Municipal Bonds
Build America Issuers Pay Banks $100 Million More Than For Tax-Exempt Debt States and municipalities paid an
average 37 percent more to investment banks for underwriting
Build America Bonds than for handling tax-exempt sales since
offerings of the subsidized taxable debt began in April.
Miami May Delay $120 Million Bond Offering on Audit, Possible SEC Inquiry Miami may delay a $120 million bond
sale after an audit showed lax budget practices and the city
learned of a possible U.S. Securities and Exchange Commission
inquiry, Mayor Tomas Regalado said.
Corzine Seeks Cuts to Schools, Cities Amid Estimated $1 Billion Deficit New Jersey Governor Jon Corzine
plans to cut pension contributions as well as aid to schools,
cities and hospitals to close a deficit of more than $1 billion
that has emerged less than five months into the fiscal year.
Two-Year Treasuries Gain Most This Month on Dubai Debt-Payment Delay Plan Treasury two-year notes advanced,
pushing the yield to its lowest level in 11 months, after
Dubai’s proposal to delay debt payments sparked a global slide
in stocks and higher-yielding assets.
Dubai Woes May Escalate to `Major Sovereign Default,' Bank of America Says Dubai’s debt woes may worsen to
become a “major sovereign default” that roils developing
nations and cuts off capital flows to emerging markets, Bank of
America Corp. said.
Crude Oil Drops to Lowest in Six Weeks as Dubai Debt Concern Boosts Dollar Crude oil in New York fell as
Dubai’s attempt to reschedule its debt bolstered the dollar and
prompted investors to sell commodities.
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