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New York investment banker CastleOak Securities, L.P. has hired a co-head of municipal finance and two new fixed income sales professions.
August 7 -
The transportation infrastructure funding crisis facing governments at all levels is providing a "silver lining" in finance innovation as state governments are turning increasingly to such new tactics as variable-rate fuel taxes and mileage-based user fees, according to a report released this week by the National Conference of State Legislatures.
August 7 -
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Defense Secretary Leon Panetta's confirmation that new rounds of military base closures would not happen in 2013 benefits privatized military housing as a credit, rating analysts say.
August 6 -
Table as of: 08/03/2012 16:09 PM Invisible Supply Issuer and purpose Amount
August 6 -
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New York State Comptroller Thomas DiNapoli announced the appointment of Vicki Fuller as the new chief investment officer for the $150.3 billion New York State Common Retirement Fund.
August 3 -
The municipal market, sliding leisurely through its slow season, anticipates a slight uptick in issuance the week of Aug. 6. Industry estimates hold that muni bonds expected to be sold during the week should total $6.35 billion, versus a revised $5.93 billion last week. Then, the market waded through a sluggish week in the primary and secondary that did little to yields, which continue to hover near record lows.
August 3 -
State governments have had a major role in how municipalities deal with fiscal distress, says HJ Sims director of credit analysis Richard Larkin.
August 3 -
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Table as of: 08/03/2012 10:26 AM Invisible Supply Issuer and purpose Amount
August 3 -
Stockton, Calif., is proposing to temporarily cut personnel costs by 6.6% while permanently cutting payments on the Assured-insured pension obligation bonds by 83%, the company said.
August 2 -
Flows to municipal bond mutual funds fell this week, but they still remain positive. The market saw a sluggish week of mostly stagnant yields and mixed interest for product in the primary and secondary markets. Muni bond funds reported almost $504 million of inflows from funds that report their flows weekly for the week ended Aug. 1, according to Lipper FMI. They have seen inflows for 16 consecutive weeks.
August 2 -
A sluggish municipal market failed to gain any momentum this week. But although muni yields underperformed those of Treasuries, they only weakened by an incremental factor in the belly of the curve. They remain near record lows across the curve. Muni indexes were higher on the week beyond the short end of the curve, which reached its lowest point in the 23 years it has been tracked.
August 2
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Moody's Investors Service has put bond insurer Syncora Guarantee on review for an upgrade from Ca. This is due to Syncora receiving a $375 million settlement from Bank of America.
August 2 -
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