Bonds

The Federal Reserve will ban top officials from buying individual stocks and bonds as well as limit active trading after an embarrassing scandal that led two officials to resign and clouded Chair Jerome Powell’s path to renomination. “These tough new rules raise the bar high in order to assure the public we serve that all

The proliferation of green bonds and the growing desire for environmental, social and governance designations on municipal securities is making it difficult for issuers to know what to disclose and when. That was a theme raised by panelists at the Government Finance Officers Association’s 3rd annual MiniMuni Conference Oct. 20. As the issuance of green

Municipal benchmark yield curves were little changed on average trading Wednesday as the primary was the focus while the Investment Company Institute reported another week of inflows into municipal bond mutual funds. There was some uncertainty and a tentative mood hanging over the market, but traders said the large deals got done. Bids-wanted lists have

A bill to support the bond restructurings in the proposed Puerto Rico Plan of Adjustment faltered in the Puerto Rico Senate. While the Puerto Rico House of Representatives approved the bill, authored by House President Rafael Hernández Montañez, Senate President José Luis Dalmau, who supports the bill, decided to delay the vote because he believed

Passing a bipartisan infrastructure bill by month end without also reaching a deal on a reconciliation measure may endanger key municipal market priorities. “Now absolutely is the time,” said Emily Brock, director of the GFOA’s Federal Liaison Center. If lawmakers do not meet the Halloween deadline to pass both the bipartisan infrastructure framework, or BIF,

After the Securities and Exchange Commission posted an announcement seeking a candidate to head its Office of Municipal Securities, key industry organizations anticipate working closely with the next director. The National Association of Bond Lawyers and Bond Dealers of America commented on the importance of the position–held by Rebecca Olsen since 2018–responsible for coordinating the

Municipals were a touch weaker 10 years and in on thin trading while U.S. Treasuries pared back earlier losses the curve flattening continued. Triple-A benchmarks saw one basis point cuts in spots inside 10-years while the five-year U.S. Treasury hit a high of 1.154% and the 30-year pared back earlier losses to land at 2.018%.

Developers of a hotel at the U.S. Air Force Academy are ready to issue $240 million of revenue bonds that were delayed more than a year by the COVID-19 pandemic. Louisiana-based nonprofit Provident Group-USAFA Properties LLC is issuing the bonds through the Industrial Development Authority of the City of Phoenix, with RBC Capital Markets as

The Securities and Exchange Commission is seeking applicants to head the office of Municipal Securities, a key post responsible for coordinating the SEC’s muni regulatory activities. An Oct. 8 posting on the USAJOBS website that serves as the portal for federal government employment lists the position that is currently held by Rebecca Olsen, who has

The specialized nature of the Internal Revenue Service’s Tax Exempt Bond program may help it go largely unchanged during the agency’s wider restructuring efforts. “We don’t know what the restructuring is going to be but since taxes and bonds are a specialty area, my belief is that they’re going to keep TEB intact,” said Bob

In the midst of a declining workforce, the Internal Revenue Service is taking an “all hands on deck” approach to hiring that includes a recent announcement for a role focused on tax-advantaged bonds. The Oct. 14 posting for a senior tax law specialist seeks a candidate experienced with complex matters involving tax-advantaged municipal finance transactions.

The historic settlement between states and drug companies over the U.S. opioid epidemic is unlikely to have a material impact on the municipal bond market, said Barclays in a new report. The pending $26 billion deal is the largest attorney general multi-state enforcement action in history after the 1998 tobacco master settlement agreement. But it’s

Municipals ended the week steady even as U.S. Treasuries lost ground and equities rallied on better consumer data and corporate earnings. Triple-A benchmark yields were left unchanged as the 10-year UST rose six basis points while the 30-year climbed three. Ratios fell on the day’s moves, with the 10-year municipal-to-UST ratio at 74% and the

Assured Guaranty accounted for a total of $17.31 billion in 820 deals for a 52.1% market share in the first three quarters of 2021, up from the $13.77 billion in 703 deals for a 48.9% market share over the same period as the year before. “Assured Guaranty continued to lead the municipal bond insurance industry

Municipals were stronger as the New York Urban Development Corp. led the primary with $1.76 billion of taxable and exempt sales tax bonds in the competitive market while Refinitiv Lipper reported a rebound in fund inflows. Triple-A benchmarks were bumped a basis point in spots along the yield curve, but the asset class has underperformed

Peter Delahunt, who helped build Raymond James’ municipal team over 26 years with the firm, has been wooed out of retirement to do the same for StoneX. The global firm has a large fixed-income team and had made a decision to go big on munis seeing opportunity in the sector at the height of the

Municipals were steady in light secondary trading while new issues were repriced to lower yields and U.S. Treasuries made gains after a rollercoaster day. Triple-A benchmark yields were little changed while the UST 10-year fell four basis points to 1.541% and the 30 fell six to 2.035% near the close. Ratios rose as a result,

WASHINGTON — Senate Republicans accused officials in the nation’s capital of “attempting to influence” the process to fill leadership posts at two regional Federal Reserve banks. In letters to the board chairs of the Boston Fed and Dallas Fed, the 12 senators suggested that Democratic lawmakers and even members of the Federal Reserve Board in

Municipals were lightly traded and little changed as participants await new issues while U.S. Treasury yields fell and stocks were in the red in a risk-off trade. Triple-A benchmark yields were little changed while the UST 10-year fell four basis points to 1.564% and the 30 fell nine to 2.083% near the close. The 10-year

The National Association of Bond Lawyers is putting its efforts behind the industry-wide push for the muni industry’s priorities to be included in the infrastructure and reconciliation bills currently passing through Congress. Ann Fillingham, director of regulated industries at Dyseka, who becomes NABL’s new president this week, discussed the group’s priorities as the agency kicks