News and Information from Bond Buyer

A third of states lost population in 2021, a trend that is likely to continue and one that will have significant impact on the way in which state finance officials operate in the years to come.

The nomination to the bistate agency comes as the long-stalled project could see its first infusion of federal funds.

April revenue collections set records in Southwest states as a strong economy and inflation boosted income and sales tax collections, although some officials are urging caution.

The Texas Natural Gas Securitization Finance Corporation picked a team of underwriters to sell debt for utilities hit hard during 2021’s Winter Storm Uri.

S&P followed Fitch and Moody's in raising the state's ratings but the upgrades so far haven't halted the state's spread widening amid market turmoil.

Munis again outperformed U.S. Treasuries. Participants note that municipal to Treasury ratios and nominal yield levels are “extremely attractive,” which is generating some renewed interest among the retail crowd.

Lawmakers and advocates of U.S. tax credits like tax-exempt debt aren't getting many answers from Treasury about an impending global tax regime that diminishes the value of the tax tools.

A national high-speed rail coalition penned a letter to the state's Democratic leaders saying allocating bond funds for the state's high-speed rail project would encourage federal support.

Chicago Mayor Lori Lightfoot chose a $1.7 billion proposal from Bally's over two rival plans as the city looks to casino gambling as a new source of revenue.

Shorter-dated and high-yield credit will be more likely to succeed in the current volatile environment.

“The racial wealth gap is wide and growing and we need innovative policies like Baby Bonds to begin addressing it right away," says Shira Markoff of Prosperity Now.

Wisconsin's debt manager Dave Erdman will make the leap to the private sector when he exits state employment after three decades.

A spending limit formula voters set in 1979, combined with surpluses in the tens of billions of dollars, put California lawmakers in a quandary.

Investors pulled more from municipal bond mutual funds in the latest week, with Refinitiv Lipper reporting $2.669 billion of outflows, though down from $2.875 billion of outflows in the previous week.

Illinois' latest upgrade is its fourth over the last year and moves its general obligation rating three notches away from the cusp of junk, where it once sat.

Analysts agree with Moody's that the island still faces financial risks.

The infrastructure package features $5.4 billion to fight wildfires. Issuers like California's Yuba Water Agency say the money is a game changer. 

The high court validated about $800 million of ratepayer-backed bonds to finance the recovery of fuel costs incurred by Oklahoma Gas and Electric Company (OG&E) during the February 2021 storm. 

The development could potentially affect the tax-exempt status of bonds issued for the school, though it will likely be resolved before that happens.

Outflows continue with the Investment Company Institute reporting $5.371 billion pulled from muni bond mutual funds in the week ending April 27. Exchange-traded funds saw inflows at $1 billion.