Bonds

The Internal Revenue Service has finalized its regulations on electronic filing of Form 8038-CP, its return for credit payments for issuers of qualified bonds and will be requiring electronic filing for all returns filed after Dec. 31, 2023. This is part of a larger effort by the IRS to modernize its filing system after experiencing
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Municipals were mixed to end the week as U.S. Treasury yields rose double-digits five years and in and equities ended down. The three-year muni-UST ratio was at 61%, the five-year at 62%, the 10-year at 66% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the three
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Flanked by officials from the Port Authority of New York and New Jersey, New York Gov. Kathy Hochul on Thursday hosted a groundbreaking for a terminal project she said will cap John F. Kennedy International Airport’s $18 billion redevelopment. “The groundbreaking offers a complete vision for the modernized global gateway,” Hochul said at a ceremony held
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The U.S. Treasury resumed operations of its Office of Recovery Programs Contact Center on Feb. 21, providing local governments with an important link to the federal agency as they seek to complY with the conditions governing the federal money. The help desk fielded about 300 calls and about 2,000 emails a week before shuttering last October
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Greenberg Traurig gained five public finance lawyers who joined the law firm’s Houston office this month from Orrick.  Adrian Patterson, who served as Houston office leader at Orrick, joined Greenberg as a shareholder, along with Robert Collie and James Hernandez as of counsels, and Noe Hinojosa III and Donna McIntosh as associates, the law firm
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Oregon’s revenues continued to beat expectations, with the state’s economists forecasting lawmakers will have nearly $696 million more to spend than anticipated, and about $3.9 billion going back to taxpayers through the kicker rebate. The state has a trigger mechanism that returns money to taxpayers every two years through a so-called kicker rebate if personal
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Mohamed El-Erian says the financial markets are starting to doubt whether the Federal Reserve can bring inflation down to its 2% target. El-Erian, the chairman of Gramercy Funds and a Bloomberg Opinion columnist, told Bloomberg Television that inflation indicators are heading in the wrong direction, increasing worries among investors about how long it will take
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Five years ago, when I visited Puerto Rico in the wake of deadly Hurricane Maria, relief organizations brought solar-powered lights to replace the power grid that had failed catastrophically.  In the wake of severe damage to its energy infrastructure, Puerto Rico privatized its bankrupt public power utility with the promise to deliver more effective services.
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A political fight over whether natural gas fired appliances should be more strictly regulated or even banned may exacerbate the long, slow decline of municipally owned gas utilities. The U.S. Consumer Product Safety Commission has recently taken aim and heat over their recommendations about using natural gas stoves, with its chair announcing in January that it
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S&P Global Ratings upgraded Illinois by one notch Thursday for ongoing progress in chipping away at its debts and rebuilding its rainy day fund. The action — lifting $26.5 billion of general obligation bonds to A-minus from BBB-plus — puts the state back into the single-A category for the first time in seven years and
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Municipals were mixed Thursday as outflows from muni mutual funds intensified. U.S. Treasuries were firmer, and equities ended up. The three-year muni-UST ratio was at 63%, the five-year at 64%, the 10-year at 67% and the 30-year at 92%, according to Refinitiv MMD’s 3 p.m. ET read. ICE Data Services had the three at 63%,
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Arkansas Gov. Sarah Huckabee Sanders’ sweeping K-12 education plan passed the Senate Thursday as it continued on a fast trajectory through the legislature despite bipartisan calls to slow down the measure, which includes a phased-in, universal school voucher program. The Republican governor’s Arkansas LEARNS plan received its first public airing on Wednesday before the Senate
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Lawmakers in Massachusetts are considering legislation to establish a “baby bond” program, an effort proponents believe will help address racial wealth disparities. Following nearly a year of work by the office of State Treasurer Deborah Goldberg in researching potential plans the bill was submitted to state lawmakers this week. “Baby Bonds is a proactive approach
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The Puerto Rico Oversight Board received some support in its battle over discovery with Puerto Rico Electric Power Authority bondholders, but the court has yet to weigh in. Puerto Rico’s Fiscal Agency and Financial Advisory Authority filed a joinder Thursday, supporting the board’s position on discovery. “There will be a time and place to bring
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