The Bond Buyer articles from June 2009

The Bond Buyer archives from June 2009

MUTUAL FUNDS: Mutual Funds Enjoy Continued Inflows.(Investors & Investing)
June 1, 2009... Byline: Dan Seymour Money continues to flow into municipal bond mutual funds at a record-setting rate as investors become more comfortable exiting ironclad, short-term safe havens. Investors entrusted $1.04 billion to muni funds that...

Bayonne, N.J., Refunding $67.6M, Prepares TIF Strategy for Harbor.(The Regions)
June 1, 2009... Byline: Michelle Kaske Bayonne, N.J., this week will refund $67.6 million of short-term notes, converting them into long-term debt as the municipality prepares to file tax-increment financing plans for a mixed-use development overlooking...

Northeast Bond-Watch.(Northeast)
June 1, 2009... Byline: Michelle Kaske, Ted Phillips MASSACHUSETTS MBTA Budget Slashed Officials last week cut the Massachusetts Bay Transportation Authority's fiscal 2010 budget by $160 million to balance the spending plan. The MBTA's...

Chicago Water Reclamation District Has Its Eye on BABs.(The Regions)
June 1, 2009... Byline: Yvette Shields CHICAGO - The triple-A rated Metropolitan Water Reclamation District of Greater Chicago is leaning towards tapping the taxable Build America Bonds program for the new-money sale of up to $600 million it plans for...

Correction.(Market News)(Correction notice)
June 1, 2009... In Thursday's edition of The Bond Buyer, a story about an upcoming $600 million sale of water and wastewater revenue bonds by Atlanta incorrectly stated the method of sale. The deal is due to be sold by negotiation during the week of June 8.

DEAL IN FOCUS: Maine Readies Its Annual GO Sale; Gap-Closing Budget Set for 2010.(Northeast)
June 1, 2009... Byline: Ted Phillips Maine goes to market today with its annual general obligation debt offering as the ink dries on a conservative 2010-2011 budget that closed a $440 million gap. The budget, which was signed by Gov. John Baldacci...

HEALTH CARE: A Minimum-Standards Bill Could Hurt Ratings, Attorney Warns.(Washington)
June 1, 2009... Byline: Peter Schroeder Congress should be careful when considering whether to legislatively require nonprofit hospitals to meet national minimum standards to remain tax-exempt, because the legislation could impose unfair burdens and costs...

'Ambiguous' Fiscal Prospects Earn Calif. County Downgrades From S&P.(The Regions)
June 1, 2009... Byline: Andrew Ward SAN FRANCISCO - Standard & Poor's downgraded Mendocino County, Calif.'s issuer credit rating to BBB-plus from A-minus late last week, citing weak reserves, likely state budget cuts, and a failure to cut spending to...

REGULATION: MSRB Asks SEC for OK to End Old Material-Event Disclosure System.(Washington)
June 1, 2009... Byline: Lynn Hume The Municipal Securities Rulemaking Board has filed a proposed rule change with the Securities and Exchange Commission that on July 1 would terminate its CDINet system, which accepted and disseminated issuers'...

Municipals Flat as Treasuries Gain.(Market News)
June 1, 2009... Byline: Michael Scarchilli Tax-exempts were mostly unchanged Friday, in light activity, though with a slightly weaker tone. "I'm not seeing a whole lot of movement," a trader in New York said. "There might be a bit of a weaker tone...

May NAPM-NY BCI Surges To 61.3 From 28.3.(News In Brief)
June 1, 2009... Byline: Gary Siegel New York City business activity expanded for the first time since January 2008, according to the National Association of Purchasing Management - New York's Report on Business. The current business conditions index...

Chicago PMI 34.9 in May Compared to 40.1 in April.(News In Brief)
June 1, 2009... Byline: Yong Lim The Chicago Purchasing Managers' Business Barometer fell to 34.9 in May from 40.1 in April, the National Association of Purchasing Management - Chicago said Friday. The production index was unchanged at 38.1, the new...

