California

The aim of the program was to create affordable moderate-income housing more quickly by acquiring existing apartment communities and converting the units to below-market-rate as existing tenants moved out.

Some buying returned to the market Thursday from the buy-side and asset managers as dealers attempted to sell bonds, said Chris Brigati, senior vice president and director of strategic planning and fixed income research at SWBC.

Longtime San Francisco Bay Area bond attorney firm Quint & Thimmig is closed.

The UC Regents will close the books on its $1.1 billion refunding deal that included the refunding BABs Wednesday. Investors do not appear to be penalizing the issuer in secondary trading as spreads have stayed at or near the original pricing.

The calendar is led by several high-profile deals, including $2.7 billion of GOs from California, $1.5 billion from New York City and $1.1 billion from Washington. High-yield gets another dose of unrated project finance debt from Miami Worldcenter Project tax increment revenue bonds. The Bond Buyer 30-day visible supply sits at $12.06 billion.

The initiative proposed by business interests would amend California's constitution to prevent the state from approving tax increases without a two-thirds majority vote of the Legislature and voter approval.

Alex Boutyrski, who joins as a senior vice president, will work in the group launched by John Baracy in February.

California State Controller Malia Cohen says her office will get the release of the state's ACFR back on track within two years.

California State Senate suggests deficit-shrinking cuts ahead of formal budget.

Though the economists don't expect a recession looking out two years, there is a lot of risk related to the conflict in the middle east and uncertainty around monetary policy.

Raymond James' 10 hires include six senior bankers and an entire Citi public finance team focused on California.

One investor is offloading the debt, while another sees an opportunity.

"Our firm is committed to expanding in regions and sectors with robust muni issuances and we view the K-14 market in California to be a great intersection of such," said Gary Hall, SWS president of infrastructure and public finance.

The San Diego Community College District is among those joining the trend of buying back bonds in a tender to refund for savings.

High rates and high inflation, coupled with rich reserves, pushed off or delayed issuers coming to market in 2023, noted James Pruskowski, chief investment officer at 16Rock Asset Management.

Munis should remain well bid until issuance picks up "dramatically," said Nuveen's Anders S. Persson and Daniel J. Close.

The state's largest healthcare district by land mass is at risk of breaching financial covenants, according to Moody's Investors Service.

"I think we are starting toward higher volume," said Raul Amezcua, senior director at Samuel A. Ramirez & Co.

Robert Poole, a leading expert in the U.S. public-private partnership transportation sector, joins infrastructure reporter Caitlin Devitt to talk about upcoming deals including toll lanes and bridges in the Southeast and high speed rail in the West as well as states that are advancing P3s and action on the federal front. (37 minutes)

The proposed $1 billion bond measure would fund port improvements needed to push the state's nascent offshore wind power industry forward.