Bonds Municipal Bonds

  • CHICAGO/ SAN FRANCISCO, Nov 4- U.S. voters on Tuesday will decide the fate of $70.3 billion of municipal bond issuance, the largest amount of borrowing requests in a decade, with much of it earmarked to help pay for fixing the nation's crumbling infrastructure. We've had more stability in revenues and more stability in the economy as a whole, so we would expect a...

  • SAN FRANCISCO, Oct 31- Sales of municipal bonds and notes soared to a record $52.5 billion in October, the biggest month of issuance since records began in the 1980 s, according to Thomson Reuters data. October brought nearly $52.5 billion of new supply to the $3.7 trillion U.S. municipal market. The last time the market reached similar levels was in 2008, when $51.4...

  • NEW YORK, Oct 31- A New York auditor on Monday settled U.S. Securities and Exchange Commission charges that it issued fraudulent audit reports in connection with municipal bond offerings by the town of Ramapo, New York, and its local development corporation, which were charged with fraud in April. The SEC said PKF O'Connor Davies and senior partner Domenick...

  • NEW YORK, Oct 31- A New York auditor on Monday settled U.S. Securities and Exchange Commission charges that it issued fraudulent audit reports in connection with municipal bond offerings by the town of Ramapo, New York and its local development corporation, which were charged with fraud in April. The SEC said PKF O'Connor Davies and senior partner Domenick...

  • SHANGHAI, Oct 25- China's fiscally stressed northeastern province of Liaoning, a bellwether for the nation's burgeoning municipal debt market, sold bonds at just four to 10 basis points above the lower limit allowed by auction rules, traders said on Tuesday. Liaoning, which saw one of its bond auctions fail in 2015, is the only Chinese province in recession...

  • CHICAGO, Oct 24- The junk-rated Chicago Public Schools will be selling up to $1 billion of new and refunding bonds pending approval of its governing board later this week. The nation's third-largest public school system wants to issue up to $840 million of general obligation bonds to fund capital improvements using a $45 million property tax hike approved by...

  • Oct 21- U.S. municipal market supply will likely be among the highest in a decade when an estimated $16.7 billion of bonds and notes goes up for sale next week, lead by deals from New Jersey and Alaska. With $16.5 billion in expected bond sales and $213 million in notes, according to Thomson Reuters estimates on Friday, the week would be one of the 10 biggest for supply...

  • NEW YORK, Oct 19- Investors funneled the least cash to U.S.-based municipal bond funds in more than a year, Investment Company Institute data for the latest week showed on Wednesday, the latest sign that demand in some fixed-income categories is waning. The muni mutual funds and exchange-traded funds attracted just $299 million in the week through Oct. 12, the...

  • CHICAGO, Oct 12- Ahead of the sale of $1.35 billion of debt on Thursday, Illinois issued an ominous warning to potential bond buyers that it may not have enough money to make its fiscal 2017 pension payments on time. A budget impasse, along with a $111 billion unfunded pension liability and a growing pile of unpaid bills, have pounded Illinois' ratings into the low...

  • NEW YORK, Oct 11- In July, investors gobbled up $1 billion of bonds from a financially-strapped Catholic hospital system in Illinois called Presence Health Network, even though it offered few contractual guarantees debt buyers typically require. The deal, rated just above junk status, is emblematic of a fever that has swept the $3.7 trillion U.S. municipal bond...

  • NEW YORK, Oct 11- In July, investors gobbled up $1 billion of bonds from a financially-strapped Catholic hospital system in Illinois called Presence Health Network, even though it offered few contractual guarantees debt buyers typically require. The deal, rated just above junk status, is emblematic of a fever that has swept the $3.7 trillion U.S. municipal bond...

  • Oct 5- Yields on $1.548 billion of Harvard University revenue bonds fell mostly by 2 to 3 basis points when the debt was repriced on Wednesday. "Harvard is issuing $2.5 billion of bonds to refinance existing debt to take advantage of the current low interest rate environment," university spokesman David Cameron said in an email. Harvard plans to sell about $1...

  • Muni funds took in $1.1 billion in the week through Sept. 28, the Washington- based trade group said on Wednesday. "They look pretty robust relative to the rest of the world," said Chad Rach, a portfolio manager at Capital Group in Los Angeles, which manages American Funds. U.S.-based world stock funds posted $3.7 billion in outflows, their worst week since fears about...

  • Construction workers pour concrete as part of a bridge expansion project in California.

    U.S. companies are parking trillions overseas, with little progress from policymakers trying to bring all that money home.

  • Bank of America Merrill Lynch was the top underwriter of muni bonds during 2016' s first nine months with 408 deals, totaling nearly $50 billion. So far, California's treasurer and Illinois' governor have suspended the bank from underwriting their states' bonds, while the city of Chicago could take up a two-year ban as soon as this week. New York City's Transitional...

  • Interest rates rising

    With the Federal Reserve planning to gradually raise interest rates, investors should know this about their fixed-income portfolios.

  • Sept 23- The city of Miami and the U.S. Securities and Exchange Commission reached a tentative settlement after a jury found the city liable for securities fraud in the sale of over $150 million in municipal debt in 2009.. Lawyers for the SEC and the city said in a Thursday court filing that the proposed settlement would allow both sides to avoid further...

  • SHANGHAI, Sept 20- China's struggling Liaoning province, a bellwether for China's municipal debt, sold bonds on Tuesday at much higher yields than its peers but well below its 2016 highs, suggesting investors see little immediate threat of default. Liaoning is the only province in China in recession and is viewed by analysts as a test of the central government's...

  • Sept 19- New Jersey's Stockton University is ramping up plans, including a bond sale this week, to build a $178 million campus in Atlantic City, the state's financially distressed gambling hub. The Atlantic County Improvement Authority will issue nearly $128 million of municipal bonds on Thursday for Stockton University to fund construction of a new campus in...

  • LYNDHURST, N.J., Sept 15- New Jersey re-affirmed its support on Thursday for a $1.15 billion municipal bond deal to finish building a long-stalled mega-mall and entertainment complex after a lawsuit challenged the use of such tax-exempt public financing. Proceeds will fund construction of the $2.7 billion American Dream project in New Jersey's Meadowlands...