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.