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· Wisconsin
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Jump to full article: Bloomberg News, 2009-03-19
Author: Darrell Preston
Intro: Wisconsin completed its $1.54 billion municipal bond sale, saving millions of dollars in interest the day after the Federal Reserve’s announcement that it would expand asset purchases to include U.S. government debt.
The Federal Reserve announced yesterday its plan to buy up to $300 billion in U.S. debt. Treasuries yesterday headed for a weekly gain as investors bet yields will remain low. Wisconsin benefited by cutting yields in nearly all the maturities after taking institutional orders yesterday.
“We got help from the Fed’s action,” Frank Hoadley, Wisconsin’s director of capital finance, said in an interview. “It forced a significant re-pricing up and down the scale.”
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