FED DECISION: Cities and states won a partial victory Friday as the Federal Reserve gave final approval to a rule that will let banks include some municipal bonds in stockpiles of easy-to-sell assets meant to serve as a buffer against a financial crisis.
DETROIT: Investors holding $1.5 billion of bonds from Detroit’s distressed schools would be fully repaid under a plan by the state to split the system in two, Michigan Governor Rick Snyder said.
ALSO INSIDE: Louisiana's crisis shows the risks of Republican candidates' tax plans; Puerto Rico’s Government Development Bank will stay open and is examining all available options to improve its liquidity, according to Governor Alejandro Garcia Padilla.
30 day visible supply in muni land: @9.9B. 2.4B competitive, 7.5 negotiated. Fed minutes for February will be released Wednesday.
TH evening will be a meeting, televised, with Janet Yellen, Ben Bernanke, Alan Greenspan, and Paul Volcker.
10 year UST has support around 1.69% level, resistance up to 1.87%.
Neat —tx!