Emergency Manager Kevyn Orr said Detroit would be more attractive to Wall Street than ever once the bankrupt city emerges from Chapter 9 bankruptcy later this year.

Observers of New Jersey's fiscal situation agree that the state's situation is tough and will get tougher in the face of pension underfunding and a budget deficit.

The first hearing in Jefferson County, Ala.'s bankruptcy appeal has been reset to July 18 from May 15 due to a court scheduling conflict.

Moody's downgraded Wayne Memorial Hospital's issuer rating to Baa1 from A3 due to the North Carolina hospital's "recent weak operating performance and low revenue growth."

The Federal Transit Administration awarded about $167 million to the Port Authority of New York and New Jersey and $67 million to New Jersey Transit to help both agencies continue rebuilding and replacing after Hurricane Sandy.

Pittsburgh, through consultants Public Financial Management and Eckert Seamans Cherin & Mellott, has filed an update to its financial recovery plan under Pennsylvania's Act 47 workout program for distressed communities.

The Southern California Logistics Airport Authority is using tax increment distribution revenue to cure most bond defaults, but will default on new payment, according to a document posted on EMMA.

San Pablo, Calif., acting as successor agency to its former redevelopment agency, is planning to a $52 million refunding deal to save millions in debt service payments.

A House representative has introduced a bill to an 11-bill package tied to Detroit's bankruptcy that would allow the city's mayor to sit on a key oversight board.

Bert A. Betts, who served as California's state treasurer in the 1950s and 1960s, has died at age 90.

Illinois lawmakers wrapped up their spring session with passage of a new $1.1 billion capital plan for transportation projects and a $35.7 billion operating budget that relies on -one time fiscal maneuvers.

Fitch Ratings warned it would cut its rating on $5.7 billion of Detroit's water and sewer debt to as low as D if the bankruptcy court approves the city's current plan of debt adjustment.

Weekly municipal bond volume is forecast to jump to $6.5 million in the coming week, providing a measure of relief to a supply-starved market.

Municipal mutual funds reported inflows declined to $634.5 million in the week ended May 28 from $663.6 million of inflows the week before.

The Bond Buyer's muni bond indexes mostly strengthen in the week ending May 29.

Issuance declined by 13% in May from April's already low levels, defying analysts' predictions supply would pick up further into the second quarter.

Munis weakened Friday after strengthening for three straight days earlier in the week.

Short-term interest rates should be raised "shortly after" quantitative easing ends, and raise rates at a quicker pace than expected, Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther L. George said late Thursday.

The Midwest Economy Index grew to positive 0.12 in April from a revised negative 0.04 in March, the Federal Reserve Bank of Chicago reported Friday.

The seasonally adjusted Milwaukee Report on Business soared to 63.5 in May from 47.3 in April, the Institute for Supply Management-Milwaukee reported Friday.

The U.S. April personal income data showed a surprising slowing in wages, part of which were saved, and real consumption that set up a slow Q2 GDP growth pace.

The Chicago Purchasing Managers' Business Barometer gained to 65.5 in May from 63.0 in April, the National Association of Purchasing Management-Chicago said Friday.

The University of Michigan's final May consumer sentiment index reading was 81.9, compared to the preliminary May 81.8, and the final April 84.1, according to market sources.

Municipal bond yields rose on Friday morning after selling off all week.

Moody's Investors Service said it has downgraded Rockford Public School, Mich.'s underlying general obligation rating to A2 from A1 and assigned a negative outlook.

Moody's Investors Service said it has downgraded to Baa2 from Baa1 the issuer rating assigned to Presence Health, Ill., and the ratings of Resurrection Health Care and Provena Health as parity obligations under the Presence Health master indenture.

Loretta Mester, the next president of the Federal Reserve Bank of Cleveland, said some gauges of inflation alleviate concerns that prices are rising too slowly.

Standard & Poor's Ratings Services said it raised its rating and underlying rating to A from A-minus on the Washington Health Care Facilities Authority's hospital revenue bonds (series 2005A, 2005B, and 2010) issued on behalf of Overlake Hospital Medical Center.

Puerto Rico's $3.5 billion general obligation issuance bonds, sold in March, drew much interest in the secondary this week because of the muni rally, traders say.

U.S. District Court Judge Harold Baer Jr., whose liberal rulings on civil liberties generated a firestorm of criticism and who more recently presided over a municipal bond bid-rigging trial, died at age 81.

Issuers are disclosing more failures to comply with their continuing disclosure agreements than in past months - a development some market participants said stems from a Securities and Exchange Commission's program encouraging them and their underwriters to self-report instances in which bond documents falsely stated the issuer was in compliance with its CDA.

by: Jim Watts

A bill introduced in the Senate mirrors legislation pending in the House proposal to remove the state volume cap on private activity bonds issued for water utility projects.

by: Jim Watts

Sen. Chris Murphy, D-Conn., will propose a 12 cent per gallon increase in the federal gasoline tax to support highway and transit projects.

State and local governments would have to disclose their net or total liabilities for other post-employment benefits on the face of their financial statements under new draft guidance approved this week by the Governmental Accounting Standards Board.

Pennsylvania Auditor General Eugene DePasquale tells how marijuana taxation and regulation could help the commonwealth shore up its budget. He also discusses audits by his office, unfunded pension liability and the effect of a Donald Trump presidency. Hosted by Paul Burton.

Why 3 of 4 rating agencies use A.I. and what it does.

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