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Michigan Gov. Rick Snyder said the state will commit up to $350 million to pay off Detroit's pension debt and protect its prized art collection, in what would be the state's first significant intervention in the historic bankruptcy.
January 22
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The judge overseeing Detroit's bankruptcy case turned down a request by bond insurers and other major creditors to weigh in on the fate of the city's art collection.
January 22 -
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The Detroit bankruptcy judge Wednesday will consider a motion by bond insurers and other major creditors asking for a formal role in the assessment of the city's art collection and ways to monetize it.
January 21
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Bipartisan group of eight U.S. senators have joined 50 House members to support a proposed national infrastructure bank funded with $50 billion of 1% bonds.
January 21
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The Massachusetts pension reserves investment trust fund returned 15.2% in calendar 2013, marking an investment gain of $7.9 billion, according to the Pension Reserves Investment Management board.
January 21
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The primary market will be dominated by new-issue activity in the Northeast, led by a $1 billion Port Authority of NY & NJ consolidated bond issue that will be part of $5 billion of new volume expected.
January 19
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Municipal bonds continued to rally the past week, with U.S. economic data suggesting a slow recovery just as mutual funds showed renewed investor interest in tax-exempt bonds
January 17
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DOT expects the main federal highway infrastructure fund to run dry in August and post a $100 million deficit before the end of the fiscal year.
January 17
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Municipal bond demand should increase in 2014 in an environment of expected higher interest rates, improved economic growth, lower issuance and richer valuations to Treasuries.
January 17
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Bond insurer Syncora Guarantee Inc. asked the bankruptcy court overseeing Detroit's Chapter 9 case to delay the city's effort to secure a $120 million debtor-in-possession financing, saying the loan may need to be restructured in light of the court's rejection of a related swaps settlement.
January 17
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The Bond Buyer's weekly yield indexes plunged in the week ended Jan. 16.
January 16 -
In another sign of the improving tenor of the municipal bond market, muni mutual funds recorded their first inflows in 34 weeks, Lipper FMI numbers showed.
January 16 -
Bankruptcy Judge Steven Rhodes rejected a $165 million settlement with Detroit's interest-rate swap counterparties, delivering a major blow to the swap counterparties and a victory for the city's bond insurers, retirees, and pension funds.
January 16
