Municipal Bonds


  • NEW YORK, Feb 26- Bondholders are split on a proposed bill to give Puerto Rico's ailing public agencies a way to restructure debt under U.S. bankruptcy law, with some saying it would give confidence to the market and others arguing it is a "Wild West" solution. The bill to give Puerto Rico's agencies the ability to file under Chapter 9 of the U.S. bankruptcy code- used by...

  • SAN JUAN, Puerto Rico— Puerto Rico on Thursday was hit with its second debt downgrade in a week as the U.S. territory's government pushes to overhaul its tax system to help generate more revenue amid an economic recession. Moody's Investors Service downgraded $48 billion worth of Puerto Rico debt, warning that the island might default on its debt in the next two...

  • Feb 12- Standard& Poor's said on Thursday it had downgraded Puerto Rico's general obligation debt by three notches, deeper into junk territory, citing a judge's decision to void the U.S. commonwealth's plan for debt restructuring. The credit ratings agency lowered Puerto Rico's GO debt rating to B from BB, citing the island's potential inability to pay its debts,...

  • Own Puerto Rico bonds? Pro sees a 'silver lining' Wednesday, 11 Feb 2015 | 2:44 PM ET
    Alexandra Lebenthal

    Investors who already own slipping Puerto Rico bonds may not need to fret if they are insured, a municipal bond expert said.

  • Tempted by Puerto Rico bonds? Be careful: Expert Tuesday, 10 Feb 2015 | 2:47 PM ET
    File photo: Public water utility workers fix a pipe in Old San Juan.

    Puerto Rico bonds are too risky for the average investor, but for those who want in, here's what to avoid, one muni bond expert said.

  • Puerto Rico hurtles toward financial catastrophe Tuesday, 10 Feb 2015 | 10:08 AM ET
    File photo: Old San Juan

    A judge's ruling threatens a plan for Puerto Rico to avert financial catastrophe, and that could pose big problems for hedge funds. The NYT reports.

  • SAN JUAN/ NEW YORK, Feb 9- Puerto Rico said on Monday it would appeal a U.S. ruling that voided the island's restructuring law, saying it left it in legal limbo and struggling to find a way to manage its debt load. "We are left deprived of the only instrument available to manage our debt in an organized form," Puerto Rico Justice Secretary Cesar Miranda said in a statement.

  • Low rates helping fuel a huge muni debt run Wednesday, 4 Feb 2015 | 12:23 PM ET
    Construction work on a road reconstruction project.

    Muni bond issuance soared past $27 billion for the biggest January in five years and a harbinger that the market could be in for a huge year.

  • Feb 2- President Barack Obama on Monday put an initial four-year price tag of $1.3 billion on his proposal for a new type of municipal bond to spur public-private partnerships for infrastructure projects. In his $3.99 trillion U.S. budget proposal, the tax-exempt Qualified Public Infrastructure Bonds would cost $4.8 billion over about the next decade, from...

  • US probes Moody's over mortgage ratings: Report Sunday, 1 Feb 2015 | 3:47 PM ET
    Turnagain Arm on July 15, 2014 in Anchorage, Alaska.

    Moody's Investors Service is under investigation by the U.S. Justice Department for some of its mortgage ratings, according to a report.

  • Wisconsin finds a way around a thorny tax debate Friday, 30 Jan 2015 | 11:52 AM ET
    Wisconsin Governor Scott Walker

    Gov. Scott Walker's proposal for funding the new Milwaukee Bucks arena is unusual, but is it a good bet for investors?

  • WASHINGTON, Jan 26- The $3.7 trillion U.S. municipal bond market will benefit from a recent delay in implementing part of the Dodd-Frank financial reform law known as the Volcker Rule, Moody's Investors Service said on Monday. Last month Congress passed legislation giving banks extra time to comply with the rule. The implementation delay until July 2017 will "...

  • Jan 23- Moody's Investors Service slashed Atlantic City's credit rating six notches deeper into junk territory on Friday, a day after New Jersey Governor Chris Christie appointed an emergency manager with a mandate to consider a debt restructuring. Atlantic City has about $344 million of long-term debt outstanding. The order from Christie to consider a...

  • Shenzen-based Kaisa said on Monday it had missed interest payments to investors in its offshore dollar bonds, that many of its bank accounts had been frozen and that a mainland China court had frozen more than $100 million of assets of one of its units. Kaisa's founder and chairman left the company in December, triggering an acceleration of repayment of a loan...

  • WASHINGTON, Dec 31- Sales of new U.S. municipal bonds in 2014 will exceed 2013' s total, Thomson Reuters data showed on Wednesday, a twist ending to a year that began with shrinking supply. Preliminary data shows issuance for 2014 was likely $314.95 billion, 1 percent more than the $311.86 billion sold in 2013. The increase was from refinancing, with refunding bonds...

  • Short bonds in 2015?  Friday, 26 Dec 2014 | 12:01 PM ET

    The "FMHR" traders provide their outlook for bonds in 2015. Sarat Sethi, Douglas C. Lane & Associates, explains why he would not short bonds in the coming year.

  • Party in muni bonds may not last: Lebenthal Wednesday, 24 Dec 2014 | 12:15 PM ET

    Muni bonds had a great year but don't assume that the party will continue into 2015, says Alexandra Lebenthal.

  • Run away from Puerto Rico muni bonds: Analyst Wednesday, 24 Dec 2014 | 9:06 AM ET
    A general view of a power station of Puerto Rico Electric Power Authority, in San Juan, March 24, 2014.

    Investors should avoid buying municipal bonds from Puerto Rico, Alexandra Lebenthal, president and CEO of Lebenthal Holdings, tells CNBC.

  • Run away from Puerto Rico munis: Lebenthal  Wednesday, 24 Dec 2014 | 8:04 AM ET

    Alexandra Lebenthal, Lebenthal Holdings CEO, shares insight to the municipal bond market and why investors should stay away from Puerto Rico municipal bonds.

  • Moody's cuts Alaska's outlook to negative on oil Tuesday, 16 Dec 2014 | 5:57 PM ET
    Turnagain Arm on July 15, 2014 in Anchorage, Alaska.

    Moody's Investors Service on Tuesday cut Alaska's outlook to negative from stable, citing the recent oil price weakness.