State of Florida

Municipals were weaker on Friday, with yields on the long end finishing out the day up one basis point. Since Aug. 12, when the muni market correction began and yields moved off record low levels, the yield on 10-year muni has risen by 23 basis points while the 30-year yield is up 29 basis points, according to Refinitiv MMD.

State economists project Florida will lose $5.4 billion of general revenues over the next two years, partly from reduced sales and lack of tourism.

The Florida Department of Transportation continues litigation in an attempt to terminate the Miami-Dade County Expressway Authority.

Florida and Georgia have spent tens of millions of dollars in litigation over water rights in the case before the U.S. Supreme Court.

Florida TaxWatch and environmentalists are urging Florida lawmakers to stop planning for the Suncoast Connector and others before millions are spent.

State revenues for fiscal 2020 came in 5.7% lower than Florida forecasters anticipated because of business disruptions caused by the COVID-19 pandemic.

A new law allows state agency Space Florida to sell revenue bonds for private aerospace firms without requiring approvals from the state governor or cabinet.

A scaled down 2021 fiscal year spending plan signed by Florida Gov. Ron DeSantis will likely need further cuts to withstand potential revenue losses resulting from the ongoing COVID-19 pandemic, according to analysts.

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.

The Sunshine State plans to build a statewide network of electric vehicle charging stations to cut down on carbon dioxide emissions from gas-fueled cars.