Raters: California Shouldn’t Use Gimmicks to Fix Gaps
By Randall Jensen | May 16As California grapples with an estimated $16 billion budget gap, analysts warned lawmakers to shun one-time gimmicks to try fix the shortfall.
MWAA Audit a Mixed Bag
By Kyle Glazier | May 16A report requested by lawmakers on the Metropolitan Washington Airports Authority supports its financial projections for the Metrorail extension to Dulles Airport, but raises concerns about MWAA's transparency, conflicts of interest and contracting practices.
Michigan Gradually Rebounding from Recession
By Caitlin Devitt | May 16Michigan continues to climb out of its devastating 10-year recession and could see its unemployment rate fall to 7.4% by the end of 2014, economists and state fiscal officials said Wednesday at the Legislature’s twice-annual revenue estimating conference. [FREE]
New York Senate Leaders Raise Possibility of MBIA Investigation
By Robert Slavin | May 16Two New York Senate Committee chairmen have raised the possibility of investigating bond insurer MBIA Inc.’s behavior in applying for a transformation of the company in 2008 and 2009. [FREE]
Appeals Court Strikes Down Harrisburg Bankruptcy
By Paul Burton | May 16The U.S. Court of Appeals in Philadelphia has denied the attempt by the Harrisburg City Council to file for bankruptcy on behalf of Pennsylvania’s capital city. [FREE]
Bond Fund Purchases Carry Risk
By James Ramage | May 16Individual investors have been flocking to municipal bond funds, searching for safety and relatively high yields. [FREE]
Deal in Focus
Chicago Bringing $600M
By Yvette Shields | May 16Chicago enters the market with $600 million of new-money and refunding general obligation debt, hoping investors turn a favorable eye on budgetary strides and the administration's initial steps toward repairing pension woes. [FREE]
Baucus: Ease Restrictions on Tribal Bonds
By Lynn Hume | May 16Senate Finance Committee chairman Max Baucus urged Congress to put Indian tribal governments on par with states and localities for tax-exempt financing.
Other Headlines
Market News
Regional News
- California Still on PACE Despite Federal Roadblocks
- Houston ISD Sets $187M Variable-Rate Refunding
- Louisiana Officials Warn Cuts Would Gut Higher Education and Health
- Georgia Academy Nosedives From Triple-B to Double-C
- Michigan County Forced to Cover Debt Service for Ailing Township
- Mercy Alliance of Wisconsin to Sell $172 Million, Shed Floating-Rate Risk
Washington
- FINRA Fines Two Firms; Files Complaint Against Another
- Groups Push Congress for TRIP Bonds
- Dissenting Commissioners Blast SEC's Approval of G-17 Guidance
- Geithner: Deficit, Tax Reform Debates Will Track Report; Debt Limit Seen in Late 2012
Underwriters & Dealers
This Week's Top 5 Issues
| Amount | Issuer | St | Description | Sale Date |
Sale Time |
|---|---|---|---|---|---|
| $596,000 | IL | 05/16/12 | 9am ET | ||
| $497,490 | NY | 05/14/12 | 9am ET | ||
| $435,000 | NC | 05/16/12 | 9am ET | ||
| $351,385 | TX | 05/16/12 | 9am ET | ||
| $309,235 | FL | 05/16/12 | 9am ET |
Weekly Indexes
| Current | Previous | High* | Low* | |
| Rev. Bond | 4.73% | 4.77% | 4.93% | 4.70% |
|---|---|---|---|---|
| 20-Bond | 3.71% | 3.81% | 4.08% | 3.60% |
| 11-Bond | 3.49% | 3.59% | 3.86% | 3.34% |
| 1-Yr. Note | 0.25% | 0.27% | 0.28% | 0.22% |
*(calendar year)
Today's Top Competitive Issues
| Amount | Issuer | St | Description | Sale Date |
Sale Time |
|---|---|---|---|---|---|
| $49,144 | NJ | 05/16/12 | 11am ET | ||
| $41,780 | CA | 05/16/12 | 11:30am ET | ||
| $33,400 | MD | 05/16/12 | 11am ET | ||
| $22,660 | IA | 05/16/12 | 11am ET | ||
| $22,050 | MN | 05/16/12 | 11am ET |
Insurer Ratings at a Glance
As of Dec. 20, 2011
