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Financial Services

Muni Holdings Beef Up

March 11, 2010 - State and local governments amassed their biggest-ever debt burden during the fourth quarter, meeting demand from retail buyers and a broadened investor base driven by federal stimulus programs.

Wall and Main Streets Talk Past Each Other

March 11, 2010 - Two groups gathered in the San Francisco Bay Area this week to discuss municipal bonds, public budgets and interest rate swaps.

Banking on a Growing Deficit

March 11, 2010 - New broker-dealer Pierpont brings together a trio that has worked on and off together for the better part of three decades.

Yields Decline a Bit as Firmness Creeps In

March 11, 2010 - Most of The Bond Buyer’s weekly yield indexes declined slightly, as some firmness continued to permeate a mostly unchanged municipal market.

Transit Advocates Address Panel

March 11, 2010 - A high-level Department of Transportation official told lawmakers that the Obama administration will support “ambitious local initiatives” for large-scale projects, such as a 12-line transit project in Los Angeles.

Funds Seek Alpha in Main Street Banking

March 11, 2010 - FDIC-assisted deals, attractive valuations, improving economy provide a potential windfall for holders of equity.

Capital Gem May Lie in Crisis Rubble

March 11, 2010 - Tarp warrants could spawn a new source of funding for banks. But it may be years before this becomes a regular font of capital.

High Yield: The New Wellspring

March 11, 2010 - Junk-rated companies are finding it easier and cheaper to raise money in the bond market and rely less on bank loans.

California Ready for Its Return to GOs

March 4, 2010 - After a legislative kerfuffle that caused a one-week delay, California is on track to return to the bond market with a $2 billion general obligation bond deal.

Declining Investment Earnings Add to the Pain

March 4, 2010 - State and local governments are getting very little help from earnings on their investments at the precise time they need it most.

House Bill Offers Bond Boost

March 4, 2010 - The House approved a revised jobs bill that would allow issuers selling four types of tax-credit bonds to receive a direct Build America Bond-style subsidy payment from the federal government at a far higher rate than was proposed in the Senate version of the bill.

D.C. Sets $696M Refunding to Stay Under Its Debt Cap

March 4, 2010 - The District of Columbia on Tuesday expects to issue $711.2 million of income-tax secured revenue bonds, including $696 million of refunding bonds that will reduce outstanding debt to keep the city under its 12% debt-to-expenditures cap.

Yields Drop as Market Continues to Stay Firm

March 4, 2010 - The Bond Buyer’s weekly yield indexes declined this week, as the tax-exempt market firmed slightly in each of the week’s sessions.

Scoping the Tech Horizon

March 4, 2010 - For all the bullishness over tech M&A, no one seems ready to proclaim the market fully open, nor does anyone predict another banner year like 2007, when $193 billion of tech transactions were completed.

Junking Your Way Out of Chapter 11

March 4, 2010 - More bankrupt companies are considering junk bonds to finance their exits, but while high-yield issues provide more flexibility and other advantages for debt-laden issuers, they are not a panacea and aren’t applicable to all businesses, market participants say.