Bonds

New Hampshire Republicans seizing control of both chambers in the state legislature grants GOP Gov. Chris Sununu increased power to enact fiscally conservative policies, analysts said. Republicans flipped the previously Democratic-held New Hampshire state Senate and House of Representatives and reelected Sununu to a third term on Election Day. The Granite State swing gives the
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Municipal bond market participants want the next U.S. Secretary of Transportation to have more issuer experience and understand the inner workings of the muni bond market. Many candidates on the table for the next Secretary of Transportation have experience as issuer officials or as legislators dealing with tax issues, which gives localities some comfort. “When
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New Jersey’s $3.7 billion tax-exempt COVID-19 emergency bond deal was oversubscribed to the tune of $40 billion, repriced by as much as 20 basis points to lower yields, coming amid a stronger municipal market Tuesday. The strong demand amid a dearth of new municipal issuance by states and a search for yield also allowed New
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The effect of coronavirus is constantly felt by Americans, both in their daily lives and in their financial well-being. While the first stimulus package delivered some financial relief starting in April through Economic Impact Payments (EIP), there were several glitches in the first stimulus package, partially due to the lack of direct deposit access for
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President-elect Joe Biden’s infrastructure policy will focus on investments in railways, technology upgrades, and resiliency as the former vice president and longtime senator will seek to deliver where Donald Trump did not. That was the message delivered Thursday during an American Association of State Highway and Transportation Officials virtual conference by John Porcari, co-chair of
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Despite reports that a vaccine is close, the coronavirus pandemic overshadowed the news, with consumer sentiment falling and Federal Reserve Bank of St. Louis President James Bullard reiterating what the Fed has been saying: health issues will determine how the economy rebounds. The producer price index rose 0.3% in October, after a 0.4% rise in
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New Jersey heads into the market next week to sell $4.3 billion of general obligation bonds on Nov. 18 to offset revenue the losses caused by the COVID-19 pandemic. The deal will test the state’s low bond ratings — punctuated by another downgrade ahead of the deal — against the market’s continuing demand for paper.
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A customer smokes marijuana at the Lowell Cafe, a cannabis lounge in West Hollywood, California. On Election Day, Arizona, Montana, New Jersey, and South Dakota voters agreed to legalize recreational marijuana. Mississippi and South Dakota voters legalized medical marijuana.Bloomberg News Statewide referendums on taxes had mixed results on Election Day while eight measures in five
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Municipal bonds strengthened on Thursday after a one-day break in the trading week. Yields on top-quality bonds fell as much as four basis points on the intermediate- to long-end of AAA curves. Yields on U.S. Treasuries dropped as much as nine basis points. “Coronavirus resurgence has cities and states planning on, if not already executing,
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Legislative action to respond to Illinois’ gaping state budget hole won’t come before January after the General Assembly canceled its fall veto session. Democratic leaders who control the House and Senate announced the decision Tuesday amid a dramatic rise in COVID-19 cases in the state capital. I’m very very focused on making sure that our
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Chicago O’Hare International Airport’s debt-fueled expansion plans combined with the COVID-19 pandemic’s air travel blows led Moody’s Investors Service to move the airport’s rating outlook to negative. Moody’s affirmed the A2 rating on $1.1 billion of general airport revenue bonds and $419 million of passenger facility charge-backed bonds while revising the outlook from stable. The
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U.S. Supreme Court Justices on Tuesday heard arguments in California v. Texas, a case that seeks to overturn the Affordable Care Act. The lawsuit, filed by a Texas-led coalition and later supported by the Trump Administration, argued that a Republican-led Congress rendered the ACA’s individual mandate unconstitutional when it reduced the penalty for forgoing coverage
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