The recent success of the Dormitory Authority of the State of New York (DASNY) in selling $1.2 billion of revenue bonds is a testament to the robust demand for highly rated state bonds in a calm market environment. According to DASNY spokesperson Jeffrey Gordon, last week’s bond sale was a success due to the favorable
Agency
The housing market has undergone significant changes in recent years, with one of the key factors being the fluctuation in mortgage rates. The 30-year mortgage rate, a popular option for homebuyers, plays a crucial role in determining the affordability of purchasing a home. While the rate has cooled slightly from its peak, it still remains
Following the U.S. Supreme Court’s recent decision to overturn the Chevron doctrine, House Republican leaders have initiated a review of the Biden administration’s environmental, social, and governance agency regulations. This decision has led to significant concerns among policymakers regarding the impact of the ruling on existing regulations and future rulemaking. House Transportation and Infrastructure Committee
The Biden administration recently announced that public infrastructure built with federal emergency funds must adhere to stricter flood-risk standards to combat the escalating climate risk. This new standard, years in the making, mandates that buildings and other infrastructure constructed with Federal Emergency Management Agency (FEMA) funds should either be elevated higher above local flood levels
In a move that could potentially shake up the pharmaceutical industry, the Federal Trade Commission (FTC) is reportedly planning to sue three major U.S. health companies for their practices as middlemen in negotiating prices for medications, particularly insulin. The agency alleges that these practices are inflating costs for patients, causing concern among consumers and industry
The Massachusetts Bay Transit Authority (MBTA) recently priced over $1 billion of senior sales tax bonds amid the ongoing challenges posed by the COVID-19 pandemic. Like many other transit agencies across the country, the MBTA is grappling with significant ridership and revenue losses in a world where remote work has become the norm. This article
The Illinois state comptroller recently reported a 55% year-over-year increase in the end-of-year general revenue fund cash balance, showcasing a significant improvement in the state’s financial management. This improvement is a stark departure from previous years when the state struggled with massive unpaid bill backlogs that exceeded $10 billion. The current balance of $1.7 billion
The Metropolitan Pier and Exposition Authority (MPEA) in Chicago has approved the sale of up to $231 million in refunding bonds for the McCormick Place Expansion Project. This project aims to upgrade the Lakeside Center building and renovate the guest rooms at the Hyatt Regency McCormick. The Series 2024A and Series 2024B bonds are set
As the second half of the year unfolds, fixed-income investors are urged to assess their portfolios and make necessary adjustments. Initially, there were expectations of multiple interest rate cuts by the Federal Reserve in 2019. However, the Fed has maintained the federal funds rate at the range of 5.25% to 5.50%. There is a growing
Boeing’s Starliner capsule, named “Calypso,” was originally planned to stay at the International Space Station for nine days as part of its crew flight test mission. However, NASA announced that Calypso’s mission has been extended to at least 17 days to allow for further testing of the spacecraft while docked at the ISS. The decision