Bonds Municipal Bonds

  • NEW YORK, Jan 10- The Port Authority of New York and New Jersey has agreed to pay $400,000 to settle allegations it failed to inform investors of risks to roadway projects, becoming the first municipal bond issuer to admit wrongdoing in an enforcement action with U.S. securities regulators. Reuters was first to report in April that the bi-state agency, which...

  • The Securities and Exchange Commission says the Port Authority sold $2.3 billion worth of bonds to investors without revealing internal discussions about whether certain projects were legal to pursue. Chris Christie's appointees at the Port Authority pushed for repairing the skyway and other state-owned roads. "The Port Authority represented to...

  • NEW YORK, Jan 10- The Port Authority of New York and New Jersey has agreed to pay $400,000 to settle allegations it failed to inform investors of risks to roadway projects, becoming the first municipal bond issuer to admit wrongdoing in an enforcement action with U.S. securities regulators. Reuters was first to report in April that the bi-state agency, which...

  • NEW YORK, Jan 4- U.S.-based bond funds netted cash for the first time since the U.S. election shook the fixed-income market, Investment Company Institute data released on Wednesday showed. Bond mutual funds and exchange-traded funds gathered $1.9 billion in the seven days through Dec. 28 as strong demand for taxable bonds offset a two-month municipal debt fund...

  • SAN FRANCISCO, Dec 30- U.S. municipal bond and note issuance reached a six-year high in 2016, closing the year with $423.8 billion in new sales and up 12 percent from 2015, according to Thomson Reuters data. The last time the annual issuance was larger than 2016' s total was in 2010, when $430.4 billion of new bond and notes were sold on the municipal market.

  • CHICAGO, Dec 27- Investors pulled another $2 billion from U.S. municipal bond funds in the latest week, underscoring fears that potential sweeping tax changes under President-elect Donald Trump and a Republican Congress will undermine the tax-exempt debt market. Since the Nov. 8 election, munis suffered more than any other fixed-income sector with a negative...

  • NEW YORK, Dec 21- Investors feasted on stock exchange-traded funds during the latest week while delaying their escape from the stressed bond market, data from the Investment Company Institute showed on Wednesday. Some $26.9 billion flooded into U.S.-based stock ETFs during the seven days through Dec. 14, the trade group said, the largest figure since the funds...

  • SAN FRANCISCO, Dec 16- Debt sales in the U.S. municipal market will cool off next week as issuers bring fewer offers in advance of the Christmas and New Year's holidays, with new issuance totaling about $500 million next week. The biggest competitive offer will come from Massachusetts, which is offering two general obligation refunding deals totaling $188...

  • CHICAGO/ NEW YORK, Dec 9- The financially struggling Chicago Board of Education next week will sell a new type of debt, armed with an investment grade rating from Fitch Ratings based on the bonds' ability to withstand a bankruptcy filing. The $500 million of capital improvement tax bonds slated to price through Barclays Capital are secured by a new property tax...

  • District Judge Cecilia Altonaga said the SEC has already made an example of former budget director Michael Boudreaux in its first municipal securities fraud case to go to trial. Though a jury found Boudreaux acted with severe recklessness, he did not gain financially from his conduct, Altonaga said, adding that the fine the SEC was seeking appeared "...

  • Bank of America Merrill Lynch's Global Broad Market Index fell 1.76 percent in November, its steepest percentage drop since a 2.06 percent fall in July 2003. Trump's victory on Nov. 8 stunned many investors who had positioned for a White House helmed by Democrat Hillary Clinton and the likelihood of continued gridlock in Washington, which could leave the...

  • NEW YORK, Nov 30- The Financial Industry Regulatory Authority said on Wednesday it fined Bank of America Merrill Lynch $7 million for inadequate supervision of client brokerage accounts that used leverage to buy Puerto Rican municipal bonds and other securities. FINRA said that 25 customers with modest net worth had three-quarters of their portfolios...

  • NEW YORK, Nov 20- Investors who piled into bond funds for safety will see red when they unfurl their current account statements this holiday season. Retreating from stocks in 2016, fund investors plunged $194 billion in U.S.-based bond funds in the first three quarters this year, according to the Investment Company Institute, a trade group.

  • NEW YORK, Nov 20- Investors who piled into bond funds for safety will see red when they unfurl their current account statements this holiday season. Retreating from stocks in 2016, fund investors plunged $194 billion in U.S.-based bond funds in the first three quarters this year, according to the Investment Company Institute, a trade group.

  • NEW YORK, Nov 18- U.S. municipal bond issuers canceled nearly $338 million worth of debt sales this week as market volatility spiked and yields surged higher after the surprise Nov. 8 election of Donald Trump as president. The canceled transactions do not include deals put on day-to-day watch as they await better conditions, including the week's biggest: $1...

  • Nov 18- The Financial Industry Regulatory Authority said the U.S. Securities and Exchange Commission had approved a plan that would require brokerage firms to disclose how much they mark up the price of most bonds they sell to retail customers. The SEC also approved a similar plan by the Municipal Securities Rulemaking Board, which regulates municipal...

  • NEW YORK, Nov 16- Investors moved more cash from U.S.-based stock funds in the weekly period ending Nov. 9, Investment Company Institute data showed on Wednesday, continuing a major rotation into bonds just before the U.S. presidential election. The data captures cash movements in the weekly period running through the day after the election of Donald Trump as U.S....

  • *Medicaid funding plan could squeeze state budgets. Nov 11- U.S. municipal bonds could lose favor with investors under President-elect Donald Trump's proposals to cut personal income tax rates, thereby reducing the benefit of the bonds' tax exemption, analysts said. "Tax reform is a key risk for munis- and one not reflected in current pricing," Morgan Stanley...

  • *Medicaid funding plan could squeeze state budgets. Nov 11- U.S. municipal bonds could lose favor with investors under President-elect Donald Trump's proposals to cut personal income tax rates, thereby reducing the benefit of the bonds' tax exemption, analysts said. "Tax reform is a key risk for munis- and one not reflected in current pricing," Morgan Stanley...

  • 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. The biggest concentration of bonds hanging in the balance is in California, which accounts for nearly 60...