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Keyword: bonds

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  • PA Turnpike tolls go up 6% in 2020, but smaller increases expected beginning in 2023

    12/31/2019 4:45:29 PM PST · by Tolerance Sucks Rocks · 31 replies
    The Pittsburgh Post-Gazette ^ | December 29, 2019 | Ed Blazina
    Pennsylvania Turnpike users can expect 6% toll increases in 2020 and 2021 but then — if the state Legislature follows through with plans to change how the state funds public transit — the rate of annual increases gradually will go down to 3% in 2028. Nikolaus Grieshaber, the turnpike’s chief financial officer, outlined the agency’s financial future recently in an interview with the Pittsburgh Post-Gazette about the 6% toll hike that begins Jan. 5. The increase marks the 12th year in a row that rates have gone up and will increase the fee for a car traveling the length of...
  • Opinion: Putting all your money into stocks like a CNBC anchor advocates is a bad idea: In defense of the 60/40 portfolio

    12/25/2019 6:46:28 PM PST · by SeekAndFind · 14 replies
    Market Watch ^ | 12/24/2019 | Mark Hulbert
    I rise, your Honor, in defense of the 60/40 portfolio.I do so to counter the growing consensus that the standard asset allocation of 60% equities and 40% bonds is “dead.” Just last week, CNBC anchor Becky Quick added her voice to this chorus, saying that “you’re never going to make enough money if you have 40% of your money in bonds.” Earlier this fall, Bank of America declared the “end” of the 60/40 portfolio.To be sure, no one is denying that the 60/40 portfolio has a stellar long-term track record. Consider its performance since 1926, according to calculations I made...
  • P3s can add significant costs to Canadian highway projects, study finds

    11/27/2019 2:55:22 PM PST · by Tolerance Sucks Rocks · 18 replies
    Construction DIVE ^ | November 13, 2019 | Jenn Goodman
    A study of the public-private partnership project delivery method has some cautionary advice for governments and contractors considering them. Entitled "Highway Robbery: Public Private Partnerships and Nova Scotia Highways" by the Canadian Centre for Policy Alternatives, the study urges jurisdictions to stop using the model to build highways. The report concludes that governments should instead employ traditional public procurement, based on its findings that contracting out services through a P3 is more expensive than public procurement, has the potential to compromise highway safety, needlessly duplicates government services and lacks mechanisms for public accountability. “Public infrastructure and services should remain fully...
  • MPs demand Zelensky, Trump investigate suspicion of U.S.-Ukraine corruption involving $7.4 bln

    11/20/2019 8:16:10 AM PST · by COUNTrecount · 71 replies
    Interfax-Ukraine ^ | November 20, 2019
    KYIV. Nov 20 (Interfax-Ukraine) – Ukrainian members of parliament have demanded the presidents of Ukraine and the United States, Volodymyr Zelensky and Donald Trump, investigate suspicions of the legalization of $7.4 billion by the "family" of ex-President Viktor Yanukovych through the American investment fund Franklin Templeton Investments, which they said has ties to the U.S. Democratic Party. At a press conference at the Interfax-Ukraine agency on Wednesday, MP Andriy Derkach announced that deputies have received new materials from investigative journalists about international corruption and the participation of Ukrainian officials in it. "Last week, November 14, the Prosecutor General's Office (PGO),...
  • UPDATE 1-Germany sells new 30-year bond with negative yield, a first

    08/21/2019 7:05:04 AM PDT · by Leaning Right · 61 replies
    Reuters ^ | Aug 21, 2019 | Dhara Ranasinghe, Michelle Martin
    LONDON/BERLIN Aug 21 (Reuters) - Germany sold 30-year bonds with a negative yield for the first time at an auction on Wednesday, a milestone for a fixed-income market where the entire curve now yields less than zero. The euro zone’s benchmark bond issuer sold 824 million euros of the new long-dated bonds against a target of 2 billion euros, with an average yield of -0.11%. The coupon on the bond was set at 0% earlier this week.
  • The Trade War Isn’t The Only Reason For The Dow’s Big Drop (Why Trade Talks With China Broke Down)

    08/08/2019 9:54:59 AM PDT · by SeekAndFind · 12 replies
    The Federalist ^ | 08/08/2019 | By Willis L. Krumholz
    Last week, President Trump threatened to place a 10 percent tariff on $300 billion worth of Chinese imports on September 1 unless trade talks with China showed more sign of progress. Already, America has tariffed $250 billion of Chinese imports at 25 percent, and if tariffs are placed on the $300 billion basket of goods, this would increase tariffs on all Chinese imports to the United States.President Trump is unhappy that talks last week in Beijing between Chinese officials and U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin broke down. He’s also unhappy that China hasn’t...
  • Bond market fights Fed, interest rates drop sharply in blowout move

