News and Information from Bond Buyer

A substantial drop in new money volume sets California and the Far West apart from the the country.

Inflows continued with the Investment Company Institute reporting investors added $2.194 billion to mutual funds in the week ending Feb. 8, after $1.471 billion of inflows the previous week.

"The board's arguments are bad for the future of infrastructure financing in the United States," Oversight Board member Justin Peterson said.

Spending on climate proofing infrastructure and other green capital developments increased 68% while overall volume tumbled 13% in the region.

Fitch Ratings received enough inquiries over S&P's action — slashing a Chicago suburb's GO rating by seven notches — that it put out a special commentary outlining differences between the two agencies' analytical approach even though Fitch does not rate the village under scrutiny.

"We urge you to use rescue plan money to make your community safer," Biden said. "Invest in affordable housing, get small businesses back on their feet, train your workforce." 

FINRA fined Quint Capital Corporation $35,000 and its founder Alexander Quint $10,000 over their role in allowing a broker banned by the SEC and FINRA to work for the firm.

Spline's curves are offered in a variety of configurations, including by rating, source of payback, and trade size, and are updated every five minutes.

Rating analysts said dropping reserves to 0.25% from 5% to free up capacity does not impact the school bond guarantee program's triple-A ratings.

The Chamber of Commerce added Sen. Nancy Skinner's bill codifying the governor's proposal on oil companies to its 2023 job killer list.

Maurice "Mossie" Murphy Jr. died after a three-year battle with cancer.

"Markets were expecting (hoping, praying) to get further confirmation that a peak is in and the decline is at least steady, if not accelerating," said Jan Szilagyi, CEO and co-founder of Toggle AI.

Detroit raised its fiscal 2023 and 2024 revenue projections but is proceeding with caution as a potential recession could put a dent in collections and pressures loom as pension payments resume.

The board says the Ad Hoc Group of PREPA bondholders wrongly focused on "confirmation" issues in their attack on the board's proposed disclosure.

Midwest borrowing last year went from 11% year-over-year growth in the first quarter to a 48% plunge in the fourth quarter.

The jump signals a big pipeline of projects on the horizon.

The demographics of the public-sector workforce are likely to change, even as many state and local governments consider increasing wages and improving other benefits to attract and retain employees.

O'Connor was nominated by Treasurer Fiona Ma for her work on a trust fund program for foster kids and another that finances green P3s.

Julie Burger and Mark Burns will report to Chuck Peck, while Peter Cannava, current head of public finance, will become leader of multifamily capital in Wells Fargo's commercial real estate group.

February municipal bond activity compared to last month is brisk yet more finicky in the face of an ongoing supply shortage, according to Jeff Lipton, head of municipal credit and market strategy and municipal capital markets at Oppenheimer & Co.