Bonds

Bull vs. Bear When dealing with the terms ‘bear’ and ‘bull’ in regard to the stock market, it is important to be able to differentiate between the two. These words are describing the behavior of the market, and correspondingly, how well your portfolio will fare that day. Bear market A bear market means that the
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Cook County, Illinois, is bracing for a $200 million tax blow due to the economic shutdown brought about by COVID-19, the county’s finance team said Friday. That doesn’t account for an additional $60 million to $75 million whack to health system revenues, though some of that is expected to be reimbursed with hospital-related federal relief.
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Wisconsin drew 15 bids and new investor interest on its first green-designated bonds as it stepped into a growing primary market Wednesday with $80 million of its triple-A state revolving fund bonds. Barclays submitted the winning bid on the competitive sale with a true interest cost of 2.64%. The cover bid came from Morgan Stanley
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As California and America look forward to relaxing restrictions, it’s time to look ahead to meeting the onrushing financial crisis. The coronavirus has created such a massive disruption to the world’s stock markets that almost all California public employee defined-benefit pension plans will never recover. At a minimum, they must be put on a fiscal
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The municipal market was mostly quiet Friday as participants came off a week of a strong rally, an awakened new-issue market and the first fund inflows since February as they cautiously await another week with more deals on tap and continued questions of support out of Washington. Triple A benchmarks showed slight weakness with most
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Illinois Gov. J.B. Pritzker said the state will provide more information about the budgetary impact of COVID-19 later this week as the state struggles with rising costs and lost tax revenue due to the pandemic. Pritzker has not offered any spending and revenue projections to date and it’s unclear exactly what will be announced later
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Nuveen Investments unlawfully waged a campaign to pressure banks and broker-dealers to boycott Preston Hollow Capital LLC’s direct lending business as the two competed for high-yield deals, a judge concluded Thursday. The long-awaited decision in Dallas-based PHC’s 2019 lawsuit accusing the Chicago-based investment powerhouse of defamation, anti-trust, and unlawful business interference sided with PHC in
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Kansas Gov. Laura Kelly has signed into law a $10 billion transportation plan designed to maintain the state’s highways while supporting jobs in an economic downturn. Senate Bill 173 won legislative approval last month as lawmakers were rushing to finish their work on the state budget so they could clear out of Topeka during the
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Oklahoma lawmakers on Monday granted Gov. Kevin Stitt extraordinary power to bypass state laws in responding to the COVID-19 pandemic. Meeting in a special session Stitt called last week, the Legislature enacted the Catastrophic Health Emergency Powers Act that allows Stitt to waive statutory and regulatory requirements and redirect state agency or state employee efforts
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The NCAA, after canceling winter and spring championships that include its lucrative “March Madness” men’s basketball tournament, was hit with a negative outlook. Moody’s Investors Service lowered its outlook on the organization’s Aa2 rating to negative from stable March 23.. S&P Global Ratings rates the Indianapolis-based organization AA, outlook stable. The organization has roughly $9.6
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Yields in the municipal market declined slightly Monday as new-issue market showed some signs of activity. Municipal credit is beginning to emerge as more of an investing consideration as the market deals with the coronavirus-led selloff and subsequent Fed-led rebound. These moves are starting to make participants pick winners and losers from a credit perspective
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Puerto Rico bankruptcy Judge Laura Taylor Swain on Friday ordered the postponement of deadlines in the central government bankruptcy. The Puerto Rico Oversight Board, citing the impact of the COVID-19 virus on the island and involved lawyers, asked for the postponement on Sunday. Puerto Rico bankruptcy Judge Laura Taylor Swain has delayed some parts of
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