Tag: Municipal Bond Credit
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Municipal Bond Credit Report: State sales tax revenue dropped 21% in May, may take years to recover
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: State sales tax revenue dropped an average of 21% in May, according to data released Tuesday, highlighting the severe impact of the COVID-19 pandemic on state and local economies… Link to Story
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Municipal Bond Credit Report: U.S. June Consumer Prices Rose Sharply as Reopenings Prompted More Buying
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: U.S. consumer prices rose sharply in June while states were broadening efforts to reopen, with costs snapping back for products and services that were hit hard by the coronavirus pandemic… Link to Story
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Municipal Bond Credit Report: Coronavirus Spending Pushes U.S. Budget Deficit to $3 Trillion for 12 Months Through June
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The U.S. budget deficit reached $3 trillion in the 12 months through June as stimulus spending soared and tax revenue plunged, putting the federal government on pace to register the largest annual deficit as a share of the economy since World War II… Link to Story
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Municipal Bond Credit Report: Fed’s Williams: SOFR Rate System Has Performed Well During Coronavirus Crisis
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Federal Reserve Bank of New York President John Williams said Monday that a replacement for the scandal-plagued Libor interest-rate reference regime has fared well amid the stresses seen in the financial system during the coronavirus pandemic… Link to Story
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Municipal Bond Credit Report: California Audit Delayed
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The transition to the new statewide accounting, budget, cash management and procurement system as well as the impact of the implementation of measures by State departments intended to mitigate the spread of COVID-19 continue to cause a delay in the completion of the 2019 CAFR… Link to Story
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Municipal Bond Credit Report: The muni market overall is set for more gains, but some bonds are riskier than they appear
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Municipal bonds outperformed Treasurys in June and they could continue to see good demand this summer, even as the pandemic limits economic activity and strains state budgets… Link to Story
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Municipal Bond Credit Report: U.S. Initial Unemployment Claims Edged Lower in Latest Week
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: New applications for unemployment benefits edged down last week and the number receiving payments fell to the lowest level since mid-April, signs the labor market is healing and so far not significantly affected by a rising number of Covid-19 cases in several states… Link to Story
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Municipal Bond Credit Report: For Pensions, Valuing Real Estate Is Tough. Covid-19 Brings New Hurdles
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Public pension funds invested in malls, apartments and offices over the last decade in search of higher returns. Now they are grappling with how much those real-estate investments are worth in a world transformed by Covid-19… Link to Story
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Municipal Bond Credit Report: North Dakota’s temporary closure of a county jail over death triggers rating review
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The state-ordered temporary closure of a North Dakota county’s debt-financed jail for procedural violations — that came to light after the death of a person in custody — poses new threats to the county’s already speculative grade ratings… Link to Story
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Municipal Bond Credit Report: Recession Forces Spending Cuts on States, Cities Hit by Coronavirus
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: State and local governments from Georgia to California are cutting money for schools, universities and other services as the coronavirus-induced recession wreaks havoc on their finances… Link to Story