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They say there are at least six different novel or unsettled questions of law that would be clarified by an appeals court ruling.

"What are our options? You either pick these banks or you don't. If you don't, business shuts down. We stop building infrastructure," said state Treasurer John Schroder, the bond commission chair.

The parties haven't been engaging in mediation, angering Judge Swain.

Still no clarity as the banking crisis adds to the difficulty of predicting an economy still feeling COVID impacts and uncertainty about the prospects for a recession.

How $5.7 billion will be divided among creditors remains to be figured out.

Chicago outgoing mayor offered a parting shot against pending state legislation that stands to add to city pension costs, but sponsors say the fix was promised and is needed to avoid violating federal rules.

Proceeds will be used to refund some bonds that had been issued to finance or refinance eligible clean water and drinking water projects in the state.

The Florida Legislature has passed a law that bans the issuance of municipal bonds, such as green bonds that use environmental, social or governance criteria. The bill now heads to Gov. Ron DeSantis for his signature.

The proposed budget would add 400 more police officers and spend $1.3 billion on programs to ease homelessness.

The MSRB's upcoming board meeting on will focus on time of trade reporting, amendments to Rules G-47 on time of trade disclosures and D-15 on sophisticated municipal market professionals.

Chicago's fiscal forecast has brightened and near-term surpluses should go to cover supplemental pension contributions and into reserves, Mayor Lori Lightfoot said as she prepares to hand the reins of city government to Mayor-elect Brandon Johnson

"Florida may have the statutory authority to abrogate an agreement, but  what does that say for things going forward?" asks Joseph Krist, publisher of Muni Credit News. "Why couldn't an anti-development administration do the same thing in reverse to somewhere like the Villages?"

The Oversight Board, the Fiscal Agency and Financial Advisory Authority, and fuel line lenders filed separate objections to the bondholders' request, arguing it would further complicate PREPA's plan of adjustment.

A heated hearing was preceded by letters to the House Financial Services Committee that gave muni advocates a chance to weigh in on regulatory concerns.

The MSRB's proposed amendments to Rule G-47 on time of trade disclosures codifies existing guidance and is being welcomed by dealer groups despite some minor objections.

Federal Reserve Bank of St. Louis President James Bullard said he favored continued interest-rate hikes to counter persistent inflation, while recession fears are overblown.

Richmond Federal Reserve Bank President Thomas Barkin said he wants to see more evidence that U.S. inflation is easing back to the central bank's goal of 2%.

Participants in the Texas municipal market raised concerns over bills that would constrain debt issuance.

S&P raised Massachusetts' general obligation long-term credit rating to AA-plus from AA.

Federal Reserve Governor Christopher Waller said he favored more monetary policy tightening to reduce persistently high inflation, although he said he was prepared to adjust his stance if needed if credit tightens more than expected.