The 35% subsidy from the federal government, i.e. taxpayers, to the states is about to end. $185 billion in these bonds was issued in 2010. With the House changing hands next year it is unlikely the program will be resurrected. Watch for a very rough year for muni bonds in 2011.
- China Stocks Lead Asia UpChinese stocks rally for a fifth straight day Monday, leading Asian markets mostly higher, while a stronger dollar helps Japanese shares gain ground. […]
- Australia's Scrapped Iron-Ore Inquiry Fires Up Debate Over OutputAustralia’s decision to reject an inquiry into the iron-ore market has stirred up a bitter debate over the industry’s relentless output expansion, despite sinking prices. […]
- Barrick Gold Sells Cowal MineBarrick Gold said it will sell an Australian gold operation to Evolution Mining for $550 million, one of several planned sales aimed at helping the miner reduce billions of dollars in debt. […]
- China Stocks Lead Asia Up