MuniLand Snaps: April 25

April 25, 2012

Daniel Berger of Thomson Reuters Municipal Market Data sent over this excellent chart showing how yields for 10-year A-rated hospital bonds have narrowed since last October compared with AAA general obligation bonds. Or said more simply: It’s gotten a lot less expensive to issue new bonds for hospitals. That explains why the Bond Buyer reported this today: “At least eight Midwestern health care providers are set to enter the market over the next two weeks, offering more than $1.3 billion of bonds.” Rates go down and issuers come to market. Reuters has a related story that might help explain hospitals hurrying to get new paper into the market.

Good Links

Bloomberg: Cash-rich corporations end lobbying effort for repatriation tax break

Tax Foundation: State tax collections rising in post-recession recovery

JCT: Present law and background information related to state and local government finance

Bond Buyer: Groups to the Senate Finance Committee: Protect our municipal bonds

Reuters: Chicago approves private investment for infrastructure

Chicago Sun-Times: Council overwhelmingly approves mayor’s city financing plan

Times Tribune: It’s been 20 years since Scranton was designated as financially distressed

Statesman: Austin outsources $520 million in bus service

News Tribune: Washington governor signs $1 billion in public works projects

@Twitter Talk

Barrett and GreeneBarrett and Greene  @GreeneBarrett Average unemployment rate over the last year by U.S. county
Michael CooperMichael Cooper  @coopnytimes The GAO on the fiscal outlook of state and local governments (Spoiler: it’s not good).
ICMAICMA  @LocalManagers New report shows how localities, not the feds, are driving eco-policy
MSSB GICMSSB GIC  @MSSB_GIC US homeprices, lowest since 2003, no recovery in sight. See Chart 2, GIC April report
Ted NesiTed Nesi @tednesi A judge says it’s OK for near-bankrupt Stockton, Calif., to suspend accrued vaca & sick time payouts to cops:
Otis WhiteOtis White  @OtisWhite Seattle rethinks its bus system, cutting back on less busy routes and doubling down on the busy ones.

Chuck DeanChuck Dean  @BhamnewsDean @Birmingham_News Latest on efforts 2 find peace N Middle East, I mean agreement among Jefferson County delegation

Kamakura CorporationKamakura Corporation  @KamakuraCo CDS contracts traded on State of Illinois (weekly total) last week: 23
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