Bonds

Municipals were thinly traded and benchmark yields little changed while U.S. Treasuries were a tick better on the 10- and 30-year and equities continued their march upward. Triple-A benchmarks were left unchanged and ratios were also little changed. The five-year was at 47%, 70% in 10 and 78% in 30, according to Refinitiv MMD’s 3
U.S. Commerce Secretary Gina Raimondo looked out at the Economic Club of New York luncheon gathering. “It’s been a hard year. We can’t sugarcoat that,” the former Rhode Island governor said. “But there are a lot of reasons to be optimistic … We ought to take a second to look at the bright side.” One
Two New York City pension funds have successfully completed the divestment of securities related to fossil fuel companies, Mayor Bill de Blasio and Comptroller Scott Stringer announced Wednesday. The Trustees of the New York City Employees’ Retirement System (NYCERS) and the Board of Education Retirement System (BERS) said the action brings their total divestment across
Berwyn, Illinois’ ratings remain intact after a review ahead of its $99 million general obligation debt refunding, restructuring and new money issue that will provide budgetary relief and pay down unfunded public safety pension liabilities. S&P Global Ratings had put the city’s BBB GO and A-minus securitization ratings on CreditWatch with developing implications Sept. 30
What’s ahead in public finance? Join San Diego County Water Authority finance director and treasurer Lisa Marie Harris, City of San José deputy director of debt and Treasury management Nikolai J. Sklaroff and City and County of San Francisco public finance director Anna Van Degna in this Arizent Leaders panel discussion to explore this and
Higher education credit downgrades remain more likely than upgrades next year as colleges and universities cope with the latest form of the COVID-19 virus, analysts at Fitch Ratings said. “The neutral sector outlook for U.S. colleges and universities reflects Fitch Ratings’ expectation for some enrollment recovery, solid state budget prospects and good levels of budgetary
A round of settlements involving the Financial Industry Regulatory Authority’s 529 plan share class initiative shows that a number of firms are agreeing to enhance supervisory systems and procedures and compensate harmed customers. Letters of acceptance, waiver and consent (AWC) for five cases involving the 529 initiative, were listed Tuesday in FINRA’s disciplinary actions online
Municipals continued on the unchanged path with sparse trading and no primary to speak of for guidance, keeping the asset class in idle mode to end 2021. The Investment Company Institute reported $91 million of inflows into municipal bond mutual funds in the week ending Dec. 15, down from $517 million in the previous week.
Missouri school districts must reject mask mandates, quarantine orders and other measures to fight the COVID-19 pandemic or lose access to the state’s credit enhancement program. State Treasurer Scott Fitzgerald said districts must sign a letter confirming their compliance with an attorney general’s order following a court ruling that threw out many local health orders.
Puerto Rico’s employment rebound is outpacing that of the United States, Federal Reserve officials said Friday. They pointed to Bureau of Labor Statistics data showing the island’s employment in October was up 1% since October 2019, prior to the onset of the COVID-19 pandemic. By comparison, U.S. employment was down 3% in the period. New
Bloomberg LP has launched a U.S. Municipal Impact Index designed to track municipal bonds categorized under green, social and sustainability. The index, which went live Wednesday, currently tracks over 2,800 securities and is the first such standardized measure of the U.S. municipal tax-exempt investment-grade impact bond market. The index is derived from Bloomberg Index Services
Well before the pandemic drove online adoption, the consumer shift toward a digital, personalized banking experience was on an upward trend. For financial institutions looking to capture the millennial and Gen Z demographic, it’s increasingly important to rethink card member acquisition approaches and prioritize automated, hyper-personalized programs. In this Arizent Leaders forum interview with American
The Securities and Exchange Commission has voted to propose amendments to certain rules governing money market funds as a response to massive outflows and stress on short-term funding markets following the onslaught of COVID-19 in March 2020. “Together these amendments are designed to reduce the likelihood of runs on money market funds during periods of