Nov. 17, 2010 at 11:12 a.m.
Filed under:
Economy,
Policy,
Politics
By Reuters
Federal Reserve Chairman Ben Bernanke was briefing members of the Senate Banking Committee late Wednesday morning on the central bank’s controversial bond-buying plan, congressional aides said.
The U.S. central bank’s early November decision to launch a second round of large-scale asset purchases has led to a political backlash from Republicans who argue it is setting the ground for inflation and debasing the dollar. Get the full story »
Nov. 10, 2010 at 4:18 p.m.
Filed under:
Investing,
Stock activity
By Associated Press
Mutual fund investors continued to put their money into bond investments rather than U.S. stocks last month, despite the market’s recent gains.
Nov. 10, 2010 at 2:57 p.m.
Filed under:
Mortgages,
Policy,
Politics
By Associated Press
The Federal Reserve says it will buy a total of $105 billion worth of government bonds starting later this week as it launches a new program to invigorate the economy. Get the full story »
Nov. 9, 2010 at 3:06 p.m.
Filed under:
Policy,
Politics
From Bloomberg | Illinois is planning $1.5 billion in tobacco-bond sales as soon as Nov. 30 to pay bills and balance its budget. The bonds, to be backed by payments from a 1998 settlement with tobacco companies, will be sold the week after Thanksgiving.
Nov. 5, 2010 at 4:06 p.m.
Filed under:
Policy,
Politics
From The Bond Buyer | The city of Chicago is postponing next week’s $804 million bond sale, hoping to secure better interest rates. Chicago’s credit ranking has been cut by Fitch Ratings twice in less than three months. “We are trying to minimize the perceived Illinois penalty by showing investors that the city’s exposure to state payment delays is limited and that we don’t have the same risk as some other borrowers because of Chicago’s home-rule status,” said city chief financial officer Gene Saffold. “The state collects our share of income taxes and sales taxes but it is pretty well caught up.”
Nov. 3, 2010 at 2:57 p.m.
Filed under:
Economy
By Associated Press
Gold slipped Wednesday as many investors sold holdings for a profit ahead of the Federal Reserve’s decision to buy hundreds of billions more in Treasury bonds to revitalize the economy. Get the full story »
Nov. 2, 2010 at 11:08 a.m.
Filed under:
Economy,
Policy,
Politics
By Reuters
The U.S. Federal Reserve opens a two-day meeting on Tuesday that is expected to conclude with a decision to pump hundreds of billions of dollars into the economy to stir the tepid recovery out of its doldrums. Get the full story »
Oct. 28, 2010 at 3:10 p.m.
Filed under:
Investing,
Policy
By Kathy Bergen
Less than two weeks before Chicago plans to sell $804.3 million in bonds, Fitch Ratings downgraded the city’s bond rating for the second time in less than three months.
Fitch cited the city’s continued use of long-term financial reserves and other non-recurring revenues to patch budget deficits, its large and increasing unfunded pension liability and the high unemployment and foreclosure rates locally.
“The downgrade reflects the city’s weakened financial flexibility,” Fitch stated in the report it issued this afternoon. Get the full story »
Oct. 28, 2010 at 1:30 p.m.
Filed under:
Economy,
Investing
By Associated Press
Investors are lending $29 billion to the government in the last Treasury auction this week.
The Treasury sold seven-year notes at a 1.97 percent yield, versus 1.89 percent in September’s auction. That means it was slightly more expensive for the government to borrow $29 billion from investors this month. Get the full story »
Oct. 25, 2010 at 11:27 a.m.
Filed under:
Investing,
Mortgages,
Real estate
By Reuters
The bond insurance business, which fell to its knees during the 2008 financial crisis under the weight of soaring defaults, may have finally heard its death knell Monday. Get the full story »
Sep. 28, 2010 at 11:56 a.m.
Filed under:
Conventions,
Investing,
Management
By Kathy Bergen
The agency that owns and operates McCormick Place will approach its long-awaited financial restructuring next week with its debt ratings intact.
The three major rating services held the line on their respective ratings of Metropolitan Pier and Exposition Authority expansion project debt in reports issued Monday and today, ahead of an anticipated negotiated sale of $1.18 billion in bonds on Oct. 6. Get the full story »
Sep. 27, 2010 at 11:52 a.m.
Filed under:
Energy
Exelon Corp., the largest U.S. producer of nuclear power, plans to sell $900 million of 10- and 31-year debt to fund its purchase of a Deere & Co. wind-power unit.
The bonds may be issued as soon as today through Exelon Generation Co. according to a person familiar with the transaction. John Deere Renewables will cost $860 million with an additional $40 million if Deere starts constructing three projects in Michigan, Exelon said today in a regulatory filing that didn’t specify the debt offering’s size or timing. Get the full story »
Sep. 24, 2010 at 6:55 a.m.
Filed under:
Government
By Reuters
Moody’s Investors Service revised the outlook on Illinois’ A1 general obligation debt rating to negative from stable, citing intensified financial stress facing the state.
“The state reported a very large negative fund balance for fiscal 2009 and has faced fragile economic conditions and continuing uncertainty over its ability to meet pension funding obligations,” Moody’s said in a statement. Get the full story »
Sep. 14, 2010 at 3:39 p.m.
Filed under:
Jobs/employment,
Policy,
Transportation
By Reuters
The Illinois Finance Authority approved up to $314 million of tax-exempt revenue bonds on Tuesday for truck maker Navistar International Corp and others.
Navistar won final approval for $145 million of Recovery Zone Facility Revenue Bonds to help fund its new headquarters and research and development facility in Lisle, Illinois, and a warehouse in Joliet, Illinois.
To issue the bonds, Navistar must get allocations of the federal Recovery Zone Facility Bond volume cap from other Illinois counties and cities, according to the authority. Get the full story »
Sep. 13, 2010 at 6:49 a.m.
Filed under:
Government,
Taxes
From Bloomberg News | With a 2011 budget deficit projected at more than $650 million, the City of Chicago’s credit rating is in danger of sinking further. In fact, it already paid a premium in an August bond offering for schools.
“They’re a AA rated borrower that is trading as if it was rated A,” said Richard Saperstein, managing director at Hightower Advisors Treasury Partners in Chicago told Bloomberg. “This means they’re in line for a downgrade. The market is telling you something.” Get the full story >>