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Keyword: bonds

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  • 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...
  • Federal Reserve Interest-Rate Decision—Live Analysis

    03/21/2018 11:31:15 AM PDT · by Sopater · 15 replies
    Join us for all the news and analysis of the Federal Reserve’s interest-rate decision and economic projections Wednesday, along with Jerome Powell’s first press conference as chairman.
  • Will: Infrastructure spending won’t transform America

    03/16/2018 1:02:00 PM PDT · by Tolerance Sucks Rocks · 52 replies
    The San Jose Mercury News ^ | February 16, 2018 | George F. Will
    “MASON CITY: To get there you follow Highway 58, going northeast out of the city, and it is a good highway and new.” — Robert Penn Warren, “All the King’s Men” (1946) WASHINGTON — Appropriately, Warren began the best book about American populism, his novel based on Huey Long’s Louisiana career, with a rolling sentence about a road. Time was, infrastructure — roads, especially — was a preoccupation of populists, who were mostly rural and needed roads to get products to market, and for travel to neighbors and towns, which assuaged loneliness. Today, there is no comparably sympathetic constituency clamoring...
  • Think Tank Requests SEC Investigation of California Governments Worried About Climate Change

    02/02/2018 6:39:03 AM PST · by MarvinStinson · 12 replies
    freebeacon ^ | February 2, 2018 | Todd Shepherd
    A free-market think tank is asking the Securities and Exchange Commission for an investigation into possible bond fraud by local and municipal governments that claim they will be harmed by climate change. The Competitive Enterprise Institute (CEI) says a number of municipalities, most of them in California, are suing oil and gas companies for future damages because of climate change, and in doing so are often explicit in their forecasts of predicted sea-level rise and monetary damages. However, when those same cities sell bonds to investors, they're being far more generic in their claims of future catastrophe. "In their suits...
  • Dow sheds 400 pts as bond yields rise on strong jobs data

    02/02/2018 11:36:21 AM PST · by BenLurkin · 42 replies
    Rueters ^ | February 2, 2018 | Tanya Agrawal
    The Dow Jones Industrial Average dropped more than 400 points, with 10 of the 11 major S&P sectors in the red, led by the energy index’s 3.49 percent fall. Nonfarm payrolls rose by 200,000 jobs in January, the Labor Department said, beating expectation of 180,000. Average hourly earnings rose and boosted the year-on-year increase to 2.9 percent, the largest rise since June 2009. After the data, benchmark 10-year Treasury yields extended their rise to more than 2.8 percent, while traders boosted bets that the U.S. Federal Reserve will raise interest rates three times this year. Fast-rising wages could prompt more...
  • DOW Takes a Dive while Feds Probe Apple Over Intentionally Slowing Down Older iPhones

    01/30/2018 1:10:56 PM PST · by davikkm · 23 replies
    iWB ^ | Chris Black
    Dow took a dive on Tuesday, plunging 400 points, thus marking its biggest point drop since 2016, when it fell 610 points in June. Due to investors’ fears of higher than expected inflation, the 10 year Treasury yield traded near levels not since since 2014. On Tuesday, the S&P 500 fell 1.2%, the Dow Industrial Average pulled back 400 points, while the NASDAQ composite lost 1.1%. This is the second day in a row US stocks traded significantly lower than expected, marking the first big selloff of 2018. On Monday, the DOW lost 177 points due to the rise in...
  • Officials consider bond for quicker I-87

    10/28/2017 5:09:15 PM PDT · by Tolerance Sucks Rocks · 13 replies
    The Elizabeth City Daily Advance ^ | October 1, 2017 | Jon Hawley
    North Carolinians agreed to borrow $2 billion last year to support higher education and infrastructure. Should they borrow a similar amount to more quickly build Interstate 87 and other important roads? Some local officials say yes. For more than a year, Interstate 87 has been a burning issue for elected officials in Pasquotank and surrounding counties. Creating that road from Raleigh to the Virginia state line would cost more than $1.3 billion, based on early estimates, and it could take decades to develop. Just widening U.S. Highway 17 to interstate standards from northern Pasquotank through Camden may cost almost $187...
  • 5 Ways Republicans Could Ruin Tax Reform

    10/19/2017 3:58:39 PM PDT · by Tolerance Sucks Rocks · 10 replies
    The Daily Signal ^ | October 17, 2017 | Rachel Greszler
    Policymakers want to unleash economic growth in America by fixing our broken tax system. Or so they say. Now that the conversation has moved beyond just lowering tax rates, pro-growth tax reform is in danger of losing the stuff that actually makes it pro-growth. That’s because policymakers are caving to big-government advocates and other special interests. Here are the top five worst ideas that would surely dampen pro-growth tax reform. 1. Failing to enact full expensing. Full expensing—allowing businesses to deduct the full cost of their investments when they incur those costs, instead of spreading them out over many years—is...
  • Rascovar: Hogan, king of the road(s)

