The Municipal Securities Rule-making Board has released draft rules today aimed at tightening the standards that govern the conduct of firms that give advice to public officials regarding their municipal bonds.
While US and foreign banks do away with risky investments like municipal bonds, hedge funds had taken advantage with the loss of a competitor and increased their positions in such assets, a Barron's report said.
General Electric Co agreed on a USD 18.25 million settlement of a class action lawsuit that accused the company of rigging bids for municipal bonds, according to a Reuters report.
According to a recent Lipper report, there have been fifteen weeks of outflows recorded for 2013.
According to a new accounting rule, pensions were in bad shape.
The Yankees and the Mets, both New York MLB teams are climbing in value in the bond market.