Markets

Bills to expand the use of tax-advantaged bonds that are being reintroduced in the new Congress have favorable odds for being signed into law this year.

Taxable deals and refinancings fueled the 2020 volume spike as issuers adjusted to the coronavirus. The pandemic still looms over 2021.

S&P said the proposed budget represents a step in the right direction but it will weigh the final budget and other developments before acting on its BBB-minus rating.

Municipal bond mutual funds took notice of rate movements with Refinitiv Lipper reporting $37 million of inflows after 15 weeks of multi-billion inflows, the lowest since Dec. 2. High-yield funds took a big hit with $330 million of outflows.

BATA brings a refunding deal to market next week, buoyed by a financial position that stood up to the stresses of the COVID-19 pandemic.

In a wide-ranging conversation, Manulife Investment Management Global Chief Economist & Global Head of Macroeconomic Strategy Frances Donald discusses the COVID pandemic, inflation, how the markets may be misreading the Fed, why economic indicators may not be telling economists what they need to know, ESG and green spending, and the economy. Gary Siegel hosts. (35 minutes)

The deal was the largest in the authority’s history, with the lowest ever interest rate for one of its sales and netting a record-breaking $112 million in interest cost savings.

Global bond yield move suggests financial markets are much more optimistic about the economy than the Fed.

The governor wants the first full actuarial contribution in 25 years, spurring discussion about what else one of the nation's lowest-rated states should do.

Moody's affirmed the state's general obligation bonds at Aa3, and credited it with significant long-term progress in restoring financial reserves and liquidity.