Milwaukee Index Rises to 43 in May From 39 in April.(News In Brief)
June 1, 2009... Byline: Gary Siegel The seasonally adjusted Milwaukee index rose to 43 in May from 39 in April, indicating the area economy improved in the month, according to the Institute for Supply Management - Milwaukee. New orders rose to 47 from...

U. of Mich. May Index at 68.7 vs. 65.1 in April.(News In Brief)
June 1, 2009... Byline: Yong Lim The University of Michigan's final May consumer sentiment index reading was 68.7, compared to the final April 65.1. The preliminary April 61.9, the final March 57.3, and February's 56.3, according to market sources....

Preliminary 1Q GDP Drops At 5.7% Annual Rate.(News In Brief)
June 1, 2009... Byline: Yong Lim Real gross domestic product - the output of goods and services produced by labor and property located in the United States - decreased at an annual rate of 5.7% in the first quarter of 2009, according to preliminary...

Slashed Return for N.Y. Pension Will Force Contribution Hikes.(The Regions)
June 1, 2009... Byline: Ted Phillips Mirroring the experiences of states around the country, New York's pension fund's rate of return declined 26.3% in the fiscal year that ended March 31. Last week Comptroller Thomas DiNapoli released a preliminary...

STIMULUS PROVISIONS: S&P: Some BAB Direct Payments Pose Credit Worries.(Washington)
June 1, 2009... Byline: Patrick Temple-West Standard & Poor's said in a report Friday that if issuers of direct-pay Build America Bonds pledge or plan to use the federal payments for debt service, then it will evaluate their ability to cover the debt...

Texas Legislature Ends Slo-Mo Session With $182 Billion Budget.(The Regions)
June 1, 2009... Byline: Richard Williamson DALLAS - Moving in slow-motion to today's conclusion of the 2009 session, the Texas Legislature left dozens of bills behind en route to passage of a $182 billion budget for the next two years. With Democrats...

New-Issue Volume Slackened in May; Decline Reflects Auction-Rate Exits in 2008.(News)
June 1, 2009... Byline: Jack Herman New-issuance volume last month came in at a pace lower than in any May since 2000. A total of 838 new issues came to market in May, with a par value of $27.02 billion. Volume was down 38.2% from the $43.75 billion...

THE WEEK AHEAD: Specialty States Offering Ample Opportunities for Investors.(Investors & Investing)(Calendar)
June 1, 2009... Byline: Christine Albano Investors flush with June 1 coupon and maturity payments looking to reinvest these proceeds at the height of spring reinvestment season this week will be met with a wide selection of new issues. Offerings...

TO THE EDITOR: HRF Points Out Differences Between Insurer Plans.(Commentary)
June 1, 2009... Byline: Robert M. Smith HRF Associates' comprehensive plan (Monitor Assurance Corp.) to address the liquidity and credit needs of the municipal market has drawn comparisons to a plan offered by the National League of Cities. HRF detailed...

Southwest Bond-Watch.(Southwest)
June 2, 2009... Byline: Jim Watts ARIZONA Brewer Seeks School Cash Gov. Jan Brewer has officially applied to the U.S. Department of Education for the first portion of Arizona's $1.02 billion allocation of federal stimulus education funds. ...

Corrections.(News)(Correction notice)
June 2, 2009... The Bond Buyer Monday incorrectly reported the sale date and a rating for this week's $450 million offering from the New Jersey Higher Education Student Assistance Authority. The deal is expected to be priced on Thursday by Merrill Lynch & Co.,...

Mandatory Levee Inspections Set Back Dallas Toll Road Plans.(The Regions)
June 2, 2009... Byline: Jim Watts DALLAS - The time line for building a toll-financed roadway along the Trinity River corridor in downtown Dallas got a 20-month setback Monday. The city is required to conduct a lengthy and comprehensive engineering...

