Washington

The Internal Revenue Service has taken no action regarding tax-exempt refunding bonds that were issued for Gettysburg College in 2010, after closing an audit that appears to have been randomly initiated.

SEC and MSRB officials responded to the concerns and frustrations of bond lawyers who were meeting in Chicago.

Federal Reserve Chairman Jerome Powell played down the signal being sent by a flatter yield curve and said the risk of recession was not especially high.

SIFMA is publishing a new model document that it says should help underwriters avoid regulatory risk.

The two regulatory agencies are working to ensure a seemless transition to another benchmark when Libor is phased out in 2021.

Indications of a more hawkish sentiment at the Fed may continue to pressure tax-exempt yields higher, particularly on the short end of the curve.

The letter initiated by Rep. Leonard Lance of New Jersey threatens congressional oversight measures if passenger rail line funds are not released.

The amount of outstanding variable rate demand bonds rose to $142.4 billion in the second quarter of this year, a gain over $142.2 billion in the first quarter and the end of a decade-long decline, Moody’s Investor Service said in a recent report.

Federal Reserve Board Chairman Jerome Powell said the removal of “accommodative” from the post-Federal Open Market Committee meeting statement doesn’t “represent a change in policy.”

Federal Reserve officials raised interest rates for a third time this year and reaffirmed their outlook for further gradual hikes well into 2019, risking fresh criticism from President Donald Trump.