Bonds

This week’s quarterly MSRB board meeting was the first presided over by Mark Kim as CEO.Dan Nelken The Municipal Securities Rulemaking Board will seek comment on a new draft rule related to solicitor municipal advisors and look for volunteers to serve on two advisory committees. Those decisions came out of the MSRB’s first quarterly board
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As the environmental, social and governance market grows within the municipal market, Moody’s Investors Service this week withdrew its Green Bond Assessment product for various corporate and muni bonds after pivoting to using its affiliate Vigeo Eiris to designate sustainable/ESG investments. This move follows the recently announced formation of the Moody’s ESG Solutions Group and
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With interest rates at historic lows and despite its poor credit ratings. New Jersey’s decision to tap the muni market instead of the Federal Reserve’s lending program for a planned $4 billion borrowing is seen as a prudent strategy by analysts. Opting for long-term general obligation bonds to cover coronavirus revenue losses makes more sense
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The COVID-19 pandemic has caused uncertainty, which brought on market volatility. Add in next month’s election, the failure of the government to reach another stimulus deal, and the possibility that low rates may stimulate asset bubbles when things get better, and you may look at the markets and say it could be worse. “Volatility barely
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When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly. In this panel discussion from this year’s DigMo event, Phil Shoemaker, President of Originations at Home Point Financial, Tammy Richards, COO of loanDepot and Bob Brandt, Vice
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Immediately after the complete list of The Bond Buyer’s fifth class of Rising Stars is revealed at the start of the program, Editor in Chief Mike Scarchilli sits down with three members of the newly minted class of standout municipal finance professionals under the age of 40 to discuss the muni market’s adaptation to and
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Better-than-expected reads on Thursday’s economic data indicates the slow rebound continues. Initial jobless claims declined to a seasonally adjusted 787,000 in the week ended Oct. 17, from the previous week’s downwardly revised level of 842,000, originally reported as 898,000, the Labor Department said Thursday. Economists polled by IFR Markets projected 860,000 claims in the week.
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Puerto Rico’s employment numbers continued to improve in September. According to the U.S. Bureau of Labor Statistics household survey total employment in September was up 0.25% from August and 1.6% from April. The bureau also collects an establishment survey of nonfarm employment, called Current Employment Statistics, which showed employment was up 7% since April. It
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Chicago’s fix for a $1.2 billion 2021 budget shortfall and remaining 2020 COVID-19 pandemic tax wounds count on $948 million of relief through a $1.7 billion refinancing and restructuring of general obligation and Sales Tax Securitization Corporation debt. Chicago Mayor Lori Lightfoot’s proposed 2021 budget totals $12.76B when counting all funds, including a $4 billion
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CommonSpirit Health will price $2 billion of debt Wednesday in a deal that raises some new money while taking the next steps in its tinkering with the combined debt portfolio of Dignity Health and Catholic Health Initiatives. The Chicago-based system took indications of interest Tuesday on the nearly $1.5 billion of index-eligible taxable paper with
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Lisa Washburn, managing director at Municipal Market Analytics spoke during a virtual panel Monday afternoon. A wide array of muni market leaders are hopeful that their efforts will inspire more disclosure without a need for strict regulation and future rulemaking. During the second annual Government Finance Officers Association MiniMuni virtual conference, issuers, broker-dealers, securities lawyers
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Roberto RuizStifel, Nicolaus & Co. Title: DirectorFirm: Stifel Age: 37 Roberto Ruiz, a director in Stifel’s San Francisco office, was drawn to public finance by time spent studying in China after he earned his undergraduate degree in psychology. While teaching English and studying Mandarin, Roberto took notice of the infrastructure popping up around him, which
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A record $1.9 billion capital package is headed to Minnesota Gov. Tim Walz’ desk after lawmakers signed off on the long-stalled package that had gotten caught up in House GOP opposition to Walz’ emergency pandemic powers. “This bonding bill is a smart investment that will create thousands of good-paying jobs, deliver improvements to local projects
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