Illinois

May volume "surprised on the high end and it has been one of the fastest starts to the year historically," said James Pruskowski, chief investment officer at 16Rock Asset Management.

S&P Global Ratings revised the outlook on bonds issued for the University of Chicago Medical Center to negative from stable.

Mayor Brandon Johnson and Chicago's finance team talked up the Windy City's economy and talked up bond sale plans at an event for municipal bond investors.

Fitch said Illinois has to resolve questions on Tier 2 pension benefits, and fixing Tier 2's failure to meet IRS safe harbor provisions would be credit neutral.

The median time for issuers in all municipal bond sectors to produce audited financials rose nearly 10.5% from 2011 to 2022, according to a new report.

On Friday, Mayor Brandon Johnson will headline Chicago's 2024 investor conference, organized around the narrative that rating agencies underestimate the city. 

Chicago's top suburban customer and Illinois' largest water wholesaler bought land for a treatment plant in Northbrook, saying it will strike out on its own.

The University repriced to lower yields up to 15 basis points Wednesday while Illinois accellerated its pricing of its tax-exempt GOs and were repriced yesterday afternoon with bumps of 10 to 13 basis points and saw $1.5 billion of retail orders alone.

The deal comes after months of disagreements over ballooning costs for the project, which was first announced in 2018.

Lawmakers in Illinois have proposed legislation to consolidate the Chicago Transit Authority, Metra, Pace and the Regional Transportation Authority.