News and Information from Bond Buyer

The long-discussed pieces of the budget — a "pied-à-terre" tax, climate law changes, and higher education spending — have finally come together. 

Reason's latest transportation finance report lays out barriers to U.S. pension funds investing in infrastructure and the P3 pipeline.

Primary market muni supply year-to-date is at $235.028 billion, up 4.3% year-over-year, according to LSEG.

Maryland drops Moodys a year after the ratings agency downgraded its credit as the state preps for a major bond sale this week.

"When FINRA and MSRB rules which cover similar functions differ in their application, it raises compliance costs for dealers and raises the risk of inadvertent noncompliance," the Bond Dealers of America said in its letter.

This week will see continued stability, given the recent bumps on deals in the primary market last week and the lack of negative headlines about the war with Iran, said Elaine Brennan, executive director of the public finance department at Roosevelt & Cross.

The New York Convention Center Development Corporation is coming to market for the first time in more than a year, with bonds backed by a hotel surcharge.

The muni market is experiencing "some short-term optimism," said Hilltop Securities' Tom Kozlik, but there are still "pressures that could potentially be with us for not just weeks, but months."

The Trump administration and several states are leaning into public private partnerships as the idea of inviting private investment into public infrastructure gains more acceptance.

Supporters of a proposed Major League Baseball expansion team in Sacramento announced funding plans during a Thursday press briefing.

Research from The Bond Buyer finds that political will is the strongest impediment or asset to the growth of P3 activity across the U.S.

Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she believes price growth is still heading toward the central bank's 2% target when factoring out one-time shocks such as tariffs and elevated oil prices.

A surge in tax revenue driven by AI-related companies masks a persistent structural budget deficit, the Legislative Analyst's Office warned.

Markets grew stronger upon news of the extended ceasfire in Iran, but the reaction was less pronounced than Tuesday's rally.

The counties with the greatest exposure lie along the coasts of Florida, Louisiana, South Carolina and Texas.

The bill promote private capital and public-private partnerships as part of the financing process.

The Maryland Economic Development Corporation and the Internal Revenue Service have reached a resolution in a tax squabble over a bond issuance where proceeds of the sale were not spent within a three-year time window.

June redemptions are $44.4 billion. July and August will see $37.7 billion and $38.4 billion returned, respectively, said Pat Luby, head of municipal strategy at CreditSights.

Market Intelligence analyst Jeff Lipton explains why energy prepays have become a popular SMA allocation for yield and diversification, while warning that financial institution counterparty concerns and "guilt-by-association" bank headlines can still trigger episodic spread widening.

Photos from The Bond Buyer's Southeast Public Finance conference.