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Oklahoma joins Texas, Arkansas and Louisiana in allowing utilities to float securitized bonds to recover spending on fuel price spikes during Winter Storm Uri.

The new-issue calendar is $5.45 billion while 30-day visible supply sits at $11.14 billion. The largest deal of the week comes from the New York City Municipal Water Finance Authority with $793.83 million.

The city's current trajectory could drive per-unit costs to $1 million, according to the audit by City Controller Ron Galperin.

Lawmakers are being asked to put off a deadline to consolidate suburban Chicago and downstate police pension assets and extend the deadline for funds to reach a 90% funded ratio by 10 years.

The board also says the bondholders' proposed deadlines for completing a restructuring are too tight.

Fitch also affirmed the city’s AA-minus general obligation bond and issuer default ratings.

Municipal bond issuance in the region was down 11.7% year-over-year in 2021, as new money, refunding, taxable and tax-exempt volume all slipped.

Soaring inflation could pressure the ratings of utilities if they bring rate hikes that spark customer and political opposition, S&P Global Ratings said.

“With inflation well above the FOMC’s longer-run objective and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate,” the Fed said.

Pandemic-related aid helped raise the proportion of state revenues coming from the federal government to record highs in fiscal year 2020, Pew Research found.