Top holdings include a water and sewer revenue bond issued by Miami-Dade County, Florida, an Atlanta, Georgia Water and Waste Revenue Bond, and a New Jersey Health Care Authority Revenue bond.
Morgan Stanley posted weaker first-quarter results as revenue from bond trading slid, but the investment bank exceeded Wall Street expectations.
One of the consultants who prepared the parking revenue forecasts for the bond issue is being sued by purchasers of another municipal bond issue for inflating potential stadium revenues in a deal that was initially highly rated but now has fallen to junk status.
You have to know what revenue stream is tied to the bond and what safeguards exist for investors.
He said the port could be sold off through a bond scheme, which would still raise vital revenue for the government.
Ending the municipal bond tax loophole offers a unique opportunity: raising revenue while deterring cronyism and wasteful spending.
FORBES: A Trillion Dollar Tax Increase That Republicans And Obama Should Agree To
For example, is it a general obligation bond or is it tied to a specific tax or revenue stream?
But now they need new income streams following the decline in share sales, which together with bond sales and loan-advisory business account for the revenue banks make from the capital markets.
In the second scenario, however, we modeled a revenue-neutral plan that eliminated the taxes-paid deduction and municipal bond exemption while lowering income tax rates across the board.
FORBES: For the Sake of Tax Reform, The Muni Bond Exemption (and State Tax Deduction) Must Go
Bond and currency trading paced the overall 18% decline in company-wide revenue.
But revenue from debt sales could come under pressure as more banks share in the fees or if bond sales slow down.
Blankfein's bond-currency-commodity operation soon was providing more than half of Goldman's booming trading revenue.
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