News and Information from Bond Buyer

Cancellations due to fears of omicron are putting a damper on cruise bookings, says Fitch's Emma Griffith, who adds there is still a lot of pent-up demand.

Better communication will be key in future P3s, a top Maryland transportation official said.

Only one firm remained in the same spot they were at in 2020, while the rest of the rankings saw big shifts from a year prior.

The transition away from Libor presents challenges for small issuers with fewer resources to evaluate legacy contracts.

Triple-A benchmarks were cut two to six basis points across the curve with the largest moves concentrated again on bonds inside 10 years, underperforming Treasuries once again.

Virgin Islands Sen. Kurt Vialet said he expects the legislature to approve the refunding bill by Monday. The current bill does not include an interest rate cap that killed a refunding deal attempted in September 2020.

The Federal Highway Administration has acknowledged it lacks the authority to tell states how to spend federal infrastructure dollars, AASHTO said.

Schank, who will be a managing principal at the private consultancy, said he accomplished the goals he set when he moved to LA Metro seven years ago.

Gov. Tim Walz is pitching a record $2.7 billion capital bonding package and has proposals for the legislature about how to use a record $7.7 billion surplus.

Industry advocacy groups want uniform rules that enhance clarity and common understanding without adding complexity or liability.

John Hallacy of John Hallacy Consulting LLC sits down with Chip Barnett to talk about what the municipal bond market will face in 2022. He discusses inflation, new issuance volume, and the future of infrastructure this year amid the lingering effects of COVID and Omicron. (19 minutes)

Munis are expected to underperform for another few weeks as markets remain volatile and investors reevaluate allocations.

Craig Kahler, a public finance banker who specialized in school financings and served as head of his local school board, died after a month-long battle with COVID-19.

Illinois' nearly exhausted $1 billion of GO bonding authority for existing pension buyout programs would get a $1 billion infusion under pending legislation.

Enacting the muni market agenda through Build Back Better remains the top choice, but FY22 spending bills also present an opportunity, said the GFOA's lobbyist.

Acting director for the SEC Office of Municipal Securities Ernesto Lanza spoke about issuer disclosure and Rule 15c2-12, the Commission’s relationship with the MSRB and its efforts improving market transparency.

Timothy Little said he's looking for input from a diverse array of muni market participants in his new data-gathering role at the New York Federal Reserve.

Why are markets so sanguine about the interest rate outlook? The answer lies in the Fed’s balance sheet, and in particular the level of excess reserves placed there by commercial banks.

The Marshall Fire burned 6,000 acres in 24 hours and destroyed more than 1,000 homes in suburban Boulder County between Denver and Boulder.

The combination of steady supply, heavy secondary selling and inconsistent demand have moved yields to their highest levels since May 2020.