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Dear Mr. Berko: The state of California is soon going to issue about $5 billion of tax-free municipal bonds. My broker tells me that the long-term bonds will come public with a 5 percent current return and will be rated BAA. I would like to buy $20,000 of these bonds, but my broker believes that the bonds are risky. I would appreciate your opinion.
Dec. 9 (Bloomberg) -- Kuwait’s central bank will issue 100 million dinars ($351 million) of one-year treasury bonds today with a coupon of 1.5 percent.
Dec. 8 (Bloomberg) -- Kenya is reissuing a 10 billion- shilling ($132.9 million), 20-year fixed coupon discounted treasury bond for budgetary support, the country’s central bank said in a statement published in the Daily Nation newspaper today.
NEW YORK----Morgan Stanley Insured Municipal Bond Trust today declared a monthly income dividend of $.0675 per share from tax-free income. RECORD DATE PAYABLE DATE 12/18/09 12/24/09
Dec. 9 (Bloomberg) -- Treasuries were little changed as the U.S. prepared to sell $34 billion of notes and bonds today and tomorrow and Standard & Poor’s cut the credit outlook for Spain to “negative.”
Dec. 9 (Bloomberg) -- Treasuries gained after Standard & Poor’s cut the credit outlook for Spain to “negative,” spurring demand for the safety of government debt before the U.S. sells $34 billion of notes and bonds today and tomorrow.
Dec. 9 (Bloomberg) -- Maryland is taking advantage of lower tax-exempt borrowing costs for top-rated municipal bond issuers to revive refinancing postponed in October, as short-term yields fell to the lowest in at least 18 years.
Dec. 9 (Bloomberg) -- Municipal bond issuance is projected to rise by 7.9 percent in 2010 as state and local government general-purpose funding predominates in the $2.8 trillion market, according to a survey of municipal underwrites and dealers.
Dec. 9 (Bloomberg) -- Treasuries fell after an investor class that includes foreign central banks bought the least amount since June of today’s $21 billion offering of 10-year securities.
Dec. 8 (Bloomberg) -- Treasuries rose for a second day as Fitch Ratings reduced Greece’s credit rating, spurring demand for the relative safety of U.S. government securities.
Dec. 7 (Bloomberg) -- Treasuries were little changed, after completing the worst week in four months, as the U.S. prepared to sell $74 billion in notes and bonds this week.
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