The Bond Dealers of America applauds Congressional leaders and the White House for making infrastructure a priority in the recovery from this ongoing national emergency. The BDA is encouraged that Speaker Pelosi plans to go forward with the House “Moving Forward Framework” that prioritized municipal bonds, while outlining the need for the restoration of tax-exempt…
Author: Bond Dealers of America
Bi-Partisan Push for Infrastructure Emerges
BDA Leading Advocacy for Member Priorities The President and Congressional leaders have this week turned their focus to infrastructure investments as a major component of the next round of stimulus in response to the ongoing COVID-19 pandemic. Discussions are still in the initial phases, but bi-partisian support for a “phase 4” package that includes direct funding for infrastructure seems…
House Passes Stimulus Bolstering Municipal Market
This afternoon, the House passed the CARES Act, (H.R. 748), a broad, $2 trillion dollar stimulus package in response to the ongoing COVID-19 pandemic. The legislation is exepected to be signed into law by President Trump later Friday. The BDA applauds Congress for taking quick and effective action to stem the economic uncertainty associated with the…
BDA Applauds Senate’s Efforts to Support Municipal Market
Last night, (March 26, 2020) the Senate passed the CARES Act, (H.R. 748), a broad, $2 trillion dollar stimulus package in response to the ongoing COVID-19 pandemic. The BDA applauds the Senate’s quick and effective action to stem the economic uncertainty associated with the virus crisis. We note particularly Section 4003 of the Act providing…
Senate Stimulus Takes Steps to Add Liquidity to Municipal Market
After extensive effort from the BDA and its membership, the Public Finance Network, and issuers and market participants nationwide, the Senate has included provisions aimed to stabilize the municipal market in a sweeping $2 trillion dollar stimulus package that will likely pass later today. While at this time it is uncertain if the House will return…
MSRB Suspends Price Variance Alerts for Dealers
Board Also Extends Comment Date for Proposed Governance Enhancements Today (March 23, 2020) in response to the significant impact that the spread of the Coronavirus Disease (COVID-19) is having on regulated entities, the MSRB is temporarily suspending the transmission of the price variance alerts for trades reported to MSRB’s Real-Time Transaction Reporting System (RTRS) effective immediately.…
Senate Stimulus Fails on Procedural Vote
Last night (March 22, 2020), the robust, $1.6 trillion dollar Senate stimulus package failed 47-47 on a procedural vote in an effort to advance the package to open debate. A procedural vote on an amended draft is expected by 1:00pm(ET) in the Senate today. The House continues simultaneous discussions on a separate stimulus package, however…
Fed Acts on BDA Request to Support Municipal Market
Today, March 23, 2020, following submission of a letter in which the BDA urged the fed to take action to support the municipal market, and ongoing calls from a broad range of market participants, the Federal Reserve announced extensive, new measures that will: Facilitate the flow of credit to municipalities by expanding the Money Market…
Action Needed Today: Please Contact Your Senator in Support of the Bond Market Emergency Relief Act
The BDA continues to aggressively advocate in support of the addition of language to the Senate stimulus bill from the Bond Market Emergency Relief Act. Directly working with Members of Congress and staff, Official BDA statements of support as reported this past week in Bloomberg, Politico and the Bond Buyer, and Working with BDA members and our…
BDA Statement on Municipal Market Conditions and the Need for the Federal Reserve to Provide Immediate and Broad Based Support
“Considering municipal market disruption and current economic uncertainty, the BDA believes the Federal Reserve should provide temporary, meaningful broad based support to the municipal market during these unprecedented times including to VRDNs and longer dated securities.” – Mike Nicholas, CEO, Bond Dealers of America The Bond Dealers of America is the Washington, DC based trade…