The Latest

Brace for an unpredictable year in community finance, where a confluence of global turmoil, mandatory tech advancements, legislative implementation, and potential political upheaval collide with an already fragile insurance market.

State bonds are a key part of the two-state plan to replace the aging Blatnik Bridge, but officials are also seeking more than $1 billion in federal grants.

Triple-A yields fell up to five basis points Friday while USTs were mixed. Munis still underperformed taxables on the week, but the setup for the asset class going into yearend is decidedly positive.

S&P believes the state has sufficient liquidity and reserves to weather the shortfall, but analysts are not seeing the structural steadiness it had that led to the positive outlook, said lead California analyst Oscar Padilla.

The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.

Over a billion dollars of project revenue bonds would support the project

The $250 million of new money social bonds will finance public school construction projects, with another $190 million refunding debt issued to build schools.

Federal Reserve Bank of New York President John Williams said it's too early for officials to begin thinking about cutting rates as soon as March as they consider whether policy is restrictive enough to get inflation back to 2%.

The experts, hired by bond parties, say the Oversight Board's economic and expense assumptions underlying its plan of adjustment are too pessimistic.

After months of speculation, the firm confirmed it would "wind down" its municipal underwriting and market-making activities after a "broad-based review" of its muni business, according to a company memo.