Salient to Investors: Cities, counties and hospital districts in Texas raised 10 percent of their issuance using certificates of obligation which don’t need to go before voters, unlike GO bonds. The issuance faces tighter restrictions under bills in Texas, North Carolina and New York that would make it tougher to borrow without
READ MORE... →Salient to Investors: The dwindling role of bond insurance and yields at four-decade lows is fueling demand for muni analysts. Paul Sorbera at Alliance Consulting said the demand has significantly raised salaries. Jeff Burger at Standish Mellon Asset Mgmt said basis points matter in a low-yield environment. Investors have become more confident buying uninsured or lower-rated debt.
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