Detroit Municipal Bonds

a small municipal bond deal for a Michigan county was postponed due to “lack of investor interest.” This is unusual, given the yield premium offered on the bonds. The Wall Street Journal has the story.

Unlike Detroit—whose financial demise has spanned decades—Puerto Rico’s woes are new enough to take some investors by surprise. Municipal bond funds have been attractive places for institutional inves.

Muni bond investors also were spooked by high-profile troubles with bonds issued by Harrisburg, Pa., and Detroit, as well as problems with bonds in Chicago, California and Puerto Rico. Detroit, which.

It’s not only tough from an emotional perspective to see one of our great cities, Detroit, go bankrupt, but the disaster has also caused a lot of pain in the municipal bond market where investors are.

The insurers asked U.S. Bankruptcy Judge Steven Rhodes, who is currently determining whether Detroit is eligible for municipal bankruptcy, to force the city to set aside the tax money for bond payment.

Not long after Hazen S. Pingree entered the office of Mayor of Detroit in 1890, the owners of the city’s streetcar companies found themselves entangled in a long and on-going battle with

In Detroit’s bankruptcy, for the first time in the history of the $3.7 trillion muni market, general obligation bondholders are being treated like ordinary creditors. Normally, GO bonds rank at the to.

Not all municipal bonds are alike. With Atlantic City, Detroit, Harrisburg, and Puerto Rico facing defaults in recent years, are investors taking on more risk than they realize? "To buy a muni bond an.

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When Detroit began its official spiral into bankruptcy, it rattled the municipal market at exactly the time El Paso was issuing revenue-backed bonds to finance a new minor league baseball stadium. Cit.

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Detroit, Michigan detailed profile. Single-family new house construction building permits: 1997: 74 buildings, average cost: $116,700 1998: 79 buildings, average cost: $203,500.

An investment management firm committed to investors’ complete comfort in their municipal portfolios.

How has Puerto Rico been funding itself? Puerto Rico lost access to the traditional municipal bond market in February 2013 after ratings firms downgraded it to so-called junk status. That has made it more expensive for the country to fund itself because lenders demand a greater return to lend to creditors considered on the lowest rung by.

CHICAGO (Reuters) – Detroit’s historic bankruptcy filing could upend long-established market views on the high standing of general obligation bonds, the form of debt sold most frequently in the U.S. m.

Discover some of the advantages to investing in tax-free municipal bonds including general obligation bonds and revenue bonds.

WASHINGTON (Reuters) – Detroit accounted for three of the seven defaults last year on municipal bonds rated by Moody’s Investors Service, the credit rating agency said on Wednesday. Even before the ca.

Detroit: Detroit, city, seat of Wayne county, southeastern Michigan, U.S. It is located on the Detroit River (connecting Lakes Erie and St. Clair) opposite Windsor, Ontario, Canada.

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A day after receiving approval from a federal judge overseeing its historic bankruptcy case, Detroit offered the bonds in the U.S. municipal market. Underwriters led by Citigroup priced $937 million o.

The worries began when interest rates started to rise in the spring and heightened after Detroit became the biggest city in the country to ever file for bankruptcy. The selloff is reminiscent of one t.

The Municipal Finance Conference aims to bring together academics, practitioners, issuers, and regulators to discuss recent research on municipal capital markets and state and local fiscal issues. Michael Belsky is the Executive Director of the Center for Municipal Finance at Harris and teaches a.

Holders of $AGO bonds, whether for Puerto Rico, Detroit, or anywhere else, are fully protected by our unconditional guaranty. #muniland Municipal Market Advisors reported that mutual funds are having.

It’s hardly surprising that Detroit’s insolvency – the largest municipal bankruptcy filing in U.S. history – should have rocked the muni bond market. After all, one of the reasons that these securitie.

Readers of MONEY’s print edition shouldn’t be surprised. (Remember, as bond prices rise, yields fall.) Muni bonds had a rough 2013, declining about 2.6% at a time when Detroit’s fiscal problems wer.

Goldman Sachs and three other banks have signed on to a new bond platform under development by Bank of America, Citigroup and JPMorgan, as Wall Street clubs together to maintain its influence on the lucrative market for debt issuance. Wells Fargo, BNP Paribas and Deutsche Bank are also joining the.

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President – Scott Benson City Council Member, Detroit, MI Scott Benson is an Urban Planner with a strong commitment to real estate development in Southeastern Michigan.

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Muni bond investors also were spooked by high-profile troubles with bonds issued by Harrisburg, Pa., and Detroit, as well as problems with bonds in Chicago, California and Puerto Rico. Detroit, which.

The Windy City is using complex bonds to delay a financial reckoning and avoid cleaning up its fiscal mess.

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Detroit (/ d ɪ ˈ t r ɔɪ t /) is the most populous city in the U.S. state of Michigan, the largest city on the United States–Canada border, and the seat of Wayne County.The municipality of Detroit had a 2017 estimated population of 673,104, making.

As a result, it finds itself in a uniquely awful position. It can’t enter bankruptcy, according to its own laws, so now it has to deal exclusively with its creditors to restructure its debt. That means it has to deal with Wall Street. "I think the surprise was that it.

Meanwhile, court mediators have scheduled sessions on Thursday and Friday with Detroit, bond insurance companies and municipal bond funds over outstanding water and sewer bonds. (Reporting by Cherie C.