It’s tough to negotiate a budget in public with a glitchy CMS
Why only help when bankers are in trouble?
Domestic buyers attracted by offshore bonds’ high yields and belief in implicit guarantee by Beijing
Central government support for local financing vehicles helped lift debt sales in August to near-record levels
But they aren’t going to tank it either
He Figured Out This One Simple Trick… . . HMRC HATES him!
Debt sold by state and local governments has avoided worst of fixed-income sell-off
Bleeding stops in US municipal bond market as investors seek slowdown protection
Market competes with corporate debt and Treasuries after brutal sell-off this year
Default rate on muni bonds may rise as cash-strapped cities struggle with extreme weather events
A revival of the Obama-era Build America bonds would raise funds with less taxes
Borrowing costs have never been lower as $4tn asset class booms
President-elect’s proposed package of $1.9tn in aid bolsters appeal of even financially stressed localities
Control of US Senate opens possibility of fresh stimulus to plug budget holes caused by coronavirus
Bonds, stocks and currency draw in buyers in a year when everything unexpectedly came together
Fitch has warned pandemic dealing lasting blow to the largest US metropolis
Lenders form committee to push for better deals than those secured at national level
Republican majority keeps its veto on progressive spending and redistributive taxation
The $4tn market looks peaceful, but the real-world financial situation is alarming
Move to rewrite February’s restructuring deal inflames tensions
First loan from $500bn municipal liquidity facility aimed at easing virus impact
Central bank broadens eligibility for $500bn facility as local governments come under strain
US central bank makes politically-charged decision to lend only to large localities
City of San Francisco complains that coronavirus fears have turned market ‘crazy’
Prices of debt sold by cities and states have sunk as funds have made grabs for cash
