News and Information from Bond Buyer

The Federal Reserve's Summary of Economic Projections forecasts inflation won't hit its 2% target next year, and others agree.

City officials say the continuation of enhanced taxing authority from Pennsylvania will help it refinance debt and avoid another fiscal cliff.

State and local governments are going to need generous lines of credit to get through the next few months. Joe Biden has an opportunity to act by rethinking the Municipal Liquidity Facility at the Federal Reserve.

The toll road operator parters with three international investors to sell half of its U.S. express lane assets in Northern Virginia while eyeing additional highway projects around nation's capital, including a Maryland P3.

Illinois closed Thursday on its second MLF borrowing as the program nears its expiration date.

Chicago's CFO turned to short-term borrowing to see whether the federal government comes through with aid to make up for the COVID-19 pandemic's tax blows.

The California Deputy Treasurer Tim Schaefer accepts on behalf of the California Health Facilities Financing Authority, which was recognized for its $500 million issuance under the “No Place Like Home” program, which will build housing for the homeless.

The entire municipal exempt yield curve is seeing consolidation with a 125 basis point spread between one and 30 years, and sub-1% yields are holding firm inside of 15 years.

The state will repay borrowing by the Michigan Strategic Fund to cover its $600 million preliminary settlement over the Flint water contamination crisis.

Senate Majority Leader Mitch McConnell suggested state and local governments would use stimulus to shore up pension plans.

The high-yield deal will mark the junk-rated city's third post-bankruptcy general obligation issue on its own credit, without any external support.

The state Supreme Court declined to hear the case, ending a fiscal and legal dispute with the basketball team that left for San Francisco last year.

The Deal of the Year awards, presented Wednesday, recognize innovation in municipal finance and this year's nominees had to deal with the COVID-19 pandemic in addition to other challenges.

The Federal Reserve Bank of Philadelphia's manufacturing index fell to a seventh- month low, while jobless claims hit a three-month high.

FINRA announced the settlement this week, in which RBC agreed to a censure while neither admitting nor denying FINRA’s findings that it violated Municipal Securities Rulemaking Board Rule G-27 on supervision. RBC was not fined.

Michael Ruvo, president and CEO of BondWave, talks about how he thinks technology changes — and the data that enables those changes — will help with market transparency and make for a more efficient market overall. Lynne Funk hosts. (21 minutes). Recorded Dec. 4.

Its $17 billion operating plan projects $4.5 billion in Washington assistance next year while sidestepping — for now — doomsday service cuts and layoffs.

This was the inaugural issuance under the “No Place Like Home” program, the first large municipal bond program created to invest in homeless housing infrastructure and secured directly by taxes on high-income residents.

The Federal Open Market Committee announcement commits it to buying at least $120 billion of securities a month until “substantial further progress” is made on its dual mandate of stable prices and maximum employment, suggesting it will continue well into 2022.

AAPA contends Congress should provide aid to ports as the industry has been hammered by COVID-19.