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Municipal bonds issuance up from a year ago
Municipalities stepped up their issuance of bonds by 5.3% in January, from a year ago, according to The Bond Buyer.
Morningstar unveils gov’t-backed bond index
The genesis of the index is the Temporary Liquidity Guaranty Program created by the Federal Deposit Insurance Corp., which allows bank holding companies to issue senior unsecured debt guaranteed by the U.S. government.
S&P: Corporate-junk-bond defaults will soar
The default rate for issuers of U.S. corporate junk bonds — bonds that Standard & Poor’s rates BB+ and below — is expected to “catapult” to an all-time high of 13.9% by December, S&P said in a report today.
MSRB defends its oversight efforts
The Municipal Securities Rulemaking Board defended its oversight of the municipal-bond industry amid a federal investigation of bid…
Barney Frank proposes TARP restrictions
The Department of the Treasury would be required to take significant steps to mitigate foreclosures under legislation outlined…
SIFMA adds municipal bond expert
SIFMA has hired Leon J. Bijou as managing director and associate general counsel in a bid to expand its municipal bond expertise.
Debt issuance fell 29% in 2008
Global bond underwriting activity declined by 29% in 2008 to $4.33 billion, the lowest level since 2000, according to data from Dealogic Holdings PLC of London.
MSRB to open window on variable-rate munis
The Municipal Securities Rulemaking Board has submitted a plan for approval by the SEC today to collect and disseminate critical market information about auction rate bonds and other variable-rate municipal securities.
Lack of clarity undermines TARP, firms say
Fully 91% of firms said a lack of clarity about the way the federal government’s Troubled Asset Relief Program works is making them less willing to participate in it.
Junk bonds seen as stock alternative for bargain hunters
It's understandable that bargain hunters are drawn to beaten-down stocks, but they may be doing themselves a disservice if they don't also consider junk bonds
MSRB announces senior management changes
The Municipal Securities Rulemaking Board has promoted two staff members to new roles and hired a new member to its senior management team.
U.S. to buy equity stakes in major banks
In an effort to breathe life into the struggling economy, the Treasury Department will inject $250 billion into banks, while the FDIC took steps to help depositors.
Bond fund costs Schwab more than $500,000
The Charles Schwab Corp. short-term-bond fund that blew up this year because of its exposure to mortgage-backed securities is now costing the firm as a result of significant legal losses.
Treasury: Firms to roll out covered bonds
“This is a tough environment to launch a new financial product,” said Neel Kashkari, assistant secretary of the Department of the Treasury, but “never has the market needed this financial product as much as we need it now.”
Fifth Third said to be selling off muni funds
Fifth Third Asset Management Inc. is selling off all its municipal bond funds to Federated Investors Inc., according to the website fundaction.com.
Muni death watch concerns advisers
Many financial advisers consider municipal bonds to be relatively safe investments, but that image took a hit last week when Jefferson County, Ala., moved a step closer to what could be the largest municipal bond default in U.S. history.
Bond insurers boosted by upbeat report
MBIA Inc. and Ambac Financial Group Inc. rallied in early trading following a positive report from Standard and Poor’s.
Curian offers muni-bond ETFs
A tax-exempt strategy that utilizes exchange traded funds investing in municipal bonds has been announced by Curian Capital.
Berkshire slumps, MBIA back in black
Berkshire Hathaway reported net earnings declined to $2.88 billion from $3.12 billion a year ago.
Prudential agrees to settle with SEC
Prudential Financial yesterday agreed to settle allegations from the SEC that it used reinsurance contracts to overstate its income by more than $200 million.
