The 10-year U.S. Treasury yield held above the 1.4% level on Thursday morning, ahead of the U.S. Department of Commerce releasing its second estimate for fourth-quarter gross domestic product. The yield on the benchmark 10-year Treasury note climbed to 1.454% at 7:00 a.m. ET. The yield on the 30-year Treasury bond rose to 2.312%.
Source: CNBC – Bonds
A week after temperatures plummeted below zero, causing demand for electricity and natural gas to skyrocket, some are getting a glimpse at what it is going to cost. Cheney Superintendent David Grover says the district’s bill is usually $7,000 but now is $57,000 and it doesn’t include the coldest days. The district gets its gas from the city. “School budgets as most people understand are set July 1, read July 1 through June 30th, and there certainly was never a $300,000 cushion built into energy,” said Grover. He has reached out to local, state, and federal lawmakers for help.
Source: KSN-TV
U.S. Senator Roger Marshall, Rep. Ron Estes, Rep. Tracey Mann, Rep. Jake LaTurner, and Rep. Sharice Davids sent letters on Tuesday to Federal Energy Regulatory Commission Chairman Richard Glick amid extreme increases in natural gas prices. They are asking Glick to consider expeditiously Governor Laura Kelly’s emergency request to protect Kansans from the potentially severe economic consequences following the arctic blast last week. They are also asking to look into the price spike and see what can be done to make sure it doesn’t happen again. “I really think we need some type of investigation before we rely upon the federal government to try to solve this problem. We need to go back to those gas companies and figure out exactly why this price went so high,” said Sen. Marshall.
Source: KSN-TV
Since the City of Wichita opened applications for the Wichita Emergency Rental Assistance Program Monday morning, more than 800 people have sent in their solicitation. City officials say they expect the number to gradually grow. The program is intended to help Wichitans pay for their overdue rent and utility bills. “Many families have been impacted by COVID-19 and are hurting, I mean we see the number of families that are struggling to get their unemployment benefits that really didn’t surprise me,” said Sally Stang, Director of Housing and Community Services for the City of Wichita. “And we’re going to continue to outreach to make sure that we are reaching everybody who might be eligible to apply.”
Source: KSN-TV
After a lengthy hearing in Topeka, the state Legislature won’t be taking action to save Century II and the former Wichita downtown library. The Save Century II group argued their case for state intervention before the House Local Government Committee. Save Century II members Celeste Racette, John Todd, Karl Peterjohn and Walt Chappell were asking lawmakers to require a binding public election before any decisions are made to tear down the historic buildings to replace them with a sweeping redevelopment of the Arkansas River front where they stand.
Source: Local News | Wichita Eagle
Tim Meier with BPU provided commissioners with an update on gas prices, production and the cold snap during Monday’s city commission meeting. Meier advised that, beginning on Feb. 9, BPU became curtailed on their production and had to begin receiving oil. They maintain approximately one million gallons of oil in stock at their facilities, but with gas prices going through the roof, they knew they needed a lot of fuel generation. “Typically, natural gas is substantially cheaper than oil, but oil was actually the cheaper option,” Meier said.
Source: McPherson Weekly News » Feed
Triple-A municipal benchmarks saw another seven basis point cut in yields on bonds outside of 10 years on Wednesday, pushing municipal to U.S. Treasury ratios higher amid sloppy trading and cheaper pricing levels on high-grade competitive deals. Municipal bonds could not ignore another rise in U.S. Treasury rates, Federal Reserve Board Chairman Jerome Powell’s congressional testimony and a resulting equity rebound, along with approval of emergency use of a new COVID vaccine and the likelihood of more federal stimulus. “The municipal yield curve continues to steepen, and refuge from significant price losses only exists at the very short end of the market at this time,” said Michael Pietronico, chief executive officer at Miller Tabak Asset Management.
Source: The Bond Buyer
The current COVID-19 positive rate is down to 4-point-7 percent. That’s the lowest it’s been since the last week of September. County leaders are set to meet on Friday to discuss the current health order which expires on March 20. County commissioner Pete Meitzner said he is pleased with the community’s role in lowering the positivity rate. The county manager says fewer restrictions could be on the way but ultimately it’s up to the health officer. “Now the order that we currently have is in effect until sometime in March, we will talk with Dr. Minns on Friday about a number of things — but one of them is going to be what his feelings are on regulation right now and I would bet he will definitely want to discuss that,” said Tom Stolz, Sedgwick County manager.
Source: KSN-TV
The recent arctic blast led to skyrocketing energy demands across the midwest and now many customers are fearing skyrocketing bills. Midwest Energy, Inc. is a company that provides gas and electric services to a large portion of western Kansas. Following the recent weeks’ weather and events, the company had hundreds of concerned customers reach out to ask if they too could expect higher bills in the coming months and if they needed to prepare for a financial hit. In response to the calls, company CEO Patrick Parke said, “We will stand with our customers.”
Source: KSN-TV
Shawnee is claiming eminent domain to acquire private property for construction improvements along the 75th Street corridor. Located along a section of 75th between Quivira and Switzer Roads, the project involves the widening of a sidewalk on the north side of 75th as well as building a new 8-foot multipurpose trail along the south side. Paul Lindstrom, senior project engineer with the city, said nearly all of the permanent and temporary easements are required to make room for the sidewalk expansion and new trail.
Source: Prairie Village Post
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