Organization Root Tag

The upcoming Federal Open Market Committee meeting on Tuesday and Wednesday has led to a lighter new-issue calendar with $2.72 billion on tap.

The PFC bondholders are to get cash and some new appropriation-backed bonds.

The $53 billion Army Corps of Engineers plan is the largest of hundreds of coastal protection projects launched since Superstorm Sandy swamped the area in 2012.

The municipal market was a tale of two halves in fiscal 2022, the report says.

The MSRB will seek comment on Rule G-3 on professional qualifications that would add an exemption for muni advisors having to requalify in instances where their qualification had lapsed.

Increased use of third-party vendors by transportation issuers may be putting those entities at increased risk.

Municipal to UST ratios have risen this week with the 10-year approaching 90% and the 30-year topping 100%.

While only 29 city related pension plans in 2021 reported future fail dates for meeting retirement benefits, that number could worsen this year as investment returns tumble.

The influential financial advisory board has assembled a task force to sharpen terminology.

The bondholders say they are owed $8.3 billion of principal and billions more of unpaid interest.

Chicago, upgraded Friday by Fitch, will follow City Council's expected passage of a new 2023 budget next month with a new money general obligation bond issue.

As issuers push against a financial disclosure bill pending in the Senate, some buy-siders say standardized disclosure would attract more investors and boost liquidity.

Levels fell back to pre-pandemic levels, state comptroller Thomas DiNapoli said, "so the notion that it's crashing and it's all gloom-and-doom is not a fair observation."

The day after the FOMC announces its policy decision, Christian Scherrmann, U.S. Economist at DWS Group, will offer his take on the meeting, Fed Chair Powell's press conference and what comes next.

Municipal issuers are learning the ropes of ESG disclosure and marketing.

The workers say federal law bars the impairment of their wages.

In its analysis of primary market data from 2019 to 2021, the MSRB showed that market participants fled competitive offerings during the COVID period and preferred private placements.

Treasury Secretary Janet Yellen said that while the U.S. financial system remains resilient, the current backdrop has created the conditions where risks to its stability could appear.

The upgrade reflects the city's improving pension funding practices, commitment to a sound reserve position and ability to institute structural budget measures, Fitch said.

"It should at least be something we're considering at this point, but the data haven't been cooperating," Daly said Friday.