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As federal funding dries up, cites are searching for new funding sources.

A preliminary 9.3% return on investments in the year ending June 30 brought CalPERS' funded ratio to 75%, the public pension fund reported.

Mulry's career in public finance spanned nearly 40 years. He is remembered as a dedicated and generous colleague and friend.

"Buyer interest comes as forward supply is projected around $20 billion (the high water mark over the last year) while offsetting calls and maturities sit about $2 billion lower, creating a net supply surplus," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.

Craig Brothers, partner, portfolio manager and co-head of fixed income strategy for Bel Air Investments, joins Bond Buyer senior reporter Keeley Webster and discusses why his firm, primarily invested in California debt, has veered away from California GOs and public works revenue bonds in favor of agency, school district and local government debt.

The city faces no monetary penalty or monitorship in the final judgment in what those involved are calling an unprecedented move for SEC litigation.

The Municipal Securities Rulemaking Board will hold its first meeting of fiscal 2025 on October 23 and 24, under its new chair, Warren "Bo" Daniels.

After the school board resigned, the rating agency put Chicago Public Schools on notice that it will watch how its tricky financial situation is handled.

In the long run, Helene and Milton may further drive already rising property insurance costs, while in the short-term S&P placed three utilities on CreditWatch.

The muni market enters the last quarter of 2024 in "excellent shape," said GW&K Investment Management partners John Fox, Brian Moreland, Kara South and Martin Tourigny.