Bonds

Investortools Inc. has acquired Merritt Research Services LLC, kicking into high gear a longtime partnership that has married the latter’s issuer financial data and credit research with Investortools’ software products with the two looking now to bolster the volume of analysis and speed of distribution. Founded in 1983, Investortools provides software products that include its
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The Indianapolis Airport Authority is pricing $75 million of bonds Thursday to refund subordinate notes tied to a storm water expansion project and refund bonds issued in 2010 for a savings. The bonds are being sold through the Indianapolis Local Public Improvement Bond Bank. They are not subject to the alternative minimum tax. Barclays is
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Two months after final trial arguments, Nuveen Investments is asking the Delaware Chancery Court to add new evidence to the trial record it claims throws cold water on Preston Hollow Capital LLC’s anti-competitive accusations. Nuveen’s request to reopen and supplement the trial record comes as the firms and the market are awaiting a decision from
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The top position at the Treasury Department overseeing municipal finance tax issues is temporarily vacant following the departure of John Cross III. John Cross, former U.S. Treasury associate tax legislative counsel Brian Tumulty Cross, who served as associate tax legislative counsel at the Office of Tax Policy until Friday, said in an email Wednesday that
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Large swings in Port of Los Angeles container traffic numbers have one port official saying a U.S.-China trade agreement can’t come soon enough. Whether that will happen remains unclear; reports earlier this week of an interim deal were contradicted Friday by President Trump. A container ship approaches the Port of Los Angeles, which reports a
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U.S. Virgin Islands Del. Stacey Plaskett said Thursday that the financial community supports making an emergency declaration for the island’s Water and Power Authority. Plaskett, the Virgin Islands’ non-voting representative in U.S. Congress, made the statement in a press conference held in St. Croix. In mid-September Plaskett sent a letter to Gov. Albert Bryan urging
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Two key reasons for an improved outlook for the bond market are the recent calming of trade tensions and last week’s decision by the Federal Reserve to cut interest rates for the third time this year. “We see some calming of seas,” said Beth Ann Bovino, chief U.S. economist and managing director at S&P Global
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Federal Reserve Bank of Richmond President Tom Barkin said he’s weighing pessimism in the the bond market against other economic signals to evaluate whether cutting interest rates is an effective response. “Overall, I think it’s safe to say the economy is giving us conflicting signals,” Barkin said in prepared text released by the Fed. While
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Ohio-based American Municipal Power Inc. plans a $360 million refunding that mixes taxable and tax-exempt debt. The deal from the nonprofit electricity wholesaler will generate savings on some of the $1.5 billion of outstanding debt tied to its ownership of the Prairie State Energy Campus in Illinois. The deal is expected to price Tuesday. Citi
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In the wake of the House of Representatives’ vote to approve procedures for the impeachment inquiry’s next steps this week, the muni market is waiting to see what is in store. On Wednesday, the House of Representatives passed a resolution, 232-196, approving guidelines for the next public phase of President Donald Trump’s impeachment proceedings. Depending
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The Securities and Exchange Commission’s Fixed Income Market Structure Advisory Committee will discuss issuer disclosure and machine-readable technology at a meeting next week. FIMSAC will meet Nov. 4 at the SEC’s New York Regional Office to discuss structured disclosures by municipal issuers and other topics, according to an agenda released Thursday. “I could not be
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As expected, the Federal Open Market Committee cut the fed funds rate target 25 basis points to a range of a 1.50% to 1.75%. “This action supports the Committee’s view that sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective are the most likely outcomes, but
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Chicago Mayor Lori Lightfoot’s reliance on state action to help wipe out an $800 million 2020 budget gap and structurally balance the city’s books by 2022 is weighing on support from market participants and city council members alike. The shared concern is over the uncertain prospects that state lawmakers will allow the city to shift
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PHILADELPHIA — Strong investor demand for Philadelphia bonds underscores the city’s fiscal strides, according to Mayor Jim Kenney. A $293.4 million general obligation bond offering Aug. 1 was more than 10 times oversubscribed and netted Philadelphia $15.9 million in interest savings compared to its previous GO deal. Two weeks later the city completed a $250.7
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S&P Global Ratings said it made 166 affirmations, 67 downgrades and 23 upgrades on 256 classes of outstanding tobacco settlement revenue bonds that had been on negative CreditWatch. All of the ABS transactions are backed by tobacco settlement revenues resulting from master settlement agreement payments. S&P said the January and May CreditWatch placements reflected both
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A second wave of planned Northern California electricity outages to reduce the risk power transmission equipment could spark wildfires may further spur efforts to convert the Pacific Gas & Electric into a customer-owned cooperative. The outages may also encourage further offers from individual cities and agencies to purchase the bankrupt utility’s electric distribution assets in
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