Fed’s Bostic expresses caution about the pace of interest rate hikes

Atlanta Federal Reserve President Raphael Bostic on Tuesday expressed concern about the impact that rate hikes could have on the U.S. economic recovery, saying the central bank shouldn’t move so fast that it chokes off growth. Bostic did not commit in a CNBC interview to what pace the Fed should take in increasing benchmark rates. Instead, he said policymakers should be measured in their approach and watch how what they do impacts conditions. “I think I’m in the same areas as my colleagues philosophically,” he told CNBC’s Sara Eisen in a “Closing Bell” interview. “I think it’s really important that we get to neutral and do that in an expeditious way.”
Source: CNBC – Bonds

Ranson Financial2022-04-20T01:15:18-05:00April 20, 2022|News|

Munis sell off, 30-year AAA tops 3%

Municipals sold off Tuesday, with triple-A benchmarks seeing cuts up to 11 basis points and the 30-year topping 3% on some scales. U.S. Treasuries were weaker, experiencing double-digit cuts on the short end, and equities rallied. Triple-A muni yields rose nine to 11 basis points, depending on the scale, while UST yields rose 10 to 15 basis points on bonds 7 years and in, with the largest losses on the one- and two-year. Muni-UST ratios were at 82% in five years, 91% in 10 years and 100% in 30, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five at 81%, the 10 at 90% and the 30 at 101% at a 4 p.m. read.
Source: The Bond Buyer

Ranson Financial2022-04-20T01:13:43-05:00April 20, 2022|News|

Ground to be broken on 192-unit housing development in Garden City

On Wednesday, April 20, a groundbreaking ceremony will be held for Hunters Glen, a multi-phased housing project in Garden City that will bring hundreds of housing units to the community. Phase I consists of 86 units at a total development cost of over $19,000,000 and has been obligated, while Phase II is in final application to USDA for 106 units and a total development cost of $22,000,000. A Phase III will be submitted for preliminary application to USDA in the Fall of 2022. Funded through USDA 514 loan and USDA grant dollars with financing by Bonneville and Horizon Bank, Phase I will provide affordable housing options for farmworkers as broadly defined by USDA. “We’re very excited to be breaking ground at Hunters Glen,” Lona DuVall, President and CEO of Finney County Economic Development Corporation, said. “This project will help to fill some of our workforce housing needs. We appreciate Michael Snodgrass and his team’s dedication to partnering with Garden City and Finney County to create high quality rental housing.” Snodgrass is owner of Oikos Development Corporation, the project developer.
Source: Greater Garden City

Ranson Financial2022-04-20T06:55:03-05:00April 20, 2022|News|

Suburban school officials predict ‘chaos’ if Kansas lets out-of-district students transfer freely

Kansas stands on the verge of letting students attend any public school — regardless of where they live. Conservatives love the plan. They say it would give poor families stuck in failing school districts a chance at a life-changing escape. But school administrators running well-heeled suburban districts already are taking measures to demonstrate their classrooms are full — the one exception the proposed change would allow from barring students who want to transfer into a district they don’t live in. They say they have little choice if they’re going to protect their taxpayers from the cost of teaching a flood of students they’re not prepared for and who come with needs they can’t afford to accommodate.
Source: KCUR News

Ranson Financial2022-04-20T01:10:20-05:00April 20, 2022|News|

Wichita City Council OKs millions more in public money for Riverfront Stadium district

The Wichita City Council on Tuesday approved pumping nearly $10 million in additional public incentives into its minor league baseball stadium district, including a tax-funded parking garage and tax breaks on two office buildings for developers. The move is meant to jump-start development of two office buildings and a hotel along McLean Boulevard. Taxes generated at those businesses would help pay off the debt on $75 million Riverfront Stadium. The city approved diverting $8.7 million in property taxes collected in the Delano Tax Increment Financing (TIF) district to pay for a 283-stall parking garage directly east of the stadium. With the vote, the council approved issuing up to $40 million in industrial revenue bonds (IRBs) for the team’s office buildings, which provides a $906,500 tax exemption on building materials for the Wind Surge owners and EPC Real Estate. The sales tax exemption does not apply to the hotel building.
Source: Wichita Eagle

Ranson Financial2022-04-20T06:56:02-05:00April 20, 2022|News|

Masks now optional on Lawrence buses

Masks will no longer be required for Lawrence Transit riders or employees following a federal judge’s ruling that suspends enforcement of a mask mandate on public transportation, the city announced Tuesday. “Our mask mandate enforcement is based on federal guidance,” Adam Weigel, Transit and Parking Manager, said in the city’s news release. “We encourage everyone to monitor public health information and make decisions aligned with their needs.” The CDC still recommends masks in indoor public transportation settings, and the city would refer people to Lawrence-Douglas County Public Health for the most up-to-date local health information.
Source: The Lawrence Times

Ranson Financial2022-04-20T00:55:19-05:00April 20, 2022|News|

‘Honest Abe’ tells stories at library in Atchison

Persons representing all walks of life and ages gather to hear a famous Abe tell tales of his from history books on Tuesday at Atchison Library. The Library and Atchison County Kansas Genealogical Society presented President Abe Lincoln portrayed by Kevin Wood. “Abe Lincoln Storyteller” recreated the humorous attitudes of Lincoln throughout his legal and political careers. Some iconic vintage props associated with Lincoln the Storyteller like his stovepipe hat and circled-shaped, black, over the shoulder, flask canteen enhanced the performance.
Source: Atchison Globe Now

Ranson Financial2022-04-20T00:52:38-05:00April 20, 2022|News|

Food sales tax elimination could be felt at city, county level

Trumpeted by Gov. Laura Kelly, Attorney General Derek Schmidt and other prominent Kansas politicians, the call to “axe” the state food sales tax has been a dominant refrain during the current legislative session. While the elimination of the state food sales tax remains a focus, action has yet to be taken by the Legislature. That uncertainty has city and county governments preparing for a number of potential impacts – not least of which is what the elimination of that taxing power would do at the local level.
Source: Atchison Globe Now

Ranson Financial2022-04-20T00:50:46-05:00April 20, 2022|News|

Topeka busses will no longer require masks

The Topeka Metro will no longer require masks for bus riders. On Monday a federal judge in Florida struck down a national mask mandate on airplanes, mass transit, and airlines, including airports, which swiftly began repealing their requirements that passengers wear face coverings. KSNT 27 News contacted about this ruling, and they gave this statement: “People can wear them if they want, but there is no requirement.”
Source: KSNT 27 News

Ranson Financial2022-04-20T00:48:04-05:00April 20, 2022|News|

Overland Park mayor proclaims April 19 to be Christian Braun Day

An order of business in the Overland Park City Council Meeting on Monday had the proclamation of April 19, 2022, becoming Christian Braun Day. Mayor Curt Skoog upheld the proclamation, making it official. “His energy on the court adds to the excitement of watching the Jayhawks play,” Skoog said. Braun attended Blue Valley Northwest High School. This past season for the Jayhawks, he averaged 14.1 points per game, including 11.2 points per game in March Madness.
Source: KSNT 27 News

Ranson Financial2022-04-20T00:46:12-05:00April 20, 2022|News|

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