2-year Treasury yield hits highest level since 2007 to start September as traders look ahead to jobs data

1 Thursday, September 1

2-year Treasury yield hits highest level since 2007 to start September as traders look ahead to jobs data

info2022-09-02T07:03:55-05:00September 1st, 2022|

Treasury yields rose Thursday after data showed a significant slowdown in private payroll growth and U.S. equities continued a sell-off. The 10-year Treasury yield was up 6 basis points to 3.1984% at 5 a.m. ET, while the yield on the 30-year Treasury bond gained 5 basis points on the day to 3.3107%. The 2-year Treasury note yield was 4 basis points higher, trading at 3.4953%. The yield on the short-term note has not been this high since 2007. ... Yesterday, a jobs report from payroll processing company ADP showed U.S. private payrolls grew by 132,000 in August, a deceleration from 268,000 [...]

1 Thursday, September 1

‘Starting over with vision’: steering committee identifies priorities for development code update

info2022-09-01T07:27:57-05:00September 1st, 2022|

The ability to create denser neighborhoods that allow commercial and other uses are among the priorities of a steering committee working to update the city’s land development code. The Land Development Code Update Steering Committee had its first meeting Wednesday to discuss the update to the code, which determines where and how the city grows. City Commission member and Committee Chair Brad Finkeldei, who previously served six years on the Planning Commission, said he saw the update as a chance for the city to reset. “We’ve seen changes over time, and I look forward to this not just being a small [...]

1 Thursday, September 1

Municipal Bond Trends for August 31, 2022

info2022-09-01T06:59:38-05:00September 1st, 2022|

The interest rate table above illustrates recent changes in a sample of MBIS "investment grade" yields. Every issuer's credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.

1 Thursday, September 1

Fed’s Mester sees benchmark rate above 4% and no cuts at least through 2023

info2022-09-01T00:46:05-05:00September 1st, 2022|

Cleveland Federal Reserve President Loretta Mester said Wednesday she sees interest rates rising considerably higher before the central bank can ease off in its fight against inflation. Mester, a voting member this year of the rate-setting Federal Open Market Committee, said she sees benchmark rates rising above 4% in the coming months. That's well above the current target range of 2.25%-2.5% for the federal funds rate, which sets what banks charge each other for overnight borrowing but is tied to many consumer debt instruments. Source: CNBC - Bonds

1 Thursday, September 1

Conference in Wichita this week explores affordable housing in Kansas

info2022-09-01T00:44:14-05:00September 1st, 2022|

The Kansas Housing Conference returned this week to its first in-person gathering since before the Covid-19 pandemic — and a lot has changed in the housing market the last two years. "This is a really pivotal time for us in our industry in affordable housing, and specifically here in Kansas," said Emily Sharp, a spokesperson with the Kansas Housing Resources Corporation, which puts on the annual conference. "... I think that the pandemic really put a lot of the housing challenges that were already existing in our state, and across the nation, really under the microscope." It's also the conference's largest crowd yet. The [...]

1 Thursday, September 1

Wichita chosen as site for national youth soccer event

info2022-09-01T06:55:12-05:00September 1st, 2022|

The U.S. Youth Soccer organization has announced that Wichita will be the host site for the National President’s Cup competition in 2023. The event will attract over 2,000 athletes, coaches, officials and fans to Wichita. It will be held from July 7th through the 12th at the Stryker Sports Complex. The 2023 National President’s Cup will be the 15th annual edition of the event. Wichita Vice Mayor Becky Tuttle said in a press release that the city is honored to host the competition, and she said the Stryker Complex can host tournaments of all sizes. Source: 101.3 KFDI

1 Thursday, September 1

Hesston voters say yes, Rose Hill voters say no to school bond issues

info2022-09-01T00:41:20-05:00September 1st, 2022|

Voters in Hesston have narrowly approved a school bond issue for over $33.4 million, while voters in Rose Hill defeated a $19 million bond issue. In Tuesday’s election, the Hesston bond issue was approved with 790 yes votes to 780 no votes. The bond issue is intended to make improvements to the middle school and high school, with new classrooms and other improvements in USD 460. The Rose Hill bond issue had 724 no votes and 471 yes votes. It would have provided improvements for the high school and middle school along with an expansion of day care services in USD [...]

1 Thursday, September 1

Girard receives grant to make city more accessible

info2022-09-01T00:38:44-05:00September 1st, 2022|

The City of Girard is about to make its community more accessible. It's received a $75,000 Pathways Grant from Kansas Blue Cross Blue Shield. The money will be used to help cover the design costs for a new sidewalk construction project. It will focus on increasing accessibility across the city for the disabled or economically disadvantaged -- and could include walkways towards medical services, educational, and-or recreational facilities. "We've been working on this for a while. Actually our old city clerk, Debbie Smith, kind of started the ball rolling like five years ago and we've done two pretty big sidewalk projects [...]

1 Thursday, September 1

Firms seek grants to expand broadband service in county

info2022-09-01T00:37:38-05:00September 1st, 2022|

Proposed broadband expansions in Miami County accounted for nine of the 118 grant applications the state received for the second phase of its capital projects grant fund for broadband infrastructure expansion statewide. Gov. Laura Kelly announced in mid-July that more than 21,000 Kansas homes and businesses are set to receive high-speed internet access for the first time thanks to an $83.5 million grant program through the Kansas Department of Commerce’s Office of Broadband Development. A priority of the program is to support broadband expansion to facilitate work, education, and healthcare in areas that lack access to internet speeds of 100 megabits [...]

1 Thursday, September 1

Rebuild of tornado-ravaged Andover YMCA targeted to finish in 2024

info2022-09-01T00:36:06-05:00September 1st, 2022|

Closed since it was struck by a destructive EF-3 tornado on April 29, the Andover YMCA branch will be rebuilt "better than ever," said Ron McMahon, CEO of the Greater Wichita YMCA. "The whole thing will be redone — every floor, every finish, every wall will be completely redone," McMahon said Wednesday in an interview with the WBJ. It was the first time the YMCA has announced its next steps in Andover since the tornado tore a 13-mile path through portions of Sedgwick and Butler counties three months ago. One of 10 branch locations in the Wichita area, the YMCA was [...]