Economy

San Diego’s regional planning agency is trying to figure out what the world will look like after the pandemic recedes.

In two municipal bond transactions, Aegis Capital Corp. sold to its customers at prices that were 40% higher than the market rate.

Munis were stronger across the curve as secondary trading was constructive and bellwether credits moved yields lower.

They assumed their jobs over the past year in the face of a pandemic, civil unrest and financial uncertainties, and in an industry often set in its ways.

Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.

The Electric Reliability Council of Texas and CPS Energy, the public utility of the city of San Antonio, were downgraded after the cold weather power crisis.

Among over 1,200 dealers registered with the MSRB, 21 firms are bank dealers who would be impacted by the change.

A conversation with Rodney Slater and Bill Shuster

Limited-size audiences are returning to live events in New York. Shutdowns from the coronavirus have hit the sports, arts and entertainment industries hard.

Institutional pricing of New York City and competitive deals from Baltimore and Cambridge, Mass., should help give a sense of where yields are heading, while Ohio offers up GOs for a market that's been little changed for three days after a large sell-off.

The sell-off in the back half of February brought negative 1.59% returns for the month and a negative 0.96% return for the year so far. Taxables and high-yields fared slightly better.

Brazos Electric Power Cooperative filed for bankruptcy saying it can't pay the electric bills foisted on it by the state's grid operator, ERCOT.

The state’s transportation investment is estimated at $50 billion over the next decade and the commission’s recommendation is to increase total investment by at least $20 billion more in the next 10 years.

Texas' failure to supply the power needed to save lives in a deep freeze is seen as threat to the state's recruitment of new business investment.

The facility and a majority of bondholders agreed to a restructuring that aims to ease repayment problems not solved by the previous bankruptcy in 2016.

The charges against Ricky Mantei stem from allegations of prearranged trading in violation of his firm's established procedures.

Political uncertainty will elevate bond price volatility for those issuers more dependent on fiscal support. Still, the broader market will benefit from support for education, transportation, and healthcare sectors.

Data released Monday showed economic strength with further improvement ahead. U.S. Treasuries were off by five basis points but municipals saw aggressive eight to 10 basis point swings to higher yields across the curve.

The deep freeze, and Texas power market structure, left the state's public utilities with sky-high wholesale power bills and a trail of burst water pipes.

The Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.