Debtwire Radio

If New Jersey and other pension-pressured states look for federal help during a possible upcoming recession, the Manhattan Institute’s Steven Malanga sees just one option: a special bankruptcy provision like the one created for Puerto Rico. Debtwire Municipals Kathie O'Donnell breaks it down. Members of the Chicago Teachers Union (CTU) are on the picket line while the district is preparing to raise short-term debt. Debtwire Municipals Patrick Ferguson gives us the latest as the district and union leaders have failed to come up with a new labor agreement. With interest rates at historic lows, the municipal bond market is seeing increased interest in pension obligation bonds (POBs) – and more could come as the current interest rate environment lessens the arbitrage risk associated with the debt instrument. Debtwire Municipals Maria Amante explains the trend.