Midwest

Chicago's preliminary projected gap in the next budget, when Mayor Lori Lightfoot has vowed to reach structural balance, is down from an $867 million estimate.

Illinois' spread penalties widened sharply from the state's last deal, but they landed in lockstep with current trading levels as the state saw healthy demand for its $1.6 billion GO issue.

Investors pulled $7.270 billion from muni bond mutual funds in the week ending May 11, per ICI data, while exchange-traded funds saw $1.756 billion of inflows, the fourth week of record inflows.

SWS has launched a specialty higher education sector group that will be led by Julia Harris from the firm's Chicago office.

St. Louis County will take competitive bids on the $114 million issue Wednesday, amid concerns about rising construction costs for the project.

Commercial PACE loans facilitated through the Illinois Finance Authority and Cook County supported hotels, a historic theater, an indoor vertical farm, and rental kitchens.

Deep-in-the-red municipal returns are not helping assuage investor concerns, creating a negative feedback loop that has yet to see a pause.

FHN Financial Capital Markets hired Rene Moreno to establish a banking presence in Arizona while Melanie Shaker will launch the firm's new Midwest effort.

ProMedica's senior living division has suffered deep pandemic-related fiscal wounds while its hospitals' recovery was set back by the Omicron variant.

Despite compelling yields and ratios, buyers continue to be selective. Even if rates stabilize, municipal investors will likely be cautious for some time, waiting for fund outflows to abate, strategists said.