News and Information from Bond Buyer

Despite severe budget stress, the city and state can take some meaningful actions, such as reviving the restaurant industry, expanding the role of P3s and rebuilding multi-purpose infrastructure, analysts say.

Tom Kozlik from Hilltop Securities explores the effects of Washington variables such as political risk on states and localities. He also discusses rating agencies and muni disclosure. Paul Burton hosts.

The coronavirus has created such a massive disruption to the world’s stock markets that almost all California public employee defined-benefit pension plans will never recover. At a minimum, they must be put on a fiscal ventilator.

A stratified credit differentiation can be expected to linger for the foreseeable future until revenue streams in sales-tax and other project-backed bonds are more fully restored. Pension obligation bonds are back in California.

Florida’s attorneys cite flaws and errors in a special master’s report to support overturning its conclusions.

S&P cited the state's growing structural budget gap resulting from an oil price plunge.

Sales taxes are a pillar of the Texas state budget, and the usually stable revenue source has taken a hit from the COVID-19 pandemic.

The $500 billion SMART Fund would be divided equally into thirds based on population, COVID-19 cases and state revenue losses.

Mayor Eric Garcetti announced plans to furlough thousands of city employees because of coronavirus-driven shortfalls.

Fed officials also talk about the muni liquidity facility and efforts to help the economy in the wake of the COVID-19 pandemic.

Hard on the heels of last week's successful California sale, the municipal bond market will see some much needed supply head its way this week.

Bexar County Commissioner Justin Rodriguez will join Dallas Mayor Eric Johnson on Locke Lord's Texas public finance team.

Phil Murphy is developing an emergency borrowing plan to combat revenue loss amid the coronavirus pandemic.

While many new-issues are still on the day-to-day calendar for next week, more are being slated to price on specific days, signaling that dealers and issuers are ready to again test the primary.

Federal operating aid will help manage the Illinois Regional Transportation Authority's expected tax and farebox hits this year but storm clouds loom.

In a letter sent to the Fed Thursday night, House Financial Services Committee Chairwoman Maxine Waters said she wanted more issuers to participate in the Fed program.

Forecasts see contraction of 5.3% to 7.4% this year and recovery in 2021.

The MSRB's proposal to implement a more strict standard for public board members would impede the recruitment of qualified candidates, ICI said.

A complete disconnect between liquidity providers and seekers exposed the market’s inefficiencies: an asset class dominated by a limited investor base—retail investors—has grown increasingly concentrated.

In the wake of the COVID-19 pandemic, the city's budget shrinks by $6 billion.