Midwest

Munis firmed Friday, only the second time in December they weren't flat, and more than a few participants are waiting on yields to rise before getting involved, particularly given the rich muni/treasury ratios and low absolute yields.

The state attorney general is asking the court to clarify the legal standard for denying taxpayer actions and decide if the state constitution limits GO borrowing to capital purposes.

The $5.35 billion transaction being recognized by The Bond Buyer as Midwest Deal of the Year met a series of state goals.

Deep bondholder losses are expected when the bonds issued for five Better Housing Foundation portfolios in and around Chicago emerge from Chapter 11.

Twin Cities International School and MIMCS Building Company announced the reversal in a public notice filed Monday.

Forecasters now expect a $641 million surplus this year and a much smaller than previously projected $1.3 billion gap in the next two-year budget cycle.

Fitch says the bond-financed settlement provides certainty and leaves the state's reserves intact, which puts the state on sound footing to manage the uncertainties with the coronavirus.

Munis are likely to lag Treasuries in some fashion once year-end empathy settles in mid-month and ratios become a factor.

Modest revenue growth is projected over the course of the biennium that begins July 1, but “unprecedented volatility” because of the pandemic remains a concern.

The budget cleared the Chicago City Council Tuesday. Rating agency and buy side reviews on the final plan will come next.