Bonds

As municipal bond yields hover near record low levels, investors are looking to tax-frees for safety, reassurance and quality amid extreme volatility in the stock market. Last week, yields on Refinitiv Municipal Market Data’s AAA benchmark scale for the 10- and 30-year bonds fell to their lowest levels since the curve was first set back
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SPRINGFIELD, Ill. — The fate of the lawsuit seeking to block repayment of $14.3 billion of Illinois general obligation debt is in a judge’s hands. Sangamon County Circuit Court Judge Jack D. Davis II heard oral arguments in his Springfield courtroom Thursday about the case that opponents say is “frivolous” and filed for “a malicious
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Chicago’s long-standing effort to host and profit from a casino will require a legislative makeover to attract financing, an independent consultant’s report concluded. “The gaming expansion legislation that allows for a casino in the city of Chicago is very onerous from a tax and fee perspective,” the study concluded. “Our analyses suggest that, at best,
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Illinois’ search for a new debt manager ended with the hiring of Paul Chatalas, a 25-year veteran of public policy and public finance positions. Chatalas started Tuesday, according to the Governor’s Office of Management and Budget. He replaces Kelly Hutchinson, who left in the spring after three-and-a-half years in the position to join Katten Muchin
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After effortlessly taking down $13.2 billion of bonds this past week, muni buyers will see another above average issuance week with $7.6 billion but it will not be nearly enough to “feed the beast.” There will be $5.70 billion of negotiated deals slated for next week and $1.95 billion of competitive sales, equating to more
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David Einhorn, president of Greenlight Capital Inc., speaks. Photographer: Michael Nagle/Bloomberg Famed hedge fund investor David Einhorn is having a brutal year. He’s down over 18% in 2018, posting one of the worst performances in the entire hedge fund industry. Surprisingly, it could have been worse for Einhorn. Despite his losses, Einhorn actually dodged a big bullet in
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Texas lost another rural hospital when Hamlin Memorial Hospital near Abilene closed July 31. The hospital in the West Texas county of Jones was built and managed by the Hamlin Hospital District, whose last bonds were paid off 12 years ago. The town of 2,018 has lost population since the 2010 census. “Over the past
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These 31 funds are the cheapest for short-term stakes in short-term bonds. Shutterstock Do you have idle cash in your brokerage account? Chances are it’s not earning much. Consider switching to a brief investment in an exchange-traded fund that owns short-term bonds. The scorecard below shows the cheapest ETFs for a position held for three months.
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Puerto Rico’s House voted in favor of the outgoing governor’s chosen successor, Pedro Pierluisi, keeping his nomination alive for now. Pedro Pierluisi Bloomberg News But confirmation by one of the island’s two chambers will do little to ease uncertainty about who will become Puerto Rico’s next governor when the current one —forced out by weeks
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Share to facebook Share to twitter Share to linkedin These 23 funds are the cheapest of their type for in-and-out trades. Shutterstock What does it cost to own the whole bond market for a brief period? This ranking tells you. The table scores exchange-traded funds for their three-month holding costs, defined to include the effect
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A pair of California Superior Court rulings allowing San Francisco taxes approved by a simple majority to stand is credit positive for the city and other local governments. The decisions are credit positive, “because a simple majority requirement provides more flexibility to raise revenue through voter initiatives,” according to a Moody’s Investors Service team led
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Share to facebook Share to twitter Share to linkedin Just a handful of long-term bond funds are cheap to own for a brief interval. Shutterstock If you want to make a bet on declining interest rates, shares in a fund that owns long-term bonds are a good option. This table ranks exchange-traded long-term bond funds on
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The Massachusetts Municipal Wholesale Electric Co., the joint action agency for municipal utilities in the commonwealth, has sold its ownership interests in W.F. Wyman Station Unit 4, in Yarmouth, Maine. The company sold the output of the Wyman Project’s ownership interests to sold to 12 municipal light plants in Massachusetts. Participants include municipal utilities in
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Share to facebook Share to twitter Share to linkedin These 15 funds are the cheapest in their categories for short-term speculations.  Shutterstock Owning a bond fund is one way to bet on a decline in interest rates. The table ranks the cheapest exchange-traded funds for three-month holding costs on a $10,000 investment. 3-month Holding Cost*
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(Photo by Alexander RyuminTASS via Getty Images) The trend is your friend is an investment adage that is usually associated with short term traders, employing technical analysis or other momentum strategies. It can also apply to thematic investors seeking to identify mega-trends that will last decades. These are trends so clearly in place, it is
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Jerome Powell, chairman of the U.S. Federal Reserve. The future actions of the Fed will have a key impact on bond markets. Photographer: Andrew Harrer/Bloomberg We’re now firmly into a rising interest rate cycle in the U.S. With several bond metrics approaching extreme levels relative to recent history, here are a few things to be aware of, and
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