News and Information from Bond Buyer

The conventional wisdom has been that clients should keep six to 12 months of living expenses in cash in case of job loss or another unexpected event. While that is sound advice, in the age of COVID-19, this may no longer be enough.

Lisa Daglian, executive director of the Permanent Citizens Advisory Committee to the MTA, and MTA board member Andrew Albert say supporting mass transit is the best way to rejuvenate the economy in New York and nationally. Paul Burton hosts. (27 minutes)

The system took two rating hits over its rising debt levels and strained balance sheet metrics as it readies a $354 million borrowing.

S&P issued a bulletin Monday warning that pressure is mounting on Illinois' BBB-minus rating —the lowest investment grade — as federal relief remains stalled.

Rates remain stagnant even as UST rallied Monday. Large deals from NYC and Texas issuers are on deck for Tuesday.

The aid includes $9.6 billion for the Puerto Rico Electric Power Authority to repair and rebuild the electrical grid and $2 billion for the Puerto Rico Department of Education.

Facing a revenue disruption over next two years, the Harris County-Houston Sports Authority will ease cash flow pressure with a $100 million refunding.

A $3.3 billion budget proposal from County Executive Laura Curran hinges on refinancing outstanding bonds through triple-A-rated Nassau Interim Finance Authority.

Moody's rates the corporation's current bonds junk-level Caa2 and Caa3, but Kroll has given the new, rum-revenue-backed bonds an investment grade BBB rating.

The Fed has been chasing its 2% inflation goal since 2012 and has yet to even come close to reaching it, thanks in part, to technology and globalization.

Investment banker Suzanne Shank and professor Michael Barr to serve on its Board of Trustees.

Global investment firm expands ETF suite to boost yield, liquidity, and diversification opportunities.

Feeling the revenue hit from the coronavirus, the commission has received state approval for a second delay in $112.5 million quarterly transit payments.

These public finance supporters in both chambers of Congress include Democrats from Massachusetts, Maryland, and Alabama and Republicans from Mississippi, Ohio, and Texas.

Ten key Washington lawmakers on both sides of the political aisle are expected to play an important role in helping the public finance sector in the coming months.

Treasurer Shawn Wooden, the country's only Black elected state treasurer, spoke about diversity and inclusion to the Northeast Women in Public Finance.

On Friday, municipals finished little changed, with yields remaining steady along most of the AAA GO scales.

Proposition 15 would detach commercial real estate from California's cap on property assessment increases.

The U.S. current account deficit widened to $170.5 billion in the second quarter from a revised $111.5 billion gap in the previous quarter, data released Friday by the Commerce Department showed.

The deal struck by Gov. Phil Murphy to increase marginal rates on income over $1 million is not expected to make a material difference to the state deficit.