DEAL IN FOCUS: Denver Offering $120 Million With Expected AAA Rating From S&P.(Southwest)
June 2, 2009... Byline: Richard Williamson DALLAS - Denver will test market response to its new AAA rating from Standard & Poor's with roughly $120 million of general obligation debt, including the first bonds to be issued from a 2007 voter authorization....

Exercising Stimulus Provisions; School Board Plans New Type of COPs.(News)
June 2, 2009... Byline: Shelly Sigo BRADENTON, Fla. - The Broward County, Fla., School Board expects to price about $135 million of certificates of participation Thursday in what may be the first single deal structured to take advantage of two kinds of...

Guam Sales to Settle Pair of Problems.(The Regions)
June 2, 2009... Byline: Rich Saskal SAN FRANCISCO - Guam plans to access the market this week with $485 million of debt in two separate but interdependent bond sales, one of them speculative grade. Both transactions are intended to raise enough funds...

Ill. Budget in Limbo; Tax Hike Rejected.(The Regions)
June 2, 2009... Byline: Yvette Shields CHICAGO - Gov. Pat Quinn met with the Illinois General Assembly's leaders yesterday, taking his first step aimed at breaking a budget impasse that has left the state with a roughly $7 billion hole in the fiscal 2010...

IRS Proposes CDD Bond Settlement; Agency Urges $355M Redemption.(News)
June 2, 2009... Byline: Lynn Hume WASHINGTON - The Internal Revenue Service is urging two community development districts in central Florida to settle tax law violations relating to tax-exempt bonds issued for The Villages retirement community by...

REGULATION: MSRB Kicks Off EMMA's Primary, Pilot Continuing Disclosure Systems.(Washington)
June 2, 2009... Byline: Andrew Ackerman The Municipal Securities Rulemaking Board yesterday took a big step toward becoming the all-electronic central repository for both primary and continuing disclosure documents with the launch of two crucial...

Munis Soften, Especially at Long End.(Market News)
June 2, 2009... Byline: Michael Scarchilli The municipal market was weaker by about three basis points overall yesterday. Traders said tax-exempt yields were up anywhere from two to five basis points, with the bulk of the losses coming on the long end of...

Personal Income Up 0.5%; Core PCE Climbs 0.3%.(News In Brief)
June 2, 2009... Byline: Gary E. Siegel Personal income rose 0.5% in April, personal consumption fell 0.1%, while core personal consumption expenditures rose 0.3% in the month, the Commerce Department reported yesterday. Economists surveyed by Thomson...

Construction Spending Rises 0.8% to $968.7B.(News In Brief)
June 2, 2009... Byline: Gary E. Siegel Spending on construction projects rose 0.8% to a seasonally adjusted annual rate of $968.7 billion in April as private construction increased 1.4%, and public construction slid 0.6%, according to the Commerce...

May ISM Index at 42.8, Up From 40.1 in April.(News In Brief)
June 2, 2009... Byline: Gary E. Siegel The Institute for Supply Management said yesterday its report on business rose to 42.8 in May from 40.1 in April. Economists polled by Thomson Reuters predicted the index would rise to 42.2. "While...

3.367M Jobs Posted On Internet in May: Report.(News In Brief)
June 2, 2009... Byline: Gary E. Siegel About 3,367,000 online job postings appeared on leading Internet job boards in May, a 250,000 increase from April's 3,117,000, the Conference Board reported yesterday. "The May bounce in labor demand is a very...

New York's Paterson Launches Board to Oversee P3 Projects.(The Regions)
June 2, 2009... Byline: Ted Phillips New York Gov. David Paterson yesterday created a board to oversee the development and implementation of public-private partnership demonstration projects. A report released yesterday by the State Asset Maximization...

