NEW YORK— A look at the 10 biggest volume decliners on New York Stock Exchange at the close of trading:. The shares fell$. 16 or. 6 percent to $25.70. Blackrock Florida Municipal Bond Trust: Approximately shares changed hands, a 100.0 decrease from its 65- day average volume.» Read More
Wall Street is dipping back in to the junk bond market after the rout in high-yield corporates resulted in record outflows just a week ago.
Securities regulators have filed fraud charges against the state of Kansas, alleging offering documents failed to disclose risks to investors.
WASHINGTON, Aug 11- The U.S. Securities and Exchange Commission said on Monday it has charged Kansas with fraud for not properly disclosing funding problems with its public pension plan, in the third time the federal regulator has taken action against a state.
WASHINGTON, Aug 1- Issuance of U.S. municipal bonds fell steeply in July, with sales for the first seven months of 2014 running 15.4 percent below the same period last year, according to Thomson Reuters data released on Friday. Total sales in July were $25.6 billion, 23.8 percent below June and 10 percent below the $28.4 billion sold in July 2013.
July 30- Franklin Resources Inc said on Wednesday investors withdrew $400 million from its municipal bond funds in the latest quarter, a trend that may continue in the short term on worries over Puerto Rico's chronic fiscal woes.
July 30- Franklin Resources Inc said on Wednesday investors withdrew $400 million from its Templeton municipal bond funds in the latest quarter, a trend that may continue in the short term on worries over Puerto Rico's chronic fiscal woes.
July 30- Franklin Resources Inc Chief Executive Gregory Johnson said Wednesday that investors made net withdrawals of $400 million from the company's Templeton municipal bond funds during the fiscal third quarter, a trend that may continue in the short term as they fret over Puerto Rico's chronic fiscal woes.
CEO JOHNSON SAYS HEADLINE RISK AROUND PUERTO RICO MAY CONTINUE TO HURT MUNI BOND FLOWS IN THE SHORT TERM.
FRANKLIN RESOURCES CEO SAYS TEMPLETON U.S.
July 25- Detroit released a revised debt adjustment plan on Friday that details the role of a post-bankruptcy monitor and sets up a reserve fund to possibly enhance recoveries for certain creditors.
Brian Zwerner, a former manager of Bank of America's municipal derivatives desk, was sentenced to spend three years on probation and pay a $10,000 fine by U.S. According to court papers he has also agreed to pay Bank of America $890,000 and settle related U.S. Securities and Exchange Commission civil charges.
NEW YORK, July 25- Puerto Rico's worsening debt crisis is pushing the managers of some municipal junk bond exchange-traded funds to ditch their mandate for passive management.
NML Capital Ltd said the government refused to negotiate through a mediator and was all but preparing to default on already restructured debt.
Moody's downgraded the general obligation bonds of Atlantic City, New Jersey to "junk," citing the casino town's declining tax base.
NEW YORK, July 23- Standard& Poor's said on Wednesday it had raised New York state's debt rating by one notch, putting it just under a top investment grade, due to the state government's stronger budgeting practices.
Momentum is building toward a deal that would make painful losses inevitable for investors holding about $20 billion in Puerto Rican bonds.
July 23- Momentum is building toward a deal that would make painful losses inevitable for investors holding about $20 billion in bonds issued by Puerto Rico's highway, water and electricity authorities even as some big U.S. mutual funds launch a legal battle to squelch a new law that authorizes a restructuring.
CHICAGO, July 22- Illinois Governor Pat Quinn on Tuesday signed legislation to fund state-wide transportation projects with $1.1 billion of bonds. However, according to Abdon Pallasch, the state's assistant budget director, no bond sales are currently planned for the rest of 2014..
Documents filed in U.S. Bankruptcy Court show the city's current and retired police and fire employees, along with other active and retired city workers, will accept benefit cuts to help Detroit shed some of its $18 billion of debt in the largest-ever U.S. municipal bankruptcy case.
SHANGHAI, July 18- A Chinese construction company at risk of declaring a landmark bond default on nearly $65 million is getting local political support to hold off creditors and get cash, state media reported on Friday, citing sources at the struggling firm.