Markets

The Illinois Sports Facilities Authority's hotel taxes are on the rebound but Chicago is on the hook for a $28 million debt service gap this year.

Outflows continue with the Investment Company Institute reporting $6.167 billion pulled from muni bond mutual funds in the week ending May 4, up from $5.371 billion of outflows in the previous week. 

While expenditures also grew, revenues came in 4.5% higher than projections and were higher than the authority's cost growth.

New York Dormitory Authority school bonds and Northwell Health priced and upsized, while Wisconsin and Oregon offered general obligation bonds. Analysts say municipal curves are oversold, creating a buying opportunity.

The Metropolitan Pier and Exposition Authority will take higher ratings linked to the state's recent upgrades when it returns to the market to refinance debt.

The special district formed for the Walt Disney Company in Florida is to be dissolved under a new state law driven by Gov. Ron DeSantis.

How technology, data and transparency can aid in rough markets. Lynne Funk talks with Stephanie Sparvero of Bloomberg BVAL. (21 minutes)

Despite outsized volatility and liquidity challenges ahead, the possibility of relief for munis is not too far off, analysts say, but USTs lead the way for exempts.

Despite the pandemic, operating revenues increased 7.6% from 2019 to 2020 and 8.25% from 2020 to 2021.

S&P followed Fitch and Moody's in raising the state's ratings but the upgrades so far haven't halted the state's spread widening amid market turmoil.