Author: Geoff Weitzel
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Municipal Bond Credit Report: New York State pension fund posts negative returns for fiscal 2023
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: New York State Common Retirement Fund’s investment return was negative 4.14% for the state’s fiscal year that ended March 31, said state Comptroller Thomas DiNapoli. The fund is valued at $248.5 billion… Link to Story
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Municipal Bond Credit Report: Jobs Report Keeps Fed on Track to Raise Rates in July
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The solid June jobs report is likely to leave the Federal Reserve on course to raise interest rates to a 22-year high later this month to combat inflation… Link to Story
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Municipal Bond Credit Report: Pension risk meter on the rise for Chicago and Illinois, reports warn
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Pension funding-related threats to Chicago and Illinois’ fiscal health are on the rise, reports published this week warn… Link to Story
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Municipal Bond Credit Report: Alarm bells rise over Chicago Public Schools’ future budget gaps
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Chicago Public Schools’ looming fiscal cliff cast a long shadow over the board’s approval Wednesday of a fiscal 2024 budget balanced with the help of the maximum property tax hike allowed under state caps and federal COVID-19 relief… Link to Story
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Municipal Bond Credit Report: U.S. Economy Shows Surprising Vigor in First Half of 2023
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Fresh signs of labor market strength reinforced a picture of an economy with broad-based momentum despite rising interest rates… Link to Story
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Municipal Bond Credit Report: U.S. Home Prices Posted First Annual Decline Since 2012 in April
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Home prices posted their first year-over-year price decline in 11 years in April, as higher mortgage rates made home purchases more expensive for buyers… Link to Story
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Municipal Bond Credit Report: American Dream mall contractor sues JPMorgan for unpaid work
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The construction manager for the beleaguered American Dream mall and entertainment complex in New Jersey’s Meadowlands is suing JPMorgan Chase & Co. to recover more than $30 million of unpaid work and accrued interest for the project… Link to Story
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Municipal Bond Credit Report: New default for a twice-bankrupt Illinois senior living facility
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Holders of restructured bonds of the Clare Oaks senior living community in Illinois are giving the facility some breathing room and funds to support capital needs under a forbearance agreement that staves off any punitive actions allowed after a payment default on $50 million of municipal bond debt… Link to Story
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Municipal Bond Credit Report: Higher Interest Rates Hit Home Prices Again
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: U.S. existing-home prices posted their biggest year-over-year decline in more than 11 years last month as rising interest rates continued to weigh on the housing market… Link to Story
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Municipal Bond Credit Report: Yellen Says More Bank Mergers Likely This Year
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Treasury Secretary Janet Yellen said more banks will probably seek to merge this year as higher interest rates and recent banking turmoil are making it more expensive for them to hang onto depositors… Link to Story