Municipal Markets

Chicago Bonds Gain as Mayor Moves Toward Raising Property Taxes

September 9, 2015

BY ELIZABETH CAMPBELL, BLOOMBERG NEWS Chicago bonds are showing signs that investors are becoming more optimistic as Mayor Rahm Emanuel considers raising property taxes to shore up an underfunded pension system that’s triggered downgrades to the city’s credit rating. Federally tax-exempt Chicago bonds maturing in 2034 traded yesterday for an

Student-Loan, Health-Care Debt Most Risky as Spreads Widen in Three-Month Period

September 9, 2015

The student loan and health-care sectors in the municipal market are the riskiest, with spreads of 165 basis points and 87 basis points, respectively, above Bloomberg’s five-year AAA muni benchmark, according to Bloomberg’s municipal credit risk model. Spreads widened by 38 basis points and one basis point in both sectors

Cheap Gas, More Jobs Drive Up Gridlock Index

September 3, 2015

Drivers wasted 6.9 billion hours stuck in traffic last year in the U.S. as job growth put more workers in cars, according to the 2015 Urban Mobility Scorecard from Texas A&M Transportation Institute and INRIX. The return of jobs lost during the recession and above-average population growth in some of

Prepa Said to Reach Tentative Debt Agreement

September 2, 2015

BY MICHELLE KASKE, BLOOMBERG NEWS Puerto Rico’s main power utility has reached a tentative agreement with bondholders to restructure the agency’s almost $9 billion debt burden, according to two people with direct knowledge of the talks. Under the agreement, holders of Puerto Rico’s Electric Power Authority debt would exchange existing

Municipal Market Weekly Digest for August 28th

August 28, 2015

This edition contains the top stories and data for the week ending Aug. 28, 2015. Click here to view the full issue. 

Denver, San Francisco Lead Home Price Gains as Housing Recovery Continues

August 26, 2015

Home prices in 20 U.S. cities climbed 5 percent in June from the same month a year earlier, a sign of more progress in the housing market. The increase in the S&P/Case-Shiller index of property values matched the year-over-year gains in the prior three months, the group said Tuesday in

Philadelphia Airport Refinances, Embarks on Capital Plan

August 24, 2015

Philadelphia is expected to sell $95.7 million of Philadelphia Airport revenue refunding bonds tomorrow, subject to the alternative minimum tax. The airport was recently downgraded one notch by Standard & Poor’s, due to future debt issuance. According to bond documents, the city plans to pursue several approved capital projects. Under

Municipal Market Weekly Digest- August 21st

August 21, 2015

This edition contains the top stories and data for the week ending August 21, 2015. Click here to view the full Municipal Market Weekly Digest. 

Richest Small Towns in America Are by Mountains of Fresh Powder

August 20, 2015

Ever heard of Summit Park, Utah, or Edwards, Colorado? Maybe not, especially if you’re not an avid skier or snowboarder. Ski resorts, however, aren’t the only thing these places have in common—they’re also among the wealthiest small towns in the U.S. The map shows the 20 micropolitan areas (about 10,000

Christie, Foxx Seek ‘Substantial’ U.S. Grant for Tunnel

August 19, 2015

  BY TERRENCE DOPP, BLOOMBERG NEWS New Jersey Governor Chris Christie and U.S. Transportation Secretary Anthony Foxx agreed to work together to obtain a “substantial” federal grant toward building a new tunnel under the Hudson River to Manhattan. The duo, along with New Jersey’s U.S. Democratic Senators Cory Booker and