Hawaii

The state's reliance on tourism makes airports essential to its economy, Fitch said.

The rating action affects $423 million in bonds and certificates of participation. The territory's issuer rating was affirmed at speculative-grade Ba1.

The ratings agency says enplanement levels is key to the action.

Airports, schools and affordable housing received an infusion of cash from lawmakers

"The curve slope has undergone a massive flattening this year and recent trends suggest demand pockets are developing in specific ranges," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

"Despite a pick-up in volatility in the rates market, municipals have been performing relatively well in October," according to Barclays PLC.

Moody's says Hawaii's tourism-based economy is disproportionately vulnerable to high inflation. It affirmed the state at Aa2 ahead of a $800 million GO deal.

But governor and an analyst caution about appropriating "excess revenues" before an audit.

New-money volume was off in the Golden State and across the Far West, but refunding volume was down even more.

She expects $50 million more in revenues in fiscal 2023.

New Jersey and Illinois have the lowest state bond ratings. But all three states have been ramping up pension contributions, according to S&P Global Ratings.

Private activity bonds for a coffee farm and general obligation bonds for an emergency center were cut with Gov. David Ige's veto pen.

Maui County's mayor now has to approve or veto the budget before the start of the fiscal year on July 1.

As summer beckons, it's time for a reporters' roundtable with some of the Bond Buyer's senior staff. Yvette Shields, Karen Pierog, Keeley Webster and Thomas Nocera talk with Chip Barnett about what's hot in their regions and what municipal bond market participants should expect to see in the months ahead. (25 minutes)

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

A whopping 27% increase in revenues in the second half of fiscal year 2021 sets the state up to replenish its reserves and restore positions cut during the pandemic.

The consequences of climate change for this island state are broadly evident. So is its official response.

With a lot of cash still needing to be put to work, the Investment Company Institute showed another large week of inflows at $1.814 billion.

Month-to-date returns for municipals are in the red with the Bloomberg Fixed Income Indices municipal index returning -0.12%, high-yield at -0.15% and taxables at -0.32%.

Both S&P Global Ratings and Moody's Investors Service lifted their outlooks, citing a rebound from pandemic-driven budget pressures.