State of California

The onslaught of new-issuance and approaching month- and quarter-end led triple-A yields to rise up to seven basis points on the short end and as much as three to five elsewhere along the curve, despite stronger U.S. Treasuries. Short ratios rose as a result.

This week's new-issue calendar grows and includes some "common benchmark names like CA GO, NYC GO, and WA GO," Birch Creek strategists said.

The extraordinary redemptions being used to call Build America Bonds "are based on a creative but flawed legal argument driven by the current change in interest rates," said Kramer Levin partner Amy Caton.

California State Controller Malia Cohen says her office will get the release of the state's ACFR back on track within two years.

Justin Cooper, Orrick's co-head of public finance, breaks down how states like Oregon, Washington and California are funding efforts to lessen their affordable housing and homelessness crises. Keeley Webster hosts (24 minutes)

The flooding and massive storms that hit California in early 2023 that resulted in delays to income tax filings have led to lawmakers having to grapple with a $68 billion shortfall heading into the fiscal 2024 budget year.

City Attorney Michael Gates said he will appeal the case to the Ninth Circuit Court of Appeals.

A group of former California Democratic lawmakers oppose efforts by current Democratic lawmakers to block a voter tax initiative from the ballot.

Bond Buyer Senior Reporter Keeley Webster shares an interview with California Treasurer Fiona Ma on her run for lieutenant governor as a prelude to a fireside chat Wells Fargo Director Julia Kim conducted with the state treasurer at The Bond Buyer's California Public Finance conference.

California Gov. Gavin Newsom said the $202 million grant signals the Biden administration's commitment to "clean, electrified high-speed rail into the heart of some of the largest and fastest growing cities in California."

State Controller Malia Cohen said she stepped up to help draft audit guidelines following a charter school fraud case that cost the state $400 million.

The procurement method fosters collaboration and allows flexibility to manage construction costs, proponents say.

California State Treasurer Fiona Ma announced the hiring of two new Stephanie Tom and Khaim Morton as deputy state treasurers.

The ruling striking down affirmative action may bring a fresh headwind to the higher education space, which already faces soft enrollment trends.

Facing revenue shortfalls, funding for Gov. Gavin Newsom's zero-emission efforts had been put on a waiting list.

Moody's boosted CalHFA's rating to Aa2, following a similar move by S&P in December.

The negative rating outlook comes less than a week after Gov. Gavin Newsom announced a budget shortfall of $31.5 billion.

The state seeks "long-term stable funding" to advance the nation's largest infrastructure project, which remains in slow motion after almost 15 years.

With strong reserve levels, states will be able to weather a revenue shortage this year, analysts said.

State and local governments across the country are making increased efforts to put money forward for the purpose of reparations.