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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
|
3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
|
3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
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848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
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1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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State tax revenue up, fear of muni defaults down
Lion's share of states see gains in overall collections; Harrisburg, Pa. default called ‘an anomaly' |
Investment News - Sept. 3, 2010 - by Jessica Toonke
State tax revenue overall improved during the first half of the year, a sign that the recent default on a bond payment by Harrisburg, Pa., may not be a harbinger of things to come.
Overall state tax revenue grew by 2.2% in the second quarter from a year earlier, according to preliminary data issued by The Nelson A. Rockefeller Institute of Government.
“This is the second consecutive quarter that states are reporting growth in overall tax collections on a year-over-year basis,” according to the report. “Such growth is at least partially driven by legislated changes in several states.”
Thirty of 47 early-reporting states reported gains in overall tax collections, while 17 saw declines. Personal-income-tax revenue increased by 1.6% for the nation.
The report seems to indicate good news for municipal-bond investors, who may have been worried in the wake of Harrisburg's disclosure this week that it was defaulting on a $3.29 million payment on a general-obligation bond.
The payment, which was due in two weeks, is insured by Ambac Financial Group Inc., which has said that it would cover the payment. Nevertheless, some experts speculated that the Harrisburg default might signal a wave of muni-bond defaults.
For the complete article visit Investment News
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