Markets

Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.

The financially distressed utility has less than two weeks to find a substitute supplier of 80% of its fuel.

Issuance shrinks to $722 million while Bond Buyer 30-day visible supply sits at little more than $7 billion.

"We continue to see very strong job numbers. Florida is in as good of a position as we could possibly be," said Jimmy Heckman of the state Department of Economic Opportunity.

Nathaniel Singer, who has nearly four decades of experience in municipal derivatives and advisory space, has joined PFM.

Chicago's Sales Tax Securitization Corp. will sell $150 million of social bonds next month in the city's first ESG-labeled deal.

Municipals improved again Thursday, pushing the 10-year yield firmly below 3%, while Refinitiv Lipper reported $604.704 million of inflows into municipal bond mutual funds for the week ending Wednesday.

The deal has until the end of Friday to clear the Texas Bond Review Board, whose members had no questions about the transaction when it was presented at a Thursday meeting.

Investment bank expands with three former Citigroup muni veterans at the helm.

As market participants navigate through the remaining weeks of 2022, Jeff Lipton, managing director of credit research at Oppenheimer Inc., expects munis to maintain their outperformance over USTs