All posts by Income

Muni bond exemption

Trump on Muni bond exemption.

“He’s the president-elect, and he said he would keep it,” said Tom Cochran, CEO and executive director of the U.S. Conference of Mayors, following a half-hour meeting with Donald Trump in New York.

Employment

The economy created 156,000 new jobs in September, another solid gain in employment that’s likely to prod the Federal Reserve to raise interest rates in the next few months.

Jobs

The Labor Department’s job openings and labor turnover survey showed 5.87 million openings, hires increased to 5.23 million from 5.17 million in June.

Bonds

Ally Financial Inc. Term Notes
Cusip Maturity Coupon Payment Callable Yield* Ratings** Trade Date
02006DKV2 09/15/19 2.750% Monthly 09/15/17 2.766% NR/BB+/BB+ 09/06/16
02006DKW0 09/15/21 3.200% Monthly 09/15/17 3.221% NR/BB+/BB+ 09/06/16

Preferreds

Some new issues for June in the news …

Wells Fargo and Company

Ares Management, L.P.

Pebblebrook Hotel Trust

Mitcham Industries, Inc.

Seaspan Corporation

Validus Holdings, Ltd.

Puerto Rico debt

In the news …

The Supreme Court has struck down a Puerto Rican law that would have allowed the U.S. territory’s public utilities to restructure their debt. The 5-2 ruling leaves management of the island’s fiscal crisis to Congress.

Muni bonds

A sample offering …

RIVERSIDE CNTY CA PUBLIC FIN AUTH OID REF-PROJ AREA #1-DESERT CMNTYS & INTERSTATE 215 CORRIDO TAX ALLOCATION UNDERLYING S&P A

Rating: Aa(S&P)

Insurance: Build America Mutual Interest Rate: 3.00%

Maturity: 10/1/2035
Call Features: 10/1/2025 @ 100
Yield to Call: 3.00%
Yield to Maturity: 3.00%

Price: 100
Form: Book-Entry
Comments: Federally Tax Free
Not Subject to AMT