Organization Root Tag

According to the board, the addition is an important means to enhance market transparency and is in line with its FY24 priority to expand the EMMA platform.

The Philadelphia Fed president said there can be as few as no cuts or as many as two this year, but if his projections are accurate, one decrease would be appropriate this year.

"We need to see more evidence to convince us that inflation is well on our way back down to 2%," Federal Reserve Bank of Minneapolis President Neel Kashkari said.

Laura Allen, former president of the Government Finance Officers Association, hands the baton off to Tanya Garost at a time when the group is taking new steps to recruit and engage with its members.

"I think the risks to inflation are still on the upside," Federal Reserve Bank of Cleveland President Loretta Mester said. "I think the risk to the labor market is dual-sided."

Louis English joined Janney Montgomery Scott as managing director and head of municipal sales in the fixed-income division, based out of the Chicago office.

Observers and participants said the ruling sends a message that the municipal revenue bond pledge is strong and the Oversight Board's plan of adjustment for PREPA as it currently is proposed is unlikely to be able to stand.

The spending plan for the fiscal year that begins July 1 contains no tax increases or new fees and puts off finding a recurring solution for a structural budget gap.

Oversight Board Executive Director Robert Mujica said the only recently released fiscal 2022 ACFR showed revenues and expenditures continue to be imbalanced.

Household ownership of munis — which includes direct ownership of individual bonds in brokerage accounts, fee-based advisory accounts and SMAs — rose to $1.779 trillion, up 0.3% from Q4 2023 and from 5.6% in Q1 2023.

Judges say PREPA bondholders have a lien on net revenues collected post-bankruptcy.

"It is important to remember that as long as the Fed's next move is to lower policy rates, bonds will do well," said Jack McIntyre, portfolio manager at Brandywine Global. "The employment market is in better balance, which is very important for the Fed — even more than inflation."

The bonds are part of a proposed settlement with the city's firefighters union that would need court approval.

"We will remain cautious until CPI and the FOMC are in the rear-view mirror and as long as these don't catalyze a sell-off (since that would trigger outflows) or catalyze a sharp rally (as municipals lag rates during a sharp rally and ratios can increase optically) ... " said Vikram Rai, head of municipal markets strategy at Wells Fargo.

New rules finalized by the Securities and Exchange Commission aim to bring dealer supervision up to the new standards of remote work but only address part of the problem

With no change in rates expected, analysts are interested in the dot plot and Fed Chair Jerome Powell's press conference.

Even after paring down the capital plan, the MTA will need to issue debt, and sooner than planned. It will be issued under the MTA's transportation revenue credit rather than its congestion pricing credit, so near-term debt service costs will be higher, CEO Janno Lieber said.

Many issuers are trying to understand rating agency methodology changes that could affect more than a third of them.

The use of unregistered municipal advisors in the public-private partnership sector can lead to unnecessarily expensive deals for cities and states, said SEC's Dave Sanchez.

Her abrupt suspension of the tolling plan for Lower Manhattan leaves a $15 billion hole in the Metropolitan Transportation Authority's capital budget.