Oregon Governor Set to Sign Jobs and Transportation Act.(The Regions)
June 2, 2009... Byline: Andrew Ward SAN FRANCISCO - Oregon Gov. Ted Kulongoski plans to sign a transportation infrastructure package that will raise $300 million annually to pay debt service on bonds and to fund local spending on roads, bridges, and...

NEW HIRES: Roosevelt & Cross Brings in Kulakowski as VP in N.Y.(Underwriters & Dealers)
June 2, 2009... Byline: Jack Herman New York-based Roosevelt & Cross Inc. said it has hired Walter Kulakowski as a senior vice president of public finance in its New York office. Kulakowski joined Roosevelt & Cross from financial adviser...

Judge Returns Stimulus Cases to S.C. Supreme Court.(The Regions)
June 2, 2009... Byline: Patrick Temple-West WASHINGTON - A federal judge yesterday ruled that two lawsuits related to South Carolina's use of federal stimulus funds must be heard in the state's Supreme Court, dealing a blow to Gov. Mark Sanford's hopes to...

NEW HIRES: Sterne Agee Adds Staff, Opens Office.(Underwriters & Dealers)
June 2, 2009... Byline: Shelly Sigo BRADENTON, Fla. - Sterne, Agee & Leach Inc. of Birmingham, Ala., said Monday that it has opened a public finance office in the state's capital, Montgomery, and hired four people in New York. The continued expansion...

BOND INSURERS: Another Tender Extension in Syncora-Backed Deal.(Underwriters & Dealers)
June 2, 2009... Byline: Jack Herman The fund offering to buy residential mortgaged-backed securities insured by Syncora Guarantee Inc. said Monday that the deadline to tender securities has been extended again, to 11:59 p.m. tonight. The purchases are...

Texas Session Closes With Transportation Turmoil.(The Regions)
June 2, 2009... Byline: Richard Williamson DALLAS - A local option tax for transportation projects in major urban areas appeared doomed Monday as this year's session of the Texas Legislature came to a close. In their final day, the House and Senate...

Midwest Bond-Watch.(Midwest)
June 3, 2009... Byline: Yvette Shields ILLINOIS S&P Lifts District to AAA Standard & Poor's on Monday upgraded DuPage and Cook Counties Community Consolidated School District No. 181 to AAA to reflect its consistently positive financial...

Schwarzenegger: Act or We'll Go Broke; Democrats Pledge Conditional Cooperation.(The Regions)
June 3, 2009... Byline: Rich Saskal SAN FRANCISCO - California is in a dire fiscal position and lawmakers need to act quickly to fix it, Gov. Arnold Schwarzenegger said yesterday in an address to a joint session of the Legislature. "If we don't act,...

Moody's Downgrades Cook County GOs To Aa3, Affecting $3.1 Billion of Debt.(The Regions)
June 3, 2009... Byline: Yvette Shields CHICAGO - Moody's Investors Service dropped Cook County,Ill.'s general obligation rating to Aa3 from Aa2 due to overall deterioration in the county's credit profile and economic and political pressures on its sales...

Correction.(News)(Correction notice)
June 3, 2009... Yesterday's story about a $135 million of certificates of participation issue from the Broward County, Fla., School Board should have included Morgan Stanley as a member of the underwriting syndicate.

D.C. OKs Budget With $433.5M Of Income-Tax Secured Debt.(The Regions)
June 3, 2009... Byline: Patrick Temple-West WASHINGTON - The District of Columbia Council yesterday passed a $5.4 billion fiscal 2010 budget that includes $433.5 million for tax-exempt borrowing - all of which is expected to be issued as income...

DEAL IN FOCUS: A Changing of the Guard in Omaha As Triple-A City Faces New Challenges.(Midwest)
June 3, 2009... Byline: Yvette Shields CHICAGO - A series of fiscal challenges await triple-A rated Omaha's new mayor and a City Council that take office Monday as revenues falter and pension liabilities pose a long-term strain. The transition in...

