Author: Geoff Weitzel
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Municipal Bond Credit Report: Kentucky’s big budget surplus sends rainy-day fund to record high
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Kentucky’s economy remains in overdrive as it continues to rack up record after record. This month the state saw the largest surplus in its history as the general fund budget had a $1.55 billion overage at the end of fiscal 2023… Link to Story
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Municipal Bond Credit Report: Federal Reserve Raises Interest Rates to 22-Year High
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Federal Reserve resumed lifting interest rates Wednesday with a quarter-percentage-point increase that will bring them to a 22-year high… Link to Story
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Municipal Bond Credit Report: U.S. Economic Growth Accelerates, Defying Slowdown Expectations
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The U.S. economy picked up last quarter and remained well clear of a recession despite the Federal Reserve pushing interest rates higher… Link to Story
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Municipal Bond Credit Report: Latest estimate: 2.4 percent — July 26, 2023
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 is 2.4 percent on July 26, unchanged from July 19 after rounding. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of second-quarter real residential investment…
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Municipal Bond Credit Report: Settlement reached on bankrupt Texas senior living community’s bonds
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Owners of some defaulted revenue bonds issued in 2018 for a senior living community in Plano, Texas, reached a binding settlement with the project’s bankrupt owner that calls for the re-issuance of debt… Link to Story
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Municipal Bond Credit Report: Milwaukee wins new sales tax for pensions, public safety
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Milwaukee Mayor Cavalier Johnson Friday signed into law a 2% municipal sales tax rate, marking the end of a long-fought battle to shore up the city’s ailing finances, which have been hit by rising pension costs… Link to Story
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Municipal Bond Credit Report: Harvey, Illinois, launches GO exchange offer on defaulted debt
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Harvey, Illinois, is targeting an August settlement date in its long-planned tender exchange offer on its defaulted general obligation bonds… Link to Story
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Municipal Bond Credit Report: Graceland project woes continue as borrowers miss another debt payment
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Borrowers for a revitalization project for Graceland Mansion, the fabled former home and resting place of Elvis Presley, missed another debt service payment at the beginning of the month… Link to Story
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Municipal Bond Credit Report: Inflation Eased to 3% in June, Slowest Pace in More Than Two Years
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Inflation cooled last month to its slowest pace in more than two years, giving Americans relief from a painful period of rising prices and boosting the chances that the Federal Reserve will stop raising interest rates after an expected increase this month… Link to Story
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Municipal Bond Credit Report: Illinois hits reserve and cash high points as it closes the books on fiscal 2023
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Illinois headed into the new fiscal year with fresh deposits to its rainy-day and pension stabilization funds, a low bill balance, and $1 billion in available general revenue funds — hitting several high marks on some fiscal metrics that had sunk during the state’s budget impasse six years ago… Link to…