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Municipal Bonds

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  • *Beijing wants local govt to swap debt into muni bonds. SHANGHAI, April 10- China's promise to allow more bond defaults so markets can accurately price investment risk is being undermined by the government's own mixed messages, and bond investors are still betting that Beijing will come to their rescue. In March China's Finance Ministry said local governments...

  • Fund manager: This will end badly Tuesday, 7 Apr 2015 | 4:25 PM ET
    Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.

    Investors need to be wary of fixed income overall and municipal bonds specifically, says fund manager Christopher Ryon.

  • NEW YORK, March 24- A turnaround team tasked with reviving Atlantic City says New Jersey's struggling gambling hub must consider cost cuts, layoffs and longer bond maturities, but bankruptcy is not in the cards- yet. "Bankruptcy is not something that we are contemplating," said emergency manager Kevin Lavin on a conference call on Tuesday. Atlantic City's tax base...

  • The bull case for munis   Friday, 13 Mar 2015 | 12:15 PM ET
    The bull case for munis

    Alexandra Lebenthal, Lebenthal & Co. President & CEO, discusses the health of the munis market.

  • Do you live in the worst-run city in America? Tuesday, 10 Mar 2015 | 2:43 PM ET
    Kansas City skyline

    WalletHub assessed how efficiently America’s largest cities spend taxpayer dollars. Here are the five best and worst.

  • BEIJING, March 10- China's plan to run its biggest fiscal deficit since the global financial crisis may help develop its bond market, but the extra competition for funding could sink some of the major providers of local government financing. To service China's 1.12 trillion yuan deficit for 2015, up 170 billion yuan from last year, state borrowers will also turn...

  • BEIJING, March 10- China's plan to run its biggest fiscal deficit since the global financial crisis may help develop its bond market, but the extra competition for funding could sink some of the major providers of local government financing. To service China's 1.12 trillion yuan deficit for 2015, up 170 billion yuan from last year, state borrowers will also turn...

  • CHICAGO, March 6- Moody's Investors Service on Friday dropped the credit rating for the Chicago Board of Education to Baa3, just one notch above the junk level, due to pension pressures affecting the school system and the city of Chicago. The two-notch downgrade, affecting $6.3 billion of the school district's general obligation bonds, came a week after Moody's...

  • CHICAGO, Feb 27- Chicago drew closer to a fiscal free fall on Friday with a rating downgrade from Moody's Investors Service that could trigger the immediate termination of four interest-rate swap agreements, costing the city about $58 million and raising the prospect of more broken swaps contracts. "This is an unfortunate wake-up call for anyone still asleep...

  • CHICAGO, Feb 27- Moody's Investors Service on Friday cut Chicago's already-weak credit rating one notch to Baa2, citing the city's growing costs related to its big unfunded pension liability. The downgrade to Baa2, which is just two notches above the junk level, affects $8.3 billion of Chicago's general obligation bonds. Moody's warned the rating could fall...

  • WASHINGTON/ NEW YORK, Feb 26- A bill to give Puerto Rico's ailing public utilities a way to restructure debt under the U.S. bankruptcy code drew skepticism from congressional Republicans but support from Democrats, who said it would relieve the island's problems. The Republican-controlled Judiciary subcommittee on regulatory reform of the House of...

  • 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...

  • 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.