Author: Geoff Weitzel
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Municipal Bond Credit Report: Detroit returns to bankruptcy court for pension funding dispute
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Detroit is asking the bankruptcy court to require that its police and firefighters retirement system stick with a 30-year amortization period agreed to in the city’s plan of adjustment that paved the way for its Chapter 9 exit in 2014… Link to Story
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Municipal Bond Credit Report: Market Rout Sends State and City Pension Funds to Worst Year Since 2009
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Public pension plans lost a median 7.9% in the year ended June 30, according to Wilshire Trust Universe Comparison Service data to be released Tuesday, their worst annual performance since 2009 and a fresh sign of the chronic financial stress facing governments and retirement savers… Link to Story
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Municipal Bond Credit Report: Moody’s lifts Minnesota’s rating to Aaa
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Minnesota has a trio of triple-A general obligation ratings after Moody’s Investors Service upgraded the state to Aaa from Aa1 on Thursday… Link to Story
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Municipal Bond Credit Report: Court gives Harvey, Illinois, more time to launch bond exchange
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Harvey, Illinois, officials are working to overcome remaining hurdles to conduct a bond exchange offer that would remove its general obligation debt from default status and honor a legal consent agreement with a group of bondholders… Link to Story
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Municipal Bond Credit Report: Jobs Report to Keep Fed on Aggressive Tightening Path
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The July jobs report defied expectations of an economic slowdown and will make it harder for the Federal Reserve to dial back the pace of rate increases at its meeting next month… Link to Story
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Municipal Bond Credit Report: July Jobs Report: U.S. Added 528,000 New Jobs as Unemployment Rate Fell to 3.5%
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The U.S. economy has now recouped the 22 million jobs lost early in the pandemic, adding 528,000 positions in July as employers clamored for workers despite a slowdown in economic growth… Link to Story
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Municipal Bond Credit Report: State bond official shares how Florida may address Disney’s Reedy Creek situation
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: J. Ben Watkins III, the director of Florida’s division of bond finance, said the state likely will create a district similar to Reedy Creek minus some special powers… Link to Story
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Municipal Bond Credit Report: Florida’s jobless rate falls to 2.8% as its economic recovery continues
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Florida’s unemployment rate dropped to 2.8% in June as the state’s labor force continued to grow, according to the state Department of Economic Opportunity… Link to Story
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Municipal Bond Credit Report: Cleveland heads into the market on upgrade tailwinds
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Cleveland heads into the market this week with an upgrade helped along by its decision to tap surpluses to bolster reserve levels… Link to Story
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Municipal Bond Credit Report: GDPNow Latest estimate: -1.2 percent — July 27, 2022
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 2022 is -1.2 percent on July 27… Link to Story