News and Information from Bond Buyer

The constitutionality of a state law that threatens outstanding bonds issued for a detention facility is being challenged by the U.S. Department of Justice.

"I think any effort to make reporting less frequent is a step backwards in transparency," NFMA's Mary Francoeur said.

New findings from The Bond Buyer show that outside of advisors and broker-dealers, appetites for risk decreased to a greater degree than they increased.

The mayor's plan to balance the fiscal 2027 budget relies heavily on proposed revenue-raising moves involving the combined utility system enterprise fund.

The muni market continued to shrug off volatility in Treasuries, but NewSquare Capital's Kim Olsan said a reaction is building up.

The Supreme Court decision that changes the provisions in the Voting Rights Act adds legal risk for state and local governments.

The local government is seeking to replace LUMA Energy as the island's transmission and distribution company.

"I don't mind owning a railroad for $2.4 billion," said Assured CEO Dominic Frederico.

Northwest Nazarene University, an Idaho private Christian college, had its ratings outlook revised to positive.

Munis should do "relatively well" this month, as investors will "focus on heavy summer redemptions; tax-exempt supply should remain healthy but is unlikely to overwhelm," said Barclays strategists.

Market Intelligence analyst Jeff Lipton distinguishes impairment from default in unenhanced conduit multifamily credits and explains how occupancy declines, covenant breaches and reserve draws can trigger severe price discovery long before a payment miss occurs.

The Manhattan-based Ivy League university reached a settlement with the federal government last year. It is selling $487 million of bonds this month.

"The rates market has started to turn from the upper end of the trading range this week," Barclays strategists wrote, but with the war with Iran still driving the market, nothing is certain.

Public finance professionals need to contemplate uncertainty as they work with municipal issuers to help them plan and meet their needs.

Changes in federal funding are sharpening the focus on how the states will be responding to disaster relief, running social programs and budget planning.

The defendants include many of the largest municipal bond underwriters.

The deal comes as high-yield muni investors are hungry for paper.

Nearly 21% of muni volume traded electronically in the first quarter, up from the previous quarter and surpassing the previous record set in the fourth quarter of 2023, according to a Coalition Greenwich report by Kevin McPartland and Neha Jain.

New research from The Bond Buyer finds the federal policy environment once again threatens the tax-exempt status for municipal bonds.

Mayor Karen Bass introduced a multi-year comprehensive plan, saying it is a first for a city that for too long had a fragmented approach to infrastructure.