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Feature. GO Bonds. Revenue Bonds. Backed By. Tax revenue. Project-generated revenue. Risk Level. Lower. Higher. Use of Funds. Schools, roads, general projects. Toll ...
By mid-January 2017, the bond debt had reached $70 billion in a territory with a 45% poverty rate and a double-digit unemployment (12.4% in December 2016), more than twice the mainland US average. [70] The debt had been increasing during a decade-long recession. [71] The Commonwealth defaulted on many debts, including bonds, since 2015. [72]
How Muni Bonds Work Municipal bonds look a lot like other kinds of bonds. State and local governments issue muni bonds in order to finance a variety of public projects, ranging from general budget ...
Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation.
As bond insurance shrinks and retail investors start moving to stocks, could municipal bonds start finding fewer takers? After a series of bond downgrades over the last two years, Standard & Poor ...
Yet even as other parts of the bond market have started to show signs of losing ground, the municipal bond market has. Ever since the financial crisis, investors have looked to bonds to protect ...
Yield burning was a method by which major Wall Street U.S. municipal bond dealers cheated the United States government out of millions of dollars of revenue. [1] The scam was initially exposed by whistleblower Michael Lissack in 1994, and eventually the firms involved settled with the government for $205 million.
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