US states, cities await guidelines on spending stimulus mvariety.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mvariety.com Daily Mail and Mail on Sunday newspapers.
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CHICAGO, Jan 15 (Reuters) - A big burst of federal aid for
U.S. states and local governments in Democratic President-elect
Joe Biden s massive fiscal stimulus plan helped higher-yielding
debt from lower-rated issuers in the U.S. municipal bond market
on Friday.
While Municipal Market Data s (MMD) benchmark triple-A yield
scale was unchanged in the wake of the Thursday evening
unveiling of Biden s $1.9 trillion proposal, the
prospect for $350 billion in new federal funding enhanced the
attractiveness of debt from financially troubled issuers,
according to Greg Saulnier, MMD managing analyst. (A stimulus plan from Biden has) pretty much been priced