Bonds

The Puerto Rico Electric Power Authority would save around $600 million by using renewable energy, according to a regulatory proposal suggesting the switch from the utility’s preferred plan focusing on natural gas. The Puerto Rico Energy Bureau rejected natural gas expansion proposals included in PREPA’s integrated resource plan in an order issued Monday, instead calling
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New Jersey Gov. Phil Murphy pitched a revised $32.4 billion budget Tuesday, that hinges on billions of borrowing and newly enacted taxes to confront a coronavirus-induced revenue gap less severe than initially feared. Murphy’s nine-month fiscal 2021 budget plan proposes $4 billion of bonding through June 2021 to help New Jersey offset revenue losses caused
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A group of former Federal Reserve officials and staffers, including former Vice Chairman Alan Blinder, published an open letter Thursday calling on the U.S. Senate to reject President Donald Trump’s nomination of Judy Shelton to the central bank’s Board of Governors. “Ms. Shelton’s views are so extreme and ill-considered as to be an unnecessary distraction
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The COVID-19 pandemic is accelerating funding risks to Pennsylvania public school districts from online charter schools, because of the commonwealth’s method of funding charter schools, said a report by Janney Capital Markets. Pennsylvania has a developed public online charter option that it offers at no cost to students who choose to enroll. The resident district
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State and local aid from the federal government is likely on hold for at least a few weeks until the Senate comes back from recess and begins contemplating the next coronavirus relief bill. Municipalities were disappointed to see Congress leave for recess before agreeing on a stimulus bill a few weeks ago. Lawmakers at the
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There is widespread agreement among economists that the impact of COVID-19 will be severe. Despite the clear danger the global economy is in, are there any reasons to believe a worst case scenario can be avoided? Kathy Bostjancic, Chief US Economist at Oxford Economics, will examine the short and long term economic implications of COVID-19
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Democrats’ stated goal of ramping up investment in resilient, sustainable infrastructure would bode well for the municipal bond market if presidential hopeful Joe Biden takes office in January. The Democratic Party officially released its 2020 platform during its national convention this week, and unsurprisingly, it’s broadly similar to its platform four years ago. A political
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Expectations of the use of yield curve control may have been dashed by the minutes of the Federal Open Market Committee’s July meeting. “Most judged that yield caps and targets would likely provide only modest benefits in the current environment, as the Committee’s forward guidance regarding the path of the federal funds rate already appeared
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While many companies simply struggled to stay afloat as the coronavirus pandemic raged, new challenges became clear in the later months of the crisis: It’s become harder than ever to acquire new customers as well as to onboard those newly acquired ones. Read more about our methodology. Two-thirds (68%) of respondents to the latest Arizent
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The New York Metropolitan Transportation Authority — which has been a loud advocate for more federal aid — rejected all bids from the Street on its competitive sale of $450 million of Series 2020B transportation revenue bond anticipation notes and instead sold the deal to the Federal Reserve. Municipals were steady to weaker on Tuesday,
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James R. Thompson, Illinois’ longest-serving governor whose legacy is reflected in bond financed projects across the state, died on Friday. He was 84. Before launching his public career, the Republican who lived in Chicago had served as U.S. Attorney for the Northern District and built a reputation for fighting corruption through the prosecution of aldermen
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Despite the Federal Reserve’s changes to its Municipal Liquidity Facility, the short-term borrowing program is still insufficient for struggling agencies such as New York’s Metropolitan Transportation Authority during the COVID-19 economic crisis, a watchdog group said. “The program has not been the infusion of cash that state and local governments struggling from a COVID-caused revenue
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The Securities Industry and Financial Markets Association is suing to block the Securities and Exchange Commission’s temporary order allowing non-dealer muni advisors to facilitate certain private placements of municipal debt. SIFMA said Friday it had filed suit in Federal court in Washington D.C. asking the court to vacate the SEC’s Temporary Conditional Exemption (TCE) from
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