NEW JERSEY
Secaucus (Town)
Jan 3, 2017 . . . . . . $4,073,675
General Obligation Bond Anticpation Note (bank qualified).
Dated Jan 6, 2017.
Due Mar 6, 2017.
Purchased $4,073,680.00 by TD Securities, at 1.5%, plus $3,503.36, effective rate 0.984%.
L.O.: Rogut McCarthy LLC, Cranford, NJ.
F.A.: Municipal Official(s).
Other bidders were:
TD Bank, N.A., Effective Rate 1.49%
Capital One Pub Fund, Effective Rate 1.59%
Jefferies, Effective Rate 1.6%
"The forces of municipal fundamental and technical measures are setting up a reconciliation against higher UST yields," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.
The environmental clearance marks a regulatory milestone, but major funding shortfalls remain.
July will see $35.2 billion of redemptions, down 13% month-over-month but still 35% higher than 2024's monthly average of $27 billion, said Pat Luby, head of municipal strategy at CreditSights.
After the west abutment on the Rapidan Dam partially failed last week, it's up to the Blue Earth County board of commissioners to pursue repair or removal.
The Contra Costa County Office of Education gave West Contra Costa Unified School District until July 17 to pass a budget, or have the county office step in.
"With a nonexistent new-issue calendar and heavy dealer balance sheets, we expect the muni market to get a bit 'grabby' over the next few weeks," AllianceBernstein strategists said.
