Chip Barnett

Comptroller Thomas DiNapoli noted state law requires salary payments to legislators be withheld after March 31 if a budget is not in place.

"Folks are aware of possible pressure that could weigh on the market, but attitudes are still generally more constructive than negative at this time," says Tom Kozlik of HilltopSecurities. 

The bill would create a state investment fund and establish a debt reduction program to be administered by the Division of Bond Finance.

Villanova, who is based in Hawaii, will help expand Bancroft's engagement with issuers, underwriters and financial advisors.

Public finance veterans Marvin Markus and Mark Liff join Siebert as managing directors to focus on expanding the firm's infrastructure and higher education practices.

Yields on top-rated municipal bonds fell as much as nine basis points on Friday as bank contagion fears resurfaced and investors looked to safe-haven securities. The primary calendar is rebounding, with volume rising to an estimated $5.4 billion in the week ahead.

"If banks become even more reluctant to make new loans, the likelihood of a recession grows," says New York City Comptroller Brad Lander.

"Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security," said Gov. Ron DeSantis.

The collapse of Silicon Valley Bank and Signature Bank clouds the economic landscape and complicates monetary policy decisions but it's a long way off from the troubles banks and broker-dealers faced in the 2008 financial crisis.

So far 12 states have enacted ESG statutes with 67 pending statues in 28 states, according to the Morgan Lewis law firm. Florida's anti-ESG bill goes farthest.

Even more uncertainty has been introduced into the municipal bond market as the Federal Reserve may have to tweak its monetary policy plans as the situation unfolds.

Fitch said revenues improved significantly in fiscal 2022, more than doubling the prior fiscal year total and exceeding the pre-pandemic peak recorded in fiscal 2018.

Fitch said the action "reflects the recent enactment of legislation clarifying the future operational profile of the district," formerly controlled by Disney.

The state approved further cuts next year with provisions for possible additional cuts annually, starting in 2025, paving the way for the elimination of the personal income tax.

State Treasurer Dale Folwell said he backs the intent and purpose of the bill, which is supposed to make the bond issuance process more transparent.

Mayor Eric Adams executive budget "will be released in just 51 days, giving us limited time to marshal the substantial resources we will need to stay balanced in fiscal 2023 and 2024," said OMB Director Jacques Jiha.

Ellis Phifer, managing director and senior strategist in the fixed income research department at Raymond James, talks with Chip Barnett about the state of the bond markets. (Taped Feb. 16; 15 minutes)

"The outlook revision reflects recent state legislation that provides for the district's continued ability to levy ad valorem taxes," said S&P analyst Christian Richards.

Fitch Ratings raised Miami-Dade County's $4.9 billion of aviation revenue and revenue refunding bonds to A-plus from A.

Benjamin was mayor of Columbia from 2010 to 2021, leading the city through a time of tremendous growth.