    08/01/2019 10:06:41 AM PDT · by Moonman62 · 18 replies
    CNBC ^ | 08/01/19 | Patti Domm
    *** The bond market is taking on the Fed, betting the Fed is mistaken in its view that it does not need to cut rates very much, strategists say. *** The market is betting inflation will be much lower than the Fed expects it will be, and that will force the Fed to keep cutting rates. *** Stunning moves across the Treasury curves sent yields sharply lower, and the benchmark 10-year yield was edging toward a 3-year low, while stocks rose sharply in response. The bond market is bent on having its way and is now pricing in a Fed...
  • FBI raids DWP, L.A. City Hall, serving search warrants

    07/22/2019 3:19:15 PM PDT · by Enterprise · 29 replies
    https://www.latimes.com ^ | JULY 22, 2019 | DAKOTA SMITH, DAVID ZAHNISER, ALENE TCHEKMEDYIAN, LAURA J. NELSON
    The FBI conducted a search of the downtown headquarters of the Los Angeles Department of Water and Power and City Hall, officials said Monday. “There is a search taking place at the DWP building. The affidavit in support of the search warrant is under seal by the court,” said Rukelt Dalberis, an FBI spokesman in Los Angeles. Law enforcement sources said the FBI was also at Los Angeles City Hall.
  • The Interstate Is Crumbling. Try Fixing the Section Used by 200,000 Vehicles a Day.

    06/22/2019 3:43:56 PM PDT · by Tolerance Sucks Rocks · 33 replies
    The Wall Street Journal ^ | May 28, 2019 | Arian Campo-Flores and Paul Overberg
    ORLANDO, Fla.—The state dubbed it the I-4 Ultimate for its grand scope. For some here, it’s more like the ultimate headache. A reconstruction of 21 miles of congested interstate highway through the heart of Orlando will build or rebuild 140 bridges, redesign 15 interchanges, move exits and add new toll lanes, in a $2.3 billion project to smooth traffic through one of the nation’s fastest-growing cities. Dense cities have grown up around the aging freeways, hemming them in so that expensive engineering feats are needed to do work on them. Yet work is often unavoidable. I-4, for instance, was built...
  • 21st Century Policy Opinion: Stop Federal Spending Outside Freight Corridors

    06/12/2019 4:39:38 PM PDT · by Tolerance Sucks Rocks · 18 replies
    For Construction Pros ^ | June 10, 2019 | Marc Scribner, senior fellow at the Competitive Enterprise Institute
    The U.S. Interstate Highway System is the backbone of American commerce and personal travel. Funded on a pay-as-you-go basis largely through federal excise taxes on motor fuel, today it accounts for 25% of total vehicle-miles traveled despite accounting for just 2.5% of total road network lane-miles. Yet, much of the Interstate system, construction of which began in the 1950s, is nearing the end of its functional life, along with the infrastructure of other surface transportation modes. Over the next two decades, trillions of dollars of investment will be needed to rehabilitate and in some cases rebuild this infrastructure, according to...
  • Cory Booker gives details on 'baby bonds,' a 'new American birthright'

    06/03/2019 2:15:11 AM PDT · by Libloather · 44 replies
    Yahoo ^ | 5/31/19 | Hunter Walker
    WASHINGTON — One of the most dramatic policy initiatives by Sen. Cory Booker, D-N.J., in his presidential campaign is a plan to provide $1,000 grants to every baby born in the U.S. The money would come in the form of a “baby bond” that would be added to during childhood, on a sliding scale depending on the family’s income. Booker and his campaign released a new analysis on Friday morning that provided further details about how his plan would address “the growing wealth gap.” “So many Americans’ lives are dictated by how much money is in their parents’ bank accounts,”...
  • Should ‘Roads to Prosperity’ turn toward West Virginia pothole repair?

    03/28/2019 10:43:11 PM PDT · by Tolerance Sucks Rocks · 5 replies
    WV Metro News ^ | March 12, 2019 | Brad McElhinny
    CHARLESTON, W.Va. — West Virginia has a mountain of borrowed money on hand for “Roads to Prosperity” highways projects. Should a slice of that money be diverted to fix bumpy, bouncy secondary roads? West Virginia went to market with $800 million in bonds last May. Because of advantageous interest rates, the state actually wound up with bonds valued at $915 million. Since then, very little has been used. According to documents available through the state Auditor’s Office, only $11,133,309.19 had been spent as of earlier this week. Meanwhile, the money in reserve generated $13,666,081.46 in interest. So what’s been spent...
  • Don't Panic Over Inverted Yield Curve; Here's The Key Chart For Dow Jones

    03/25/2019 9:33:32 AM PDT · by SeekAndFind · 13 replies
    IBD ^ | 03/25/2019 | Jed Graham
    Recession talk flared up on Friday as the 10-year Treasury yield tumbled below that of the 3-month Treasury. While this signal has a spot-on track record in predicting a recession, there are reasons to take it with a grain of salt now. But another key economic indicator also flashed a worrying sign. The breakout of copper prices last month signaled that 2019 might be like 2016. That year saw the global economy rebound and the Dow Jones start a new leg to much greater heights. Yet that breakout failed on Friday, casting doubt on whether a new global upturn is...
  • Interstate 4 builder's claim: 8-month delay and $100 million over budget

