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Following a three-day extended rally, municipals reversed course and were mostly weaker five years and out Tuesday in secondary trading as the primary market took focus with several large deals. U.S. Treasuries sold off and equities rallied. The two-year muni-to-Treasury ratio Tuesday was at 64%, the three-year at 66%, the five-year at 66%, the 10-year

The Chapter 11 bankruptcy saga of Iowa’s Mercy Hospital continues, with master trustee Computershare Trust filing a notice Thursday about the distribution of cash to bondholders and a status conference on Friday yielding some progress on stalled payments. According to an August 1 filing by Computershare Trust posted on the Municipal Securities Rulemaking Board’s EMMA

Puerto Rico Electric Power Authority bond parties asked the U.S. Court of Appeals for the First Circuit Monday to reject the Oversight Board’s request to rehear the court’s June decision that bondholders have a lien on the authority’s net revenues. While the board’s request delays the bankruptcy, it “has the positive effect of clarifying, in

Underwriters are experiencing greater pressure in the competitive market as several firms bid on deals more frequently, and deals, on average, see more bids and narrower spreads. “Competitive underwriting remains a tough business that’s getting tougher,” said Justin Marlowe, professor at the University of Chicago Harris School of Public Policy and director of the school’s Center

Municipals extended their rally Friday, underperforming U.S. Treasuries which saw yields plummet up to nearly 30 basis points on the short end after a weaker-than-expected nonfarm payrolls report. Equities sold off. Muni yields were bumped nine to 14 basis points, depending on the scale, while UST yields fell 17 to 29 basis points, pushing two-,

Following the receipt of $12 billion from the Biden administration in July of this year, the Gateway Development Commission is seeking to execute an additional $3.8 billion Federal State Partnership grant agreement from the Federal Railroad Administration.   The additional funds will provide the GDC with a cushion with which to facilitate advance payments, as well

The Federal Deposit Insurance Corporation board shocked the municipal bond market on Tuesday with a proposal that would switch out CUSIP numbers with Financial Instrument Global Identifiers, a marker based on standards developed by Bloomberg.  “It was an opaque process, but we did hear of efforts behind closed doors to expand the scope of FDTA to include

Williams College, the liberal arts school sprawled across 450 acres of the Berkshire highlands in Massachusetts, is out to show municipal bond investors the greater value of some higher education debt. The alma mater of former President James Garfield and current U.S. Rugby Olympian Kristi Kirshe plans to sell $108 million of bonds next week