California

Russia’s invasion upends a return to normal as the economic impact of COVID-19 wanes, UCLA Anderson Forecast economists said.

Secondary trading showed weaker prints, moving triple-A yields higher by three to seven basis points, outperforming larger losses in UST. California priced $2.2 billion of GOs for retail.

The lawsuits challenge the procedures the NFL used to move the San Diego Chargers to Los Angeles.

As municipals continue to underperform the moves in U.S. Treasuries, current ratios are attractive and present a buying opportunity.

Market volatility has risen significantly, particularly in the last several weeks, with daily Treasury yield swings of 10 basis points or more becoming the norm with municipals struggling to stabilize.

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

Issuers in California sold more than $86 billion of municipal bonds in 2021.

The climate change pilot program fund has attracted more than 40 interested parties seeking $47 million of funding.

A new report from Merritt Research Services looks at potential post-pandemic problems for big cities that rely on taxes from commercial real estate.

Issuance of ESG bonds is projected to grow 23% this year, while the entire market only expands by 2%, S&P Global Ratings analysts said.

Fitch affirmed its BB-minus rating of the Del Mar Race Track Authority. The rating dropped below investment grade after the March 2020 stay-at-home orders.

The previously unrated Santa Cruz Metropolitan Transit District will be the first transit agency to price debt to cover pension liabilities when it hits the market Wednesday.

The school board, caught between budget pressure and angry parents, could vote Tuesday to close or merge 16 schools in the California school district amid waning enrollment.

After a signature drive failed to put a water funding measure on the statewide ballot, a state Assembly member is trying to get his fellow lawmakers to do so.

The Port of Los Angeles launched a Cyber Resilience Center that protects not only port administration systems, but the shipping companies that berth there.

Schank, who will be a managing principal at the private consultancy, said he accomplished the goals he set when he moved to LA Metro seven years ago.

“To date, there haven’t been any rating actions taken as a result of the drought,” said Fitch's Audra Dickinson. “But it could pressure issuers acutely."

Supporters of a ballot measure for projects to increase California’s water supply put out a call for donations to help get the measure on the 2022 ballot.

California officials blame a new electronic records system for reporting delays that worsen every year, though other states don't have the same problem.

Gov. Gavin Newsom listed homelessness, wildfire prevention, climate change and continuing efforts to reduce pension liabilities as budget priorities.