Erie County Can Borrow on Its Own; Overseer Goes Into Advisory Status.(The Regions)
June 3, 2009... Byline: Ted Phillips Erie County, N.Y., can borrow on its own for the first time since 2006 after its fiscal monitor yesterday went into advisory status. The Erie County Fiscal Stability Authority went into a control status about a...

SEC Taps George Canellos as Director Of N.Y. Office to Oversee Enforcement.(Washington)
June 3, 2009... Byline: Andrew Ackerman The Securities and Exchange Commission yesterday announced the appointment of George Canellos as director of its New York regional office, where he will oversee enforcement and examination operations. Canellos,...

Indiana's Daniels Call Lawmakers Back to Hash Out Budget.(The Regions)
June 3, 2009... Byline: Yvette Shields CHICAGO - One month after Indianalawmakers adjourned amid a budget impasse, Gov. Mitch Daniels is calling them back to work for a special session beginning Monday on a new two-year state budget that reflects a $1...

PEOPLE: Treasury Nominee's Withdrawal Sparks Concern Among Tax Experts.(Washington)
June 3, 2009... Byline: Lynn Hume Helen Elizabeth Garrett withdrew as President Obama's nominee for the post of Treasury assistant secretary for tax policy over the weekend, leaving tax experts to complain that the delay in filling the slot will hamper...

Jindal Wants More Details About Bond Plan for New LSU Hospital.(The Regions)
June 3, 2009... Byline: Jim Watts DALLAS - Louisiana Gov. Bobby Jindal said a more detailed business plan is needed for a proposed state hospital complex inNew Orleans that would replace storm-damaged Charity Hospital. Jindal said he supports the...

N.Y. Comptroller Warns MTA Over Heavy Debt Reliance.(The Regions)
June 3, 2009... Byline: Ted Phillips New York's Metropolitan Transportation Authority's heavy reliance on debt to finance its capital program will put increased pressure on its operating budget, state Comptroller Thomas DiNapoli said in a report...

Munis Weaker as Larger Deals Price.(Market News)
June 3, 2009... Byline: Michael Scarchilli The municipal market finished another session weaker yesterday as many of the week's largest scheduled deals were priced in the new-issue market, including its largest slated taxable Build America Bonds...

NAR Pending Home Sales Index Up to 90.3 in April.(News In Brief)
June 3, 2009... Byline: Gary E. Siegel Pending home sales increased 6.7% to a reading of 90.3 in April from 84.6 in March, its third straight increase, according to an index released yesterday by the National Association of Realtors. Thomson Reuters'...

Fed's 28-Day TAFs Go At 0.250% Stop-Out Rate.(News In Brief)
June 3, 2009... Byline: Gary E. Siegel The Federal Reserve yesterday announced the results of its term auction facility, selling $95.588 billion of 28-day credits at a 0.250% stop-out rate, the lowest rate at which the offering amount clears, which is the...

Treasury Sells $26B of 1-Years, $35B of 4-Weeks.(News In Brief)
June 3, 2009... Byline: Gary E. Siegel The Treasury Department yesterday auctioned $26 billion of one-year bills at a 0.445% high yield, a price of 99.550056. The coupon equivalent was 0.453%. The bid-to-cover ratio was 3.60. Tenders at the high rate...

Pennsylvania Mulls Loss of Toll Revenues.(The Regions)
June 3, 2009... Byline: Michelle Kaske Pennsylvania officials are debating whether to resubmit to federal officials an application to implement tolls on Interstate 80 or look to alternative revenue enhancers as the Pennsylvania Turnpike Commission...

REGULATION: SEC Plans to Repropose Pay-to-Play Rules.(Washington)
June 3, 2009... Byline: Andrew Ackerman WASHINGTON - The Securities and Exchange Commission plans to repropose rule changes next month that would impose pay-to-play restrictions on investment advisers for states and localities, modelled partly on limits...

