.40% year-to-date. Taxables led July with 1.65% returns and 1.95% for the year.
August 2
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The board recommended federal policymakers talk with Puerto Rico’s government about ways to increase pharmaceutical and medical products manufacturing on the island to expand economic development.
August 2
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Michigan is bringing $855 million of state trunk line fund bonds to market Tuesday for road and bridge projects.
August 2
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That expansion wholly depends on Washington actually bringing back the taxable product and making it permanent, a diminishing scenario in 2021.
August 2
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The city sees room for a new convention hotel, despite nearby competition and pandemic-related setbacks.
August 2
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Federal Reserve Board Gov. Lael Brainard staked out some different ground from Chair Jerome Powell as the policy makers await a presidential decision on who should lead the central bank in the coming four years.
August 2
