MuniLand Snaps: March 21, 2012

March 21, 2012

NASA reports: “A huge, lingering ridge of high pressure over the eastern half of the United States brought summer-like temperatures to North America in March 2012. The warm weather shattered records across the central and eastern United States and much of Canada.”

Good Links

Stateline: Republican legislatures move to preempt local government

Bond Buyer: Indigestion hits muniland as supply still too much to handle

Reuters: Weak bond insurers thrashed by muni defaults

Bloomberg: After massive debacle in Jefferson County, JPMorgan uses balance sheet to gain top spot in muniland

Stateline: West Virginia is the first state to put funds aside for retiree health costs

Luray Free Page Press: Virginia gets big fat ‘F’ on transparency report

Reuters: Stockton: The town the housing boom broke. Lots of others out there.

Reuters: California cities scramble to avert insolvency

Tribune Media Service: Victor David Hanson on who’s to blame in California?


@Twitter Talk

econgirlecongirl @raluca3000 FT Deutschland: “debt of many municipalities is huge…sovereign debt crisis puts in doubt creditworthiness of all public debtors”  #Germany

Mark Dow Mark Dow  @mark_dow Doesn’t take much in the way of volume to really move these spreads these days

Bond Girl Bond Girl  @munilass 30-yr BBB public hospital bonds 170 over AAA GO. Compare to 448 in April 2009. (Bloomberg) Mergers are credit positive, investment in HY.

David WesselDavid Wessel @davidmwessel Cal State (seeking tax hike) says only 8 of its 23 campuses will take new students next spring.

Daniel BorensteinDaniel Borenstein  @BorensteinDan More pension games. Santa Rosa City Cncl cuts horrible pension deal, as Press Dem editorial explains. #capensions

Eric VeronikisEric Veronikis  @everonikis Harrisburg incinerator operator has right of first refusal on facility sale

Roxbury NewsRoxbury News @roxburynews Harrisburg city council prez Williams reads letter from U.S. Attorney Peter Smith in response to request of investigation.

Barrett and GreeneBarrett and Greene  @GreeneBarrett U.S. states and alcohol taxes

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