Wisconsin

The SIFMA Swap Index fell to 3.24% Wednesday, down 50 basis points from 3.74% from the week prior, and 131 basis points from 4.55% it hit on Jan. 24 as swings continued in the VRDO market. Tax-exempt money market funds reversed course to see inflows of almost $4 billion.

Fitch Ratings recently downgraded Marshfield Clinic Health System, a nonprofit group of 11 hospitals in central Wisconsin, to BBB from BBB-plus.

Wisconsin and Minnesota have jointly received a $1.05 billion grant from the U.S. Department of Transportation to replace the aging Blatnik Bridge.

The top five bond financings have an average dollar volume of more than $917 million.

The state of Wisconsin is embarking on a flurry of debt-related activity as the year begins, with a cash defeasance and three refunding deals on the table.

State bonds are a key part of the two-state plan to replace the aging Blatnik Bridge, but officials are also seeking more than $1 billion in federal grants.

A new deal with Microsoft may help fill the void left by the underperformance of a Wisconsin incentive deal to lure Foxconn to the village of Mount Pleasant.

Final responses are due by Dec. 8 from muni underwriters who want to be on Wisconsin sale syndicates.

The state reported a $7.07 billion budget balance and $1.8 billion in its rainy day fund.

The state in 2010 sold $1.5 billion of bonds backed by payments from a master settlement agreement with tobacco firms and used the proceeds to pay overdue bills.

A Wisconsin county has sold more than $200 million of bonds for broadband provider Bug Tussel to provide high-speed internet to rural customers in the state.

Issuers in the Midwest sold $32.6 billion of debt spread over 1,223 deals in the first half, down from $40.5 billion a year earlier.

The measure comes after months of dire warnings over the city's looming insolvency.

Through his use of the partial veto, Gov. Evers pared down a GOP-authored income tax cut and gave school districts the power to raise a per pupil revenue limit by $325 annually for centuries.

If approved by the local governing bodies, Milwaukee could raise nearly $180 million more annually from the new sales tax and the county $80 million from a hike, according to estimates.

State legislation that increases Milwaukee's revenue prospects falls short of what the city needs to manage rising pension and other costs, Fitch Ratings said.

The Missouri House approved legislation to strip St. Louis of its earnings tax on remote work; Wisconsin lawmakers unveiled a plan to raise revenue sharing.

"Tenders are another tool in the toolbox, that depending on the situation and market dynamics, can be used to generate robust savings," Aaron Heintz said.

Several Midwest hospital mergers that are in the works will contribute to the 2023 numbers while one announced in 2022 just closed.

Wisconsin's Republican legislative majorities for a third consecutive biennium rejected Democrat Tony Evers' capital plan and will craft their own version.