Bonds

Whatever the outcome of the midterm elections that are now only weeks away, municipal bond market advocates will remain committed to core priorities while investors will be focused on intrest rates and inflation. Protect the tax exemption. Bring back tax-exempt advance refunding. Raise the ceiling on bank-qualified debt. Create a direct-pay bond program. Reduce the
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With their revenues beating expectations through stronger-than-expected tax receipts and federal pandemic aid, many states have used the extra funds to pay down unfunded pension liabilities accrued in some cases over decades, according to a Pew Charitable Trusts report on state pension systems. The combination of increased contributions and surging investment returns “has had a
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Fitch Ratings upgraded New Jersey’s issuer default rating to A from A-minus and raised the ratings on the state’s $5.5 billion of general obligation bonds and $484 million of Garden State Preservation Trust revenue bonds that are linked to or capped by the state’s IDR. Fitch also raised the state’s qualified bond program and school
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