Markets

Fitch's commentary suggests a rating upgrade from BBB-minus is in the offing if the governor's proposed budget passes.

Rates could go up faster than they did in 2015 if predictions for the economy hold, minutes from the FOMC said, but the release offered no hints as to whether a 50 basis point liftoff would be considered.

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

Issuer groups have sent a letter to the Internal Revenue Service requesting remote hearings be made permanent in connection with the issuance of private activity bonds as many issuers still grapple with remote working and ongoing COVID-19 concerns.

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.

Municipal bonds' relative value has increased dramatically as rates have risen and credit fundamentals have improved, with municipal-to-Treasury ratios now on par with their five-year averages.

Arent Fox and Schiff Hardin are poised to expand their public finance operations, creating a firm with more than 600 attorneys and public finance practices in four major U.S. cities.

Stability at the state government level and the prospects of more aid in fiscal 2023 eased balance sheet pressures on Illinois' public universities.

Inflation remains under market scrutiny, with Monday’s data suggesting consumers expect price pressures to cool later this year.

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.