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What New Deals Are Pending in the Market?

In future weeks we will be featuring an expanded list of new-issue sales pending in California's municipal bond market now that sales are picking up in 2009. See a preview here.

Samples of Older Headlines Featured Below

Mar. 2009 update: Older stories have been removed below, but we left a sample of the headlines to provide a sense of the type of topics that we cover each and every month.

Moody's Lowers Assured Guaranty to Aa2: Incredible!

S&P Follows Up on California Downgrade Threat

Ambac Pays to Reduce Exposure; S&P Downgrades

Bond Insurer Assured Guaranty to Buy Its Rival, FSA

California Deficit Soars; Governor Seeks Tax Hike

Huge Deficit Means Big Yield Penalty on Calif. Bonds

Moody's Cuts Bond Insurer Ambac to Baa1 from Aa3

Triple-A Assured Guaranty to Reinsure "CIFG" Munis

Bond Advisor's Muni Bond Fund Index Surges Higher

Not a Surprise: California Pays the Piper to Sell Notes

FSA Faces Rating Warnings from Fitch and S&P

"New" California Budget Is Out-of-Balance and a Joke

Moody's Delays Plan for Upgrade of Municipal Bonds

Fitch Delays Potential Widespread Upgrade of Munis

Gov. Schwarzenegger Begs Feds on Stalled RAN Deal

California Budget: Another Mediocre Deal Emerges

Municipal Bonds Haven't Lost Intrinsic Strength

New Bond Issues Postponed Amid Market Turmoil

Some COPIA Bonds Trade Higher After ACA Deal

Aromas-San Juan School Bonds Downgraded by Fitch

What Does a Highly-Rated Muni Bond Yield Today?

Media Ignore Key Boost for ACA, Other Bond Insurers

CIFG Moves Closer to Fix for Troubled Exposure

ACA Completes Reorganization of Balance Sheet

Will the Most-Troubled Bond Insurers Make Payment?

ACA Settlement Could Provide Boost to Muni Bonds

Fitch Proposes Plan to Upgrade Municipal Bonds

SEC Wants Improved Disclosure for Tax-exempt Debt

Three Vallejo COP Deals Get Full-Price Tender

California Sells $1.5 Billion General Obligation Bonds

Vallejo Budget Proposal Seeks to Avoid Default

California Home Ownership Authority Settles Audit

Bulletin: High Court Backs Existing Muni Bond System

Vallejo City Council Votes to Pursue Bankruptcy Filing

A Bankruptcy Filing in Palmdale Over Housing Market

A Nifty Way to Pick up a Full Percentage Point of Yield

Elk Grove CFD No. 2005-1 Reports a "Draw" on Funds

A Sign of Looming Mello-Roos Bond Defaults?

Credit Rating Wars and Municipal Bond Investors

Walt Disney Municipal Bonds? Yes, for a Museum

California Power Bonds a Sign of Fixed-Rate Windfall

California Yields Entice on $1.75 Bln Bond Sale

Indian Wells Valley Water District AD No. 91-1 Cured

Press Gives Issuers a "Free Pass" on Auction Bonds

Buy Now or Wait In Case Yields Go Even Higher?

Vallejo: 45-Page Disclosure Notice Mentions Debt

MBIA Plans to Split Muni Business "Within" 5 Years

Insurers Explore Split in Two to Segregate Munis

Rosamond Distribution Planned on A.D. 1990-2

Coastal Commission Opposes Toll Road Extension

Gilroy Approves Purchase of Bond-Financed Park

Bond Insurers Face More Skepticism Amid Turmoil

Selma Public Financing Authority Makes Distribution

Warren Buffett Pursues New Bond Insurance Firm

ACA Downgrade Leads to Dizzying Array of Changes

Valley Health System Files Ch. 9 Bankruptcy Case

IRS Says Another School District Bond Is Taxable

California Delays Deadline for Hospital Quake Fixes

Why Does S&P Keep "Positive" Outlook on California?

Nevada County CFD 1990-1 Workout Delayed Again

We Were Right: Proof to "Punish" California Bonds

Lancaster A.D. 93-3 Bonds Are Brought Current

Cox Asks Congress to Fix Muni Bond Disclosure

Muni Bond Investors Get "Second-Class" Treatment

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How Much Yield Is Enough for State?

California will have to resume selling general obligation bond deals thanks to a backlog of voter-approved debt. The state also will argue for continued public spending during a time when the economy is slowing. The Bond Advisor's recent issues discuss the topic as investors ponder a strategy to pursue higher "relative" yields. Subscribe now.

Some Muni Bonds Can Get Real Ugly

Most municipal bonds pay on time and in full. Recently, however, the Bond Advisor discussed scores of bond deals that trade at steep discounts to par, some only pennies on the dollar. Subscribers keep on top of trends for troubled muni bonds, and learn how to avoid ugly deals in the first place.

Why Hasn't This Site Been Updated Lately? It Will Be in Early July With New Look, Details

(June 17) -- As we explained in our May print edition, we elected to wait for our Web guru to recover from surgery before we resumed updating this site. We also decided, since a revamp and new appearance was in the works, to start updating again once the revised site is ready to go around July 6. We have left all the "old" tidbits on the site for now, and our print edition continues to cover the key muni bond news in California.

Week in Review: Municipal Bond Yields Drop As Ratios Relative to Treasuries Improve

(Apr. 24) -- A wave of municipal bond coverage, spurred by taxable Build America Bonds, is masking one reason tax-exempt yields continue to drop. Muni yields relative to Treasuries were at unsustainable levels and the ratios continue to move toward more "normal" levels. Issuer success in California, New York, New Jersey at selling taxable bonds also is helping cut a "supply backlog" from the muni market. Review the week here.

San Diego Community College District Bond Dominates "High-Quality" Calendar Next Week

(Apr. 24) -- A San Diego Community College District general obligation bond offering is probably the most enticing "high quality" issue looming among new sales next week. It is rated AA+ by Standard & Poor's and Aa2 by Moody's Investors Service. Several tax-exempt sales priced in recent days but the Upcoming Sales list continues to add new deals each week.

California Ends Up Paying 7.43% on 30-year Taxable "Build America Bond;" +365 to T30 Bond

(Apr. 23) -- California's $6.85 billion taxable bond sale ended up including $5.23 billion of "Build America Bonds" that give the state a 35% federal rebate on interest costs. Thanks to the fed rebate the state should save more than $1 billion over what it would pay on a tax-exempt borrowing, state treasurer Bill Lockyer said. The longest 30-year maturity in the taxable sale yielded 7.43%, or 365 basis points over a 30-year Treasury.

S&P Puts Gilroy School District Bonds, COPs,         on CreditWatch Over Accounting Screw-up

(Apr. 20) -- We previously discussed an accounting mistake by the Gilroy Unified School District, which failed to bill property taxes backing an older bond issue. Although a loan should cover bond payments until the tax is collected, S&P late Friday warned it might downgrade the school's bonds and COPs because of "administrative control issues." Despite the error, bondholders will get paid on time and in full, in our opinion. 

Here Is How the SEC Can Fix One Disclosure Flaw for Muni Bonds

So the former chairman of the Securities and Exchange Commission wanted to improve municipal bond market disclosure? Two years ago we told regulators there is a huge flaw hurting individual investors, and you can read about it here.