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.
- Deluge of Muni Debt on TapU.S. municipalities are rushing to borrow money in the bond markets by year-end, aiming to get cash in hand while interest rates remain low. […]
- Tin Market Rattled by Indonesia BanTin prices rose to a nearly five-week high on the London Metal Exchange, after Indonesia said it would indeed tighten control of its rich natural-resources sector. […]
- U.S. Wind Farms Get Leeway in Bird KillsA newly finalized U.S. rule would grant wind farms and other projects 30-year exemptions from prosecution for accidentally killing federally protected eagles provided they take steps to avoid such kills. […]
- Deluge of Muni Debt on Tap