Washington

Insurance companies and banks have collectively reduced their municipal bond holdings by $102 billion, or 10% in just nine months in 2023.

The Senate Budget Committee gave municipal bonds center stage Wednesday.

The Fed, financial markets, the upcoming election and AI took center stage on at the Executives' Club of Chicago's Annual Economic Outlook panel.

Republicans are threatening to try to overturn the rule through the Congressional Review Act.

The Governmental Accounting Standards Board's new disclosure requirements focus on concentrations and constraints and governments will have to comply by June 15, 2024.

House Republicans want 2024 appropriations offset with cuts from "COVID-era slush funds."

"It's inevitable there will be spending cuts," said Emily Brock, federal liaison for the Government Finance Officers Association.

Without admitting or denying the findings, David Elgart of Sequoia Investments has agreed to a $20,000 fine and an 18-month suspension from association with any FINRA member firm for acting as an unregistered dealer.

The muni market enters this year from a relative position of strength, said Jeff Lipton, managing director and head of municipal research and strategy at Oppenheimer.

The Senate Committee on Homeland Security and Governmental Affairs unanimously passed the bill in October.