STATE & LOCAL FINANCE: Transportation Funds Could Start by Fall.(Washington)
June 3, 2009... Byline: Audrey Dutton WASHINGTON - State and local issuers could be awarded as much as $1.5 billion in discretionary grants, loans, and other credit assistance as early as this fall, under the new stimulus law. Transportation...

Florida DOT Reaches Agreement on Business Terms for Port of Miami P3.(The Regions)
June 3, 2009... Byline: Shelly Sigo BRADENTON, Fla. - The Florida Department of Transportation yesterday said it had reached agreement on the business terms of a concession contract with the consortium Miami Access Tunnel to design, build, finance,...

TxDOT, $2 Billion Issue in Limbo as Legislature Ends Its Regular Session.(The Regions)
June 3, 2009... Byline: Richard Williamson DALLAS - The state Legislature's failure to approve $2 billion of bonds for the Texas Department of Transportation and uncertainty over the agency's future could force Gov. Rick Perry to call a special session,...

Texas' Cedar Hill School District Hits Market After 2-Notch S&P Upgrade.(The Regions)
June 3, 2009... Byline: Jason Philyaw DALLAS - The Cedar Hill Independent School District in Texas sold $5.2 million of unlimited-tax refunding bonds yesterday after receiving a two-notch upgrade to AA-minus from A by Standard & Poor's. Officials...

MUNICIPAL FUNDS: Four Members of UBS Muni Team Lured Back After Quitting.(Underwriters & Dealers)
June 3, 2009... Byline: Dan Seymour UBS Global Asset Management coaxed four members of its municipal bond team back to the company after they resigned last week. In a statement, UBS said it entered into negotiations with four people in the muni team...

Moody's: Facility Woes Pressure VRDOs.(Underwriters & Dealers)
June 3, 2009... Byline: Jack Herman With a shortage of available credit and liquidity facilities shutting municipal issuers out of the short-term markets despite record-low rates, issuers with "moderate to low levels" of liquidity could see their credit...

SEC, New York's Cuomo Finalize ARS Settlements With More Firms.(The Regions)
June 4, 2009... Byline: Ted Phillips The Securities and Exchange Commission and New YorkAttorney General Andrew Cuomo yesterday announced they had finalized settlements with several investment banks over allegations the firms had misrepresented the risks...

Arizona Cities Back Governor's Plan to Close $4B State Shortfall.(The Regions)
June 4, 2009... Byline: Richard Williamson DALLAS - Arizona Gov. Jan Brewer is winning local support for her combination of spending cuts and a temporary tax increase to cover a $4 billion state budget gap for the fiscal year starting July 1. In a...

Municipal Bond Activities.(News)
June 4, 2009... June 4 Standard & Poor's will host a seminar on Higher Education Credit Trends at noon at its Manhattan headquarters. This session will cover S&P's view and outlook for the sector, endowment returns, liquidity positions and enrollment...

Southeast Bond-Watch.(Southeast)
June 4, 2009... Byline: Shelly Sigo, Jim Watts, Patrick Temple-West ALABAMA Bond Review Disclosure The state Legislature earlier this spring passed a bill strengthening bond issuance disclosure requirements for Alabama counties as a result of the...

U.S. DOJ to Get Documents Linked to ARS Deal, CDR.(News)
June 4, 2009... Byline: Michelle Kaske The Allegheny County, Pa., Airport Authority plans by Tuesday to provide the U.S. Department of Justice with documents related to a $114.5 million auction-rate securities transaction done in 2002, including all...

Chicago's Self-Imposed Speed Bump; Mandatory Review For Future Leases.(The Regions)
June 4, 2009... Byline: Yvette Shields CHICAGO - The Chicago City Council yesterday approved an ordinance imposing a 15-day review period before voting on future asset-lease transactions in reaction to widespread criticism over the management of the...

