Special Program Root Tag

Providing care for thousands of migrants is contributing to the system's escalating uncompensated care costs.

Hochul's budget proposal for fiscal 2025 would preserve New York State's reserves at $19 billion.

The top five bond financings have an average dollar volume of more than $917 million.

The 2025 state budget would provided $2.4 billion to New York City to pay for the costs of caring for a rising influx of migrants, which includes taking $500 million from reserves.

Proceeds from the PMT green bond sale will be used to finance transit and commuter projects that have been approved in the N.Y. MTA's capital programs.

Interest rate risk, stagnant bond volume, loss of revenue and a looming presidential election top the industry's concerns for 2024.

"Preserving a livable planet and a thriving economy will require a collective global commitment both to the phase-out of fossil fuels and to massive new investments," said New York Comptroller Brad Lander.

Increasing capital requirements for banks may incentivize them to buy Treasuries over other assets, including munis, said market participants.

The Federal Open Market Committee meets Dec. 12 and 13 and in addition to their statement, they will issue a Summary of Economic Projections.

The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.

After months of speculation, the firm confirmed it would "wind down" its municipal underwriting and market-making activities after a "broad-based review" of its muni business, according to a company memo.

The Federal Open Market Committee's Summary of Economic Projections probably won't offer the 130 basis points of cuts next year that the market expects.

The top five bond financings have an average dollar volume of more than $1 billion.

"Disney has abandoned its fiduciary responsibilities to its investors and customers by joining far-left activists in boycotting legal, taxpaying, employment-creating corporations to further Disney's political agenda," state Treasurer Curtis Loftis said.

Anne Marie Pippin, associate director in the Federal Housing Finance Agency's Office of Financial Technology, weighs the forces shaping the industry's future.

All eyes are on the Federal Reserve and monetary policy. Join us as Scott Anderson, chief U.S. economist and managing director at BMO Economics, breaks down the latest FOMC meeting.

U.S. regulators' swift action in March to ring-fence the banking sector after the collapse of Silicon Valley Bank might have had an unintended consequence of driving cash out of bond funds by enhancing the appeal of deposits, two New York Fed researchers say.

Megan Kilgore and Virginia Wong talk about how navigating a challenging time in the municipal market has led them to rethink mentoring a younger generation of leaders, and how it is moving the public finance industry forward. Lynne Funk hosts. (39 minutes)

At this year's event, we will induct late Tim Schaefer, Deputy State Treasurer for California, into The Bond Buyer's Hall of Fame. Daniel Wiles, Assistant Treasurer at the Los Angeles County, will provide a few remarks.