Bonds

Tennessee may join a handful of states offering businesses liability protection from employees and others who sue because of contracting the coronavirus that causes COVID-19. Gov. Bill Lee has called a special session of the General Assembly starting Monday to consider legislation that offers limited immunity from liability to businesses, schools, nonprofit organizations, churches, academic
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Puerto Rico fiscal year 2020 general fund revenues came in 10.7% short of a May 9, 2019, projection but 3.1% ahead of a May 27, 2020, projection. The Puerto Rico Treasury reported the results Wednesday. While the January earthquakes hurt collections, the governor’s order to close much of the economy from March to the present
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The Lexington-Fayette, Ky., Urban County Government Public Facilities Corp. will sell by competitive bid $33.19 million of taxable refunding bonds on Tuesday, in its first-ever “scoop and toss” deal. The bonds will restructure up to three years of payments on bonds issued by the Kentucky Bond Development Corp. in 2018 to finance a comprehensive renovation
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Fitch Ratings Friday revised the outlook to negative on the United States’ sovereign rating. The rating agency affirmed its AAA rating on the United States’ long-term foreign-currency and local-currency issuer default ratings while dropping the outlook from stable. Fitch Ratings revised its outlook on the United States’ AAA rating to negative from stable. Fitch said
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Maine’s Susan Collins became the second Republican senator to announce opposition to President Donald Trump’s nomination of economist Judy Shelton to the Federal Reserve’s Board of Governors. “Ms. Shelton has openly called for the Federal Reserve to be less independent of the political branches, and has even questioned the need for a central bank,” Collins
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Republican Senator Mitt Romney of Utah said he will vote against Judy Shelton, one of two Trump administration nominees to the Federal Reserve’s Board of Governors. ”I’m not going to be endorsing,” Romney told reporters Thursday. “I will be voting against it.” Shelton, an informal adviser to President Donald Trump’s campaign in 2016, is nominated
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Municipal bond buyers, while not seeing the amount of new issuance they might want or need, will have a wide variety of new deals from which to choose — from green and social bonds to some seldom-seen names and structures. Taxable bonds one again are featured prominently on the supply slate. IHS Ipreo estimates volume
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San Francisco officials are seeking voter approval of $487.5 million general obligation bonds to address the city’s COVID-19-related economic downturn and longer-term health-, housing- and poverty-related challenges. The city’s board of supervisors on Tuesday unanimously approved sending the “Health and Recovery” bond ballot to voters to decide in November. Mayor London Breed introduced the proposal
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While the Federal Reserve has busied itself trying to keep the markets stable, its job when the crisis is over will be to keep monetary policy accommodative, according to Fed Gov. Lael Brainard. “A thick fog of uncertainty still surrounds us, and downside risks predominate,” she said during a National Association for Business Economics webinar,
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The State University of New York will sell a $328.5 million refinancing deal to create near-term financial flexibility to offset expected declines in student housing revenue stemming from the coronavirus pandemic. SUNY is scheduled to sell the federally taxable dormitory facilities revenue bonds Tuesday through the Dormitory Authority of the State of New York. Proceeds
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Wide-spread mask wearing and following other health-care measures will be vital to economic growth in the U.S., said Federal Reserve Bank of Dallas President Robert Kaplan. “While monetary and fiscal policy have a key role to play, the primary economic policy from here is broad mask wearing and good execution of these health-care protocols,” Kaplan
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