Southwest

Texas is fighting the federal government on an expanding front as Gov. Greg Abbott challenges the authority of President Biden on issues of health, civil rights and security.

Despite two COVID-19 waves and a crippling winter freeze, Texas general revenue was up 6.2% for the year that ended Aug. 31.

Some issuers may have taken their eyes off of arbitrage risk, but advisors are still taking that tax-exempt compliance job seriously.

The fast-growing Texas capital was downgraded by Fitch Ratings ahead of a $328 million bond sale that is expected to price in September.

Municipal issuers with the biggest threats from physical climate risk also have the largest liabilities for carbon transition.

The trouble stems from a West Virginia tender offer deal Crews & Associates recommended to an issuer.

Municipal bond volume in the Southwest region increased in the first half of 2021 as its seven other states more than made up for a decline in Texas.

The taxable bonds will reduce the unfunded actuarial liability of, and employer contribution rates to, the Kansas Public Employees Retirement System.

Municipals are tethered to Treasuries, more so in recent sessions, and have cheapened, but strong technicals — $18.5 billion of net negative supply and large reinvestment needs — still hang overhead.

The forthcoming Texas law bans businesses from state contracts if their policies are said to discriminate against the firearms industry.