    02/08/2019 9:03:23 PM PST · by Tolerance Sucks Rocks · 7 replies
    The Orlando Sentinel ^ | July 12, 2018 | Kevin Spear
    Interstate 4’s overhaul will run eight months beyond a scheduled finish in early 2021 and $100 million over a $2.3 billion budget, according to a recent claim by the builder. Neither the builder, I-4 Mobility Partners, nor the state Department of Transportation previously had publicly disclosed a potential change in schedule or budget. Details first emerged from Moody’s Investors Service, with reports on I-4 Mobility’s financial footing. The state Department of Transportation issued a statement on Thursday, emphasizing that the I-4 Mobility Partners claim remains undetermined. “While the claim is being reviewed, construction activities are continuing and the contractor is...
  • One-time bond king Bill Gross to retire from Janus Henderson

    02/04/2019 9:09:11 AM PST · by SeekAndFind · 3 replies
    CNBC ^ | 02/04/2019
    Bill Gross, the one-time bond king who built investing giant Pimco from the ground up 48 years ago then went on to run his own fund at Janus Henderson, announced his retirement Monday. The retirement, effective March 1, marks the end of an era, closing a career for a fixed income expert who once had the ear of policymakers in the highest places. After leaving Pimco, Gross was never able to regain the standing he once held, and the fund he ran for Janus Henderson had badly underperformed for most of the nearly five years he had been there. "I've...
  • VIEW FROM AROUND THE STATE: Time to get real about roads and revenue

    10/17/2018 6:52:53 AM PDT · by Tolerance Sucks Rocks · 12 replies
    The Daily Reporter ^ | October 16, 2018 | The Associated Press
    f you want good roads, you have to pay for them. It’s not just the politicians in Madison and Washington, D.C., who have failed to learn that lesson. It’s the people of Wisconsin, too.
  • Anti-toll movement may upend North Carolina’s first transportation P3

    10/12/2018 1:07:10 AM PDT · by Tolerance Sucks Rocks · 13 replies
    The Bond Buyer ^ | September 12, 2018 | Shelly Sigo
    North Carolina officials are trying to figure out how to unwind parts or all of a 2014 public-private partnership that is building managed toll lanes on a Charlotte-area highway.Ever since the ink dried on North Carolina’s first transportation P3 contract, the plan to relieve severe congestion in the Charlotte region has generated controversy.Public opposition remains just as fierce today to the project that will add express lanes on Interstate 77, even though more than one report says the deal with I-77 Mobility Partners LLC, a consortium led by Cintra Infraestructuras S.A., was properly authorized and permitted.The 26-mile-long project is designed...
  • [B]ond market is sounding an alarm...as 'yield curve' spread hits narrowest in 11 years...

    07/13/2018 4:29:24 PM PDT · by BenLurkin · 13 replies
    cnbc ^ | 07/13/2018 | Patti Domm
    Some market pros say that warning from the Treasury yield curve, which has long been viewed as reliable, is not as relevant as it once was because of the long years of central bank easing that has depressed interest rates and turned debt markets into far more placid arenas. The curve has been getting flatter by the day — meaning short-end interest rates are rising faster than long-term rates, and they are growing closer together. A flattening curve is a warning about economic weakness ahead, but should the curve invert— where the short end yield, like the 2-year, is actually...
  • It’s Time to Rethink America’s Failing Highways

    06/18/2018 8:13:18 AM PDT · by Tolerance Sucks Rocks · 80 replies
    National Review ^ | June 12, 2018 | Robert Poole
    Here are two recent events you might have missed: In March, House speaker Paul Ryan was widely quoted as saying, “The last thing we want to do is pass historic tax relief and then undo that, so we are not going to raise gas taxes.”The next month, in California, Republicans submitted 54 percent more than the required signatures to put on the November ballot a measure that would repeal the 2017 state law increasing gasoline and diesel taxes. Meanwhile, roads in Los Angeles are in such bad shape that it costs the average driver $892 a year in additional vehicle...
  • The market is doing something most investors have never seen in their lifetime — (edit for length)

    05/21/2018 4:25:37 AM PDT · by cba123 · 17 replies
    MSN Money ^ | 6 hours ago | Joe Ciolli
    Full title: The market is doing something most investors have never seen in their lifetime — and could be foreshadowing the next crash -- Since 1981, Treasury yields have pretty much gone in just one direction: down. The result has been one of the most awe-inspiring bull markets in the modern era — one spanning more than three decades. But the party may be over for Treasury bulls, who profit from lower yields because of the inverse relationship they have with bond prices. This can be seen in the 10-year Treasury yield, which bounced off a record low in 2016...