State of California

Municipals were little changed as all eyes focused on the primary.

Municipal bonds finished steady on Friday ahead of next week's $7.8 billion new-issue slate while high-grade paper trades up in the secondary. Investors are looking for stability.

More will be clear once the state gets a full tally of receipts from the July 15 tax deadline, but a rocky road lies ahead in any case.

Long-dated municipals end strong as new supply hits the screens while taxable issuance continues its run to near-record levels.

Municipal bond prices remained steady as more supply hits the screens.

Despite the coronavirus wrecking havoc all over the world and with the brunt of the damage occurring in the second quarter of the year, municipal bond issuers have sold just over $23 billion more than they did at this time last year.

Municipals showed strength Tuesday in the face of new supply as long yields dipped as much as two basis points.

Municipals finished little changed ahead of this week's new-issue slate while retail investors are coming back into the market.

The municipal market saw a $40 billion-plus month for the second time this year, as issuers flooded the market with bond sales during the month of June.

Municipal bonds finished mostly steady on Friday ahead of a $7.2 billion holiday week new issue calendar.

The California Institute for Regenerative Medicine, which has been on life support for years, is expected to close if the measure fails.

California legislators met the letter of the law in passing the budget by Monday's deadline, but the state is a long way from a final spending plan.

Lawmakers have until June 15 to adopt a budget. Democratic leaders in the legislature have not embraced Gov. Gavin Newsom's proposed cuts.

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

California may need to use interfund borrowing to get its budget into balance, Gavin Newsom said.

California lawmakers have tough decisions ahead as they work to balance the budget, Gavin Newsom said in introducing the "May Revise" budget.

Depending on recovery, state's deficit could soar to $126 billion.

The U.S. Supreme Court is expected to hear oral arguments this fall in California v. Texas.

The state government, which was looking at multibillion-dollar surpluses before the coronavirus struck, is now facing a $54.3 billion of red ink.

The California Supreme Court will hold online oral arguments Tuesday in a public pension case that could challenge the so-called "California Rule."