News and Information from Bond Buyer

Judge Swain also allowed Debt Recovery Authority bondholders efforts to protect their collateral to continue.

With all eyes on Friday’s employment report, since several additional strong months of gains are needed for the Federal Reserve to be comfortable announcing a tapering of its asset purchases, Wednesday’s news could signal trouble.

Mayor Mike Duggan dodged what he considered a $2 billion fiscal bullet in the form of charter revisions as he heads to a November run-off seeking a third term

“Kentucky’s economy is on fire,” says Gov. Andy Beshear, after the state passed the $2.2 billion mark of total planned private-sector investment this year. But COVID's Delta lurks.

The board will have 15 members for its fiscal year starting Oct. 1.

Effective spread data yielded interesting results about the way corporate and municipal bonds were treated by Fed backstop programs.

The rating agency also affirmed the ratings on 18 large airports and major airline hub facilities across the United States.

Pitfalls loom despite improved bond ratings and an improving fiscal picture, according to members of the state's fiscal control board.

A compendium of changes in the municipal industry.

Tighter bidding on bonds 10 years and in pushed high-grade benchmark curves to bump yields.

Illinois' single-employer pension plans are straining the budgets and ratings of those local governments without the tax base, flexiblity, and fiscal discipline to tackle rising costs, S&P says in a special report.

Sales tax collections in July reflected a strong economy, surpassing that of the same month pre-pandemic.

New York's governor denied allegations by state Attorney General Letitia James' office that he engaged in unwanted groping and comments of a sexual nature.

The Michigan Supreme Court sided mostly with the state in a dispute over whether it was meeting local funding obligations under the Headlee Amendment.

The board decided last month it would seek commission approval to tweak rules related to mandatory disclosures.

Joe Kalish, chief global macro strategist at Ned Davis Research, discusses his thoughts on when the Federal Reserve will announce it will cut back on its asset purchases, the possibility of Chair Jerome Powell’s re-nomination and what to expect from the Jackson Hole summit. Gary Siegel hosts (27 minutes)

A municipal analyst for 43 years, Baker was head of MAGNY in 1993 and NFMA in 1997.

Municipals returned 0.83% in July with a year-to-date return of 1.90%. High-yield returned 1.20% in July and 7.40% year-to-date. Taxables led July with 1.65% returns and 1.95% for the year.

The board recommended federal policymakers talk with Puerto Rico’s government about ways to increase pharmaceutical and medical products manufacturing on the island to expand economic development.

Michigan is bringing $855 million of state trunk line fund bonds to market Tuesday for road and bridge projects.