City of Detroit,

No rate hikes in sight as employment continues to struggle and inflation should rise this year, but not enough to force the Fed to raise rates.

S&P Global Ratings raised Detroit's outlook to stable from negative on a BB-minus rating; Moody's affirmed the city at Ba3 with a positive outlook.

Former state Treasurer Jay Rising will take the helm of Detroit's finances next week, replacing Dave Massaron.

Michigan Gov. Gretchen Whitmer named Dave Massaron to replace Budget Director Chris Kolb, who is taking an administrative job at the University of Michigan.

The high-yield deal will mark the junk-rated city's third post-bankruptcy general obligation issue on its own credit, without any external support.

The fate of the state budget and ratings may depend on the progressive income tax ballot measure. Midwest voters also face $2.3 billion of bond measures Tuesday.

Detroit's public school system believes the city's stand-alone bond sales bode well for its future market access should it eventually seek to borrow.

Detroit's spreads widened from last deal in 2018 but interest rates were lower thanks to overall bond market conditions.

Municipals were a bit stronger on the long end Thursday as action heated up in the primary.

Detroit is selling $80 million of its speculative grade-rated GO paper with more on tap should voters sign off on $250 million of blight borrowing.

The Detroit City Council agreed to put Mayor Mike Duggan's revised $250 milliot bond proposal on the November ballot after nixing his original plan last year.

Revised plan addresses concerns the council had when it rejected the initial version in November.

S&P revised its outlook on Detroit's speculative grade rating to negative from stable Thursday as COVID-19 clouds the city's fiscal prospects.

The city faces the loss of $348 million of revenue because of the economic shutdown, threatening the balanced budgets it needs to avoid state intervention.

The city is projecting a $100 million deficit in its current budget once the public health crisis caused by COVID-19 eases, Mayor Mike Duggan said.

Moody's Investors Service revised its outlook on Detroit's general obligation bonds to positive from stable and affirmed its junk Ba3 rating.

Drawing the distinction between the region and the city helps the city provide better revenue projections going forward.

CFO Dave Massaron said the city is mindful of a potential downturn as it navigates its fiscal recovery from bankruptcy.

Chicago fared poorly in a Moody's report about the nation's largest cities and Illinois continues to stand out for budget stress and pension liabilities.

Michigan lawmakers are weighing bonds as an option for regional transit in the Detroit area.