NEW YORK, May 9- Tradeweb Markets Inc on Thursday reported a drop in earnings for the first quarter as higher expenses at the newly public electronic trading platform operator outweighed a jump in revenue. Tradeweb, which focuses on electronic trading in assets such as government, mortgage, corporate and municipal bonds, as well as derivatives and ETFs, said it...
NEW YORK, May 9- Tradeweb Markets Inc on Thursday reported a drop in earnings for the first quarter, as higher expenses, largely due to increased hiring at the newly public electronic trading platform operator, outweighed a jump in revenue. Tradeweb, which focuses on electronic trading in assets such as government, mortgage, corporate and municipal bonds, as well...
John Miller from Nuveen Asset Management talks about the state of municipal bonds and what it signals for the U.S. economy with CNBC's "Closing Bell" team.
SINGAPORE/ SHANGHAI, April 4- When the major port and industrial hub of Ningbo sold China's first municipal bonds to retail investors, an amount of $43 million was snapped up in just five hours. One buyer was Mrs Yan, an accountant from the city in the eastern province of Zhejiang, who bought 100,000 yuan of the bonds, impressed by a call from a local bank to "love Ningbo...
SINGAPORE/ SHANGHAI, April 4- When the major port and industrial hub of Ningbo sold China's first municipal bonds to retail investors, an amount of $43 million was snapped up in just five hours. One buyer was Mrs Yan, an accountant from the city in the eastern province of Zhejiang, who bought 100,000 yuan of the bonds, impressed by a call from a local bank to "love Ningbo...
The board, which filed bankruptcy for the island in May 2017 to restructure about $120 billion of debt and pension obligations, had sought approval in January to void more than $6 billion of defaulted general obligation bonds sold in 2012 and 2014 on the basis they were issued in violation of debt limits in Puerto Rico's constitution. Other creditor groups in...
CHICAGO, March 26- Yield-hungry investors on Tuesday snapped up more than $1.1 billion of general obligation bonds offered by Illinois and Chicago, two of the U.S. municipal market's most financially troubled issuers. MMD narrowed so-called credit spreads for Illinois, the lowest-rated U.S. state, at a notch or two above junk, due to its huge unfunded pension...
CHICAGO, March 26- Yield-hungry investors on Tuesday snapped up more than $1.1 billion of general obligation bonds offered by Illinois and Chicago, two of the U.S. municipal market's most financially troubled issuers. MMD narrowed so-called credit spreads for Illinois, the lowest-rated U.S. state, at a notch or two above junk, due to its huge unfunded pension...
A search for yield has led to greater popularity of alternative approaches in bond investing. Yet they may be less popular among financial advisors due to lack of awareness, lack of promotion and amount of research needed to use them successfully.
NEW YORK, March 8- Japanese automakers, a U.S. municipal bond insurer caught up in the Puerto Rican debt scandal, and UK's largest online classified advertising site for used cars are among the top picks by equity fund managers who received a U.S. Lipper Fund Award in New York on Thursday night. He was attracted to the company's dominant position in a high-margin...
Craig Brandon, Eaton Vance Portfolio Management, co-director of Municipal Investments, joins 'The Exchange' to discuss whether state surpluses mean more money for municpal bonds.
NEW YORK, Feb 21- The city of Philadelphia has filed an antitrust lawsuit accusing seven major banks of conspiring to inflate interest rates for a type of bond used by cities, towns and other public entities, costing them potentially billions of dollars. Philadelphia, which said it issued more than $1.6 billion of the bonds, said the banks colluded to collect...
NEW YORK, Feb 21- The city of Philadelphia has filed an antitrust lawsuit accusing seven major banks of conspiring to inflate interest rates for a type of bond used by cities, towns and other public entities, costing them potentially billions of dollars. In a complaint filed on Wednesday night, Philadelphia accused Bank of America Corp, Barclays Plc, Citigroup Inc,...
CHICAGO, Jan 15- Puerto Rico general obligation bond prices tumbled on Tuesday after the island's federally appointed oversight board put the squeeze on bondholders late on Monday by announcing a plan to invalidate about half of the U.S. commonwealth's full faith and credit-backed debt. The board, along with an unsecured creditors committee, asked the U.S....
CHICAGO, Dec 4- Detroit on Tuesday sold its first standalone bonds since exiting bankruptcy four years ago to U.S. municipal market investors, who snapped up the debt albeit at hefty yields. The unlimited-tax general obligation bond issue sold solely under the city's junk-rated credit was increased to $135 million from nearly $111 million due to strong...
CHICAGO, Dec 4- Detroit on Tuesday sold its first standalone bonds since exiting bankruptcy four years ago to U.S. municipal market investors, who snapped up the debt albeit at hefty yields. The unlimited-tax general obligation bond issue sold solely under the city's junk-rated credit was increased to $135 million from nearly $111 million due to strong...
Nov 29- Puerto Rico concluded a U.S. bankruptcy court-approved restructuring of its Government Development Bank debt, marking its first consensual deal with creditors under a federal oversight law, government officials announced on Thursday. The GDB deal addresses only about $4 billion of the $120 billion of debt and pension obligations Puerto Rico is...
Peter Hayes, managing director, CIO and head of Blackrock's Municipal Bond Group, discusses whether the fear of rising rates will push investors to buy into municipal bonds.
The fall months are typically weak for muni bonds, and although this year has generally bucked seasonal trends, it looks that way again this year.
John Miller, Nuveen head of municipals, discusses how municipal bonds have been performing in an environment of rising rates.
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