News and Information from Bond Buyer

"You would think global instability leads to flight for quality, but you also have the inflationary pressures that come with higher oil prices. I would say the inflationary pressures have been winning, and that's why you're seeing Treasury and muni rates move higher," said Keith Richard, head of public finance at Siebert Williams Shank.

The current lateral recruiting marketplace for public finance attorney talent is "highly competitive," according to Nixon Peabody's Julie Seymour.

The weakness in fixed-income markets comes after stocks and bonds saw strength Monday following President Donald Trump's announcement of a five-day pause on strikes on Iranian power plants amid talks between the two countries.

The AA-minus-rated bonds come to market as the hospital sector continues to navigate through rising expenses and other challenges.

"We are in interesting times as the market must now balance these robust technicals against a backdrop of geopolitical tension in the Middle East and the nomination of Kevin Warsh, whose hawkish reputation is already being weighed by participants," said Jason Wong, vice president of municipals at AmeriVet Securities.

Otero County's March 13 emergency meeting to avoid a bond default did not comply with the Open Meetings Act, the state's Justice Department determined.

"This is the largest flood we have had in 20 years," said Hawaii Gov. Josh Green.

Three rating agencies now have negative outlooks on New York City. 

"The secondary infrastructure demands [of data centers] will increasingly flow through to municipal balance sheets, driving incremental issuance across multiple sectors," said J.P. Morgan strategists.

A fatal crash and closure at New York's LaGuardia Airport adds to the list of transportation hurdles that includes a jump in jet fuel prices, and travel delays due to a lapse in TSA funding.

Federal Reserve Gov. Stephen Miran said it is too early to judge how U.S. involvement in the war with Iran will affect inflation and monetary policy.

Pennsylvania and New Jersey built up historically strong reserves. Unwilling to raise taxes, their governors want to tap these funds.

While it's unclear how long the war in the Middle East will drag on, once President Donald Trump announces an end to the war, things could change "on a dime," as happened with the tariff-induced volatility in April 2025, said Peter Block, managing director of credit strategy at Ramirez.

Nebraska Gov. Jim Pillen called on state lawmakers to act after the state's 2025-27 biennium budget bill fell short of a cloture vote on Thursday.

Nevada Treasurer Zach Conine is urging Congress to pass legislation for the automatic and timely refunding of "illegal tariffs."

Findings from The Bond Buyer's 2026 Predictions report predict funding crises in these market sectors will be a top worry for municipal finance pros.

As rising fuel prices make headlines, more states are eyeing suspending their gas tax rules while concerns rise about the beleaguered Highway Trust Fund.

"Looking at where oil was and the potential for disruption, and this being tax season and issuers having to pull deals, there's no reason why yields wouldn't have been higher," said Matt Fabian, president of Municipal Market Analytics.

Some states and local governments "went on spending sprees" with pandemic funds and "got ratings upgrades that didn't have a lot to do with fiscal management," said an investor.

"Everyone that is in this industry relies on our technology," CEO Mark Kim said Thursday at a BDA conference in Chicago.