News and Information from Bond Buyer

All eyes will be on the next surface transportation bill, which the House plans to unveil in early 2026.

The New York State Thruway Authority's $848 million refunding features a voluntary tender process.

The muni bond market stands at an "inflection point," said Nuveen strategists in a 2026 market outlook.

An election year for Congress adds a deadline clock to questions about budget reconciliation, tax policy, and politics while bond issuers ponder challenges and opportunities.

Klavan, who previously worked at Squire Patton Boggs, has represented governmental, conduit borrower, and underwriter clients on a wide range of projects.

Analyst remain positive about the economic outlook next year, although some have reservations and volatility is possible.

Washington Gov. Bob Ferguson unveiled a supplemental budget with GOP-opposed bond plans, as he preps a rain-soaked and flood-damaged state for more deluges.

"A stagnant yield curve is resulting from supply having wound down and munis drawing steadiness from a likewise calm UST market," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

The municipal advisor area "remains a heavy focus of both the commission's Division of Examinations as well as the Division of Enforcement," Andrew Kintzinger, counsel at Hunton Andrews Kurth, said.

Chicago's city council passed its alternative budget over the weekend. Mayor Brandon Johnson hates it, but said he would not veto it.

Moody's Ratings upgraded the Chicago Transit Authority to Aa3 from A1 Friday, and upgraded the Chicago-area Regional Transportation Authority to Aa2 from Aa3.

The Northeast's offshore wind projects are battling to keep building again after the Trump adminstration cited national security to pause five leases.

It was a "confusing, volatile year, and the states face growing threats in 2026 and thereafter," said Matt Fabian, president of Municipal Market Analytics.

State tax policy is playing a role in the location of data centers which have turned into a lightning rod attracting debt financing, local opposition, and federal involvement.

The Kansas City Chiefs will leave Missouri for Kansas, where sales tax and revenue bonds will help finance a $3 billion domed stadium expected to open in 2031.

Unless there is a massive selloff in the next two weeks, there will not be a major spike in market participants using tax-loss harvesting through year-end, said Ben Barber, director of municipal bonds at Franklin Templeton.

Credit pressures are expected to persist for municipal bond issuers facing water scarcity and increasing costs for projects to produce new supply.

Following the September/October rally, munis have been relatively steady in November and December, with direction and magnitude of rate change in the UST market driving underperformance or outperformance, said J.P. Morgan strategists led by Peter DeGroot.

The approved rates will go into effect on Jan. 1.

The governor announced $2.1 billion for road and bridge maintenance and flood repairs, financed with bonds backed by revenue measures in last year's budget.