The nation’s local governments are expected to sell $20.2 billion of debt over the next month, the most since early December, according to a Bloomberg index that tracks municipal bond sales announced for the next 30 days. The gauge doesn’t represent the full tally of what actually hits the market, as many deals come with less than a month’s notice.
Eager to show their commitment to mitigate climate change, U.S. colleges are touting their efforts in the bond market with a trendy financing tool.
To the investors who are pouring into environmentally friendly debt funds, the $100 million “green bond” sale for a paper mill in Michigan this month probably seemed like a good fit.
The influx of federal aid to U.S. municipal-bond issuers has papered over longstanding credit risks that threaten to come back to bite investors when the relief runs dry.
The star fund manager is famous for the power he wields in the market — and for making bets that other investors shy away from.
The rally gained force after the White House and the Senate reached an agreement on a massive package of spending and tax breaks in a bid to prevent the swift shutdown of much of America’s economy from leading to a deep, prolonged recession.