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Large deals in New York and New Jersey -- led by New York City's $900 million general obligation bond refunding -- are expected to spark high demand this week due to their specialty state status despite an otherwise lackluster primary market dulled by the seasonal summer pullback in issuance.
August 10
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Detroit launched a tender offer program for holders of $5.2 billion of water and sewer bonds Thursday night, offering tender prices that range from a high of 118 cents on the dollar to a low of 72.5 cents on the dollar as it aims for a massive refinancing that will end a months-long battle with water and sewer bondholders.
August 8 -
Municipal bonds on the intermediate part of the curve outperformed long term maturities, producing a positive return with less volatility in the past 18 months, according to Granite Springs Asset Management.
August 8 -
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The Bond Buyer's muni bond indexes were narrowly mixed in the week ending Aug. 7.
August 7 -
Bond insurer Syncora Guarantee Inc., Detroit's fiercest opponent in the city's bankruptcy case, said it is already gearing up for appeals process assuming the city's plan is confirmed in a trial set to start later this month.
August 7 -
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Bankrupt Detroit has floated a plan asking holders of $5.2 billion of water and sewer bonds to tender their debt, allowing the city to refinance in an effort to achieve savings.
August 6 -
T. Rowe Price recently launched an Intermediate Tax-Free High-Yield Fund targeting investors who are worried about protecting their principle in the face of potentially higher interest rates yet comfortable with some extra risk.
August 6 -
Transportation Secretary Anthony Foxx is urging voters to press lawmakers for a long-term solution to federal highway funding before the end of 2014, but industry experts don't expect Congress to take action until spring 2015 at the earliest.
August 6
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The National Association of Water Companies wants the Treasury Department to clarify tax rules so that state and local governments can ensure the tax-exempt bonds they used to finance their water and wastewater facilities will not become taxable if they enter into public-private partnerships.
August 5
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Rhode Island's Tobacco deal has been put on day to day status by Citigroup following a lawsuit from two Oppenheimer Rochester funds.
August 5
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Shortening duration, buying premium bonds, and minimizing risk are three paths municipal managers are taking as the second half of 2014 gets under way in anticipation of higher interest rates.
August 4
