Municipal Bonds
New York to Sell $351 Million Bonds as Moody's Urges Lasting Deficit Plan New York seeks bank bids today for
$351.3 million of bonds after Moody’s Investors Service said the
state’s credit rating may fall if spending cuts aren’t part of
plans to close a $3.2 billion budget deficit.
Bills Yielding Zero as Stocks Soar Give Investors Bernanke Moment of 1938 For the first time in seven decades,
Treasury bills are paying no interest while stocks continue to
appreciate -- a divergence in U.S. financial markets that might
be perilous if Federal Reserve Chairman Ben S. Bernanke didn’t
know all about 1938.
Paterson Prods N.Y. Lawmakers With Letter Seeking $3.2 Billion Budget Deal New York Governor David Paterson, in
a letter to lawmakers, said education and health-care
expenditures must be cut as part of any plan to close this
fiscal year’s $3.2 billion budget deficit.
State Tax Collections Slid 11% in Third Quarter as Budget Deficits Swelled U.S. states tax collections fell for
the fourth consecutive quarter as job losses and the economic
recession cut revenue from income and sales levies, according to
the Nelson A. Rockefeller Institute of Government.
Texas Pension Fund Plans $200 Million Investment in Private Equity in Asia Teacher Retirement System of Texas,
the seventh-largest U.S. public pension fund, plans to invest
$200 million in private equity in Asia, whose economies are
leading the world out of a recession.
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