PUBLIC-PRIVATE PARTNERSHIPS: Dean, Goldsmith to Form Working Group to Provide Guidance on P3s.(Washington)
June 4, 2009... Byline: Audrey Dutton Former Vermont Gov. Howard Dean and former Indianapolis Mayor Stephen Goldsmith yesterday announced the launch of a working group that will push for the creation of a new federal "center of excellence" that municipal...

D.C. Agency's Proposed Hotel Deal Could Bump Debt Ceiling.(The Regions)
June 4, 2009... Byline: Patrick Temple-West WASHINGTON - The Washington Convention Center Authority wants to issue $750 million of bonds for a new hotel but that has raised concerns the District of Columbia could exceed its legal debt limit. The...

DEAL IN FOCUS: Fla. Utility Unwinds Gas Deal; For UBS, Was First Foray Into Prepay.(Southeast)
June 4, 2009... Byline: Shelly Sigo BRADENTON, Fla. - The Florida Gas Utility on Monday unwound a prepaid gas deal by redeeming $691.7 million of variable-rate bonds underwritten by UBS Investment Bank. And it did so at the behest of the bank, which also...

IRS: Florida CDD Not Ready to Settle With IRS Florida District: Settlement With IRS Is Premature.(Washington)
June 4, 2009... Byline: Lynn Hume WASHINGTON -The Village Center Community Developer District in Florida is not considering an Internal Revenue Service proposal to settle alleged tax-law violations over $64.26 million of 2003 recreational revenue bonds...

HOUSING: S&P High on Military Housing Sector.(Washington)
June 4, 2009... Byline: Andrew Ackerman WASHINGTON - The military housing sector remained strong last year despite the financial market collapse, economic recession and worsening housing crisis, Standard & Poor's said in a research report released late...

Munis Unchanged With Slightly Weaker Tone.(Market News)
June 4, 2009... Byline: Michael Scarchilli The municipal market was quiet and largely unchanged yesterday, though with a slightly weaker tone, as the New York Transitional Finance Authority priced a $600 million deal and Los Angeles County postponed its...

Economy Bottoming Out, Upturn This Year: Bernanke.(News In Brief)
June 4, 2009... Byline: Gary E. Siegel Overall economic activity is expected to bottom out and then turn up later this year, according to Federal Reserve Board chairman Ben Bernanke. "Our assessments that consumer spending and housing demand will...

Factory Orders Up 0.7%; Ex-Transport Rises 0.5%.(News In Brief)
June 4, 2009... Byline: Gary E. Siegel New factory orders for manufactured goods climbed 0.7% in April, the Commerce Department said yesterday. The factory order increase, to $344.440 billion, was smaller than the 0.9% increase projected by Thomson...

ISM Non-Manufacturing Index Up to 44.0 in May.(News In Brief)
June 4, 2009... Byline: Gary E. Siegel The Institute for Supply Management's non-manufacturing business activity composite index was 44.0 in May, up from 43.7 in April on a seasonally adjusted basis, the group said yesterday. Economists polled by...

Miller Tabak's Crescenzi Moving to Pimco as a Senior Vice President.(News)
June 4, 2009... Byline: Jack Herman Pacific Investment Management Co. has hired Anthony J. Crescenzi from Miller Tabak as a senior vice president, market strategist, and portfolio manager, the firm announced earlier this week. Crescenzi will join...

RBDA Group to Ensure Reform Considers Mid-Market, Regional Firms.(News)
June 4, 2009... Byline: Lynn Hume The Regional Bond Dealers Association announced yesterday that it is forming a Coalition on Financial Markets Regulatory Reform that will try to ensure any changes to the financial regulatory system take into account the...

Syncora Guarantee Extends Deadline For Tenders Again, to Last Night.(News)
June 4, 2009... Byline: Jack Herman The deadline to tender residential mortgage-backed securities insured by Syncora Guarantee Inc. was once again extended, to 11:59 p.m. last night. The tender offer is part of Syncora's plans to reduce its $2.4...