Municipal Bonds News
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Municipal debt is poised to trail Treasuries for two consecutive months for the first time since September as a growing U.S. economy spurs local governments to increase borrowing.
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New Jersey community colleges padded their presidents’ compensation with perks, including housing allowances, country-club memberships and airfare for spouses to travel to conventions, Comptroller Matthew Boxer said.
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California, the most indebted state, may need to sell more than $10 billion in short-term securities in order to pay bills through the fiscal year that begins in July, Controller John Chiang said.
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Treasury 10-year note yields fell to a record low as investors sought refuge from the deteriorating credit conditions of European sovereign borrowers.