Subject Root Tag

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.

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.

Michigan is bringing $855 million of state trunk line fund bonds to market Tuesday for road and bridge projects.

That expansion wholly depends on Washington actually bringing back the taxable product and making it permanent, a diminishing scenario in 2021.

The city sees room for a new convention hotel, despite nearby competition and pandemic-related setbacks.

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.

Federal Reserve Bank of Minneapolis President Neel Kashkari said the spread of the Delta variant of COVID-19 could keep some Americans from looking for work, potentially harming the U.S. recovery.

Daily report for August 02, 2021

NOTICE IS HEREBY GIVEN that, pursuant to the terms of the governing document dated as of July 28, 2011, between City of Los Angeles, as Issuer, and U.S. Bank National Association, as Trustee or Agent, that the bonds listed below have been selected for Full Redemption on September 1, 2021 (the Redemption Date) at the price listed below of the principal amount (the Redemption Price) together with interest accrued to the Redemption Date.

Muni participants await a new month with growing issuance, but perhaps not quite enough as issuers are hesitant to add more debt before final word from Washington on infrastructure.

July volume was $31.9 billion keeping the annual pace ahead of last year's record-breaking total. Issuance still lags demand by a large amount — $60 billion by many accounts for August alone — as redemptions coupon payments pile up.

Revenues were also ahead through the first 11 months of fiscal 2021.

Detroit Mayor Mike Duggan warns the revisions threaten the city's post-bankruptcy fiscal progress, but the charter commission calls the claim greatly exaggerated.

The money is coming in through the federal American Rescue Plan and the Coronavirus State Fiscal Recovery Fund.

J.B. Pritzker signed legislation to move the Chicago Board of Education to an elected 21-member board from the seven-member panel now appointed by the mayor.

Financial markets “are very well prepared” for the Federal Reserve to start tapering its massive asset-purchase program in the fall, St. Louis Fed President James Bullard said.

The two issuances under IRS scrutiny join an earlier debt issuance the county disclosed publicly late last year.

COMMENCEMENT OF CHAPTER 9 CASE. On May 24, 2021, Western Community Energy (“WCE”) commenced a case under chapter 9 of title 11 of the United States Code (“Bankruptcy Code”) in the United States Bankruptcy Court for the Central District of California, Riverside Division (“Court”). The chapter 9 case is pending before the Honorable Scott H. Yun, United States Bankruptcy Judge. All documents filed with the Court are available for inspection via the PACER system, which may be accessed on a subscription basis at the following internet address: https://pacer.uscourts.gov/.

Will the sector embrace the global trend toward greater transparency?

Federal Aviation Administration approval of the $2.1 billion transit connector revived heated debate over an undertaking that Gov. Andrew Cuomo has championed.