Kamala Harris’ selection of Minnesota Governor Tim Walz to be her vice president in the 2024 race catapults the former geography teacher, veteran and former Congressman to the national stage and with it, his long track record as a champion for local issues. Walz follows Walter Mondale, vice president to Jimmy Carter, and Hubert Humphrey
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Following a three-day extended rally, municipals reversed course and were mostly weaker five years and out Tuesday in secondary trading as the primary market took focus with several large deals. U.S. Treasuries sold off and equities rallied. The two-year muni-to-Treasury ratio Tuesday was at 64%, the three-year at 66%, the five-year at 66%, the 10-year
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The Chapter 11 bankruptcy saga of Iowa’s Mercy Hospital continues, with master trustee Computershare Trust filing a notice Thursday about the distribution of cash to bondholders and a status conference on Friday yielding some progress on stalled payments. According to an August 1 filing by Computershare Trust posted on the Municipal Securities Rulemaking Board’s EMMA
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Standard Digital Weekend Print + Standard Digital wasnow 89 € per month Billed Quarterly at 265 €. Complete digital access plus the FT newspaper delivered Monday-Saturday. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set
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Puerto Rico Electric Power Authority bond parties asked the U.S. Court of Appeals for the First Circuit Monday to reject the Oversight Board’s request to rehear the court’s June decision that bondholders have a lien on the authority’s net revenues. While the board’s request delays the bankruptcy, it “has the positive effect of clarifying, in
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With a fresh leadership team, an expiring third-party manager contract and a recent upgrade from Fitch, the Long Island Power Authority is set to price a billion-dollar bond issuance on Tuesday. LIPA’s $1.021 billion of electric system general revenue bonds will include $736 million of Series 2024A, tax-exempt fixed-rate bonds and $285 million of Series
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Standard Digital Weekend Print + Standard Digital wasnow 89 € per month Billed Quarterly at 265 €. Complete digital access plus the FT newspaper delivered Monday-Saturday. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set
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Record inflation may have people questioning whether homeownership is still a good investment. Home prices have been rising faster than incomes, which can be a problem for homeowners because as the value of a home rises, so does the cost to maintain it. More than 1 in 4 homeowners with mortgages are considered “cost-burdened,” meaning
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With the launch of several muni exchange-traded funds in recent weeks, there are now just over 100 muni ETFs in the space as firms ramp up their offerings to fill the gap in the marketplace and address the growing demand from clients. “There’s definitely a bit of an arms race out there,” said Brendan McCarthy,
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The Federal Deposit Insurance Corporation board shocked the municipal bond market on Tuesday with a proposal that would switch out CUSIP numbers with Financial Instrument Global Identifiers, a marker based on standards developed by Bloomberg.  “It was an opaque process, but we did hear of efforts behind closed doors to expand the scope of FDTA to include
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