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Bonds Municipal Bonds


  • BEIJING, Aug 27- China has expanded its debt-for-bond swap programme for local governments to 3.2 trillion yuan from 2 trillion yuan, state news agency Xinhua quoted Finance Minister Lou Jiwei as saying on Thursday. The programme, which is meant to ease the financing pressure on China's heavily indebted local governments, has been steadily expanded from a...

  • What exactly is a market correction? Friday, 21 Aug 2015 | 4:07 PM ET
    Trader on the floor of the New York Stock Exchange.

    CNBC explains: What is a correction? How do they come about? What do they mean for the stock market?

  • Aug 19- Detroit's post-bankruptcy debut in the U.S. municipal bond market on Wednesday resulted in hefty yields for $245 million of bonds, signalling that investors remain skeptical of the city's recovery. The bonds earned an investment-grade A rating from Standard& Poor's largely based on a Michigan law that placed a specific statutory lien on Detroit...

  • NEW YORK Aug 18- Puerto Rico postponed until later this week its first bond sale in public markets since it defaulted, investors said on Tuesday, an offering that according to Fitch ratings agency may attract high-yield municipal funds. According to data company IPREO, the $750 million deal for the Puerto Rico Aqueduct and Sewer Authority was slated to price on...

  • China leaves back door ajar in municipal bond market Sunday, 16 Aug 2015 | 5:00 PM ET

    SHANGHAI, Aug 17- China has been pushing local governments out of shadow banking and into the sunlight with a 2.6 trillion yuan bond program, all in the name of financial reform. Investors, though, seem to like it just fine in the shadows- and Beijing seems to be quietly encouraging them. "When they let LGFVs tap the bond markets and bank financing again, it was an...

  • SHANGHAI, Aug 14- A municipal bond auction by Qingdao municipality in north China was fully subscribed on Friday, traders said, following last Friday's undersubscribed auction by Liaoning province. The Liaoning auction was the first to publicly fail to achieve full subscription in 2015.. Investors have been watching closely to see if the Liaoning result...

  • The SEC said on Thursday that this was its first case against an underwriter for pricing-related fraud in the primary market for municipal securities. The 93- year-old investment firm's customers paid at least $4.6 million more than they should have for new bonds, the SEC said. The brokerage and its former head of municipal underwriting, Stina Wishman,...

  • Edward Jones to pay $20 mln for overcharging muni clients Thursday, 13 Aug 2015 | 10:04 AM ET

    Aug 13- Brokerage firm Edward Jones agreed to pay $20 million to settle charges that it the former head of its municipal underwriting desk had overcharged retail customers in new muni bonds sales, the U.S. Securities and Exchange Commission said. The SEC said it was its first case against an underwriter for pricing-related fraud in the primary market for...

  • Aug 7- Kansas will offer $1 billion of taxable pension bonds in the U.S. municipal market next week in a move that could make investors skittish given a recent default on some bonds in Puerto Rico and credit ratings downgrades in Chicago. Just this week, there was a default on Puerto Rico appropriation-backed bonds, while credit ratings on more than $3 billion of...

  • BOSTON, Aug 6- Some of the U.S. state and county-run investment pools that oversee more than $200 billion in local government cash are loading up on riskier corporate debt to produce yields that outpace the industry average by many times over, according to a Reuters analysis of their financial disclosures. "I don't want to call it the Wild Wild West, but it sure seems...

  • Puerto Rico debt too risky? Look here: Expert Wednesday, 5 Aug 2015 | 3:13 PM ET
    The Puerto Rican Capitol in San Juan

    As Puerto Rican debt grows riskier, investors seeking high yield should seek out individual projects, a top bond analyst said.

  • Nuveen's best muni bets Wednesday, 5 Aug 2015 | 1:38 PM ET
    Nuveen's best muni bets

    How to play Puerto Rico's debt crisis, with Shawn O'Leary, Nuveen Asset Management.

  • Here's why Puerto Rico's broke Tuesday, 4 Aug 2015 | 3:24 PM ET
    People look at the job listings posted at an unemployment office in San Juan, Puerto Rico.

    Puerto Rico's job base continues to shrink, taking its economy along with it.

  • NEW YORK, Aug 3- Puerto Rico has defaulted on its debt by paying only a fraction of what was due on bonds due Aug. 1, showing the depth of the island's economic and cashflow problems and potentially opening the door to broader defaults and litigation from bondholders. The U.S. commonwealth paid only $628,000 of a $58 million payment due on its Public Finance Corp...

  • Moody's says Puerto Rico has defaulted Monday, 3 Aug 2015 | 4:18 PM ET

    Puerto Rico's Government Development Bank announced that it was only able to make a partial payment on its Public Finance Corporation debt.

  • S&P cuts Atlantic City rating 3 notches to 'B' Monday, 3 Aug 2015 | 3:01 PM ET
    People on the boardwalk in Atlantic City, NJ.

    Casino hub Atlantic City had its credit rating cut Monday amid concerns about a dissolving tax base and fiscal reforms.

  • NEW YORK, Aug 3- The Municipal Securities Rulemaking Board is modifying a controversial proposal that would require brokers and dealers to disclose how much above their cost they sell certain municipal bonds to small investors, the regulator's executive director said on Monday. Individual investors routinely pay as much as 5 percent more than...

  • Another problem Puerto Rico doesn't need Monday, 3 Aug 2015 | 11:11 AM ET
    A power station of Puerto Rico Electric Power Authority, in San Juan.

    Puerto Rico, already hobbled by debt, is weighed down by outdated infrastructure that has increased the cost of doing business on the island.

  • How Puerto Rico can get out of its economic 'mess' Monday, 3 Aug 2015 | 10:24 AM ET
    Edwin Medina (L) and Coral Tapia use the resources available to look for work at an unemployment office a day after the governor gave a televised speech regarding the government's $72 billion debt on June 30, 2015 in San Juan, Puerto Rico.

    Even if the U.S. government won't allow Puerto Rico Chapter 9 bankruptcy, the territory could still potentially get by.

  • Puerto Rico to miss debt payment, signalling default Friday, 31 Jul 2015 | 8:10 PM ET
    The Puerto Rican flag flies near the Capitol building as the island's residents deal with the government's $72 billion debt on in San Juan, Puerto Rico

    Puerto Rico will miss a debt repayment Saturday, the government confirmed, as one of the largest ever US municipal debt restructurings beckons.