    10/15/2017 5:16:36 PM PDT · by Tolerance Sucks Rocks · 18 replies
    The Maryland Reporter ^ | September 24, 2017 | Barry Rascovar
    Gov. Larry Hogan never met a highway project he didn’t like. He’s a 1950s type of politician – solve all the state’s transportation gridlock and congestion by paving the countryside with lanes of new concrete.He’s got a $9 billion plan that is a lollapalooza: Let construction giants build and pay for toll lanes on the Capital Beltway and the busy I-270 corridor from the beltway to Frederick – 70 miles of exclusive Lexus lanes – and let those companies reap the toll rewards so they can recoup a staggering $7.6 billion investment (the actual cost is likely to be substantially...
  • Unlocking billions of dollars of infrastructure funding capacity

    09/28/2017 5:32:33 AM PDT · by Tolerance Sucks Rocks · 16 replies
    The Washington Times ^ | September 13, 2017 | Charles "Skip" Stitt
    The nation’s approach to managing public infrastructure is often inefficient. Best practices, such as life-cycle asset management and preventive maintenance, are rarely a priority. We can, however, unlock billions of dollars of infrastructure funding capacity now trapped in existing assets by improving how we build, operate and finance infrastructure. While experts discuss the size and urgency of our infrastructure needs, the debates focus on how to pay for new infrastructure. The Trump administration has identified public-private partnerships (P3) as a primary strategy. A majority of states and D.C. have statutes allowing P3s. Other countries have also adopted P3s as a...
  • It's official: State takes over I-69 Section 5 project

    08/21/2017 1:10:38 AM PDT · by Tolerance Sucks Rocks · 12 replies
    The Bloomington Herald-Times ^ | August 15, 2017 | Michael Reschke
    The state has officially taken over the Interstate 69 Section 5 project from I-69 Development Partners.The Indiana Finance Authority announced it had reached an agreement with the private developer in June to take over construction, operation and maintenance of the project after several delays in the completion schedule. To officially take control of the project, the Indiana State Budget Committee had to approve the plans. Additionally, all parties had to endorse a settlement agreement and bondholders had to be paid in full.The finance authority announced Monday it had completed the settlement transaction to terminate the contract with I-69 Development Partners...
  • Fannie-Freddie Might Need $100 Billion in New Crisis, FHFA Says

    08/09/2017 3:06:24 PM PDT · by Lorianne · 20 replies
    source content cannot be posted due to copyright issues | 07 August 2017 | Joe Light
    see link in post below
  • Hartford Debt Dropped to Junk Status by Standard & Poor's

    07/12/2017 11:05:48 AM PDT · by Lorianne · 22 replies
    Hartford Courant ^ | 12 July 2017 | Dan Haar
    Hartford has hired a lawyer as city officials begin navigating the complex system of bankruptcy. The city is facing a $65 million shortfall this year and it remains unclear whether it will receive any additional state aid. Standard & Poor's downgraded Hartford debt to junk bond status late Tuesday, less than a week after the financially troubled capital city hired a New York law firm with expertise in restructuring municipal finances. The Wall Street ratings agency downgraded most city of Hartford outstanding debt to BB, a level that's classified as speculative, also known as non-investment-grade, or junk, from BBB-. That...
  • World Offers Cautionary Tale for Trump’s Infrastructure Plan

    06/26/2017 11:14:16 AM PDT · by Tolerance Sucks Rocks · 20 replies
    The New York Times ^ | June 16, 2017 | Peter S. Goodman
    LONDON — The rest of the planet bears a warning for President Trump’s plan to lean heavily on private business in conjuring a trillion dollars’ worth of American infrastructure: Handing profit-making companies responsibility for public works can produce trouble. In India, politically connected firms have captured contracts on the strength of relationships with officialdom, yielding defective engineering at bloated prices. When Britain handed control to private companies to upgrade London’s subway system more than a decade ago, the result was substandard, budget-busting work, prompting the government to step back in. Canada has suffered a string of excessive costs on public...
  • NBC2 Investigators: Tolls won't be used for Cape Coral Bridge project

    06/16/2017 5:17:47 AM PDT · by Tolerance Sucks Rocks · 1 replies
    NBC 2 ^ | May 26, 2017 | Delia D'Ambra
    LEE COUNTY, Fla. - The entire westbound span of the Cape Coral Bridge will be replaced in about 11 years. That overhaul will be an expensive project costing $88 million. At the rate you're paying the $2 toll right now, the money could be saved and ready to pay for it in half that time. However, that’s not happening, and NBC2 investigated to find out why. More than 20,000 vehicles pass over the Cape Coral Bridge in a single day. Drivers headed to the Cape from Fort Myers have to pay $2 before jumping on the westbound span. "Living on...
  • VERIFY: Are Houston toll road fees ever going away?

    06/12/2017 10:59:41 PM PDT · by Tolerance Sucks Rocks · 41 replies
    KHOU ^ | May 19, 2017 | Tim Wetzel
    HOUSTON - The teachers at Spring Forest Middle School asked KHOU 11's Verify team whether Beltway 8 has been paid off and if the tolls will ever go away in the foreseeable future. "Why do we still pay for toll roads?" wondered 7th grade teacher Rebecca Mustachio. "To be honest, I thought we would be done paying for toll roads." We are not even close to paying the bill for those roads, according to Roxana Sibrian of the Harris County Toll Road Authority. In a statement emailed to KHOU, the authority says it will be paying off construction debt until...