News and Information from Bond Buyer

As GFOA's new president, she intends to work to address staffing shortages and bring GFOA members together.

Puerto Rico must take additional steps to be able to regain market access, they said.

High inflation and high costs for construction and borrowing add to a strained labor market complicating some planned municipal issuances.

Kroll Bond Rating Agency upgraded Connecticut's general obligation bonds to AA-plus, citing improved finances and a recent package of fiscal guardrails.

With a healthy surplus built over several years, the state adopted a series of tax relief measures. Those actions, along with robust growth in fiscal 2022 that triggered an automatic tax cut, are driving revenue projections lower.

For the week, triple-A muni yields rose between 11 and 29 basis points, according to MMD, while UST yields rose 11 to 32 basis points.

The Biden Administration has partnered with five cities and the State of California in efforts to reduce homelessness.

Terri Velasquez ends her term as GFOA president, reflecting on her year leading the group.

The negative rating outlook comes less than a week after Gov. Gavin Newsom announced a budget shortfall of $31.5 billion.

With hotel taxes unlikely to keep pace with debt service , the Illinois Sports Facilities Authority is eyeing a restructuring to extend final bond maturity.

"Steep corrections occurring inside 10 years on the curve reflect an ongoing process to reduce a deep inversion," said Kim Olsan, senior vice president of municipal bond trading.

The exchange-traded fund — the first ever triple tax-exempt — will consist of 80% Puerto Rico bonds with the balance being U.S. Virgin Islands and Guam bonds.

The complexity of tapping infrastructure funds has spurred the National League of Cities towards developing workshops and tools to help municipalities navigate the maze.

Amid rising construction costs and supply chain shortfalls, some California school bond projects are being redesigned, accelerated or delayed.

Brightline's luxury train in Florida accounts for half of the Nuveen High Yield Municipal Bond Fund's top 10 positions.

Panelists at the 2023 NFMA Annual Conference described the increasing costs and associated problems issuers will face in ensuring their communities maintain clean water.

The CTA is looking for the state to boost operating funds to help solve a looming $400 million annual shortfall.

Fernandez was a veteran municipal bond attorney who spent nearly 67 years at Hawkins, Delafield & Wood LLP before his retirement in 2017.

The Investment Company Institute reported investors pulled another $290 million out of municipal bond mutual funds in the week ending May 10.

Panelists at the National Federation of Municipal Analysts discussed their experiences dealing with resiliency in the face of budgetary and environmental problems.